Economist

Career description

An economist analyzes complex economic issues, ranging from government policy to business investments, using statistical models and theoretical frameworks. They advise organizations or governments based on their findings, where analytical thinking and accuracy are crucial. The work environment can vary from consulting firms and financial institutions to research institutions and government.

Salary range

Salaried: €3,200 - €5,200 (Netherlands) gross per month (varies by industry, region, and experience).

Compare salaries across careers.

Education and preparation

Education level for Economist: HBO/WO.

Focus on practical experience, internships, and specializations that fit this field.

RIASEC profile for this career

Top profile: Investigative (90%), followed by Artistic (70%).

Scores: R 20 • I 90 • A 70 • S 50 • E 20 • C 20

About the Economist career

An economist studies and interprets economic data to understand how resources are allocated and how markets function. They use their insights to advise governments, businesses, and organizations on economic policies, investment strategies, and financial planning.

This career suits people who enjoy working with numbers, analyzing data, and thinking critically about economic trends and policies. If you have a strong interest in understanding how economies operate and want to influence decision-making with evidence-based analysis, economics could be a great fit for you.

A working day as a Economist

A typical day for an economist involves collecting and analyzing economic data using statistical software and economic models. You might spend time reviewing recent economic reports, reading academic papers, or preparing forecasts about market trends or policy impacts. Collaboration is key, so you often work alongside other economists, statisticians, policy makers, and business leaders to discuss your findings and develop recommendations.

You may also attend meetings or presentations to explain complex economic concepts in accessible terms to clients or stakeholders. In some roles, you might contribute to writing reports or articles for publication, sharing your insights with a wider audience. Your work environment can range from offices in consulting firms, financial institutions, or government agencies to research centers and universities.

Teamwork is important, but much of your work requires independent analysis and critical thinking. You often coordinate with data analysts, financial experts, and sometimes legal advisors to ensure your economic assessments are comprehensive. Depending on your employer, you might also interact with policymakers, business executives, or the public to help shape economic decisions.

Tasks and responsibilities

• Develop and apply economic models to analyze market trends and policy effects.
• Collect, clean, and interpret economic and financial data from various sources.
• Prepare detailed reports and presentations to communicate economic findings.
• Advise organizations or governments on economic strategies and policy decisions.
• Monitor global and local economic indicators to forecast future developments.
• Conduct research on specific economic issues or sectors to support decision-making.
• Collaborate with multidisciplinary teams to integrate economic insights into broader projects.

Skills and traits

Analytical thinking

Economists must be able to break down complex data and economic theories to understand underlying patterns and relationships. This skill allows you to make accurate predictions and provide sound advice based on evidence.

Attention to detail

Small errors in data or calculations can lead to incorrect conclusions, so precision is essential. Being detail-oriented ensures your analyses and reports are reliable and trustworthy.

Communication

You need to explain complex economic concepts clearly to people who may not have a technical background. Strong communication skills help you make your findings accessible and persuasive to clients or policymakers.

Mathematical proficiency

Economics relies heavily on statistics, calculus, and algebra to build models and analyze data. Comfort with these mathematical tools is necessary to perform your core tasks effectively.

Research skills

Gathering relevant data and staying updated on economic developments requires thorough research abilities. This helps you base your work on accurate and current information.

Problem-solving

Economic issues often involve multiple variables and uncertain conditions, so you must find practical solutions. Being a good problem solver enables you to address challenges and advise on effective strategies.

Which personality fits?

Your RIASEC profile suggests a strong Investigative interest at 85%, which means you enjoy exploring ideas, analyzing information, and solving complex problems. This aligns well with the core nature of economics, which demands curiosity and a methodical approach to understanding how economic systems operate.

You also have a significant Conventional interest at 60%, indicating you appreciate structure, organization, and working within established procedures. This complements your investigative side by helping you manage data systematically and adhere to rigorous analytical standards. Your Enterprising (50%) and Social (40%) interests suggest you are comfortable interacting with others and influencing decisions, which is important when advising clients or policymakers. Lower Realistic (30%) and Artistic (20%) scores reflect less preference for hands-on physical work or creative expression, which fits the more abstract and analytical focus of economics.

