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Ph.D Economics Jobs, Scope, Salary in India

PhD Economics jobs for graduates are available at a variety of job-related consultancies, both public and private. These are some of the fields to which students can apply for jobs after PhD in Economics are coaching centers, economics consultancies, economics departments, home tuitions, museums, private tuitions, publishing houses, research and development agencies, and schools. Jobs for Economics PhD holders include Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, and Industrial Organization Economists. 

Career Prospects and Job Scope for PhD Economics Course 

The PhD in Economics course can prepare students for jobs after PhD in Economics in a variety of research and development agencies and schools. Research and development jobs in the field of Economics in India have a vast scope and are expected to increase rapidly. Graduates of the PhD Economics program acquire skills and qualifications that can be applied to their careers as economic scientists.

Following completion of a Doctorate of Philosophy in Economics program in India, students may choose from a variety of specializations, depending on their interests and abilities. PhD in Economics scope and salary in India vary depending on the education and experience of the students. A wide variety of career paths is available to graduates of the PhD program in Economics.Career after PhD in Economics are as follows: 

• Political Scientists
• Financial Consultant
• Senior Research Scientist
• Assistant Professor
• Head of the Educational Department
• Senior Economist
• Senior Market Analyst
• Director of Research and Development

Areas of Recruitment for PhD Economics Course 

There are many jobs after PhD in Economics that are available in both the public and private sectors. Graduates’ education and experience determine the scope of PhD in Economics and salary. The options available to students who are pursuing a PhD Economics degree are many. 

Advances in economics consultancies have increased the scope after completing a PhD Economics course in recent years. The student will gain a great deal of consultancy experience and knowledge, which will help him or her gain a competitive salary. The following are some areas in which PhD in Economics are recruited: 

• Coaching Centres
• Economics Consultancies
• Economics Department
• Home Tuitions
• Private Tuitions
• Publishing Houses
• Research and Development Agencies
• Applied Economics
• Econometrics
• Business Economics
• Banking and Finance
• Insurance Investment
• Manufacturing
• Advertising
• Communication
• Education and Research
• System Analysis

Salary Packages for PhD Economics Course 

According to PayScale, PhD in Economics salary in India is INR 3-10 LPA. PhD Economics jobs salary is determined by education and experience. Graduates of the PhD Economics salary in India moderate compared to students with experience.

The following are the PhD Economics starting salaries in India with job designations: 

Source: PayScale

Government Jobs for PhD Economics Graduates

PhD graduates in Economics can choose from a wide variety of government jobs. Government jobs after PhD in Economics are bankers, Economists, geographers, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultants, Financial Consultants in economic consultancies, publishing houses, or PSUs.

PhD Economics graduates typically undergo a test followed by an interview when applying for government jobs. The PhD in Economics salary in India is around INR 2-10 LPA (Source: Ambitionbox). Below is a list of government jobs after PhD in Economics salary:

Source: AmbitionBox

Private Jobs for PhD Economics Graduates 

Doctoral graduates in Economics can find employment in a variety of fields in the private sector. PhD in Economics jobs in India include Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultant, Financial Consultant, Advisor, and Accountant.

After they have completed the course, students can continue their studies or begin careers. PhD in Economics salary in India ranges from INR 2-5 LPA (Source: PayScale). PhD in Economics salary and jobs for freshers in India are as follows:

Job Opportunities Abroad for PhD Economics Graduates 

Students with a PhD in Economics can find employment abroad. The PhD Economics jobs salary is of interest to many students because they will learn numerous methods and techniques that can be applied to the Economics field abroad. Many graduates of top economic agencies are given the opportunity to work abroad. Graduating students working in the private sector will gain valuable experience and skills that will help advance their careers abroad.

PhD Economics graduates can obtain jobs abroad as Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultant, Financial Consultant, Advisor, and Accountant.

Top Companies 

Graduates of PhD Economics programs are hired by the following top companies: 

• Future Group
• Goldman Sachs
• Grasim Honda Two Wheelers
• LTLT Engineering and Construction
• Mahindra Engineering
• Reliance Industries Limited

Best Countries 

Here are some of the best countries that hire PhD Economics graduates: 

• Netherlands
• Switzerland

Various Career Designations Abroad for PhD Economics Graduates 

Graduates of PhD Economics programs can find the following positions abroad: 

• Stock Broker
• Media Analyst
• Lecturer or Professor
• Econometricians
• Public Relations Officer
• Industrial Organization Economists

Best PhD Economics Graduates 

Graduates of PhD programs in Economics have a wide range of career options. Political scientists interested in careers in the field will find the PhD course valuable. Students enrolled in doctorate PhD courses in Economics have increased in the past several years, while students enrolled in courses related to economics have decreased. PhD graduates in Economics in India are usually employed by economic consultancies or research institutes. The following is a list of some of the best graduates of PhD Economics programs: 

• Abhijit Banerjee
• Amartya Sen
• Amiya Kumar Bagchi
• Ardeshir Darabshaw Shroff
• Arvind Panagariya
• Avinash Dixit
• Bibek Debroy
• C. Kumarappa

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Career Options in Economics: Top 9 Career Opportunities in India [2024]

The father of economics, Sir Adam Smith, has rightly said, “No complaint… is more common than that of a scarcity of money.”

Money plays a major role in the lives of individuals, and if you aim to gain more money, the best way to do it is to know and explore your career opportunities. 

Economics is not only confined to money rather it allows us to study of the history, current status and future predictions of models that benefit the government, businesses, or individuals.

Through the framework the economists develop, they are able to advise the stakeholders in effective decision-making. Economists carry out their investigation with certain methods and principles that are inclusive and aim for the greater good.

The realm of economics beckons with a plethora of intriguing opportunities for individuals brimming with analytical prowess and a keen interest in understanding the intricacies of markets, trends, and societal well-being. Let’s embark on a voyage to decode the fascinating array of career options in economics, how to find the right economics jobs, equipping you with the knowledge and guidance to forge your own rewarding path.

Exploring the Landscape of Economic Roles:

From meticulously analyzing data and predicting economic trends as an Economist to guiding individuals toward financial security as a Personal Financial Advisor, your journey can take many shapes. Economics teachers illuminate the complexities of this field to students across various levels, while Supply Chain Analysts optimize processes, ensuring efficiency and cost-effectiveness. Delving deeper into the world of business, Product Managers oversee the conception and launch of products, and Compensation Managers craft competitive compensation packages that align with organizational goals.

Thriving in India’s Dynamic Economy: Economics Careers List

The career scope for economics professionals in India is flourishing, mirroring the nation’s burgeoning economic growth. If you are wondering what are all the available jobs for economic majors, or even highest paying jobs for economic majors, Government agencies, banks, and business sectors eagerly seek skilled professionals to contribute to areas like:

Economic policy analysis : Shaping sound economic policies through in-depth analysis and research.

Financial planning and risk management : Navigating complexities in the financial sphere for individuals and institutions.

Strategic planning and business development : Charting the course for companies and boosting their market presence.

Economic research and policy advisory : Lending expertise to international organizations and non-profit entities.

One of the main responsibilities of an economist is to understand the economy and look into the reasons behind the current problems. These problems could be unemployability, lack of resources for business, etc. These problems could be relatable to any stakeholder, such as government, business, individuals, etc. 

Economics has a big role to play in the industry, as it improves business practices, It aids in cost and benefit, investing cost for R&D, market size, incentives, etc.

Today, economics is applied everywhere, which makes a career in economics lucrative. It is applied in healthcare, finance, government, business, education, family, environment, etc.

Here we are to discuss the  career options in economics.  

Career Options in Economics

As you already know, economics is an enormous field with a wide scope of growth. Here are a few  career options in economics  which you can explore.

1. Economist

Average Salary Range : 5.3 Lakhs- 42.3 Lakhs Per Annum

If research and analysis is your cup of tea, then you are meant to be an economist. With a credible background of economics and a keen interest in the economic functioning of the market in general, you will be able to understand the producer behavior and consumer behavior very effectively. 

Focusing on topics like energy cost, inflation, and interest rates, you will enjoy making economic predictions, designing policies, and advising your clientele through various reports and presentations. 

Economists are responsible for creating financial models and forecasting the basis of their findings that affects business growth.  Economists analyze a huge amount of data, research market trends and patterns, and create policies that solve the problem.

Predicting future development is another major job role of an economist. They monitor the growth, analyze the data and statistics in order to accurately predict the nature of business and prepare a statistical model to predict future developments. That makes careers in economics interesting, innovative and creative.

Adam Smith, Karl Marx, M.G Ranade, Amartya Sen, Manmohan Singh, and many others are a few of the most popular economists known to the history of humankind, and your name has the absolute potential to be added to the list.

With a professional and educational background in economics, the career path of an economist is not only the safest bet but also your best one. 

The professionals must be equipped with the skill sets such as mathematical aptitude, economics methodology, knowledge of social sciences, communication skills, curious mindset, etc. to ensure success in the industry

Read:   Top 10 Highest Paid Jobs in India

2. Personal Financial Advisor

Average Salary Range : 1.84 Lakhs – 10.00 Lakhs Per annum

A financial advisor is a personal financial planner whose primary job is to plan investments and manage money in a way that generates the best return for the principal. It is essentially a number game and would be challenging as well as rewarding for those who like number games and have a keen interest in economics and finance.

The advisory role essentially involves budgeting, investment, and tax-saving strategies for the clients regularly and changing the strategy by evaluating the market conditions. This role also involves being an educator in respect of managing money for every client who would depend solely on your skills and expertise for making their personal financial decisions.

Often people think that the role of a financial advisor is all about managing your stock portfolio and executing trades. The actual purview of a financial planner spans beyond the investments and covers every aspect of personal finance, right from earnings to investment, and also the insurance and tax saving tools to employ.

A personal financial advisor has the expertise in providing the final advice to their clients and maintaining a customised approach for their clientele. They understand the fund flow of their customers and their aspirations for the coming years and help out in managing their finances that make sense to each clientele.

The advice is aimed at increasing the finances and mitigating the risks that may arise due to past activities or future possibilities that could negatively affect the organisation’s growth and finances.

Some of the skills that are required from a personal financial advisor are good knowledge of economics, finance, numerical literacy, communication, active listening, analytical, statistical, negotiation skills and many more.

3. Economics Teacher

Average Salary Range : 2.06 Lakhs – 10.00 Lakhs Per annum

The profession of a teacher requires no introduction and is considered to be one of the noblest professions in any part of the world. The branch of economics is so huge that everything has some element of economics in it. The areas of study of economics can be divided into two, i.e. teaching and research. The teaching starts right from high schools to colleges and the research part is more of an advanced level of learning where experienced professors of esteemed colleges and universities guide the students and research fellows to study various economics’ concepts and methods and its applications. 

The economics teacher is responsible for delivering the economics concepts to the students. They are responsible for imparting the theory of economics and cater to each student making sure they are up to speed with the class. The economics teacher would also be responsible for making a lesson plan, assessing the students and guiding them to increase their mindset.

In order to fulfil the duties, some of the skills that come in handy are subject matter expertise, teaching lesson planning, time management, student learning, communication, empathy, active listening, etc.

The young aspiring students who look to advanced research concepts with a passion for teaching can become economics faculties in good colleges in the country after passing the necessary qualifying examinations. If this sounds like your area, you can take additional courses to understand the intricacies. Online platforms like  upGrad  offer great certificate courses that cater to your needs with the help of industry experts.

Learn about: Top 10 Online Courses with High Salary in 2022

4. Supply Chain Analyst 

Average Salary Range : 2.49 Lakhs – 10.00 Lakhs Per annum

A supply chain analyst is a key person in the whole workflow of the supply chain who collects and analyses data to improve performance and scale down costs. The role of a supply chain analyst requires strong analytical skills and business acumen. The complex job profile requires good problem-solving skills and attention to every minute detail. 

The vital job responsibilities of an analyst include the planning and implementation of supply chain optimisation projects, maintaining standards, and overseeing inventory procedures. 

Being the contact point for purchases as well as inventory management, the job of a supply chain analyst demands excellent communication skills and outstanding organizational ability, and a problem-solving attitude.

Sharp analytical skills and good command of the numbers will help a person to become an analyst. A person with a sound knowledge of economics and an understanding of the number of the game well with sharp problem-solving skills can land the job of a supply chain analyst with great success.

Some of the skills that are required from a supply chain analyst are quantitative skills, interpersonal, statistical, problem-solving, negotiation, etc. Scope in economics is not limited; the supply chain industry is one example of it.  The professionals can make a career of their choice depending upon their interests and aspirations.

5. Business Reporter 

Average Salary Range : 1.01 Lakhs – 10.00 Lakhs Per annum

Are you a media enthusiast? Are you someone who would like to take a deep dive into business stories? Do you like economics? If the answers to all these questions are affirmative, then you can land into a successful career as a Business Reporter.

As a business reporter, the primary job is to gather information on businesses and communicate with persons within and outside of your organisation, including the public, government, and others.

The role of a business reporter requires the ability to identify information and categorise them according to its relevance as to how it affects the public at large. This essentially means that one should know what is to be reported so that the public is aware of important matters.

To be a successful business reporter, one shall have sound knowledge of economics and how the business mind works. This is one of the exciting career options in economics for every person who likes to follow businesses around the world and create stories from an outsider’s perspective.

A business reporter holds great importance in society. They are responsible for reporting how a business tracks its growth and market trends and investigating issues that are kept hidden or unsaid. Through their reporting, they bring transparency to the market and encourage the business world to follow the same.

Some of the skills that are required for a business reporter are business acumen, investigative, research, analytical, problem-solving, ethics, truthfulness and many more.

Considering your next steps after B.Com? Explore the variety of career options after BCom to navigate your future with confidence.

6. Economic Consultant

Average Salary Range: 2.04 Lakhs – 20.00 Lakhs Per annum

The career of an economic consultant essentially has three pillars namely, knowledge of mathematics, economics, and statistics. The primary job of an economic consultant is to conduct research about the economic condition of the client organisation with the object of reconstructing the business to close the holes that block the business growth.

