Why study economics?
Look at the American Economics Association’s website for what careers follow after an economics degree, career earnings, and more…
Most lucrative degrees, 10 years on (UK data):
Degree Women’s salaries Men’s salaries Medicine £45,400 £55,300 Economics £38,200 £42,000 Engineering and technology £23,200 £31,200 Law £26,200 £30,100 Physical Sciences £24,800 £29,800 Education £24,400 £29,600 Architecture £22,500 £28,600 Maths and Computer science £22,000 £26,800 Business £22,000 £26,500 History and philosophy £23,200 £26,500 Social sciences £20,500 £26,200 Biological sciences £23,800 £25,200 European languages and literature £26,400 £25,000 Linguistics and classics £23,200 £24,100 Veterinary and agriculture £18,900 £21,400 Mass communication £18,100 £19,300 Creative arts £14,500 £17,900 Base: Median annual salary Source: IFS and BBC
It is also interesting to note that it is estimated that around 12% of male economics graduates earned above £100,000 some ten years after graduation; by contrast, 6% of those studying medicine or law earned more than £100,000. In terms of females, it is estimated that around 9% of economics graduates earned above £100,000 some ten years after graduation; by contrast, just 1% of those studying medicine and 3% of those studying law did so (Institute for Fiscal Studies).
And a recent The Economist article shows that
Subjects which include some element of maths are well-rewarded. Our analysis finds that the five fields with the highest salaries are medicine, veterinary science, economics, engineering and mathematics.