1. Economic Consultant
Economic consultants use analytical and research skills to carry out studies regarding economic scenarios. They analyze industry trends to help organizations improve their performance. They might work for organizations in a variety of industries, including business, finance, healthcare, education, the government, and more.
Economic consultants can also act as expert witnesses in legal cases to assess economic damages, analyze the intellectual property and antitrust violations, and to address regulatory violations.
Salary: PayScale estimates that the average annual salary for an economic consultant is $74,630. The bottom 10% earn up to $55,000 and the top 10% earn at least $110,000.
2. Market Research Analyst
Market research analysts tap the knowledge of industry trends to assess how products or services might fare under various economic conditions. Like economics majors, they are trained to design studies and to gather and analyze data. They must be able to quantify results and present this information to clients.
These analysts apply many of the skills that economics majors develop, such as the use of presentation software and a graphical representation, as well as writing and statistical skills. They must think critically about products and services and be adept at solving problems.
Salary: The Bureau of Labor Statistics (BLS) estimated that a market research analyst’s median annual salary was $63,790 in May 2021. The bottom 10% earned less than $34,350 and the top 10% earned more than $122,630.1
Job Outlook: The BLS projected that employment of market research analysts will grow 20% from 2018 to 2028, much faster than the average for all occupations.