The job profile requires the consultants to have a close watch on the economy and its latest trends as to every change that happens and how they can affect the businesses directly and indirectly. For e.g., a change in government policy and how it will affect the business.

The economic consultants have to have strong analytical skills in order to produce the best results for the organisations as their output can significantly affect the entire business.

It is one of the most aspiring career paths for economic graduates and those who have advanced knowledge in economics and can make you reach the top of business organisations within a short period of time.

7. Product Manager

Average Salary Range : 5.04 Lakhs – 31.00 Lakhs Per annum

This is a cross-functional role in the development and the final release of a product into the market. The product manager is the key person who is bestowed with the ultimate responsibility of bringing into life a product of the organisation without any delays and glitches.

The job profile requires the managers to derive the strategies, product-launch roadmap, marketing, and forecasting of the product being launched and hence can be said that they are an all-rounder with great team managing skills.

They are required to look after the customer needs and execute the same into the product or service. The ultimate goal is the company’s increase, and the product is the robust pillar of it. The more the product would be customer-centric, the more it will be reflected in the growth and higher edge the business would acquire over its competitors.

Product managers are required in every industry today, such as education, government, finance, manufacturing, e-commerce, and many more. The scope of economics in India is not limited to one domain rather, the economics graduate can make a good career as a product manager as well.

The role of a product manager demands that individuals have a sound knowledge of economics as one needs to have strong analytical skills and command over statistical tools when it comes to market forecasts.

The career of a product manager is a challenging one for aspiring economic graduates who have excellent interpersonal skills and leadership qualities. One has to be everywhere to make sure that the product meets the customer’s expectations all the time.

8. Compensation Manager

Average Salary Range : 4.85 Lakhs – 40.00 Lakhs Per annum

The role of a compensation manager is to make sure that the company’s pay scale system is adequate and up to date, taking into consideration the standard of living and the current inflation rates. The goal is to ensure that the remuneration is fair and adequate for the existing employees and also good enough to attract new talents to the company.

The compensation manager essentially comes under the umbrella of the human resource division of the organization but has the exclusive job of managing the pay scale after taking into consideration the macroeconomics factors and various other government regulations.

The manager is also responsible for budgeting and also acts as a support system for the payroll managers. The compensation manager must have a check on the performance of the employees so that it reflects on the pay scale to reward and punish, which is required for business growth. It is one of the most rewarding  career options in economics.

It is a very critical department for any company as the compensation holds any cash or non-cash benefits the company is imparting to their employees. The compensation manager holds the analytical mindset that makes the vision beyond the evident case scenario. They are responsible for critically thinking about the situation and deciding the next course of action.

Also read:  Top 10 Highest Paid Jobs in India in Commerce Field

9. Quantitative Analyst

Average Salary Range : 4.82 Lakhs – 20.00 Lakhs Per annum

The primary job of a quantitative analyst is to make financial decisions in the business with the help of quantitative methods. The role of a quantitative analyst is imperative in organisations such as PE firms, fund managers and investment bankers.

The analyst role mandates absolute expertise in handling numbers and analysing them. Another important tool is advanced computing skills for using various tools for decision making, as large amounts of data are processed for reaching a business decision.

Young economics graduates with good command over numbers and those who look for a career in large banking and investment institutions can start sharpening their skills to become a quantitative analysts. The reward factor in the job of a quantitative analyst is huge that organisations offer lucrative packages to get the best brains in the country to join their dynamic team. It is a challenging as well as rewarding role for economic aspirants.

It is one of the prestigious jobs for economics graduates ; they can begin their career with an entry-level role and make their way up by gaining more experience and skill sets. It makes for a good career where the professionals can apply their mathematical, research and analytical skills to create a robust strategy for the organisation’s business decision.

The quantitative analysis or quants mostly aim to do risk management and mitigate the risks that could arise due to past occurrences or unforeseen events. The quants do not see any shortage of employers as there are numerously reputed employers requiring skilled candidates.  The compensation paid is also good guided by various factors such as skill sets, experience, upskilling history, location, seniority level and many more.

Also Read:  Highest Paying Jobs in Technology

Sharpening Your Economic Arsenal:

To excel in this domain, cultivating a blend of technical skills, analytical abilities, and soft skills is paramount. Hone your analytical prowess to discern patterns in intricate data, while mastering quantitative skills for statistical analysis and econometric modeling. Conduct thorough research, drawing on your research skills to gather relevant information and critically evaluate it.

Critical thinking will equip you to tackle challenges creatively and make informed decisions, while effective communication ensures you can articulately present your findings to diverse audiences. Interpersonal skills foster collaboration and build meaningful professional relationships, and adaptability allows you to embrace change and thrive in evolving environments. Additionally, attention to detail, ethical conduct, and a commitment to continuous learning are cornerstones of a successful economics career.

Charting Your Course to Success:

Building a fulfilling career in economics requires strategic planning and dedication. Here’s a roadmap to guide you:

Invest in Education : Earn a relevant degree in economics, public policy, or related disciplines from a reputable university. Consider advanced degrees or certifications to further enhance your expertise.

Gain Hands-on Experience : Internships, research assistantships, and entry-level positions provide invaluable exposure to real-world scenarios.

Develop Specialization : Delve deeper into specific areas like macroeconomics, development economics, or public finance.

Network and Build Relationships : Connect with peers, mentors, and industry professionals to expand your network and gain valuable insights.

Stay Updated : Regularly engage with current events, policy developments, and emerging trends to maintain a comprehensive understanding of the economic landscape.

Sharpen Your Skills : Continuously update your technical and soft skills through workshops, courses, and online resources.

Take Initiative : Seek leadership opportunities, lead projects, and demonstrate your ability to drive results.

Invest in Professional Development : Join industry associations, participate in seminars, and pursue certifications to stay at the forefront of your field.

Set SMART Goals : Define clear, achievable career goals and create a roadmap to realize them.

Embrace the journey, unleash your analytical aptitude, find the right job opportunities for economics graduates, economic student jobs and embark on a rewarding career in the ever-evolving world of economics. Remember, with dedication, continuous learning, and strategic planning, you can translate your passion for economics into a fulfilling and impactful career path.

All the above career options in economics  demand discipline, hard work, and patience. However, it will not be an understatement to say that these career paths are bound to take you to sustainable growth and development! 

So, there you go, a detailed list of some of the best career options in Economics! We’ve taken care to include both the trending and evergreen career options so that you can get a better idea of what lies ahead and plan your career steps accordingly.

Kamal Jacob

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Frequently Asked Questions (FAQs)

The economics graduates could either go ahead and intern or secure a placement. In terms of pursuing higher studies, economic graduates can pursue MBA, Finance, Management, Public Policy, International Relations, etc.

Yes, economists are in demand. The demand is due to the numerous industry application that increases the pool of opportunities to choose from. Additionally, the demand is not confined to India; rather there is a high demand internationally as well.

Yes, an economics graduate can land a job after their graduation. Some of those are mentioned below- 1) Market analyst, 2) Banking, 3) Finance Analyst, 4) Budget Analyst, 5) Quantitative Analyst

Yes, economics majors are in demand in the global market. They are required for the skill set they bring into the organization, and their understanding of the economy and human behavior is considered an asset for any company that aids their analytical and problem-solving methods.

The two types of economics are microeconomics and macroeconomics. Economics graduates can make a successful career in either of these two types depending upon what excites them more.

The travel is dependent upon the type of job role one is in. If the job requires one to travel, then they do. The travel could be for business meetings, conferences, or other work-related concerns.

MA in economics is more suitable for students who have specific knowledge of a domain, and an MBA is much more suitable for those students who come from various backgrounds.

An economic graduate can work in the banking sector. Economics graduates are considered an asset in the banking industry. In banking, they can work for financial control, financial planning, risk analysis, etc.

We need to acquire certain mathematical, analytical, and statistical skills for every stage of our life. With the help of an economics degree, you get access to put these skills to work. Moreover, you also get the flexibility to use the economic principles in business, finance, etc. Economic concepts are very useful and can be applied when dealing with complicated data to analyse how data points are related to one another. Economics assists you in getting command over skills like communication, numerical, analytical skills, and problem-solving skills. Banking, insurance, business, and accounting careers use economics knowledge. Working in such sectors contributes by offering you a vision in such a way to deal with financial risks, design a building, or where the government should invest their money. You can apply your learning of economics in various areas like planning, marketing, management, and research.

Economics is the study of the relation between human beings and monetary wealth. When human beings are put in front of difficulties or successes, their reaction towards it is what determines human behaviour. Furthermore, the studies of politics, sociology, history, and psychology are all a part of economics. The study of economics fills you with knowledge of utilising skills, ways, and approaches so that you can use them as needed. Economics is the study of central disciplines of subjects like management, business, and public policy.

One of the widespread applications of economics is to make life-changing money-related decisions. Economics truly helps in making life decisions. Some of these include your marriage, how many kids you decide to bear, and your living conditions. Before we make our final decision on either of them, we need to use “cost-benefit analysis.” In this technique, all the options are equally weighed. The pros and cons are straightened out. Depending on which choice is better and practical, a decision is made based on the outcome. Household budgeting, employment, and price tags are other areas where economics is used every day.

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Ph.D in Economics: Admission 2024, Eligibility, Syllabus, Duration, Fees, Scope

PhD in Economics is a three- to five-year doctoral programme in economics. Candidates must have completed a postgraduate course in Economics or hold a bachelor's degree in Economics from a recognised university to be eligible for the course. The average salary of an Economist in India is Rs. 16.1 LPA.

Highlights: Ph.D in Economics

Eligibility criteria for ph.d economics, admission process for ph.d economics, top ph.d economics entrance exams, cutoff for top colleges, skills required for ph.d economics, syllabus of ph.d economics, fee structure for ph.d in economics, scope for a ph.d in economics, career options after ph.d. in economics, benefits of studying ph.d in economics, salary after ph.d in economics, list of top 10 ph.d economics colleges in india with fees, top private ph.d economics colleges in india with fees, top government ph.d. economics colleges in india with fees.

Economics is primarily concerned with combining cutting-edge economic principles with thorough data analysis in order to solve issues. Some of the popular degrees in Economics before doing a Phd are BA, BE, B.Sc. in Economics, MA, M.com and M.Sc. Some of the popular career options are Professor, Economist, Statistician, and Equity Research Analyst.

The top colleges offering Ph.D Economics courses are IBS Hyderabad, BITS Goa, and IIFT Kolkata. Students aspiring to pursue Ph.D Economics courses must clear the relevant entrance examinations, such as UGC NET, and CSIR UGC NET, depending on their college and specialisation.

Most educational institutions have similar eligibility requirements for a Ph.D. in Economics students who have completed their Master’s degree in Economics are eligible to pursue Ph.D in Economics.Applicants will be evaluated on statistics and maths in the first part. The second half will assess candidates' knowledge of microeconomics, macroeconomics, and econometrics.

• Students must hold a master's degree in Economics (MA Economics) from a recognised institution.
• A master's degree with a minimum of 50 percent marks is required.
• Candidates must pass a written exam and a personal interview, as well as meet the institute's basic standards.

Admission requirements for the PhD in Economics vary by institution. Depending on their admission exam and master's degree results, students are admitted to various colleges. Some universities will accept students based on their entrance exam results while some institutes conduct personal interviews or other tests to screen the applicants.

• Applicants can apply for PhD in Economics admission directly at the university by going there, filling out the admission form, presenting the required documents, and submitting the application form.
• Candidates can also apply by browsing the college's website, filling out the online PhD in Economics degree application, and uploading all required credentials.
• They can also directly apply for exams such as UGC NET or CSIR UGC NET depending on their specialisation and meet the cutoff score.
• Once clearing the exam choosing their institutes students are advised to pay the course fees and submit the required documents as per the requirement of the institute.

UGC NET: University Grants Commission National Eligibility Test popularly known as UGC NET is a national-level entrance examination for many courses related to lectureship and doctorate. The examination is conducted by the National Testing Agency (NTA) twice a year. The exam is conducted in various languages and is conducted in online mode.

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CSIR NET : CSIR UGC Test for JRF and Eligibility for Lectureship or CSIR UGC NET is a national-level entrance examination administered by National Testing Agency (NTA) for admission to various courses in the Lectureship such as Life Sciences, Chemical Sciences, and Mathematical Sciences, the exam is conducted in Online mode in English and Hindi languages.

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A cut-off for a PhD in Economics is a set of criteria used to assess a candidate's eligibility or entrance exam scores. The cutoff for a Ph.D in Economics differs by college and is determined by the number of students who clear the entrance examination, difficulty level of the entrance examination and status and prestige of the institute.

Candidates need certain skills in order to fully benefit from the course, candidates wishing to apply for the Ph.D Economics course need both practical as well as theoretical knowledge to be successful in their academics and future careers in the field of Economics. Listed below are the skills required to pursue Ph.D Economics course:

• Good Communication Skills
• Critical Thinking
• Decision-Making skills
• Interest and Aptitude for Economics

The syllabus of Ph.D Economics include subjects such as Research work in Economics, Database research for Economics, Quantitative Methods and Computer Applications. In the table below we have mentioned the syllabus of Banaras Hindu University for their Ph.D in Economics syllabus.

The fee details of the Ph.D in Economics course can be found on the official website of the institute or students can visit the college personally to get all the necessary details about the course. Fee depends on the type of institute, its location and the course chosen by the institute. Generally the fee for a Ph.D Economics course ranges from Rs. 36,000 to Rs. 1.84 Lakhs.

The Ph.D. in Economics programme is designed to enable students not only to get a basic understanding of domain-specific concepts but also to strengthen their overall interpersonal and teaching abilities. Because of the global economy, Ph.D. in Economics is in increasing demand in India for both academic and employment prospects, and the demand for a well-trained economist is also constantly rising.

