Economist
Economists advise government departments, businesses, banks and other organisations on economic matters.
- Starter salary£28,000 a year
- Experienced£60,000 a year
- Typical hours37 to 39 a week
- Green jobPotential
What you'll do
As an economist, you could:
- research information and analyse statistics
- create models to forecast economic developments
- advise on the potential economic impact of policies and commercial decisions
- monitor past and present economic issues and trends
- write reports and present findings
Working environment
You could work in an office or at a university.
Skills and knowledge you'll need
You'll need:
- maths knowledge
- knowledge of economics and accounting
- analytical thinking skills
- excellent verbal communication skills
- to be thorough and pay attention to detail
- ambition and a desire to succeed
- excellent written communication skills
- the ability to think clearly using logic and reasoning
- to be able to use a computer and the main software packages confidently
How to become a economist
You can get into this job through:
- a university course
- an apprenticeship
- working towards this role
- a graduate training scheme
University
You'll need a degree in economics or a related subject, like:
- statistics
- mathematics
- business studies
- finance and accounting
Some employers may prefer you to have a postgraduate master's degree in economics.
Your university course should include both macro and microeconomics.
Entry requirements
You'll usually need:
- 2 or 3 A levels, or equivalent, including maths or economics
- a degree in a relevant subject for postgraduate study
Apprenticeship
You could start a Professional Economist Level 6 Degree Apprenticeship, or a Senior Professional Economist Level 7 Degree Apprenticeship to get into this career.
Employers set their own entry requirements for an apprenticeship, which are likely to include maths at GCSE and A level. They may ask for a first degree in economics, or a similar subject, to start the Level 7 apprenticeship.
Entry requirements
You'll usually need:
- 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a degree apprenticeship
Work
You could start as an economic research officer or analyst in the private sector and work your way up.
Other routes
You could apply for a place on the Government Economic Service Fast Stream programme , starting out as an assistant economist.
You'll need a degree in economics or a combined degree, with at least 50% economics. A postgraduate award in economics may be acceptable.
Career path and progression
With experience, you could:
- become a senior economic adviser in a government department or financial institution
- work for an economic policy unit
- write for economic journals
- teach in higher education
- specialise, for example in environmental economics
You could also become a self-employed freelance consultant.
Professional and industry bodies
You can find professional development training and networking opportunities with the Royal Economic Society and The Society of Professional Economists .
Guides for this industry
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