Career as an Economist in India: Degrees, Jobs and How to Begin

Management Consulting & Corporate StrategyBanking & Financial ServicesPublic Policy, Government & Civic Tech

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At a glance

An economist analyses markets, prices, jobs and government policy using data and models; in India most start with a B.A. or B.Sc. in Economics, then an M.A.

An economist studies how people, businesses and governments use scarce resources, and uses data and models to explain prices, jobs, growth and the effect of policy. In India, economists work in banks, consulting firms, policy think tanks, government research units and corporate strategy teams.

Most people start with a B.A. or B.Sc. in Economics after Class 12, though students from commerce and humanities streams can also enter the field. A Master's in Economics is the usual next step for analyst and economist roles, and a PhD is needed mainly for academic and senior research posts.

Expect a lot of data work, reading and writing. Students who enjoy maths, statistics and current affairs usually find the path rewarding.

Minimum Qualification
Bachelor's degree (Economics preferred)
Typical Degree
B.A. or B.Sc. Economics, then M.A. Economics
Expected Entry Salary
To be verified (see Salary Insights)
Entry-level to Senior
To be verified
Job Demand Growth
Not confirmed in research; team to verify
Work Hours
Mostly office-based; longer hours near deadlines
Places of Work
Banks, consulting, think tanks, government, universities

What Does an Economist Do?

Day-to-Day Responsibilities

  • Collect and clean economic data, such as prices, employment, trade and household spending, from official and private sources.

  • Build models and run statistical tests to explain trends and forecast outcomes such as inflation or demand.

  • Study how a policy, tax change or market shock is likely to affect businesses, consumers or regions.

  • Write reports, briefing notes and forecasts for clients, senior managers or policymakers.

  • Present findings in charts and slides and explain uncertainty in plain language.

  • Follow current events and budget announcements, and update forecasts when new data is released.

  • In consulting or corporate roles, assess market size, pricing and competition to support business decisions.

Where They Work

In India, economists typically work in banks and financial institutions, where they track interest rates, inflation and credit conditions; in management consulting firms, where they advise on market entry and pricing; and in the strategy and finance teams of large companies.

Policy think tanks, government research units, planning bodies, international organisations, NGOs and universities also hire economists. Research roles in universities and institutes usually expect a Master's or PhD.

How to Become an Economist in India?

After Class 12

Choose any stream. Commerce and humanities students commonly take up economics, but Mathematics in Class 12 helps with the quantitative side of the course.

Undergraduate

Complete a B.A. or B.Sc. in Economics, usually 3 years. Build a strong base in microeconomics, macroeconomics, statistics and mathematics.

Postgraduate and Specialisation

Take an M.A. or M.Sc. in Economics, usually 2 years, or an MBA with a finance or strategy focus for consulting and corporate roles. Choose econometrics or data electives where possible.

Research and Doctorate (optional)

An MPhil or PhD is needed for academic posts and many senior research roles, and typically takes several years.

Licence / Certification

Most economist roles do not require a licence. Short courses in data tools such as Excel, R, Python or Stata can strengthen your application.

First Job

Entry roles include research associate, economic analyst and junior consultant. Build a portfolio of reports or analyses to show employers.

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Eligibility and Subjects Required

Stream and Subject Requirements

  • Commerce, humanities or science: economics can be studied from any of these streams in Class 12.

  • Mathematics in Class 12 is strongly recommended for statistics and econometrics.

  • Economics as a Class 12 subject helps but is not always compulsory for undergraduate admission; check each college.

Minimum Qualification

  • Undergraduate: Class 12 pass from a recognised board. Each college sets its own cut-off, often based on Class 12 marks, and some universities also use entrance tests.

  • Postgraduate: a bachelor's degree with Economics or a related subject. Many colleges also accept B.Com graduates; check each college's notice.

  • Economist roles in banks, consulting and policy usually ask for a Master's degree; research posts usually ask for a PhD.