Many Indian businesses hire economists with a PhD degree. Academic qualities and abilities determine the work and positions of PhD in Economics graduates. They are hired by various companies and universities for the jobs and profiles listed below. We have listed some of the well-known career options after PhD in Economics degree.

Professor: A professor teaches individuals in a certain field of study at a university or college level. In most cases, a professor is an expert in the topic that he teaches at the university level. Professors who are knowledgeable and experienced in their fields are qualified to conduct research and publish articles in their fields.

Economist : An economist examines resource growth, investment, and distribution in order to bring what they've learned into practice and impact current social dynamics. In today's context, economists must research, analyse, forecast, and assess business and revenue patterns in every industry.

Statistician : Individuals who have studied business and have chosen a career that requires data analysis and analytical skills are known as statisticians. To collect data, statisticians design surveys, trials, and opinion polls. They're in charge of overseeing how many and what kind of groups or samples will be employed in the research or poll.

Equity Research Analyst : In the financial sector, equity research analysts operate for both buy and sell-side firms. They generate industry and stock research reports, estimates, and suggestions. To keep their research up to date, equity research analysts analyse market data and news reports as well as consult with individuals in the firms and industries they research daily.

Top Recruiters:

• Ernst & Young

Students will have the opportunity to focus on the research areas that they are most passionate about. After completing a Ph.D in Economics, students can get a job as a professor in India. Students will get a better insight into how the social environment operates, which will assist them to evaluate problems and solutions.

Students after completing Ph.D in Economics course can apply for various career options, the salary for these courses depends on the location of the company, its status, job profile opted by the candidates, and the skills and experiences of the candidates. The salary after a Ph.D in Economics is mentioned below.

Source: AmbitionBox

Many private and government institutes offer Ph.D in Economics courses in India, the admission to these institutes is based either on entrance examination or direct admission based on merit score. Mentioned below are the top 10 Ph.D Economics colleges in India along with their respective fees.

Ph.D in Economics courses are offered by many private institutes in India, students are advised to check the admission process of these colleges carefully and follow the eligibility criteria. Mentioned below are the top private Ph.D Economics colleges in India with Fees.

Government institutes are slightly cheaper as compared to a private institutes and also offer quality education. Students can check the course and fee details on the official website of the college. In the table below, we have mentioned the top government colleges offering Ph.D. Economics degree programmes along with their respective fees.

Ph.D Economics course teaches the students advanced skills and knowledge in the field of Economics. Economics is a very diverse and broad field including many areas of research. Students pursuing Ph.D in Economics courses learn about various topics which will help them in their careers as academicians or working professionals.

Frequently Asked Question (FAQs)

PhD in Economics is among the most attractive degree programs: if you perform well, you'll have a good chance of securing a high-level research position in academia or government sectors. Academic economics, in particular, is among the best methods to perform and strengthen international economic research.

A PhD is challenging in any discipline, not just economics since it is a research training exercise.

PhD in Economics course prices range from Rs. 36,000 to Rs. 1.84 Lakhs on average, depending on the type of college.

For a PhD in Economics, students must complete a master’s degree in Economics from a recognised university.

The PhD in Economics is a three to five-year-long programme.

Communication skills, Critical thinking, Organising skills, Leadership, Decision-making skills, Patience, Attention to detail, Numerical ability, Active learning are some of the skills required for a PhD in Economics.

Some of the top colleges which offer Ph.D. in Economics degrees are IBS Hyderabad, BITS Goa, JD Patil Sangludkar Mahavidyalaya, Daryapur, SGRR P.G College, Saraswathi Narayanan College, Madurai, Jagat Taran Girls Degree College, Allahabad, Government Arts College Kota, School of Postgraduate Studies Tamil Nadu Agricultural University, Coimbatore.

There are various career options after a PhD in Economics degree. Some of the careers are Professor, Economist, Statistician, Equity Research Analyst.

Deloitte, Google, Boeing, TCS, Cognizant, Ernst & Young, Delhi University, Jamia Millia Islamia University, Jadavpur University, Kolkata, Banaras Hindu University, Varanasi, Jawaharlal Nehru University, Axis Bank, Accenture, Intel, Qualcomm are some of the leading organisations that hire PhD in Economics graduates.

Students who have completed an MA, MSc, MCom, or BTech degree can apply for a PhD programme.

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Ph.D. in Economics - Shape the Future of Global Finance

Blog / December 19, 2023

In the present scenario, as the globe is grappling with unprecedented economic challenges, the quest for a Ph.D. in Economics surfaces as a balefire of innovation and expertise. In this dynamic journey, scholars delve into advanced economic theories, quantitative methodologies, and real-world applications, readying to make considerable contributions to the field of economics. 

This doctoral program goes beyond conventional classroom learning, promoting a scholar community engaged in highly advanced research. From behavioural economics to financial modelling, Ph.D. aspirants traverse dynamic specializations, rigging themselves with the tools to analyze and influence economic policy. 

In a world starving for economic insights, these future leaders are committed to driving impactful change. The Ph.D. Economics degree is not just an academic achievement but a dedication to shaping a sustainable and equitable global economic future. 

If you have a keen interest in diving deep into the mysteries of the world's economics, then a Doctorate degree in Economics is the right fit for you. 

The Scope of Ph.D. in Economics

The employment rate of Ph.D. Economists is predicted to grow by 6% between the years 2021-2031, which is amongst the highest compared to the other Ph.D. degrees. With this data, the query pinpointed by Ph.D. Economics aspirants, "Is a Doctorate in Economics worth it?" also gets resolved, as this degree is certainly worthy.

Jobs After Ph.D. in Economics in India

Coupled with unwavering determination and dedication, the extensive curriculum exhibited by Ph.D. scholars throughout their research imparts them with unparalleled competence. Consequently, organizations, colleges, research labs, and numerous other institutions readily proffer lucrative jobs to Ph.D. Economics holders. 

The job prospects for Ph.D. Economics degree holders are massive, spanning roles such as:

• Econometricians 
• Industrial Organization Economists
• Geographers

Apart from these, some promising Ph.D. in Economics jobs include positions like- Assistant Professor, Senior Economist, Political Scientist, Consultant, Senior Research Scientist, Financial Consultant, Director of Research and Development, Senior Market Analyst, Advisor, and Head of Educational Department.

How Much Can a Ph.D. Economics Degree Holder Earn?

Salaries for Ph.D. holders in economics subsequently range from 3 lakhs to 38.2 lakhs, contingent on their experience. 

Eligibility Criteria for Ph.D. Economics

• To be eligible for admission, a candidate must have attained a minimum aggregate of 55% in his/her post-graduate degree in any discipline.
• The selection of a candidate will solely depend on his/her performance during the admission process, provided he/she meets the minimum eligibility requirement.

Unleash the Visionary Economic Leader Hidden Inside You with a Ph.D. in Economics @ Shiv Nadar University (Institution of Eminence)

Dive deep into a world of intellectual rigor and advanced research with a Ph.D. in Economics at Shiv Nadar University. This distinguished program proffers a holistic curriculum spanning advanced economic theories, quantitative methodologies, and applied research to prepare scholars to tackle the complex challenges of today's global economy.

At the School of Humanities and Social Sciences, housed under Shiv Nadar University, Ph.D. aspirants benefit from a collaborative and supportive research environment, working in close proximity with reckoned faculty members dedicated to fostering academic excellence. The program encourages and empowers multidisciplinary exploration, opening a plethora of doors to diverse and dynamic career opportunities in academia, research, and industry.

As an attestation to Shiv Nadar University's commitment to producing thought leaders, the Ph.D. Economics program equips graduates with the skill sets and in-depth knowledge required to make significant contributions to economic research and policy. The areas of expertise of faculty members in the Economics Department include:

• Industrial Organization
• Public Economics
• International Trade
• Environmental Economics
• Growth and Inequality
• Individual and Collective Choices
• Contract Theory
• Matching and Fair Division
• Computational Economics
• Open-Economy Macroeconomics & International Trade
• Independent Research Project
• International Finance
• Time Series Analysis
• Social Choice Theory
• Labor Economics
• Game Theory
• Behavioral Economics
• Financial Economics
• Development Economics
• Macro Economics Workshop
• Political Economy Workshop
• Politics and Institutions
• Economics of Discrimination

Ignite Your Passion for Economic Research with a Ph.D. in Economics

A Ph.D. in Economics is an intellectual journey empowering scholars to decipher economic intricacies, contribute to advanced research, and shape global policies. With vast and dynamic career paths ranging from academia to industry leadership, this highly advanced degree fosters expertise and propels graduates toward meaningful roles in the ever-evolving economic landscape. Enrol in to join the academic journey at Shiv Nadar University to transcend traditional boundaries and shape the future of economics.

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PhD in Economics

The department offers a PhD program in seven academic disciplines (Economics, Literature, Linguistics, Philosophy, Policy, Psychology, and Sociology). The PhD program consists of both full time and part-time students.

Who can apply?

Eligibility: M.A./M.Sc (2 years)/M.Com/M.B.A/M.Phil or B.Tech/BE/B.Sc Engg. (4 years) or M.Tech/ME/MS Research (2-3 years)/M.D/ D.M./M.S/M.DS

Minimum qualifications: 60% marks or 6.00 CGPA on a 10-point scale and qualified GATE/ CSIR/ UGC-NET or JRF/ICAR/ICMR/ DST - INSPIRE Fellowship (check the prospectus of the current admission cycle for details about the exemptions and clarifications.)

Application process: Eligible candidates can apply for the programme at PG Admission Portal .

PhD under UQ-IITD Academy of Research (UQIDAR)

The University of Queensland (UQ), a top 50 global university, and the Indian Institute of Technology Delhi (IITD), an Institute of Eminence, have joined forces to create a joint PhD program that will allow scholars to deliver global impact.

All successful UQIDAR PhD applicants will be offered a scholarship to enable students to focus on their research.

Read more: https://uqidar.org/

Career Scope In Economics: Jobs Opportunities, Salary & Growth

Career Scope in Economics: Economics is the Evergreen Subject that has high demand at both the national and universal levels because of its utility in our day-to-day life. The economics field is very much interesting and offers a variety of subjects in it. Career options in Economics include jobs like Economist, financial risk analyst, Accountant, Investment Analyst, Financial Consultant, Data Analyst, and more.  Here you will find a complete guide on career scope in Economics.

Table of Contents

Career Scope In Economics | Job Opportunities For Economics Graduates

Economics is one of the evergreen subjects because of its high utility and huge demand in the job markets. It is also an important discipline both for a career as well as a job point of view. Job opportunities are increased because of globalization and after the merging of the world economy. A well-trained economist has a high demand not only in India but also across the world.

Because of the rapidly globalizing economic scenario. The big business organization is hired financial analysts, researchers, and consultants.

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Scroll down to find more details on Career Scope in Economics!

How To Become An Economist?

You can become an economist with an undergraduate degree. Many universities across India offer undergraduate programs in economics. You can select from the following undergraduate degrees to begin your career as an economist:

Bachelor’s Degree Courses:

Bachelor of Arts in Economics

Bachelor of Arts in Applied Economics

Bachelor of Arts in Business Economics

Bachelor of Arts (Honours) in Economics

Bachelor of Science in Economics

After completing your graduation in economics, you can opt for a Master’s Degree through the postgraduate programs offered in various universities. You can choose from the following postgraduate programs:

Master’s Degree Courses :

Master of Arts in Economics

Master of Arts in Econometrics

Master of Arts in Business Economics

Master of Arts in Applied Economics

Master of Philosophy (MPhil) in Economics

Master of Science (MSc) in Economics

Master of Business Administration (MBA) in Business Economics

Doctoral Degree Course:

Further, you can continue your education to the doctoral level by pursuing a Ph.D. in Economics or Econometrics.

Economics Degree Syllabus

Here you will get a basic idea about the Economics Degree syllabus for various levels. The syllabus is different for different universities but the topic we have provided below will be there.

Undergraduate level: The students of these programs would study the topics such as Macroeconomics, Microeconomics, Utility, Elasticity of Demand, Monopoly, Factor Pricing, Interest, Demographic Features, Agriculture and Land Development, Small Scale and Cottage Industries, the infrastructure of the Indian Economy, Macro Variables, Classical Theory of Employment, Source of Revenue, Public Finance, Bank, Money, Inflation, Deflation, and Recession and so on.

Postgraduate level:  The students pursuing their Master’s Degree in Economics would study the subjects such as Microeconomic Analysis, Elementary Statistics, Theory of Pricing and Distribution, Macroeconomic Analysis, Quantitative Methods, International Finance, Economics of Industry, Growth Models of Economics and Issues in the Indian Economy and more.

Doctoral level: These students need to conduct thorough research in respective economics-related concepts. They need to submit their ‘thesis’ to the concerned authorities. After a scrutiny of the thesis they submit, the universities award a Ph.D.

Economist Course Duration and Fees

Here we have provided the average fee structures. It may vary based on Institution. The private institutions may ask for capitation fees for development and other purposes. So, it is better to check with the specific institutions, for the precise details of fee structures.

Required Skills To Pursue Careers In Economics

If you have the following skills, then you will have a better career scope in Economics: 

• You should have better mathematical knowledge so that you can work with different figures to pursue a better career in Economics.
• You should always remain aware of current affairs, and you have to understand the implications analytically.
• You should have research-minded and should possess the ability to research every aspect of the economy.
• You should be motivated enough and try to be perfect.
• You should always keep patience and remain positive and optimistic.
• You have to think logically in various scenarios.
• Proficiency in Mathematical knowledge is essential to build up a career in Economics.
• You should have better communication skills and public speaking skills to explain the complicated economic analysis to the general public who do not know Economics.

Career Scope In Economics In India | Ultimate Career in Economics & Economics Jobs

Here we have covered some Career Scope in Economics in India:

Economics Career Options: Teaching Profession

It is one of the best Career scopes in Economics after completion of the degree. As an Economics Graduate, you can appear for CTET or other state-level teaching exams and become a teacher.

