Highest paying jobs with an economics degree

Rooted in the study of resource allocation, decision-making and market behaviour, economics equips graduates with a robust analytical skill set that combines quantitative prowess with strategic thinking. This makes them highly sought after across industries where data-driven insights and financial acumen are essential. 

From the high-stakes world of finance, where economists drive investment decisions and risk assessments, to consulting and data science, where they help organisations optimise operations and understand complex markets, the versatility of an economics degree opens doors to roles with significant financial rewards and growth potential. 

Many of these top-paying positions require not only strong technical abilities in statistical analysis, data interpretation and economic modelling, but also a strategic understanding of how these elements influence larger economic outcomes. As a result, economics graduates find themselves well-positioned to thrive in roles that demand rigorous analysis, high-level problem-solving and a nuanced understanding of global economic dynamics.

What is an economics degree? 

An economics degree is an academic course focused on the study of how resources are allocated, how markets function and how people, businesses and governments make decisions that impact economic outcomes. Economics, often called the ‘science of scarcity’, is concerned with understanding choices under conditions of limited resources. 

This field is both quantitative and analytical, delving into market dynamics, policy impacts and the behaviour of people and institutions. The combination of theoretical insights with practical, data-driven analysis makes economics a highly valuable degree across a variety of industries. Graduates gain strong skills in statistical analysis, critical thinking and problem-solving, all essential for decision-making roles in finance, technology, consulting and policy-making.

In an economics degree, students explore a wide range of subjects, from individual and corporate decision-making to global economic policies and development, and develop expertise in data analysis, critical thinking and problem-solving. This foundation prepares graduates for careers in finance, government, international relations, and public policy, as well as advanced studies in fields such as economics, law and business.

What are the main areas of economics?

An economics degree covers two main areas: microeconomics and macroeconomics. Microeconomics is the study of individual and firm behaviour, examining how they make choices and interact in markets. Key topics include supply and demand, elasticity, market structures, consumer behaviour and production costs. Microeconomics seeks to answer questions like how prices are determined in a market, why firms operate in certain ways and how consumers allocate their income to various goods and services.

On the other hand, Macroeconomics looks at the economy as a whole. It involves the study of aggregate indicators like GDP (Gross Domestic Product), unemployment rates, inflation and fiscal and monetary policy. This field examines how entire economies grow, why they might go into recession, and how government policies can stabilise or stimulate economic performance. Macroeconomics addresses broader questions, such as what causes inflation, how trade deficits affect economies and how central banks influence interest rates and money supply.

Key industries for economics graduates

A qualification in this field opens doors to some of the most in-demand and highest paying jobs with economics degree in the UK thanks to the strong analytical, quantitative and strategic thinking skills it cultivates. Beyond traditional roles in finance and government, economics graduates are sought after in a wide range of fields where their ability to interpret data, solve complex problems and understand market dynamics is highly valued. 

Here are some of the key industries where economics graduates can pursue career opportunities:

• Finance and Banking: The financial services sector remains one of the top industries for economics graduates. Roles in investment banking, private equity, hedge funds and asset management offer substantial salaries and bonuses. Economists in these fields analyse market trends, assess financial risks and develop strategies to maximise returns.
• Consulting: Economics graduates are in high demand within consulting firms, especially those specialising in management, economic and strategy consulting. Consultants use their expertise in data analysis, economics and market research to provide clients with insights that help them optimise operations, improve efficiency and navigate complex market environments. 
• Technology: The rise of data-driven decision-making has opened new career opportunities for economics graduates in the tech sector. Many technology companies hire economists to analyse data, forecast market trends and optimise business operations. Economics graduates with skills in data science and programming are especially well-positioned to capitalise on the growing demand for tech-savvy professionals in this rapidly evolving industry.
• Government and Public Policy: Economists play a crucial role in shaping public policy, managing resources and advising government agencies. Graduates with an interest in public policy can find rewarding careers in government departments, think tanks and international organisations. By applying economic models and research to public issues such as taxation, healthcare and economic development, economists help formulate policies that improve national and global economies.
• Healthcare and Pharmaceuticals: The healthcare industry also offers significant opportunities for economics graduates, particularly those with an interest in healthcare policy and management. Economists in this field analyse healthcare systems, evaluate the cost-effectiveness of treatments and assess the economic impact of policy decisions. With rising healthcare costs and an emphasis on efficiency, economics graduates are increasingly in demand to optimise healthcare operations and guide policy decisions in the public and private sectors.

What are the top 10 highest paying jobs with an economics degree?

A degree in economics can open doors to a wide variety of high-paying roles across industries such as finance, consulting and government. In fact, degrees with strong quantitative, analytical and finance-related courses (like financial economics, econometrics or actuarial science) generally offer the highest earning potential. 

This is especially true for those pursuing the highest paying jobs for economics majors, where expertise in data analysis, financial modelling and economic theory is highly valued. The reputation of the university and the level of technical skills gained also significantly impact earning potential, with graduates from top-tier institutions often commanding higher salaries and having access to exclusive job opportunities in competitive fields.

Here are some of the top-paying jobs for economics graduates:

Investment Banker

Investment bankers assist companies with raising capital, mergers, and acquisitions, and are known for demanding work hours but very high earning potential, especially in senior roles. Average salary: £70,000 – £150,000+ per year, with potential bonuses significantly boosting total compensation.

Hedge Fund Manager / Analyst

Hedge fund professionals manage large investment portfolios aiming for high returns. The industry is performance-driven, with substantial bonuses often awarded based on fund performance. Average salary: £80,000 – £200,000+ per year, with large bonuses.

