Economics Jobs

Anonymous1987

I'm planning on taking a masters in economics and I'd like to know what career options this will give me. How difficult is it to go down the research economist route, grades wise is it like a 2.1 or strictly a 1.1? Where do research economists find work e.g. universities, private consultancy firms etc?

What type of work would you find in banking and how do banks view an economics masters? Is an economics masters a requirement for the graduate programme at the Central Bank or an advantage?

Time Magazine

Anonymous1987 wrote: »

I'm planning on taking a masters in economics and I'd like to know what career options this will give me. How difficult is it to go down the research economist route, grades wise is it like a 2.1 or strictly a 1.1?

If you want to do research, you're better off getting a PhD to be perfectly honest. There are professors in UCD who got a II.1 in their undergrad degree and then improved so it's nothing like the case that it's strictly the Land of Firsts, but if doing research without the doctorate you're pushing your luck without exceptional grades.

Where do research economists find work e.g. universities, private consultancy firms etc?

In Ireland, most research is done in the universities and the ESRI. Some go into consultancy and others into banks, but again maybe only four or five a year. The government hire very few, though hopefully they'll realise where that has led them and they'll pick things up by the time you're out. A good place to have an overview of the market is jobs.ac.uk, though there aren't many jobs available this year. A nice example is this where both pre- and post-docs are invited to apply. Obviously if you're going to beat someone with a PhD to the post you want to have a kick-ass CV with excellent grades. (Hands off btw, I'm eyeing that job up :pac:)

What type of work would you find in banking and how do banks view an economics masters? Is an economics masters a requirement for the graduate programme at the Central Bank or an advantage?

Banking and working in the Central Bank are different ball games altogether. I know some very high-calibre people with economics masters who weren't taken on by the CB, so it's pretty much a requirement. The CB do have a (relatively small) research division that is almost entirely staffed by PhDs.

Anonymous1987

Thanks Economist.

With regard to the banking industry what positions do economics graduates normally fall into? I'm aware a few fall into credit analyst roles, what other positions? Ignorning the current labour market is there generally high demand for economics graduates in the banking sector?

What oppertunities are there in policy e.g. Forfas, Enterprise Ireland, Commission for Energy Regulation? again is the compeition limited to Phd holders or can you get a position with a good masters (i.e. 2.1)?

Time Magazine

Anonymous1987 wrote: »

Thanks Economist.

You're welcome.

With regard to the banking industry what positions do economics graduates normally fall into? I'm aware a few fall into credit analyst roles, what other positions?

I don't know a lot about banking as I've no interest in monetary/financial economics but economics graduates get thrown all over the place from what I can see. One of my friends works in a BoI team minding large companies' pension schemes; another is that anonymous person who looks at your credit history and decides on your loan; another works for Goldman Sachs and I haven't seen him since he works such long hours

Ignorning the current labour market is there generally high demand for economics graduates in the banking sector?

I believe so.

What oppertunities are there in policy e.g. Forfas, Enterprise Ireland, Commission for Energy Regulation? again is the compeition limited to Phd holders or can you get a position with a good masters (i.e. 2.1)?

I know people who have worked in places like Forfás and the CER and don't have PhDs, so yeah M.A. will do the trick there. They're slightly different jobs to research economics though. I mean if you're working for ComReg you're more likely to be working on the nitty-gritty of suing eircom than getting published in a journal. This sort of thing depends on the specific job. Though you'd be more likely to be put in a more research-orientated role if you have a PhD and more likely to be put in a more "hands-on" job if you don't. That's not necessarily a bad thing... it just depends on what you want to do with your life.

MrMatisse

If you could do some study at a top uni abroad like the LSE or warwick that would give you a leg up in the jobs market.

Id have to say i think the jobs market for economics graduates is pretty tough at the moment

noodler

I would have to agree with the above. Finished my Economics MA last year (decent enough grades 2:1) and am still looking for paid employment.

The best places to go would have been public sector based but they are, of course, on a hiring freeze.

Anonymous1987

noodler wrote: »

I would have to agree with the above. Finished my Economics MA last year (decent enough grades 2:1) and am still looking for paid employment.

The best places to go would have been public sector based but they are, of course, on a hiring freeze.

Do you mind me asking if you have been doing voluntary internships? If so are they easy to come by and what was the work like?

I'd also be interested if anyone could tell me how commercial research with a bank differs from research at the Central Bank, ESRI, University etc? Is is simply more specific without theoritical input like industry and company reports?

I'm doing a bit of commercial research at the moment.

Its not as rigourous as the academic work, mainly I'm just putting together background reports which will form part of overall reports and strategy documents. Not as interesting as academic work, but a lot easier and it pays.

Anonymous1987

Deleted User wrote: »

I'm doing a bit of commercial research at the moment.

Its not as rigourous as the academic work, mainly I'm just putting together background reports which will form part of overall reports and strategy documents. Not as interesting as academic work, but a lot easier and it pays.

Could you elebarate? Is it like a strategy document on the energy industry and you get assigned to BP?

Anonymous1987

Anonymous1987 wrote: »

Could you elebarate? Is it like a strategy document on the energy industry and you get assigned to BP?

Something like that. I'm given topics to cover and told how far to go into each one. No real analysis, just gathering information.

noodler

Anonymous1987 wrote: »

Do you mind me asking if you have been doing voluntary internships? If so are they easy to come by and what was the work like?

I'd also be interested if anyone could tell me how commercial research with a bank differs from research at the Central Bank, ESRI, University etc? Is is simply more specific without theoritical input like industry and company reports?

Just one and its hardly relevant tbh. ESRI only seem to ire once a year and the comp is really tough. Gov agencies seemingly won't even accept unpaid internships at the moment due to the freeze.

Its tough out there at the moment alright.