After completing M.A. in Economics with at least 55% marks a candidate can either pursue Ph.D. in any University or appear for University Grant Commission’s National Eligibility Test currently conducted by National Testing Agency.

By qualifying in this test, a candidate can become eligible for the post of Assistant Professor in Indian Universities and Colleges or can get a Junior Research Fellowship in a Research Institution. The Ph.D. degree holders are likely to get more job opportunities in every sector.

Economics Career Options: Indian Economic Services

Another best career scope in Economics is IES. You have to complete M.Sc. or M.A. in Economics with at least 55% marks that can appear in the Indian Economic Service exam. The age range should be 21-30 years. UPSC conducts the IES exam.

After selection, one has to perform tasks like economic planning and analysis in Planning Commissions for the country. They can also be placed in the Planning Board, Ministry of Economic Affairs, National Sample Survey, and other departments that need knowledgeable persons in economics.

Economics Career Options: Banking Services within the Public Sector

It is the most common and popular career scope in Economics. Reserve Bank of India recruits economists in the banking sector through their own different recruiting examinations. You should have an age limit of 21-28 years.

You can also find jobs in research institutes like the National Council of Applied Economic Research, New Delhi; the Indian Council of Social Science Research, the Institute of Economic Growth, New Delhi, etc. One can appear in IBPS and State Bank recruitment exams to get absorbed in the banking sector.

Economics Career Options: Private and Foreign Banks

An Economics degree holder can try for private and foreign banks. The banking job profiles available are branch managers, clerks, economic advisers, development officers, etc. 

Economics Career Options: International Agencies

Experienced and famous Economists can get employment opportunities in well-known international organizations like the World Bank and the International Labor Organization. 

Economics Career Options: Work As A Consultant

Economics graduates can work independently as economic consultants. In the case of the private sector different scientific research and consulting, firms can offer excellent job opportunities.

Economics Career Options: Entrepreneurship

Economists will have a depth of market knowledge. They will quickly understand the market trends and profitable sectors of business. Hence by creating their own business, they can soon achieve exponential growth. So a large number of job opportunities can be created this way. It will also be helpful to reduce the unemployment issue in the country.

Top Job Roles for Economics Graduates

Ba economics scope.

• Professional Economist
• Financial Risk Analyst
• Data Analyst (Banking Sector)
• Financial Planner (Banking Sector)
• Financial Controller/Financial Economist
• Equity Analyst
• Cost Accountant
• Economic Researcher
• Business Economist
• Agricultural Economist
• International Economist (Specialization)
• Industrial Economist (Specialization)
• Labor Economist (Specialization)
• Investment Analyst

Salary Structure Offered To Economics Graduates In India

An Economist earns approximately in the range of 1.88 lakhs to 14.81 lakhs per annum.

In Government Sectors, economists can earn ranging from Rs 10,000 to Rs 12,000 per month after joining.

One can work in the banking sector because it is also proving an impressive pay package. The earning of economic consultants is also very good.

Top Institutes To Study Economics In India 

• University of Delhi, South Campus
• Delhi School of Economics (University of Delhi)
• Jawaharlal Nehru University, New Delhi
• University of Bombay, Mumbai
• University of Agricultural Science, Bangalore
• Stephen College, Delhi University
• Jamia Milia Islamia University
• Maharaja Sayajirao University of Baroda
• Bangalore University
• University of Calicut
• Banaras Hindu University, Uttar Pradesh
• Kumaun University, Uttarakhand
• Meerut University, Meerut
• University of Pune, Pune
• Sri Ram College of Commerce, Delhi
• Lady Sri Ram College for Women, Delhi
• Hans Raj College, Delhi
• Hindu College, Delhi
• Presidency College, Kolkata
• Xavier’s College, Kolkata
• Xavier’s College, Mumbai
• Loyola College, Chennai
• Symbiosis School of Economics
• Madras School of Economics
• IIT, Kanpur
• Indian Statistical Institute, Kolkata
• Ravenshaw University, Cuttack, Orissa

Top Courses to Pursue in Economics

There are many courses that come under economics at under graduation level (UG level), Post-graduation level (PG level), and a Ph. D level to have multiple career scopes in Economics:

Economic Courses at the UG level

• Bachelor in Business Economics
• Bachelor of Arts (Hons) in Business Economics
• B.Com in Business Economics
• B.Com (Hons) in Business Economics
• BBA Business Economics

Economics courses at PG Level

• M.A in Financial Economics
• M.A in Economics
• M.A in Econometrics
• M.A in Business Economics
• M.A in Applied Economics
• Master of Science in Economics
• MBA in Business Economics
• Master of Philosophy in Economics

Economics Courses at Ph.D. level

• Ph.D. in Economics
• Ph.D. in Econometrics

Now you have detailed information on Career Scope in Economics in India. For any confusion, ask us in the comment section. We are always ready to solve your issues.

FAQs Related to Career Scope in Economics

Is economics a good career.

Yes, it is a good career. An economics graduate will have some unique and highly sought-after skills and in most cases, employment prospects are good. A lot of professionals in banking and accountancy hold economics degrees. For any career related to finance, an economics degree is a good foundation to build on.

Is economics a useless degree?

It’s definitely not useless, and may actually be preferable to other degrees of similar nature. Economics is very rarely more versatile than something like accounting, even finance in many cases. You will find a vast Career Scope in Economics

How much Maths is involved in studying Economics?

It’s a common question faced by many students. If you’re not very proficient in Mathematics, you may wonder whether Economics is a good choice, and exactly how much Mathematical aptitude you would require.

What is the difference between B.A. Economics, B.A Business Economics and B.Sc Economics?

The similarity of the names of the courses may have confused your mind. Here is a brief guide outlining the basic differences between the courses.   B.A Economics It is a course focused on the core fundamentals of Economics, its theories, and applications. It covers both qualitative and quantitative courses in Economics like Microeconomics, Macroeconomics, Econometrics, Economic Statistics, History of Economics, Indian Economy, etc.   B.A Business Economics It is a commerce-oriented multidisciplinary field that focuses on the application of economics to business. The themes of this course vary from organizational behavior, financial management, and cost accounting to business communication, macro and micro aspects of economics, marketing, etc.   B.Sc Economics The syllabus and pattern of this course are similar to B.An Economics. The subtle difference is that B.Sc Economics has more practical lessons, and statistics and mathematics are studied at a more advanced level.

What is the Scope of Economics?

Go through the above blog for the complete list of the scope of economics.

What to do After MA in Economics?

Candidates with a master’s degree in economics should look for jobs that rank high on the list. Economist. Market Research Analyst. Credit Analyst. Statistician. Financial Analyst.

We have covered a detailed guide on Career Scope in Economics. If you have any queries, feel free to ask us in the comment section below.

19 thoughts on “Career Scope In Economics: Jobs Opportunities, Salary & Growth”

I did master in economics..what is good scope to get job ..

You can go for UGC NET Exam. It will provide you a better career scope.

hello sir, I’ve bought NTA UGC NET Course from Anujjindal

Is it good or not? please recommend…

Keep Checking UGC NET Study Materials Related Blogs Here: https://www.kopykitab.com/blog/ugc-net-study-materials/

Thanks you and I admire you to have the courage the talk about this,This was a very meaningful post for me.

Thank You So Much For Your Feedback, Keep Checking Economics Related Materials Here: https://www.kopykitab.com/Commerce-And-Economics

Best article for career opportunities in economics after doing graduation in b.com honours.

Thank You So Much For Your Feedback

It is very useful for me, thanks a lot.How can I get M A admission in Delhi school of economics and what is the proceedure for it?

Thank you So Much For Your Feedback. For M.A Admission in Delhi School of Economics, you must have completed graduation with a degree in B.A. in Economics and should have aggregate marks not be less than 60 per cent. Also, you need to give an entrance test for the same. For complete details, Check out an official link: http://econdse.org/

Is it correct to do CA and b.sc economics together

No, both are two completely different things… you can’t do both at the same time because both are very difficult to do together.

Thank you so much.

Thank You Purnima:)

It is very useful for me thanks a lot

Welcome Anjali:)

I am doing b.el.ed with economics.what are the career opportunities other then teacher,for me.

Hey Muskaan

Some of the career opportunities after completing B.El.Ed Economics, you can opt for are Career Counsellor, or Education Developer

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Top 10 Career Opportunities in India after PhD in 2024

Table of Contents

PhD holders have a variety of career options in India. Some of the top opportunities for those with PhD degrees include teaching and research academics, research assistant at an educational institution, technical advisor and management consultant, marketing analyst, regulatory affairs professional and research associate in industry. Let’s explore the Top 10 Career Opportunities in India after PhD

Know the top 10 careers in India after a PhD

Career opportunities in India after PhD are many and varied. Here is a list of the top 10 careers in India after PhD:

• Academia: A career in academia is among the most popular choices for Indian PhD holders. There are plenty of opportunities for teaching and research at universities and colleges across the country.
• Government: A career in government offers stability, good pay and a chance to serve the nation. There are many openings for PhD holders in various ministries and departments.
• Corporate sector: The corporate sector offers exciting challenges and reasonable remuneration. Many Indian companies are now looking for talented PhD holders to join their ranks.
• Consultancy: A career in consultancy provides an opportunity to use one’s expertise to solve client problems. This can be an exciting and well-paid option for Indian PhD holders.
• NGOs: Non-governmental organizations offer a chance to work on important issues affecting society. Many NGOs are working on various topics, such as education, health, environment, etc., which need the expertise of Indian PhD holders.
• Media: A media career provides an opportunity to share knowledge with a broad audience through print, television or radio channels. This can be a very satisfying career option for those with good communication skills.
• Banking and finance: The banking and finance sector always looks for talented individuals with strong analytical skills. A career in this sector can be very lucrative for Indian PhD holders.
• IT and software: The IT and software industry is one of the fastest-growing sectors in India. It offers many exciting opportunities and lucrative salaries for those with expertise in this field.
• Manufacturing: A career in manufacturing offers a chance to be involved in producing goods and products. This can be a very challenging and rewarding option for Indian PhD holders.
• Entrepreneur: If you want to start your own company, possessing an advanced terminal degree like a PhD will give you the extra edge to make your company successful.

What is the average salary in India?

The average salary for a PhD holder in India is around Rs. 24 lakhs per annum. However, this amount can differ based on the employer, sector and work city. For example, the average salary of 10 years of experienced IT professionals is around 40 Lakhs per annum.

A fresher with a PhD degree can expect a starting salary of Rs 8 to 12 Lacs per annum.

How to increase your chances of getting a job in India

If you want to increase your chances of getting a job in India after completing your PhD, you can do a few things:

• Make sure to network with as many people as possible. Get in touch with your professors and other professionals who can help you connect with potential employers.
• Consider relocating to India if you are not residing in India. This will give you a better chance of becoming familiar with the culture and customs, making it easier to find a job.
• Be patient and persistent in your job search.

It may take some time to find the correct position, but if you keep looking, you’re sure to find something that’s a good fit for you.

What is the career outlook for PhD holders in 2024?

In India, a PhD holder has better job prospects than someone who only holds an undergraduate degree. This is because the unemployment rate for PhD holders in India is below 1%, while the overall unemployment rate in India is around 7%. This means that PhD holders have a significant advantage in finding a job in India.

There are many reasons why the career outlook for PhD holders is so good in India.

First, the Indian economy is snowballing, and there is a significant demand for skilled workers.

Second, the Indian government has committed to increasing the number of PhD holders in the country. As a result of these initiatives, the number of PhD holders in India is expected to grow significantly over the next few years.

So what does this mean for you? If you are considering pursuing a PhD in India, now is a great time to do it! Many opportunities are available for those with advanced degrees, and the future looks bright for PhD holders in India.

Is it easier to find a career opportunity with a PhD degree?

Many career opportunities are available for those with a PhD degree in India. The Indian job market is growing, and there is a demand for skilled workers with advanced degrees. Many companies are looking for employees with a PhD degree, so it is easier to find a career opportunity with a PhD degree than without one. There are many different types of jobs available for those with a PhD degree in India, so you should be able to find a position that suits your skills and interests. In addition, with a PhD degree, you will be able to command a higher salary and have more job security than those without a doctoral degree.

Conclusion - Top 10 Career Opportunities in India after PhD in 2024

If you’re a DBA looking to move up the management ladder, you can do a few things to make the transition smoother:

• Brush up on your business skills. Senior leaders need to understand and communicate complex business issues, so if your business acumen is rusty, it is time to polish it up.
• Don’t be afraid to take risks.

Moving from middle management to senior leadership is a big jump, but it’s also an exciting opportunity to put your stamp on an organization. So go out there and seize it!

Doctor of Business Administration (DBA) degree to solve business challenges

If you want a DBA in India, We recommend the  International American University-Los Angeles (IAU LA) DBA   or  DM  degree powered by Gururo, as it’s an excellent choice for driven executives.

It is the most effective way to continue scaling the corporate ladder without sacrificing continuity in career or time.

• Made for working professionals: you will get your DBA within three years without having to leave your job and spend five years getting a doctorate on campus. A Doctor of Management will be even faster to acquire.
• Outcome-driven: you can focus on any of our specializations and build your expertise where it will make the highest impact on you
• Highly engaging and intellectually stimulating : You will learn from excellent professors and have 1:1 support on your thesis. You will receive lectures and experience from American professionals.
• Enormous ROI : thanks to Gururo’s approach to democratizing higher education, you pay only a fraction of an old-school doctorate and reap the rewards nonetheless
• Worldwide network: You will join a classroom with students worldwide and share multicultural experiences. You will be able to create forever friendships, which will also help you reap benefits.
• American Dream: After completing IAU online degree, you have the opportunity to come to the USA on an F1 visa to study in Los Angeles. Graduate degrees from IAU allow for faster processing for lawful permanent residence.

