Is a Masters in Economics Worth It?

Written by Taru Medha

Some common jobs you can do as an Economics Masters graduate are economist, data scientist, economics professor, policy advisor and accountant. Economics degrees can also prepare you for popular roles in finance and investment like auditor, banker and stockbroker. According to the LEO Postgraduate Outcomes survey published by the UK Government, graduates can expect to earn a median salary of £55,100 five years after graduating.

If you’re working towards being an economist, along with thinking about supply/demand curves and GDP growth rates you must be trying to calculate the return on investment on your degree!

Whether something is ‘worth it’ ultimately depends on the parameters you judge it against. Very often (and very rightly!) the way to assess a degree’s return is by looking at the career options and salaries available post-graduation. So, let’s do just that!

In this guide, I’ve listed some of the jobs you can do as a Masters in Economics graduate, along with the average salaries for each role (base on the average base salary data published by Glassdoor). I’ll also talk about some of the skills and specialisms you’ll gain during your degree, which may be an important factor when assessing the worth of your Economics Masters.

Jobs you can do with a Masters in Economics

Professor of Economics

Average salary: £59,000 per year
Responsibilities: Teaching, developing curriculum, researching, publishing papers and mentoring students.

Note: Some professor roles might need you to have a PhD as well.

Data Scientist

Average salary: £49,000 per year
Responsibilities: Collecting and processing data, visualising and communicating data and developing data models.

Economist

Average salary: £45,000 per year
Responsibilities: Conducting research, analysing data, evaluating policy, giving recommendations and preparing reports.

Financial analyst

Average salary: £39,000 per year
Responsibilities: Forecasting, budgeting, analysing investments, reporting and assessing risks.

Accountant

Average salary: £38,000 per year
Responsibilities: Recording financial transactions, preparing financial statements, forecasting, budgeting, preparing taxes, auditing and managing payroll.

Government policy advisor

Average salary: £36,000 per year
Responsibilities: Researching existing policies, developing new policies, advising decision makers, monitoring, evaluating performance and communicating results.

Civil Servant

Average salary: £33,000 per year
Responsibilities: Implementing government policies, supporting with administrative jobs, advising officials and communicating with the public.

Jobs where a Masters in Economics will be useful

Stockbroker

Average salary: £50,000 per year
Responsibilities: Buying and selling stocks, providing investment advice, conducting market research and managing client portfolios.

Risk analyst

Average salary: £38,000 per year
Responsibilities: Identifying risks, developing models to assess and mitigate risks, monitoring, reporting, developing policies and communicating with stakeholders.

Banker

Average salary: £37,000 per year
Responsibilities: Advising on financial products, managing customer relationships, processing loans, handling transactions and managing accounts.

Auditor

Average salary: £35,000 per year
Responsibilities: Planning and conducting audits, reviewing financial records, assessing compliance with regulations, managing risks and reporting findings.

Areas you can specialise in with a Masters in Economics

If you study a Masters in Economics, you’ll receive advanced training in different economic principles as well as quantitative and qualitative research methodologies. Some of the main areas you could develop your expertise in include:

Behavioural economics
Econometrics
Economic policy
Finance and investment
Game theory
International trade
Macroeconomics
Microeconomics
Statistics

Skills you’ll gain with a Masters in Economics

Along with academic expertise, a Masters in Economics is also built to develop and refine important soft skills required if you’re planning to pursue a career like those listed above. You’ll learn about:

Data literacy
Conducting quantitative and qualitative analysis
Communication
Problem-solving
Presentation skills

What are some of my options for studying a Masters in Economics?

M.Sc. in Spatial and Applied Economics: Health Economics and Management

Vrije Universiteit Amsterdam |
School of Business and Economics

On campus Full time

Economics - MSc

University of Cologne |
Faculty of Management, Economics and Social Sciences

On campus Full time

Sustainability Economics and Finance MScEcon

University of Aberdeen |
Business School

On campus Part time Full time

Health Economics for Health Professionals and Policymakers (MSc) (Online)

University of York |
Department of Economics and Related Studies

On campus Part time

Behavioural Economics (MSc)

Erasmus University Rotterdam |
Erasmus School of Economics

On campus Full time

Tips from the author

Economics is just one of many business-related degrees out there. We’ve talked about a few like the MBA, International Business, Marketing, Management and Business in other guides. There can be a lot of overlap in what you study and what jobs you can pursue. So, how do you choose?

Tip #1: Look at the course descriptions carefully. This will give you an initial idea of whether a course covers the exact topics you’re looking for.

Tip #2: Don’t shy away from asking questions. Get onto those forums and reach out to alumni to learn about the career paths they’ve taken. Your journey is going to be unique, but their insights can help steer you in the right direction.

Tip #3: It’s not all in the job title. Don’t get stuck looking only for roles that directly match your degree name. That can mean overlooking incredible opportunities. Your degree equips you with skills that are transferrable across different industries.

Frequently Asked Questions

What are the funding options for a Masters in Economics?

Funding options include government postgraduate loans (UK home students only), scholarships, bursaries, assistantships, and employer sponsorship.

How does a Masters in Economics compare to an MBA?

A Masters in Economics is more theory- and research-driven, focusing on understanding and applying economic models and data. An MBA, on the other hand, is broader in scope and geared towards leadership, business strategy and management.

Search for a Masters in Economics

Ready to begin your search for a programme? Browse the Economics Masters listed on our website.

Taru Medha

Taru joined FindAMasters as a Content Writer in 2022. She creates well-researched, thorough content for our guides and blogs, as well as short video content for our social profiles. She has a Bachelors degree in Journalism and Mass Communication from Bennett University in India and completed a Masters degree in Global Journalism from the University of Sheffield in 2021, giving her personal experience with postgraduate study as an international student.

Last updated: 11 August 2025

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