Quantitative Analyst (Quant)

Quants use mathematical and statistical methods to analyse financial data. They are highly sought after in banks, hedge funds and investment firms, especially those with programming skills. Average salary: £70,000 – £120,000 per year, with high bonuses.

Actuary

Actuaries assess financial risks and are essential in insurance, pensions and investment. High salaries reflect the specialised nature of their work, especially for those with advanced qualifications. Average salary: £60,000 – £120,000+ per year.

Private Equity Associate

Private equity associates work with investment firms to acquire, improve and sell companies for profit. The role involves financial modelling, due diligence and is highly competitive. Average salary: £80,000 – £130,000+ per year, with high bonuses.

Chief Economist / Senior Economist

Chief economists provide economic analysis and forecasts for businesses, governments or organisations. They play a crucial role in shaping policy and strategy. Average salary: £60,000 – £150,000+ per year, depending on industry and seniority.

Financial Consultant / Management Consultant

Consultants provide strategic advice to businesses, often specialising in finance, operations or economics. Salaries rise quickly with experience, especially at top firms. Average salary: £50,000 – £100,000+ per year.

Corporate Lawyer (with an Economics Background)

Lawyers with an economics background have an edge in corporate law, especially in fields like mergers and acquisitions, antitrust and compliance. Top law firms pay very well and economics knowledge is a strong asset. Average salary: £60,000 – £130,000+ per year.

Data Scientist / Data Analyst (with Economics Focus)

Data scientists with an economics background are valuable in roles that require statistical and economic modelling, often in tech firms, financial services or consulting. Average salary: £50,000 – £100,000+ per year.

Public Policy Advisor / Government Economist

Economists in government roles advise on policy and economic strategies, working with departments like HM Treasury, the Bank of England or regulatory bodies. Though often lower-paid than private roles, senior positions can be lucrative and influential. Average salary: £40,000 – £90,000+ per year.

Highest paying economics degrees

The field of economics offers various specialised degrees, with some of the highest-paying paths combining economics with analytical, quantitative or industry-specific skills. Here are some of the top-paying economics-related degrees in the UK, which can lead to lucrative careers in sectors like finance, data science and consulting.

Financial Economics

Focuses on the relationship between economics and financial markets, equipping students with the analytical skills needed to understand financial systems, asset pricing and portfolio management. Financial economics graduates are in high demand in banking and finance, with some of the highest starting salaries. Typical careers include: Investment banker, hedge fund analyst and financial consultant.

Econometrics and Quantitative Economics

This degree emphasises the use of mathematical and statistical methods to analyse economic data. Graduates are well-prepared for high-paying roles in quantitative finance, economic modelling and big data analytics. Typical careers include: Quantitative analyst, data scientist and economic consultant.

Actuarial Science and Economics

Combining economics with actuarial science prepares graduates for careers in risk management and insurance, where actuarial skills are essential. Actuaries are among the highest-paid professionals, especially those with strong quantitative skills. Typical careers include: Actuary, risk analyst and insurance consultant.

Business Economics and Finance

This degree focuses on applying economic principles to business and corporate finance contexts. It prepares students for high-paying careers in corporate finance, consulting and investment analysis. Typical careers include: Financial analyst, corporate finance manager and management consultant.

Economics and Computer Science (or Economics with Data Science)

Combining economics with computer science or data science opens doors to lucrative careers in data analysis, fintech and tech-focused financial roles. Knowledge of programming languages and machine learning is highly valued in many well-paid sectors. Typical careers include: Data scientist, fintech analyst and machine learning specialist.

Environmental Economics and Policy

This degree applies economics to environmental and sustainability issues, preparing graduates for high-paying consulting and policy roles as sustainability becomes a global priority. Top firms and governments increasingly pay well for experts in this field. Typical careers include: Environmental consultant, policy analyst and sustainability advisor.

Development Economics (with Finance or International Business)

Combining economics with development studies or international finance can lead to high-paying roles in international organisations, consulting or government work focused on global economic development. Typical careers include: International economist, development consultant and financial advisor for NGOs.

Health Economics and Policy

Health economics graduates work in roles that analyse healthcare systems and policies, often for consulting firms, government agencies or pharmaceutical companies. As healthcare continues to grow, salaries in this area are also rising. Typical careers include: Health economist, policy advisor and pharmaceutical consultant.

Industrial Economics and Strategy

Industrial economics focuses on market structures, competition and strategic decision-making. Graduates often enter high-paying roles in consulting, especially in industries like telecoms, energy and tech, where regulatory economics is crucial. Typical careers include: Strategy consultant, regulatory economist and corporate strategist.

Public Policy and Economics

This degree is ideal for students aiming for influential roles in government, think tanks or international organisations. Senior public policy analysts and government economists can earn high salaries, especially in specialised fields. Typical careers include: Public policy analyst, government economist and policy consultant.

Final thoughts

Completing an economics degree is a transformative experience, equipping you with a diverse skill set that opens the door to some of the most lucrative and influential careers in the UK job market. Economics combines elements of social sciences and quantitative analysis, providing deep insights into how societies allocate resources, make decisions, and address critical issues such as inflation, unemployment and inequality.

With the UK’s robust financial services sector, growing demand for data-driven professionals, and the continued importance of economic policy in an interconnected global economy, economics graduates are uniquely positioned to pursue a wide array of high-paying career paths. These include some of the best-paying jobs for economics majors, where analytical thinking and problem-solving abilities are highly sought after in fields like finance, consulting, technology and government.

The blend of quantitative expertise, critical thinking and the practical application of economic theory enables graduates to excel in high-paying and influential roles. By leveraging technical skills, hands-on experience and strategic insight, economics graduates can unlock a wealth of career opportunities that shape the future of industries, organisations and public policy.