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Home  >  News & Articles  >  PhD in Economics: Courses, Syllabus, Top Colleges, Scope & Salary 2023

Imtikokba Jamir

Updated on 18th August, 2023 , 8 min read

PhD in Economics: Courses, Syllabus, Top Colleges, Scope & Salary 2023

The  full form  of PhD in Economics is Doctor of Philosophy in Economics. It is a  3–6 year doctoral  course. A PhD in Economics typically focuses on developing expertise in economic theory, quantitative methods, research skills, and the ability to contribute original knowledge to the field through a doctoral dissertation.

The admission into this course is done after students clear an entrance exam, followed by a group discussion and personal interview. PhD in Economics entrance exam includes GATE, UGC NET, GRE, and JCECE.

The eligibility  into  PhD in Economics i s that a student must have earned at least 55% on their master's in economics or a related field from a recognized university. 

PhD in Economics  fees is INR 80,000 – 6 Lakhs. Some of the top PhD in Economics colleges are Banaras Hindu University , University of Delhi , Aligarh Muslim University and Amity University among others. 

PhD in Economics  syllabus  includes topics on Agricultural Economics, Financial Economics, International Economics, and more.

PhD in Economics jobs include University Professor, Research Economist, Policy Analyst, Economic Consultant, Financial Economist, International Economist, Environmental Economist and Development Economist. PhD in Economics salary   ranges from INR 8 – 20 LPA. 

Some of the top recruiters for this course are Google, Microsoft, TATA, Infosys, Wipro, IBM, Amazon , Apple etc. 

PhD in Economics: Course Highlights 

Why Pursue PhD in Economics?

Pursuing a PhD in Economics can be a rewarding and intellectual pursuit for many reasons:

• Economics Competence: By earning a PhD in Economics, one can become proficient and knowledgeable in economic theory, quantitative methods, and empirical analysis. 
• Knowledge Contribution : PhD in Economics candidates can contribute new perspectives and information to the field of economics as each dissertation is on a new topic. 
• Research-Oriented Careers:  A PhD is frequently required for positions in academia as university professors or researchers. It enables people to instruct and guide the upcoming generation of economists, as well as open doors to important organizations.

Why Should pursue PhD in Economics?

PhD in Economics is the perfect course for people who are passionate about economics and research.  However, it might be a good fit for the following potential candidates:

• Dedicated to Economics:  People are more likely to succeed in a Ph.D. program if they truly love economics, its theory, and its practical applications. 
• People Who Are Research-Oriented:  This field is best suited for those who take pleasure in studying, developing theories, and investigating economic issues through quantitative approaches.
• Long-Term Commitment:  Earning a Ph.D. in Economics requires endurance and dedication over the course of several years. Candidates should be ready to put in the time and overcome the difficulties associated with conducting original research and writing a dissertation.

PhD in Economics: Course Duration

A PhD in Economics is a prestigious and advanced academic program that offers in-depth exploration and expertise in various aspects of economics, business, and related fields. This program is designed for individuals who aspire to make significant contributions to the field through original research, critical analysis, and scholarly inquiry. The course duration for a PhD in Economics in India typically ranges from 3 to 6 years, during which students engage in a comprehensive journey of learning, discovery, and intellectual growth.

PhD in Economics : Fees

PhD in Economics in India normally costs anywhere between   INR 80,000 – 6 Lakhs . Depending on the university, college, and region, different  PhD in Economics programs may have different costs. Given below is an overview of the fees for this course. 

• Government Colleges/Universities: In comparison to private colleges, the cost of a PhD in Economics at government institutions is significantly lower. The annual fees for students in the general category might be anywhere from INR 50,000 – 2.5 Lakhs per year. 
• Private Colleges/Universities: The fee in a private institution is generally higher and can also vary depending on the college's standing and location. The costs typically range from INR 80,000 - 40 Lakhs or more.

Note: Students in the reserved categories (SC/ST/OBC/EWS) may pay less in tuition or be eligible for fee exemptions or grants in both government and private institutions.

PhD in Economics : Top Colleges 

Given below is a list of the top colleges that offer  PhD in Economics in India along with their fees:

PhD in Economics: Admission Process

It is highly recommended that aspirants score well in their postgraduate examinations and prepare well for the entrance exam. Given below is an overview of the admission process for PhD in Economics:  

• An aspirant should score more than 50-55% marks in their postgraduate examinations  to be applicable for PhD in Commerce. 
• Apply to the desired college through their official website or by physically visiting the institution and filling out the application form.
• Make sure to check the eligibility criteria and have all the required documents (10th and 12th Certificates, Undergraduate degree, Aadhar Card, Photographs, etc.) in hand.  
• Once the form is complete, the candidate will be asked to pay a minimal amount of application fee. 
• The University may conduct  NET, DET, MAT, DAT CSIR-UGC NET, UGC NET,  or any state/national level entrance exam that the candidate must clear.
• It is advised to check the website regularly for updates on the admit card, entrance exam, and entrance exam syllabus. 
• Admit cards will be issued to all the eligible students which will have important information such as the date of the examination, examination center, and timings. 
• The college/university will then publish lists according to their cutoff and seat availability. 
• Some Universities may conduct a Group Discussion followed by a Personal Interview to filter potential students. 
• If selected, a candidate should pay the course fee as soon as possible and attend the orientation/counseling organized by the college for further information.

PhD in Economics: Eligibility

• Candidates must have completed a postgraduate degree in Economics or a related degree from a recognized university listed under the UGC/AIU with a minimum aggregate of 55 percent and above.
• It is advantageous to the program if you have 4 years of relevant professional experience in either teaching or administration.
• Group Discussions and Personal Interviews will also be held at some reputable institutions and universities.

PhD in Economics: Entrance Exams

• IIM Ph.D. test  
• JCECE (Jharkhand Combined Entrance Competitive Exam)  

PhD in Economics: Entrance Exams Syllabus

PhD in Economics entrance exam syllabus may vary slightly depending on the college or university. However, here are some common topics that are usually included in the syllabus:

PhD in Economics: Subjects

A PhD in Economics program typically offers a range of subjects and areas of specialization that can vary based on the university, faculty expertise, and research. Here are some common subjects and areas of specialization that one might find in a PhD in Economics program:

PhD in Economics: Syllabus

PhD in Economics syllabus will vary from college to college; however, given below is an overview of the topics in each semester and year:

PhD in Economics: Recommended Books 

Given below are the names of some recognised books along with their authors in the field of Economics that a candidate must read to gain further knowledge in the course: 

PhD in Economics: Jobs 

A PhD in Economics opens a wide range of job opportunities in business and related fields. Given below is an overview of some of the key job roles that PhD in Economics graduates can explore:

PhD in Economics: Salary

PhD in Economics salary   ranges from INR 8 – 20 LPA.  This can vary widely based on factors such as job role, years of experience, geographical location, company size, and industry sector. Below is a general salary overview for some key job roles in holding a PhD in Economics: 

PhD in Economics: Top Recruiters

• Reserve Bank of India (RBI)
• Indian Council for Research on International Economic Relations (ICRIER)
• Ministry of Finance
• Ernst & Young
• Google 
• Infosys 

PhD in Economics: Scope 

A PhD in Economics offers a wide range of opportunities across academia, research, government, international organizations, and various industries. With expertise in economic theory, data analysis, and policy evaluation, PhD economists play a crucial role in shaping economic policies, influencing business strategies, and addressing societal challenges on local and global scales.

A PhD in Economics also provides a strong foundation for further education and advanced research. Graduates can pursue postdoctoral positions to delve deeper into specific research areas, collaborate with renowned economists, and publish groundbreaking research papers. Additionally, a PhD serves as a stepping stone for those interested in interdisciplinary studies, allowing them to explore fields such as public policy, social sciences, environmental economics, and more. 

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PhD in Commerce: Fees, Syllabus, Eligibility, Top Colleges, Salary 2024

Frequently Asked Questions

What is a ph.d. in economics.

The highest academic degree available in economics is a Ph.D., which emphasizes advanced study and specialized understanding in economic theory, policy analysis, and empirical research.

How long does it take to complete a Ph.D. in Economics?

A Ph.D. in Economics normally takes between three and five years to complete, depending on the university and the student's progress.

What are the eligibility criteria for a Ph.D. in Economics?

Candidates often require a master's degree in economics or a closely related discipline, as well as a strong academic record. Additionally, exceptional applicants with a bachelor's degree might be accepted by some colleges.

What entrance exams are required for Ph.D. in Economics admissions?

Common entrance exams include the UGC NET in Economics, GATE (Economics), JNU Entrance Exam, and the ISI Admission Test.

What is the scope of a Ph.D. in Economics?

A Ph.D. in Economics can lead to employment in academia, research facilities, economic consulting firms, governmental organizations, and international organizations, among other professional pathways.

Can international students apply for Ph.D. in Economics programs in India?

Yes, a lot of Indian institutes accept applications from students from other countries. They might also need you to take tests like the TOEFL or IELTS to prove your English competence.

What is the average stipend or financial support for Ph.D. students in Economics?

Universities offer different financial assistance and stipends. To help Ph.D. students in their studies, several schools provide research assistantships, scholarships, or teaching assistantships.

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List of Govt Jobs After PhD

Ahana Bhaduri

Mar 13, 2024

Over the years the number of PhD aspirants in India has proliferated to a considerable extent. There are ample government job opportunities available for candidates who have pursued or are pursuing PhD degrees across various disciplines.

These jobs not only offer a lucrative pay package but also stand out in terms of various added benefits and positives. Starting from teaching across various government led colleges, to conducting research candidates can choose from various categories and sectors as per their niche and interests.

Read More: Current Affairs for Government Jobs

Some of the top government job opportunities that can be availed by candidates after pursuing PhD degrees are discussed below along with their necessary prerequisites and other eligibility criteria.

Also Check: Sarkari Naukri 2022

PhD Govt Jobs

Amongst the various jobs that can be availed after completing a PhD degree, candidates can choose to teach across any government led colleges and universities or can also choose to become Scientists. Infact becoming a Professor or Scientists are usually the top most choices for candidates after completing their PhD degrees. There are entrance exams such as UGC CSIR NET and GATE that are conducted to enroll candidates across various disciplines for both teaching and research.

However, some of the other government jobs that can be availed by anyone including a PhD candidate are tabulated below for your reference. Read More: Practice Daily Current Affairs Quiz and Prepare Current Affairs

Government Jobs After PhD

Some of the top government jobs that can be availed after completing PhD degrees along with their necessary prerequisites and other eligibility criteria are discussed below for your reference. Read More: Latest Employment News

Assistant Professor

• Candidates must complete their class 12 board exams from a recognized board with an average aggregate score of 60% and above
• They must complete their graduation and postgraduation in relevant field from a recognized university with a minimum score of 55% and above
• They must be pursuing or have pursued a PhD degree in a related field from a recognized university.
• They must publish a minimum 3 research works across journals or publications.
• They must maintain a consistently sound academic record throughout.
• Entrance Exams: The entrance exams that are conducted to enroll candidates for Assistant Professor positions are tabulated below for your reference,

• The primary job of an Assistant Professor is to teach and impart knowledge to their students
• They are also in charge of conducting research and publishing its result across various journals
• They guide students and also provide public, departmental and university service
• Grade Pay: The average grade pay of an Assistant Professor is INR 7,000 per month.
• Eligibility Criteria: Candidates aspiring to become Professor should first complete their graduation in any field (preferably the subject that they want to teach or specialize in) from a recognized University with a minimum score of 45% aggregate marks or equivalent CGPA. After completing graduation they must pursue a postgraduate degree in a relevant field with a minimum score of 50% aggregate marks. Though it is not a mandatory aspect, some colleges hire candidates who have cleared NET, GMAT for the post of Professors. However it is advisable that students pursue PhD in related subjects for a hassle free career.
• Entrance Exams: Professors are also required to clear various entrance exams such as NET, GMAT, CSIR UGC-NET , NBHM Entrance Exams etc. Professors are incharge of teaching or imparting knowledge about the concerned subject of their specialization to students who have opted for that particular field of study.
• The primary job of a Professor is to teach and impart knowledge to their students
• Grade Pay: The average grade pay of a Professor in India is INR 8,000.

Associate Professor

• Candidates must complete their class 12 board exams from a recognized board with an average aggregate score of 60% and above.
• They must complete their graduation and postgraduation in a relevant field from a recognized university with a minimum score of 55% and above.
• Entrance Exams: The entrance exams that are conducted to enroll candidates for Assistant Professor positions are tabulated below for your reference.

• Teaching various lectures and seminars, going to conferences, doing research, and overseeing students are all duties of the Associate Professor.
• Candidates should be able to work with others, provide guidance to teaching assistants, and handle a variety of administrative duties.
• Grade Pay: The average grade pay of an Associate Professor is INR 9,000 per month.

Head of the Department

• Candidates must complete their PhD degree from a recognized University.
• They must have substantial working experience for a minimum of 15 years in their field of study.
• Candidates must qualify the UGC NET entrance exams for becoming an HOD across any streams and departments.
• Entrance Exams: The entrance exams that must be taken in order to become an HOD are UGC NET, UGC CSIR NET or GATE.
• To ensure that the department runs smoothly and that a consistent academic environment is provided.
• To lead and inspire all departmental employees so that the students can receive expert instruction in the subject in a supportive, productive environment.
• Grade Pay: The average grade pay of an HOD is 10,000 per month.
• Candidates should be 28 years of age or lower.
• However there are age relaxations for candidates from SC / ST / OBC and other backward classes.
• Candidates must complete their post graduate and PhD degree from a recognised university with minimum first class i.e. 60% and above aggregates or equivalent CGPA.
• Entrance Exams: Scientists across various domains under government organizations are selected on the basis of the various entrance exams that they have cleared such as NEET, NATA, JEE Main, JEE Advanced etc. Aspirants who have completed their PhD degree in Physics or relevant subjects are eligible to become Scientists.
• Making proposals for research.
• Organizing and carrying out experiments.
• Gathering samples
• Monitoring research.
• Data collection and analysis.
• Collaborating with academics and other researchers to create novel methods and goods.
• Grade Pay: The average grade pay for Scientists usually is INR 5,400 per month.

