Are you passionate about economics and want to make a difference in the world? Do you enjoy analyzing data, solving problems, and understanding how markets work? If yes, then you have chosen a great field that can open up many doors for you in your career. Economics is a versatile and dynamic field that offers a wide range of opportunities for economics graduates in India. Whether you want to work in the government sector, private industry, or semi-government organisations, a degree in economics can equip you with valuable skills and knowledge to thrive in various roles. In this blog, we will explore the different economics career opportunities in India, from government exams to private sector jobs and semi-government organisations. Let’s get started!
Government Jobs after Economics Degree:
If you want to work in a government job after an economics degree as an economist or an officer, then you have to appear for some competitive exams that test your knowledge and aptitude in economics and other subjects. These exams are conducted by various agencies such as UPSC, RBI, SSC, etc., which select candidates for different positions in the government sector. Some of the popular government exams for economics graduates are:
– Indian Economic Service (IES): Conducted by the UPSC, the Indian Economics Service exam selects candidates to provide a wide range of services. Indian Economic Service officers provide service economic advice, administration, and policy implementation in various sectors of government functioning. They also contribute to policy-making in social sectors and economic reforms in a globalizing environment.
The Indian Economic Service exam covers topics such as general English, general knowledge, and economics papers. You can find the syllabus here.
– RBI Grade B DEPR (Department of Economic and Policy Research): The RBI Grade B DEPR exam recruits candidates for Grade B officer positions responsible for conducting research on economic issues and policy analysis. The exam covers subjects like economic theory, applied econometrics, statistics, and the Indian economy.
– SSC CGL: The SSC CGL exam is conducted for various government posts, such as accountant, auditor, statistical investigator, and economic officer. Economics graduates can excel in this exam by demonstrating their knowledge in areas like statistics, general studies, and quantitative aptitude.
💡Pro Tip: These exams are highly competitive and require a lot of preparation and practice. You have to study the syllabus of Indian Economic Service, RBI Grade B DEPR and SSC CGL thoroughly and solve previous year papers and mock tests to improve your speed and accuracy.
Private Sector Jobs after Economics Degree:
If you want to choose a job after an economics degree in the private sector as an economist or an analyst, then you have a lot of options to work on. The private sector offers roles like financial analysts, investment analysts, risk analysts, and financial advisors in banks, insurance companies, and financial institutions. It also offers roles like economists, researchers, and consultants in research institutions, think tanks, and consulting firms. It also offers roles like market analysts, business analysts, economics writers, or research analysts in the corporate sector. These roles require you to use your economic knowledge and analytical skills to understand market trends, provide economic analysis, advise clients, or make business decisions.
💡Pro Tip: if you want a private job after an economics degree, you have to take it upon yourself to build a skill with relevance to the job role you are applying for. There are two ways to go here: apply for internships and skill based courses to gain technical knowledge.
Semi-Government Jobs after Economics degree:
If you want to work in semi-government organisations to maintain a good economics career apart from Indian Economic Services, or RBI Grade B DEPR then you can find opportunities in semi-government organisations as well. They are partly owned or controlled by the government but operate independently or autonomously. These organisations come under various ministries and departments of government including sectors like energy, financial services, defence, and telecommunications. These organisations hire economics graduates as economists, planners, researchers, auditors etc., who are responsible for managing their operations, finances, and policies.
💡Pro Tip: Some of these organisation have entrance papers, and some of them have multiple interview rounds. Make a list of the organisations you are aiming for and note them on the basis of eligibility criteria, written tests, interviews, group discussions, skill tests, etc., depending on the post and organization.
As you can see, an Economics career in India can be maintained with a plethora of opportunities in various sectors. Whether you choose to appear for government exams, explore private sector roles, or join semi-government organisations, your economics background provides a strong foundation for success. Consider your interests and strengths to carve out a career path that aligns with your passion and goals. If you want to learn more about economics careers and you want an answer to “how can I prepare for Indian Economics Service, or RBI Grade B DEPR exams?”, check out the website that offers guidance and free resources for aspiring economists. You can also contact our senior academic counsellor at +91 7880107880. We would love to hear from you and help you achieve your dreams. Thank you for reading and happy learning!