A PhD in Economics is the highest degree that you can attain in the field of Economics, so any job in a related field will be open to PhD degree holders. Financial institutions are the main employers of graduates with PhDs in Economics, though many go on to have long careers in academic fields as well. Having a doctoral degree in Economics is one of the most profitable doctoral degrees available, so students should be sure to maximize their investment by obtaining a highly competitive salary. If you are a working professional who wants to pursue a PhD in Economics to raise your qualifications and advance in the field of Economics, you might desire the schedule flexibility that are offered by online degree programs. Not all online doctoral degrees offer the same quality, so prospective students should be sure to check out our list of the Top 20 Best Online Colleges with Doctoral Programs. Let’s take a look at some of the most lucrative jobs available, so that you can figure out what you can do with a PhD in Economics.
Accountant or Auditor
Some of the most common jobs for students with degrees in the field of Economics are accountants and auditors, which are people who prepare and examine financial records to pay taxes online and make sure books are kept properly. They are often employed by large companies, but they can also be private practitioners as well. Accountants and auditors make an average salary of $65,350 per year, and the job outlook is expected to grow by 10% over the next decade, making it a safe fallback position for graduates with a PhD in economics.
Many graduates with PhDs in Finance choose to stay in academia and become college professors, teaching finance courses to their students. This is one of the safest careers in the field of finance, as it is safe from market fluctuation. College professors make an average of $76,000 per year, and with job look over the next decade expected to grow by 15%, becoming a college professor is a great choice for PhD graduates who want to remain in an academic field.
Personal Finance Advisor
Personal Finance Advisors offer their clients financial advice regarding loans, investments, mortgages, taxes, and any other financial matter. They can be hired for a full time salary by large corporations, or work as private consultants. The average salary of a Personal Finance Advisor is $90,000 per year, and with their job market expected to increase by 15% over the next decade, becoming a Personal Finance Advisor is a lucrative and safe career option for graduates with PhD degrees in Economics.
Financial Managers are usually hired by large corporations or institutions and are required to maintain the financial stability of their organization. They often draft financial reports, advise investments, and overlook fiscal assets. Financial Managers make an average salary of $125,080 per year, and the amount of positions in the field is expected to increase by 19% over the next decade, making Financial Managers one of the most lucrative and desirable career options for graduates who have earned their PhD degree in Economics.