PhD Govt Jobs: FAQs

Ques: Can I do a govt job with a PhD?

Ans: Yes, you can pursue a PhD. However, you must first obtain approval from the relevant departmental authority. If you have permission, you are able to pursue a doctorate as long as your work obligations are not jeopardized.

Ques: What jobs will get for PhD?

Ans: Some of the top jobs after Phd are,

• Government Jobs.
• Entrepreneur.
• Consultancy.
• Digital Media Company.
• Research Associate.
• Product Manager

Ques: What is the salary after PhD?

Ans: The average salary after completing a PhD degree ranges from INR 12 L - 15 L annually.

Ques: What are the benefits of PhD?

Ans: Some of the top benefits of pursuing a PhD are,

• Having your own business. Nothing, especially in the arts and humanities, indicates independent research like a PhD.
• Indulge in your passions.
• CV-boosting activities.
• Income assurance for three years.
• Getting to use the title "doctor"

Ques: What is the value of PhD?

Ans: The majority of roles in industry and employment require a PhD. A PhD is essentially a degree in knowledge when you break it down. Your knowledge-acquisition capacity and practical application skills make up your skill set.

Ques: Which degree is higher than PhD?

Ans: The Doctor of Education is technically higher than the PhD

Ques: What is the salary of a PhD professor in India?

Ans: The average salary of a PhD professor in India ranges from INR 9.50 L - 17 L annually

Ques: Does PhD increase salary?

Ans: In terms of money, applicants with a master's or PhD degree typically earn higher incomes than those with merely an undergraduate degree in all industries, with the pharmaceutical and healthcare sectors paying master's degree holders the highest average reported salaries.

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MA Economics Career Opportunities

• Admission Process
• Popular Colleges
• MA Economics Jobs Overview

Master of Arts (MA) in Economics opens up a wide array of job opportunities across various sectors. Economists with this degree are equipped with analytical and quantitative skills that are highly valued in today's global economy.

One common career path for MA Economics graduates is in the field of finance. They can work as financial analysts, investment bankers, or risk managers, analyzing market trends and making informed financial decisions. Additionally, they are well-suited for roles in government agencies, where they can contribute to economic policy development and data analysis.

Corporations also seek economists to help with pricing strategies, market research, and forecasting demand. Consulting firms often employ MA Economics graduates to provide expert advice on economic issues to clients. Moreover, academia offers opportunities for those interested in research and teaching.

MA in Economics provides graduates with a versatile skill set that is in demand across industries, making it a valuable qualification for a diverse range of career paths in both the public and private sectors.

Table of Contents

Ma economics jobs highlights, top ma economics job profiles, top academic courses to pursue after ma economics, career opportunities after ma economics, top companies hiring ma economics graduates, faqs about ma economics jobs.

Here's a table highlighting the important aspects of MA Economics jobs in India:

These aspects provide a snapshot of the job landscape for MA Economics graduates in India, showcasing the diverse career options and potential for growth in this field.

Here are some of the top job profiles for individuals with a Master of Arts (MA) in Economics:

Economist: Economists analyze economic data, trends, and policies to provide insights into various economic issues. They work in government, academia, research institutions, and private organizations.

Financial Analyst: Financial analysts assess investment opportunities, analyze financial data, and make recommendations for investment strategies. They work in banks, investment firms, and corporate finance departments.

Policy Analyst: Policy analysts research and evaluate government policies and their impact on the economy. They often work in government agencies, think tanks, and advocacy organizations.

Data Analyst: Data analysts collect, process, and analyze data to identify trends and make data-driven decisions. In economics, they often work with economic data to derive insights.

Market Research Analyst: Market research analysts study consumer behavior and market trends to help businesses make informed decisions about products and services. They use economic principles to understand market dynamics.

Risk Analyst: Risk analysts assess potential risks and their financial impact on organizations. They work in financial institutions, insurance companies, and corporate risk management departments.

Investment Banker: Investment bankers assist companies in raising capital, mergers and acquisitions, and financial advisory services. A background in economics is valuable for understanding market dynamics.

Consultant: Consultants provide expert advice to businesses and organizations on various economic issues, such as pricing strategies, market entry, and competitive analysis. They often work in consulting firms.

Lecturer/ Professor: MA Economics graduates can pursue a career in academia, teaching economics at colleges and universities, and conducting research in their area of expertise.

International Development Specialist: Specialists in international development work with organizations like the United Nations or NGOs to address global economic and social challenges, such as poverty reduction and sustainable development.

These job profiles highlight the versatility of an MA in Economics, offering opportunities in diverse sectors including finance, government, research, and academia. The choice of career often depends on individual interests and skills.

After completing a Master of Arts (MA) in Economics, you have various options for further academic courses that can enhance your knowledge and career prospects. The choice of course depends on your interests and career goals. Consider taking these top academic courses:

PhD in Economics:

Pursuing a Doctor of Philosophy (PhD) in Economics allows you to specialize in a particular area of economics and conduct original research. This advanced degree is essential for academic careers and research positions in think tanks, government agencies, and international organizations.

Master's in Finance or Financial Economics:

If you want to transition into the finance industry, a Master's in Finance or Financial Economics can provide you with the quantitative skills and knowledge needed for roles in banking, investment management, and corporate finance.

Master's in Public Policy or Public Administration:

These programs are ideal if you are interested in public policy analysis, government roles, or working for non-profit organizations. They provide a comprehensive understanding of policy-making and implementation.

Master's in Data Science or Applied Economics:

With the increasing importance of data analysis in economics, pursuing a Master's in Data Science or Applied Economics can equip you with the skills to work as a data analyst, econometrician, or economic consultant.

Master's in International Relations or International Development:

If you're interested in global economics, international relations, or development economics, these programs can provide you with a deeper understanding of global issues and policy analysis.

Master's in Business Administration (MBA):

An MBA program can be a valuable choice if you want to explore managerial and leadership roles in various industries, including finance, consulting, and entrepreneurship. It combines business and economics knowledge.

Chartered Financial Analyst (CFA) Program:

If your focus is on finance and investment management, pursuing the CFA designation can be an excellent choice. It's a globally recognized qualification for finance professionals.

Graduate Programs in Econometrics or Applied Statistics:

For those interested in quantitative research and data analysis, programs specializing in econometrics or applied statistics can be beneficial for careers in academia and research.

Certificate Programs in Specific Economic Topics:

Consider short-term certificate programs in areas such as environmental economics, behavioral economics, or health economics to deepen your expertise in a specialized field.

Professional Development Courses:

Depending on your career goals, you can also enroll in professional development courses, workshops, or seminars related to economic policy, financial analysis, or data analytics to stay updated with industry trends.

Remember to align your choice of further education with your career objectives and interests. Networking and internships in your chosen field can also play a crucial role in advancing your career after completing your MA in Economics.

After completing a Master of Arts (MA) in Economics, you'll have a wide range of career opportunities available to you in both the public and private sectors. The skills and knowledge you gain during your MA program can be applied to various roles and industries. These are some job options for you to think about:

Economist: This is the most direct career path for economics graduates. Economists analyze economic data, trends, and policies to provide insights and forecasts. They can work in government agencies, research institutions, financial institutions, or as independent consultants.

Financial Analyst: Financial analysts assess investment opportunities, study financial statements, and make recommendations to clients or their organizations. They are often employed in the banking, investment, and corporate sectors.

Policy Analyst: Policy analysts work in government agencies, think tanks, or advocacy organizations to research and analyze policy issues. They help shape public policy by providing data-driven recommendations.

Data Analyst/ Statistician: With strong quantitative skills gained during your MA, you can work as a data analyst or statistician. These professionals use data to draw conclusions, make predictions, and inform decision-making in various industries, including finance, healthcare, and marketing.

Market Research Analyst: Market research analysts study market conditions, consumer behavior, and industry trends to help businesses make informed decisions about products, services, and marketing strategies.

Financial Planner/Advisor: Financial planners and advisors help individuals and organizations with financial planning, investment strategies, and retirement planning. Your economic knowledge can be valuable in this field.

Teaching and Academia: If teaching and research are your passions, you can work in academia. This involves becoming a professor or lecturer at a university or college, where you teach economics and conduct research.

International Organizations: Organizations like the United Nations, World Bank, International Monetary Fund (IMF), and World Trade Organization (WTO) employ economists to work on global economic issues and development projects.

Private Sector: Many private companies, especially those in industries such as consulting, finance, and data analytics, value the analytical and problem-solving skills of economics graduates. You can work in roles related to strategic planning, risk assessment, or business analysis.

Government Roles: Besides policy analysis, you can work in various government positions, such as budget analysts, research analysts, or economic development specialists.

Nonprofit Sector: Nonprofit organizations often need economists to assess the impact of their programs, conduct research, and advocate for policy changes.

Entrepreneurship: If you have an entrepreneurial spirit, your economics background can be beneficial for starting your own business or consultancy, especially if your business idea is related to financial services, market research, or economic analysis.

Environmental Economics: Specialize in environmental economics to work on sustainability and conservation initiatives, helping organizations and governments make environmentally responsible decisions.

To enhance your career prospects, consider gaining practical experience through internships or part-time jobs while pursuing your MA, and stay updated on industry trends and economic developments. Networking and building a strong professional network can also open up opportunities in your chosen field.

MA Economics graduates are in demand across various industries, including finance, consulting, government, and academia. Here are some top companies and organizations that often hire MA Economics graduates:

Federal Reserve System: The Federal Reserve banks and the Board of Governors often hire economists to conduct research, analyze economic data, and formulate monetary policy.

International Monetary Fund (IMF): The IMF employs economists to work on international monetary and financial stability, economic analysis, and policy advice for member countries.

World Bank: The World Bank hires economists to work on global development projects, poverty reduction, and economic research.

United Nations: The United Nations employs economists in various specialized agencies, such as the United Nations Development Programme (UNDP), to address global economic and development issues.

JP Morgan Chase: Major financial institutions like JPMorgan Chase often hire economists for roles in economic research, risk analysis, and investment strategy.

Goldman Sachs: Investment banks like Goldman Sachs offer opportunities for economists in areas such as financial analysis and market research.

McKinsey & Company: Top management consulting firms like McKinsey often recruit economists to provide strategic advice to clients across industries.

Deloitte: Deloitte hires economists for roles in economic and statistical analysis, economic consulting, and public policy analysis.

PricewaterhouseCoopers (PwC): PwC's economics and analytics division offers career opportunities for economists in areas such as economic modeling, data analysis, and financial consulting.

Amazon: Tech giants like Amazon often hire economists for positions related to data analysis, market research, and pricing strategy.

Google: Google employs economists for roles in economic research, data analysis, and policy analysis, especially in its economic policy team.

US Department of Commerce: Government agencies like the US Department of Commerce hire economists for various roles, including economic analysis, trade policy, and data collection.

US Bureau of Labor Statistics: This agency employs economists to gather and analyze labor market data and provide economic statistics to the public.

Consulting Firms: Apart from McKinsey and Deloitte, other consulting firms like Boston Consulting Group (BCG), Bain & Company, and Accenture often hire economists for their analytical and strategic consulting services.

Academic Institutions: Universities and colleges worldwide hire MA Economics graduates for teaching and research positions. Consider pursuing a PhD if you aspire to a tenure-track academic career.

Nonprofit Organizations: NGOs and nonprofit organizations such as Oxfam, Save the Children, and the Bill & Melinda Gates Foundation often hire economists for research and policy analysis related to global development and social issues.

Keep in mind that the availability of job opportunities may vary depending on your location and the specific skills and interests you have developed during your MA Economics program. Networking and leveraging university career services can also help you identify job openings and connect with potential employers.

Is it common for MA Economics graduates to pursue further education, such as an MBA?

Yes, it's common for MA Economics graduates to pursue further education, including an MBA. Many choose this path to complement their economics knowledge with business and management skills, enhancing their career prospects in finance, consulting, or leadership roles. An MBA offers a well-rounded skill set and broader career opportunities.

Are there opportunities to work internationally with an MA Economics degree?

Yes, MA Economics graduates have excellent opportunities to work internationally. They can find employment with international organizations like the IMF, World Bank, United Nations, and global consulting firms. Their expertise in economic analysis and policy can be applied to address international economic and development issues in various countries and regions.

Can I work as a school teacher after completing MA Economics?

Yes, you can work as a school teacher after completing an MA in Economics, especially if you obtain a teaching certificate or relevant credentials. Many schools hire economics teachers to educate students on economic principles and concepts. However, specific requirements may vary by location and institution.

Can I become a professor after MA Economics?

Yes, you can become a professor in India after completing an MA in Economics. However, to secure a university teaching position, pursuing a PhD in Economics is typically required. A PhD provides the necessary research and academic qualifications for professorial roles in Indian universities.

Can I work in the corporate sector with a MA Economics degree?

Yes, you can work in the corporate sector with an MA Economics degree. Many corporations value the analytical and problem-solving skills of economics graduates, making them suitable for roles in finance, data analysis, market research, and strategic planning, among others. Your degree can provide a strong foundation for corporate careers.

What are the jobs after a MA Economics degree?

After earning an MA in Economics, you can pursue roles such as Economist, Financial Analyst, Policy Analyst, Data Analyst, Market Research Analyst, Financial Planner, or work in academia, government, international organizations, or the private sector. These jobs involve economic analysis, research, policy development, and financial planning.

Can I get a bank job after MA Economics?

Yes, you can get a bank job after completing an MA in Economics. Many banks hire economists for roles in financial analysis, risk assessment, and economic research. Your analytical and quantitative skills acquired during your MA program will be valuable assets for such positions.

