 The mean monthly
income of individuals possessing bachelor's degrees in
economics exceeded the mean monthly income of individuals
with degrees in business administration and management,
other social sciences, humanities, and most natural sciences
(Digest of Educational Statistics , 1994).
Economics is enjoying surging popularity with college
students, especially at the nation's most elite institutions (The Wall Street Journal
, November 30, 1998). Economics is the top major
at Harvard, Princeton, Columbia, Stanford and the Universities
of Pennsylvania and Chicago; second at Brown, Yale and
the University of California at Berkeley; and third at
Cornell and Dartmouth.
According to the National Association of Colleges and
Employers, the 1995 starting salaries by major were:
Economics and finance $28,016; Accounting $27,948; Business
Administration $25,592; Marketing $25,450; History $25,175;
Political Science/Government $25,156; English $22,682;
Psychology $21,379.
A 1996 survey conducted by the National Association of
Business Economists indicated that 60% of business economists
have annual base salaries between $50,000 and $100,000.
(Careers in Business Economics, 1998, pp. 38-39).
Twenty-seven percent of business economists reported incomes
over $100,000. This survey also indicated that the largest
employers of business economists were: firms engaged in
business services and consulting, the communications industry,
utilities, banking and financial institutions, and federal,
state, and local government. |
Career Information
Why Study Economics?
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