Education and route

To become an economist, you typically pursue higher education at the applied bachelor's (HBO) or university (WO) level, with the university route being most common for this profession. A degree in Economics (WO) provides a solid foundation in economic theory, quantitative methods, and research techniques essential for this career.

During your studies, internships or work placements can be valuable for gaining practical experience and understanding real-world economic issues. These opportunities allow you to apply theoretical knowledge, develop professional networks, and improve your analytical and communication skills.

Economics programs often include coursework in microeconomics, macroeconomics, econometrics, and statistics, as well as electives that cover specialized topics like international economics or financial markets. This academic preparation equips you with the tools to analyze complex economic phenomena and contribute effectively to decision-making processes.

Pay and career progression

Your pay as an economist is influenced by factors such as your level of experience, the sector you work in, and the region or country where you are employed. Economists working in private financial institutions or consulting firms often earn more than those in academia or government roles, but this can vary widely.

Career progression typically involves moving from junior analyst roles to senior economist positions, with opportunities to specialize in areas like policy analysis, financial economics, or international trade. With experience, you may advance to managerial roles, lead research teams, or become a consultant advising high-level clients.

Where do you work?

Consulting firms

These organizations hire economists to provide expert analysis to businesses and governments on economic trends and strategies.

Financial institutions

Banks and investment firms employ economists to forecast market conditions and assess economic risks.

Government agencies

Public sector employers use economists to develop and evaluate economic policies and regulations.

Research institutions

Academic and independent research centers conduct economic studies to inform public debate and policy.

International organizations

Multinational bodies hire economists to analyze global economic issues and support development programs.

Pros and cons

Pros

• You get to work on important issues that influence economic policy and business decisions.
• The job involves intellectual challenge and continuous learning about economic systems.
• There are diverse career paths available across sectors and countries.
• You develop valuable analytical and communication skills that are widely applicable.

Cons

• Work can involve long hours, especially when meeting deadlines or during economic crises.
• The role may require handling large amounts of complex data, which can be tedious.
• Economic forecasts are uncertain, and recommendations may not always lead to expected outcomes.
• Some tasks involve repetitive analysis or report writing, which may feel monotonous.

The future of this career

Technology is increasingly shaping how economists work, with advanced data analytics and machine learning tools enhancing economic modeling and forecasting. This allows for more accurate and timely insights but also requires you to stay updated on new software and methodologies.

Societal changes, such as globalization and shifting economic policies, mean economists need to adapt their focus and skills to address emerging challenges. The role is becoming more interdisciplinary, often involving collaboration with experts from other fields to tackle complex economic problems.

Does Economist suit you?

• Do you enjoy working with numbers and analyzing data to uncover patterns?
• Are you curious about how economic policies impact societies and businesses?
• Can you communicate complex ideas clearly to people with different backgrounds?
• Do you prefer structured, research-based work environments?
• Are you comfortable working independently as well as part of a team?

Frequently asked questions about Economist

What education do I need to become an economist?

Typically, a university degree in Economics is required, with many economists holding advanced degrees. Applied bachelor's degrees can also be a pathway, but a strong foundation in economic theory and quantitative methods is essential.

How demanding is the workload for economists?

Workload varies depending on the employer and role, but economists often face deadlines and periods of intense research or reporting. Balancing detailed data analysis with communication tasks requires good time management.

Is it possible to change careers and become an economist later on?

Yes, many people enter economics from related fields by pursuing further education or training. Building strong analytical and mathematical skills is key to making a successful transition.

What factors influence an economist's salary?

Experience, sector of employment, geographic location, and level of education all impact pay. Private sector roles often offer higher salaries compared to public or academic positions.

Do economists need to be licensed or registered?

There is no universal licensing requirement for economists, but certain specialized roles may require certifications depending on the country or employer. Generally, academic credentials and experience are the main qualifications.

What are common career paths for economists?

Economists can work in research, policy analysis, consulting, financial analysis, or academia. Career progression often leads to senior analyst roles, management positions, or specialized consultancy.

Next step

Want to know if Economist really suits you? Take the free career test and compare your personal profile with this career.