What are the government jobs after MA Economics?

After completing an MA in Economics, you can pursue government jobs such as economist, policy analyst, research officer, budget analyst, or data analyst in various government agencies and departments. These roles involve economic research, data analysis, and policy formulation to support government decision-making and public policy development.

Is MA Economics a good career option?

Yes, an MA in Economics is a promising career option. It equips you with valuable analytical and quantitative skills, opening doors to a wide range of opportunities in finance, government, consulting, academia, and more. The field's relevance in understanding complex economic issues ensures continued demand for economics graduates.  

Which course is best after MA Economics?

After completing an MA in Economics, pursuing a PhD in Economics or a related field is often considered the best course. It opens up opportunities in academia, research, and specialized roles, allowing for in-depth contributions to economic theory, policy, and practice.

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Top 10 Highest-Paying Government Jobs in India 2024

Top 10 lucrative government careers in india 2024.

Explore the diverse career paths and salary ranges in various government sectors through our engaging web story. From prestigious civil services like IAS and IPS to specialized roles in ISRO and RBI, discover the opportunities and earning potentials in public service careers.

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Indian Foreign Service (IFS)

IFS officers represent India abroad, manage international relations, and promote economic and cultural ties, holding positions like Ambassadors and Consuls General. Estimated salary: Rs 15 lakh - Rs 50 lakh per annum.

IAS & IPS

IAS officers oversee policy implementation and public service at central and state levels, while IPS officers maintain law and order and investigate crimes. Estimated salary: Rs 10 lakh - Rs 45 lakh per annum.

Indian Forest Service (IFS)

IFS officers protect and manage India's forests, wildlife, and environment, formulating conservation policies, overseeing sustainable development, and conducting forestry research. Estimated salary: Rs 10 lakh - Rs 40 lakh per annum.

Defence Services (Officers)

Officers in the Indian Army, Navy, and Air Force lead and manage their respective branches of the Indian Armed Forces. They ensure national security, border protection, and oversee strategic military operations. Estimated salary: Rs 8 lakh - Rs 35 lakh per annum.

Indian Economic Services (IES) and Indian Statistical Services (ISS)

IES officers analyze economic data, formulate policies, and advise on financial matters, while ISS officers collect, analyze, and interpret statistical data for government planning. Estimated salary: Rs 8 lakh - Rs 30 lakh per annum.

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Scientists at ISRO and DRDO conduct cutting-edge research in space technology, aeronautics, and defense systems. Their work encompasses innovation and development to advance India's capabilities. Estimated salary: Rs 7 lakh - Rs 30 lakh per annum.

State Services Commission Officers

Officers recruited by State Service Commissions hold administrative positions within state governments. Their roles vary depending on the department or service they join. Estimated salary: Rs 6 lakh - Rs 20 lakh per annum (Varies by state).

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RBI Grade B Officer

RBI Grade B Officers work with the Reserve Bank of India, formulating monetary policy, managing foreign exchange reserves, and regulating the banking sector. Estimated salary: Rs 10 lakh - Rs 25 lakh per annum.

Lecturers in Government Colleges

Government college lecturers teach undergraduate and postgraduate students across various disciplines. Their responsibilities include delivering lectures, conducting tutorials, and evaluating student performance. Estimated salary: Rs 5 lakh - Rs 18 lakh per annum.

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Home » Job Tips » Career Advice » Highest Paying Jobs After BBA

11 Highest Paying Jobs After BBA in India

As a recent Bachelor of Business Administration (BBA) graduate, you may be contemplating your next career move. As you step into the professional world, it is crucial to consider the plethora of opportunities available in the job market. A BBA degree provides a strong foundation in business and management principles. It also fosters critical thinking and problem-solving skills essential for any job role.  In this blog, we will delve into the highest-paying jobs for BBA graduates. We will also uncover their key responsibilities, average salaries, and the top hiring companies associated with these job roles.

Table of Contents

Highest Paying Jobs after BBA

BBA graduates possess a strong understanding of business development and management practices. This makes them ideal employees for various industries like banking, marketing, etc. To help you optimize your job search, here is a list of the highest-paying jobs after BBA in India: 

1. Investment Banker

An investment banker assists corporations, governments, and other entities in raising capital by underwriting and issuing securities. They also provide strategic advisory services for mergers, acquisitions, and other financial transactions. 

Investment bankers analyze market trends and develop financial models. They do so to ensure businesses have the necessary funds to grow and expand. They possess expertise in financial markets, strategic planning, and analytical skills. The demand for expertise in investment banking makes this job role one of the best-paying jobs for BBA graduates. 

Key Responsibilities

Here are the key responsibilities required for pursuing investment banking jobs:

• Facilitating mergers and acquisitions (M&A) by connecting potential buyers and sellers
• Advising companies on fundraising strategies and equity offerings
• Conducting financial analysis to evaluate the valuation of companies and assets
• Creating pitch books and presentations to pitch investment ideas to clients
• Negotiating terms and conditions of deals on behalf of clients

Top Hiring Companies: JP Morgen, Goldman Sachs, JP Morgen Chase & Co, Accenture, and Deutsche Bank

Average Salary Range: ₹2 LPA – ₹16.3 LPA 

2. Management Consultant 

The management consulting field offers high-salary jobs after BBA. The primary role of a management consultant is to offer expert guidance to organizations aiming to enhance their performance, efficiency, and profitability. They identify areas for improvement and devise strategic solutions to address business challenges. This involves gathering and interpreting data, presenting recommendations, and supporting the implementation of changes. 

Their role demands strong analytical, communication, and problem-solving skills . By providing unbiased insights and specialized expertise, they assist businesses in achieving their objectives and navigating complex obstacles.

Key Responsibilities 

Here are the key responsibilities required for pursuing management consulting jobs:

• Analyzing business operations, processes, and strategies
• Developing and implementing strategic plans and initiatives to address client needs and goals
• Providing expertise and guidance on organizational change management and transformation efforts
• Monitoring and evaluating the impact of implemented solutions and making adjustments as needed
• Creating detailed reports, presentations, and deliverables to communicate findings and recommendations

Top Hiring Companies: PwC, Deloitte, IBM, Infosys, and KPMG

Average Salary Range: ₹7 LPA – ₹24 LPA 

3. Marketing Manager

Marketing managers are responsible for developing and implementing marketing strategies to promote a company’s products or services. They conduct market research to understand consumer needs, identify target audiences, and analyze competitors. They also create campaigns that enhance brand awareness and drive sales. 

Additionally, they monitor the effectiveness of marketing efforts and adjust their strategies accordingly. If you want to pursue a career in marketing, consider enrolling in a digital marketing course with placement and gaining industry-relevant skills with the help of live projects. 

Here are the key responsibilities required for pursuing marketing jobs :

• Conducting market research to identify consumer needs, preferences, and trends
• Creating marketing campaigns, including advertising, promotions, and social media initiatives
• Collaborating with creative teams to develop marketing materials such as brochures, advertisements, and digital content
• Managing marketing budgets and allocating resources effectively
• Monitoring and analyzing the performance of marketing campaigns and initiatives

Top Hiring Companies: Amazon, TCS, Google, Cognizant Technology Solutions, and Infosys

Average Salary Range: ₹2.3 LPA – ₹13.2 LPA 

4. Human Resource Manager

Human resource management offers high-salary jobs after BBA in India. Human resource managers ensure the organization runs smoothly and maintains a productive workforce. They manage recruitment, hiring, and onboarding processes. They also ensure that the right talent is brought into the company. 

They are responsible for handling employee relations and addressing workplace conflicts. Their work also involves implementing policies that foster employee development and enhance job satisfaction. If you want to pursue a job in this dynamic field, consider enrolling in a human resource management course with placement . 

Here are the key responsibilities required for pursuing HR jobs : 

• Recruiting, interviewing, and hiring new employees
• Developing and implementing HR policies and procedures
• Conducting performance evaluations and providing feedback to employees
• Resolving workplace conflicts and addressing employee grievances
• Ensuring compliance with employment laws and regulations
• Facilitating employee training and development programs

Top Hiring Companies: Capgemini, Wipro, EY, PepsiCo, and Jio

Average Salary Range: ₹2.8 LPA – ₹12.9 LPA 

5. Project Manager

Project managers are responsible for planning, executing, and closing projects. They ensure that a project meets its goals within the given constraints of time, budget, and scope. They also coordinate with teams and manage resources to deliver successful outcomes. 

In India, it is one of the highest-paying jobs after a BBA due to the increasing need for effective project execution in various industries. Project managers also play a crucial role in driving projects toward successful completion and ensuring they meet business objectives. Their ability to do so makes them highly valuable and well-compensated professionals.

Here are the key responsibilities required for pursuing project management jobs :

• Creating project timelines, schedules, and budgets
• Identifying project risks and developing risk mitigation strategies
• Allocating resources and managing project teams
• Monitoring project progress and performance against established goals and metrics
• Resolving issues and conflicts that arise during the project lifecycle
• Ensuring that projects are delivered on time, within budget, and according to specifications

Top Hiring Companies: Genpact, Infoedge, Amazon, HCLTech, and Honeywell

Average Salary Range: ₹4.2 LPA – ₹17.1 LPA

6. Supply Chain Manager

Supply chain managers oversee and optimize the entire supply chain process. They coordinate logistics and manage relationships with suppliers. They also ensure efficient production and distribution of the products. They are responsible for streamlining operations, reducing costs, and improving overall supply chain performance.

In this age, efficient supply chain management significantly impacts a company’s profitability. It has resulted in a growing demand for skilled professionals in this field. As a result, supply chain management has become one of the best-paying jobs for BBA graduates in India.

Here are the key responsibilities required for pursuing supply chain management jobs :

• Overseeing procurement of raw materials and components from suppliers
• Managing inventory levels to ensure adequate stock while minimizing excess inventory
• Coordinating transportation and logistics to facilitate the movement of goods from suppliers to customers
• Monitoring and analyzing supply chain performance metrics, such as on-time delivery and inventory turnover
• Identifying and mitigating risks in the supply chain, such as supplier disruptions or transportation delays
• Ensuring compliance with regulations and standards such as quality control and sustainability requirements.

Top Hiring Companies: Unilever, HP Inc., Reliance Industries, Johnson & Johnson, and Procter & Gamble

Average Salary Range: ₹3 LPA – ₹16.4 LPA

7. Product Manager 

The product management field offers some of the highest-paying jobs after BBA in India. A product manager is responsible for the development and success of a product within a company. They oversee the product lifecycle, from ideation and design to launch and ongoing improvements. They also ensure that the product meets both customer expectations and business goals. 

If you want to pursue a career in this lucrative field of product management, you should consider enrolling in a product management placement guarantee course . This comprehensive program equips you with industry-relevant skills and ensures a job placement upon successful completion.

Here are the key responsibilities required for pursuing product management jobs :

• Conducting market research to identify customer needs and market trends
• Gathering and prioritizing product requirements from stakeholders, customers, and internal teams
• Creating user stories, wireframes, and product specifications to guide product development efforts
• Setting and tracking key performance indicators (KPIs) to measure the success of the product
• Iterating on the product based on user feedback, usage data, and market insights

Top Hiring Companies: Amazon, Oracle, Dell Technologies, Zoho, and Adobe

Average Salary Range: ₹5.5 LPA – ₹21.7 LPA

8. Financial Analyst 

Financial analysts review financial information to assist businesses and individuals in making well-informed investment decisions. They examine financial statements, market trends, and economic conditions to evaluate the performance of stocks, bonds, and other investments. They also develop forecasts and create financial models based on their analysis. 

Additionally, they contribute to strategic decision-making, risk management, and portfolio management in various sectors, such as banking, insurance, and corporate finance. Taking a financial modeling course can help you gain expertise in essential tools and investment decision-making techniques. This knowledge will be valuable for pursuing a career as a financial analyst.

Here are the key responsibilities required for pursuing financial analyst jobs: 

• Evaluating investment opportunities, including stocks, bonds, etc. 
• Performing industry and market research to identify trends and opportunities
• Preparing reports and presentations to communicate findings and recommendations to stakeholders
• Assisting in the development of financial strategies and plans to achieve business objectives
• Monitoring and analyzing financial data to identify risks and opportunities
• Providing support for budgeting, planning, and decision-making processes

Top Hiring Companies: American Express, Citi, JP Morgen Chase & Co, Goldman Sachs, and Barclays

Average Salary Range: ₹2 LPA – ₹12.2 LPA 

9. Operations Manager

An operations manager oversees the production and delivery of goods and services within an organization. They ensure that business operations run smoothly and efficiently. The manager is responsible for managing resources, coordinating between departments, and implementing process improvements. 

They also handle supply chain management, quality control, inventory management, and staff supervision. Their contribution to achieving organizational goals and maintaining high standards of service and product delivery is crucial. This role offers one of the highest-paying jobs after BBA because of its significance in overseeing intricate operational procedures.

Here are the key responsibilities required for pursuing operations management jobs:

• Developing and implementing operational policies, procedures, and standards
• Managing resources, including personnel, equipment, and materials, to optimize efficiency and productivity
• Monitoring and analyzing key performance indicators (KPIs) to assess operational performance and identify areas for improvement
• Planning and coordinating production schedules and workflows to meet customer demand
• Implementing quality control measures to ensure products or services meet established standards

Top Hiring Companies: Lenskart, Tata Motors, Adidas, PepsiCo, and Genpact 

Average Salary Range: ₹3 LPA – ₹14.2 LPA 

10. Business Analyst 

Business analysts assess business processes and strategies to identify areas for improvement and facilitate organizational change. They gather, analyze, and document business requirements to ensure solutions align with business objectives. They use various techniques, such as SWOT analysis and process modeling, to provide insights and recommendations that enhance efficiency and effectiveness. 

Enrolling in a business analytics course can offer you valuable knowledge and skills to kickstart your career in the field of business analysis. With the help of this course, you will develop skills like probability distribution, predictive analytics, and the latest business analytics tools to improve your job prospects. 