Courses and Degrees for Economist

  • Undergraduate Degrees
    • B.A. (Hons) Economics (3 years)
    • B.Sc. Economics (3 years)
    • B.A. Economics (Programme) (3 years)
    Postgraduate Degrees
    • M.A. Economics (2 years)
    • M.Sc. Economics (2 years)
    • MBA with Finance or Strategy specialisation (2 years)
    Doctorate
    • PhD in Economics (typically 3 to 5 years)
    • MPhil in Economics (2 years)
    Diplomas
    • PG Diploma in Applied Economics or Business Economics (1 year)
    Certifications & Short-term Courses
    • Econometrics and data analysis with Stata, R or Python (a few weeks to months)
    • Excel and financial modelling course (a few weeks)

Skills Required to Become an Economist

Technical Skills

  • Statistics and probability
  • Econometrics and regression analysis
  • Microeconomics and macroeconomics theory
  • Excel and data handling
  • R, Python or Stata for data analysis
  • Data visualisation and charts

Soft Skills

  • Critical thinking
  • Clear written communication
  • Explaining numbers simply
  • Attention to detail
  • Curiosity about current events
  • Teamwork under deadlines

Economist Salary in India

0 to 2 years

Entry Level

To be verified

  • Typical titles: Research Associate, Economic Analyst, Junior Consultant
  • Collecting and cleaning data, running standard analyses, drafting notes and reports

3 to 7 years

Mid Level

To be verified

  • Typical titles: Economist, Senior Analyst, Consultant, Policy Advisor
  • Owning analyses, building models, leading client or policy workstreams

8+ years

Senior Level

To be verified

  • Typical titles: Chief Economist, Head of Research, Principal Consultant, Director
  • Setting the research agenda, advising senior leaders and representing the view to clients or the public

Career Opportunities and Job Roles

Economic Analyst

Tracks macroeconomic and sector data for a bank, investment firm or corporate treasury team.

Management Consultant (Economics and Strategy)

Advises companies on market sizing, pricing, market entry and cost decisions.

Policy Analyst

Assesses government schemes and regulations for think tanks and public bodies.

Research Associate

Supports research projects in universities, research institutes and think tanks.

Financial Economist

Models interest rates, inflation and credit risk for banks and financial institutions.

Development Economist

Studies poverty, health, education and growth for NGOs and international organisations.

Chief Economist

Leads the research function and gives the official economic view of a firm or institution.

Scope and Future of Economist in India

Demand for economic analysis tends to grow with the economy and its complexity. Headlines in 2025 and 2026 pointed to strong growth: a Reuters headline reported GDP growth of 7.8% for April to June 2026, and an Economist headline projected that India would become the world's fourth-largest economy.

Growth sectors include financial services, fintech, consulting, data-led policy work and sustainability. Public finance, statistics and planning bodies also hire economists, and demand for policy work that uses data is rising.

Abroad, economists work in global banks, central banks, consulting firms, universities and international organisations. Many overseas research and central bank roles ask for a PhD or a strong Master's, so students planning to work abroad should check country and employer requirements early.

Is Economist
the Right Career for You?

Economist can be an exciting career, but the right choice depends on more than academic eligibility.

Interests

What excites you?

Aptitude

What are you good at?

Personality

How do you work?

Work Preferences

What kind of environment suits you?

Discover careers that match your interests, strengths and preferences.

See how well this career fits you

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Economist: Frequently Asked Questions

What is an economist?

An economist studies how markets, businesses and governments allocate scarce resources. They use data and models to explain trends such as inflation, employment and growth, and to assess what a policy change is likely to do. Economists work in banks, consulting firms, think tanks, government bodies and universities.

Can I become an economist after B.Com?

Yes, many students do. A B.Com graduate can usually apply for an M.A. in Economics, though some colleges expect economics or maths at undergraduate level. Build your statistics and economics skills through electives or short courses, and check the eligibility notice of each college before applying.

Is economics a good career in India?

It can be, especially for students who enjoy data and current affairs. Demand exists in banks, consulting, policy and research, and the work is intellectually varied. Pay and progression depend heavily on the sector, the degree and the employer, so compare roles carefully rather than relying on a single figure.

Do I need a PhD to become an economist?

No, not for most roles. A bachelor's degree opens entry-level work, and a Master's in Economics is the usual requirement for analyst and economist jobs. A PhD is mainly needed for university teaching, central bank research and senior academic roles.

What is the difference between an economist and a financial analyst?

Economists usually look at broad forces such as growth, inflation, trade and policy. Financial analysts usually focus on specific companies, securities or markets and their valuations. The two roles overlap, and many people move between them, especially in banks and investment firms.

Which entrance exams matter for economics courses?

Admission to many central and state university economics programmes involves national or university entrance tests, and some colleges also use Class 12 marks. Exam names, dates and eligibility change each year, so check the official notice of each university before planning your application.

Can economics graduates work abroad?

Yes. Graduates work in global banks, consulting firms, international organisations and universities. Requirements vary by country, and research roles often ask for a Master's or PhD, so plan your postgraduate study with the target country in mind.

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