Many students studying Economics or Finance related degrees feel investment banking is their ONLY option. And just because they have a finance degree they have to go on to become a banker in a huge financial firm. Yes, it’s true that many economics graduates do go on to become investment bankers and financial analysts at bulge bracket banks. But, this isn’t all you can do with your degree.
An Economics or Finance degree can open several career paths for you. Lately, the job market has become increasingly competitive and most graduates come out of university with a 2:1 or higher. Economics and Finance graduates face intense competition when applying for work at bulge bracket banks, this made the recent graduates think out of the box to the kinds of jobs they could do. Economics graduates have started to enter the professional services industry, media, academia, civil service and government.
Professional service firms such as Deloitte, Pwc, KPGM and EY are known for recruiting majority of economics and finance graduates. So if you want to enter the world of finance, but not particularly as a trader or banker then the professional services could be perfect for you. They specialise in things like consulting, audit, tax, financial advisory, property advisory, risk and technology. So they really offer it all, and link your work to the business world.
Working for the civil service or the government is another great alternative. Economics graduates come out with detailed knowledge on fiscal and monetary policy and government policies, which they could apply in the real world working as an economist for the government. As glamorous as the private sector might sound, the public sector can offer a lot too. Working as an economist, you get the chance to work with the Bank of England and help make decisions that will shape the future of Britain.
Academia is another popular choice for many. If you like the theory of your subject and like talking and communicating the world of academia could be for you. You can pursue further study in your area of interest within economics, maybe a master’s degree or PhD. This will help you specialize in a field of study, and you could go ahead and become a lecturer or researcher. This is a pathway that is rare and easily disregarded by students, but it is a very rewarding career. Who knows you could be the next great economist to publish an amazing theory!
The media industry is becoming increasingly popular, not just for marketing and media students. I’m sure you must have watched Bloomberg news once as a student; well you can work for Bloomberg. Companies like Bloomberg, The Economist and Financial Times like recruiting economics and finance graduates as TV newsreaders, journalists and writers because these graduates have in-depth knowledge on business and economic news. Entering the media industry is tough, but once you show an interest nothing is impossible.
It turns out that an economics or finance degree equips students with marketable skills that can allow them to thrive in a range of careers. And though investment banking is the traditional career path, the world is changing and so is what you can do with your degree. So look further than others and find yourself a career that you enjoy.