Here are the key responsibilities required for pursuing business analytics jobs: 

• Conducting research and data analysis to support decision-making and problem-solving
• Creating detailed documentation, such as business requirements documents and process maps
• Facilitating communication between business stakeholders and technical teams
• Participating in project planning and coordination activities
• Conducting user acceptance testing (UAT) to ensure solutions meet business needs

Top Hiring Companies: IBM, Salesforce, ITC Infotech, Birlasoft, Genpact, and Deloitte

Average Salary Range: ₹3 LPA – ₹13.4 LPA

11. Data Scientist 

Data scientists have one of the best-paying jobs for BBA graduates. They are responsible for extracting insights from big datasets using statistical analysis, machine learning, and programming skills. They analyze complex datasets to identify patterns, trends, and correlations. They also develop algorithms and predictive models to forecast future trends and behaviors. 

Employment opportunities for data scientists are available across various industries, including finance, healthcare, and technology. Their main contribution to an organization or business lies in solving challenging business problems based on data-driven insights. With a data science course with a placement guarantee , you can gain practical skills through hands-on projects and secure a guaranteed job upon completion.

Here are the key responsibilities required for pursuing data science jobs : 

• Developing and implementing machine learning algorithms and statistical models to solve business problems
• Designing experiments and hypothesis tests to validate findings and improve model performance
• Visualizing and presenting data insights to stakeholders in a clear and understandable manner
• Ensuring data quality, integrity, and security throughout the data lifecycle
• Contributing to the development and maintenance of data infrastructure and tools to support data analysis

Top Hiring Companies: PwC, Infosys, Ericsson, Lupin, and Nestle

Average Salary Range: ₹3.8 LPA – ₹12.9 LPA 

BBA graduates have a plethora of job opportunities, each requiring a unique combination and offering distinct growth opportunities. Whether you aspire to venture into the fast-paced domain of investment banking or want to work as a management consultant, you can explore the highest-paying jobs after BBA with the help of this blog. Before you decide to pursue a particular career path, it is vital that you research the job responsibilities, requirements, and skills required. 

If you are searching for lucrative job opportunities in the commerce field, check out our blog on high-salary jobs for commerce students . 

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Harshita is an English Literature graduate from the University of Delhi with 3 years of experience in Content Writing and Editing. Dedicated to her craft, she loves creating magic with words. She is a big fan of hoarding cute planners and journals and can be seen watching FRIENDS (almost EVERYTIME) in her spare time. Her meticulous attention to detail makes her stand out from the crowd. A typo epidemic is her worst nightmare!

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India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling

Unemployment and inflation among the biggest challenges facing Modi’s reduced coalition, analysts say.

Indian Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) campaigned on India’s sizeable economic expansion in the lead-up to the country’s recent national elections.

Since Modi came to power in 2014, GDP per capita has risen from about $5,000 to more than $7,500.

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India’s GDP growth hit 8.4 percent in the financial year ending March, making it by far the fastest-growing major economy.

At the same time, the economy is producing much far less impressive data, including a high unemployment rate, which rose to 8.1 percent in April from 7.4 percent in March.

It is this statistic, along with high inflation, that has been touted as a key reason for the weaker-than-expected performance of the BJP, which won 240 seats, well below its previous tally of 303 and fewer than the 273 needed to form a government on its own.

While Modi has formed a government with the help of his National Democratic Alliance partners, his reliance on smaller parties changes the equation for a leader who commanded outright majorities during his previous two stints as prime minister.

“This is going to be really unusual for Prime Minister Modi,” Vina Nadjibulla, vice president of research and strategy at the Asia Pacific Foundation of Canada, told Al Jazeera.

“It was partly why the markets reacted the way they did,” Nadjibulla added, referring to the sharp drop in Indian stocks following the election result.

Nadjibulla said investors are concerned Modi may be unable to push through reforms needed to tackle issues such as high unemployment.

Despite strong headline economic growth, nearly half of India’s population is still employed in the relatively unproductive agricultural sector – a share that rose during Modi’s second term, from 42.5 percent in 2018-19 to 45.8 percent in 2022-23, according to an Oxford Economics report.

Young people, in particular, suffer from a lack of employment – in 2022-23, the youth unemployment rate was about 10 times higher than the adult rate, according to the report.

It is “ironic” that India’s robust growth under the Modi government “has come at the cost of economic stability for the lower classes”, Michael Kugelman, director of the South Asia Institute at the Wilson Center, told Al Jazeera.

In its third term, the Modi government will have to find a way to help poorer Indians in a way that goes beyond building infrastructure, Kugelman said.

“Across the board, it’s going to be a very ambitious economic agenda,” he said.

Manufacturing vs services job

Much has been made of India’s push to boost manufacturing, create jobs and lure global brands looking to set up alternative supply chains in the face of trade tensions between the United States and China.

India’s “Make in India” drive, however, has done little to create jobs for the large segment of the population that is still employed in agriculture.

One reason for this is that the government’s focus has largely been on promoting higher value-added yet less labour-intensive sectors such as electronics, Alexandra Hermann, Oxford Economics lead economist, told Al Jazeera, adding that this would probably not change.

Another oft-touted reason is the lack of “big bang” reforms to land and labour rules, experts say, which are needed to bring in the type of major investment needed to really expand manufacturing.

While the Modi government has failed to make serious headway in this area – despite large majorities in parliament – experts say its coalition partners may now help it pave the way for some of those measures as jobs will benefit all voters.

Coalition partners could also help the Modi government make some progress in its so far failed efforts for land and labour reform, which have been highlighted as a necessary step to attract more investment in manufacturing.

“There will have to be some coordination with state governments… and coalition partners are regional parties that will have a lot of sway in some parts of the country and that is where a coalition government will be very helpful for Modi and the BJP,” Kugelman said.

For now, rather than relying on manufacturing, India’s growth story has largely been driven by services, which experts say will only be able to continue over the longer term and create sustainable and inclusive growth if human capital levels increase.

“Raising human capital levels on a broad basis will be crucial to create inclusive and sustainable growth over the medium-to-long-term,” Hermann said.

“Although India is home to some top technology and management universities nurturing global business leaders, it is the quality of primary and secondary education that still leave the Indian population, on average, relatively low-skilled. [But in its manifesto] the BJP fell short of committing to the higher spending goal,” Hermann said.

Kugelman agreed.  

“Some of the fastest growing sectors are in services but the labour force is not equipped for those jobs and there’s a complete mismatch,” he said.

‘Conditions for private investment’

Ultimately, though, GDP growth and job creation are driven primarily by private investment, said Ajay Shah, an economist in Mumbai.

Private investment has not fared well in India since 2009 or 2011, depending on which measure you use, so “the organising principle for economic policy should be to create conditions for private investment”, Shah told Al Jazeera.

Part of the reason for the lack of success in this area has been excessive central planning in economic policy, Shah said.

“This,” he said, “creates policy risk. Arms of the government behave in unpredictable and personalised ways. This creates risk for private persons.”

Shah expressed hope that the incoming coalition will be better positioned to address such problems.

“There are more checks and balances,” he said.

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Economics Courses After 12th: Fees, Colleges, Admission, Jobs, Salary 2024

Economics courses are pursued by candidates who wish to work in the economic sector. The Economics courses are offered in different levels like Certification courses, Diploma courses, Undergraduate courses, Postgraduate courses and PhD courses. 

Economics is broadly offered in two general categories like BA and BSc .

The Certification courses in Economics are available in both online as well as offline mode. Various online Economics certification courses are available in online sites like Udemy, edX and Coursera.

• The duration of Economics courses varies depending upon the type of program. The duration for Bachelor’s program is 3 years.
• Duration of online Certification courses depends upon the website or the institution which provides the course. Many online courses are self paced also.
• Admission for UG courses is done through a merit basis where some colleges conduct interviews for selecting the candidates through merit basis.

After completing the economics courses job opportunities like Financial Economist, Financial Risk Analyst, Economic Researcher, Equity Analyst, Professional Economist, Cost Accountant, etc. are available to the graduates of economics courses after 12th.

The average salary package ranges from about INR 3,00,000 to 9,00,000 per annum for the degrees after 12th depending upon the job profile and skill the candidate possesses.

Table of Content

Economics Courses After 12th: Highlights

Certificate economics courses, bachelor economics courses, what are the top job options after economics courses, what skills are required in economics courses, online certificate economics courses fees and rating comparison, economics courses after 12th: faqs.

Some of the important highlights of Economics courses are mentioned in the following table.

The Certification courses serve as an additional qualification for the graduates with bachelor's or master’s degrees. Certification courses are offered both in online mode as well as in offline through colleges and training institutions.

• The duration varies for each course, depending upon the institution or the online website providing the course.
• The duration varies from a few hours to a few months, and can even extend up to a year in some rare cases.
• Admissions for the certificate courses are done directly on merit basis and no entrance exams are required.

Online Economics Certificate Courses

Online Economics Certificate courses are offered across various online websites. The online course provider websites are listed in the following table along with the certificate name, duration of the course and fees of the courses.

How are Admissions in Certificate Economics Courses Done?

Admission process is very easy for the certification programs since there is no need for appearing for the entrance exams as the admission is done directly through the merit based process.

• The basic eligibility requirement is the completion of class 10th or 12th in school.
• Candidates can straightaway fill in their personal details with educational qualification in the website that provides the online course.

Bachelor’s programs in Economics are offered generally through two different programs like BA and BSc.

• BA program is in Arts domain whereas BSc in Science domain which gives an in depth knowledge in economics stream.
• The duration of the bachelor’s program is 3 years for both BA and BSc programs.
• The fees for the course and the salary package offered to the candidates also vary depending upon the factors like domain, college and program type.
• The basic eligibility for the program is to be passed in Class 12th from a recognized board of education.

Top Bachelor Economics Courses

Top Bachelor Economics courses are listed in the table below along with the colleges offering the courses, duration of the courses and average fees for each course.

How are Admission in Bachelor Economics Courses Done?

Students applying for the bachelor’s program should fulfil the basic eligibility criteria of passing their class 12th in school from any recognized board of education.

• Admissions to the Bachelor Economics courses are mostly done through merit basis in India.
• A merit list will be released by the universities and institutions based on the marks scored by the candidates in class 12 examinations.
• Some colleges or universities conduct their own interviews in order to select the candidates based on merit scores.

Top Colleges for Bachelor Economics Courses

The colleges offering Economics courses at bachelor’s level are listed in the following table along with its location and NIRF ranking.

Some of the popularly known job options available after the completion of economics courses are listed here along with their skills, average salary and job description.

Source: College Websites

Professional Economist

A Professional Economist is a skilled person who studies the relationship existing between the resources of a society and the final output or production. Economists study different societies ranging from small, local communities to entire nations and even the global economy.

Starting Salary: INR 6,00,000 to 8,00,000

Skills Required

• Mathematical aptitude
• Independent thinker
• Written skills
• Verbal communication skills
• Understanding complex systems

Economic Researcher

Economic Researchers study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. They also conduct research, prepare reports, or formulate plans to address economic problems.

Starting Salary: INR 5,00,000 to 7,00,000

• Probability
• Critical thinking skills
• Math skills

Audit Manager

Audit Manager is the individual who organizes the internal audits and manages the internal audit plans of the company. He examines the internal processes of the organization and analyses them for the effectiveness and risks.

Starting Salary: INR 8,00,000 to 10,00,000

• Risk Management
• Auditing skills

Candidates looking for a job after their completion of a Software Engineering course degree are expected to have additional skills to their name. Some of the skills that are expected after the completion of a degree are discussed below.

Communication Skills

An effective communication is must for expressing or receiving any form of information with another person. Actions like listening, speaking, observing, empathizing are some of the important communication skills.

Top Courses for Communication Skills

Among numerous courses available online, some of the top courses for communication skills that are provided by the well-known websites are discussed in the following table.

Course Syllabus for Communication Skills

Syllabus covered in the courses that help to develop communication skills are described in this section.

Communication Skill Job Profiles

• Communications Specialist
• Financial advisers
• Psychotherapist

This table gives the top online certificates for economics courses, sorted according to the rating given to them by users.

Comparison of Online Platforms Offering Economics Courses

Online Economics courses that are offered by two different online course providing platforms like Udemy and Coursera are compared with each other based on some parameters. The famous courses in each of the websites are compared.

Ques. Can I learn Economics courses Online?

Ans. Yes, many Economics courses are available online ranging from free courses to costlier courses which are provided by numerous online websites.

Ques. Which is the website that offers free online Economics courses in India?

Ans. Coursera offers free online Economics courses in collaboration with world class and reputed universities. Other than this Udemy also offers courses with much reduced prices.

Ques. What is the duration of an Economics course?

Ans. The duration of the course depends on the type of program the candidate chooses. For UG, the duration is 3 years and for certification, the duration ranges from a few hours to months in some cases.

Ques. How much does it cost to do an Economics course?

Ans. At UG level, the average fees of the Economics course vary from INR 1,000 - 50,000.

Ques. What is the average salary that a student gets after completing a UG Economics course?

Ans. The average salary offered to a candidate with a UG or bachelor’s degree ranges from INR 6,00,000 to 8,00,000

Ques. What are the job opportunities available after graduation in Economics courses?

Ans. Job opportunities like Financial Economist, Financial Risk Analyst, Economic Researcher, Equity Analyst, Professional Economist, Cost Accountant, etc. are available to the graduates who completed Economics courses.

Ques. What are the essential skills for the Professional Economist?

Ans. Skills like Mathematical Aptitude, Independent thinker, Written skills, Verbal communication skills, Understanding Complex Systems etc. are essential for the Professional Economist.

Ques. Do I get a scholarship to pursue economics certifications online?

Ans. Yes, websites like Coursera provide scholarships and financial aid to students to pursue their favorite courses. Students need to send an application form for claiming financial aid.

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