No doubt, an economist is a well-paying and highly respected career choice in Canada. Across all provinces and in many organisations, the demand for skilled employees has witnessed a high surge within the past few years.
This guide will help you to know how to position yourself in a vibrant industry and make the most from your economics degree.
How to Kick-start a Career in Economics
Starting a career in economics is overwhelming to many students. It’s a life-long goal that requires a lot of commitment, research and hard work. Needless to say that you might be scared of making a mistake and you need a roadmap to guide you even while you are still in high school.
If you want to know exactly how you can begin a successful career and major in economics, here is a breakdown of the steps you need to take. Keep in mind that the success derived from each step you take is highly dependent on the amount of effort t you out to make it a reality. See how to prepare for life at the university.
- Improve your math skills
Math is an essential skill that dominates many career choices in economics. For instance, many high paying jobs such as data analysis requires that you know your way around statistics, calculus and other quantitative analysis.
You must be able to frame problems and provide credible solutions that can stand the test of time. So if you weren’t taking your math classes seriously before now, it’s time to improve your skills and fall in love with every math class in your school.
If you feel you need help with math, you may seek assistance from Superprof. There are many tutors available to take you math lessons online, at your home, or anywhere else you find conducive.
Read about studying economics without math.
- Enroll for a bachelors degree program
This step cannot be substituted for another as many organisations require that an employee must be a degree holder to hold any high rated position within the organisation. One of the many important things you must do to kick-start your career in economist is to enroll for a degree program in any university of your choice.
You can do research online and apply directly to any university, provided you have read up their admissions requirements and met the criteria set by the school. After graduation, many students go ahead to diversify into related fields in economics such as taxation and banking for which they would need additional qualification.
- Learn a programming language or software
To excel in your career, learning how to use Excel, PowerPoint, and Word are non-negotiable. These skills are highly needed for data analysis, evaluation and recording. There are other valuable skills you will need to develop for an economics major. These include how to use MIS-3300 and Eviews.
Suppose you want to niche down to a particular industry. In that case, it’s recommended to research the software or programming language that is peculiar to that industry and go ahead to master them. This will give you an edge over other candidates searching for employment opportunities in the industry.
Getting some experience in your field is a great way to kick-start a career in economics. A paid internship is a sure route to take with this. It allows you to explore possible career options within your field and get hands-on work experience on your desired job.
These days, it can be challenging to land a paid internship immediately after graduating from university. That is because almost every student wants one, and it could even lead to a permanent job offer in Canada.
- Build your network
As much as you can, build your network and try to connect with people that hold reputable positions in organisations. Talk to professors, CEOs, business managers, professionals, friends and family members. Ensure you look professional, polite and bold in your approach. Remember you are trying to make a first impression and every effort is worth it.
You can also do this effectively via LinkedIn. Connect with professionals, find out about their company, vision and marketing efforts. Try to find out their pain points as well and communicate with them in a manner that would demonstrate that you have the skills they need to grow in their business pursuits.
- Build your resume
You don’t have to wait to graduate from college or the university before creating a resume. You can start right away! Yes, what skills did you learn while in high school that is highly marketable? Please include it in your resume and build on that. As you study, ensure you avail yourself for group learning, excursions, research, training and workshops that are organised for students studying economics. That way, you will always have reasons to update your resume regularly, even before earning a degree.
- Stay up to date
Technology is evolving every day, and there will always be new things to learn about. Therefore, no matter how knowledgeable you are, it’s vital always to be updated about the latest trends and development in the field of economics.
This is vital to staying relevant in a competitive industry or any other sector. Read articles such as The Economists, Houston Chronicle, Wall Street Journal, etc. it’s also imperative to do research regularly to enable you to stay relevant as you pursue diverse career options and seek career fulfillment.
Tips for Finding the Perfect Job with a Degree in Economics
Every student envisions the day they would land their dream job. There are indeed many career options and possibilities for economics graduate, but how can you make the most of them? After graduating from college, the first puzzle many students face is how to evolve from a new grad to become a new employee. As simple as it may look, it is not without some hurdles.
If you are a new grad, you may face some challenges trying to figure out what your career options are in the long run. But you don’t have to fret at this, after many years out of school, many people are still trying to design their career goals.
The first thing you should do is to indentify the skills you need to excel in your career as an economist. These skills include:
- Quantitative reasoning
- Data analysis
- Knowledge of how the economy operates
- Business management
- Critical thinking
After identifying these skills, you need to take a step further and acquire them. You might have learned some of these skills at the university or high school, but it’s time to build upon that and dive deep into its roots.
The next step is to figure out your passion. This is essential because it is entirely pointless to pursue a career for which you have no passion. If you like crunching numbers and calculating different statistical formulas as well as making comparisons between data, then, you might be cut out for a career in data analysis.
On the other hand, if you love to serve the public and help the authorities make informed decisions based on the result from your analysis, comparison and evaluation, then, a career in government agencies and ministries might be a perfect choice for you.
That said, it’s highly recommended to consider the career option that is best for your personality, style and preferences before anything else.
Career Options for Economics Graduates in Canada
If you have a degree in economics, chances are you could land a lucrative job with your skills. According to research made by Glassdoor, one of the highest paying majors in 2020 was economists. That said, here are the most common jobs graduates of economics can find in Canada.
- Business analyst
- Financial analyst
- Associate underwriter
- Policy analyst, investment analyst
- Pricing analyst
- Management consultant
- Data scientists
Now that you have this information, go-ahead to acquire the skills you need to succeed, brush up your resume and get ready for success. From interview tips, career advice to math classes, you can get all the help you need when you hire an experienced tutor on Superprof. See the best schools for economics study.
Hire a Tutor from Superprof to Help You Build a Successful Career
It’s no longer news that Superprof has emerged to become the world’s best tutoring website for all ages. So whether you are finding it difficult to figure your career path many years after leaving school or you need expert advice on how to succeed in your career pursuits, we have got you covered.
Hire a trained tutor or a life coach to help you give your career the perfect shape it needs. Transitioning from a new grad to an employee can be overwhelming for many. But never with us! We can make the transitioning process a smooth ride for you.
Hire a tutor right away and relax as you watch your entire life take on a new dimension for success. Nowadays, the corporate world is ruled by skills. The more skills you have, the more chances you have at attaining success in your chosen career.
Chances are you already have more of these skills than you think. By hiring a trained professional from Superprof, you can easily identify these skills, leverage on them and plan your career goals for years to come.