Economics major: job prospects and salary?

I'm considering majoring in economics, but before I commit, I'd like to know more about potential job prospects and salary ranges. What kind of jobs can economics majors get straight out of college, and what's the average starting salary? Is it worth majoring in economics in terms of job and salary potential?

Economics is a versatile major that offers several interesting job prospects and competitive salaries. As an economics major, you would gain analytical and critical-thinking skills that could lead to various career paths in both the private and public sectors. That being said, here are a few of the most popular entry-level job options for economics graduates straight out of college:

1. Financial Analyst: Analyzing financial data, assessing investment potential, and making recommendations to individual and institutional clients.

2. Economic Consultant: Providing advice on economic issues to businesses, non-profits, and government organizations by analyzing market trends and economic data.

3. Data Analyst: Analyzing data to gain insights, identify trends, make forecasts, optimize processes, and drive data-based decision-making in various industries.

4. Market Research Analyst: Studying market conditions, gauging product demand, and identifying potential buyers to develop marketing strategies for organizations.

5. Actuarial Analyst: Applying mathematical and statistical skills to assess financial risk and design insurance, pension, and investment products.

The average starting salary for an economics major can vary greatly depending on the industry, job function, and location. However, it's generally competitive, even compared to other business-related majors. According to Payscale, the average starting salary for economics majors is around $59,000 per year.

If job potential and salary are important to you, an economics major is definitely worth considering. It not only provides you with a wide range of career opportunities, but your salary potential can also grow significantly over time, with many economics professionals eventually reaching six-figure salaries.

However, it's essential to remember that your choice of major should align with your personal interests and long-term career goals. Pursuing a major solely based on salary and job potential may lead to job dissatisfaction later on. It's crucial to find a balance between your passion, career aspirations, and earning potential. Good luck figuring out which path is right for you!