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What are the career prospects for economics majors?

Careers in Economics

The Department of Economics has a number of resources designed to prepare students for careers in economics. We can also help point you in the right direction as you search externally for internships and jobs. Make sure that you pay close attention to the deadlines on any of these positions. We are pleased to report that in recent years several of our students have received internships from the State of Illinois. To get started in your search consider taking part in our Career Development Program. If you have any questions, send us an e-mail.

Excellent Salaries: Starting and Mid-Career

Starting - data from national association of colleges and employers, 1997, reported the range of starting salaries was at the upper end of the ranges reported for business and liberal arts degrees. The highest starting salaries are above nearly all liberal arts degrees and comparable to the other traditional business degrees. Average starting salary - $31,300.

Mid-career - The Bureau of Labor Statistics' Occupational Outlook Quarterly for Summer 1996 reported median income for men age 30 and above with bachelors degrees. Those with a bachelors degree in economics ranked fifth among all bachelors degrees at ($50,360). Only graduates in engineering, mathematics, physics and pharmacy earned higher median incomes.

Number of Jobs Increasing

The Bureau of Labor Statistics' Occupational Outlook for January 1997 reported that employment opportunities for economics majors are expected to grow faster than average through the year 2005.

Economics is a Flexible Degree

This means that there are many career paths, rather than only one narrow path, available to economics majors. Placement experts are recommending that students consider flexibility in choosing a degree, given the fact that individuals change careers more frequently than in the past.