CAREER PROFILES OF ECONOMICS GRADUATES

Introduction This presentation aims to give a brief insight

into the day-to-day work of Economics graduates

The first few slides cover the work of economists, then the remainder cover graduates working in a range of job sectors from accountancy to transport planning

The profiles have been provided by a number of graduate recruiters and universities

Economist Career Profiles:

what do graduate economists actually do?

Government Economic Service– Dept. of Culture, Media & Sport– Foreign & Commonwealth Office

Bank of England SQW (consultancy) British Gas

NB - all but the GES and Bank of England will usually require or prefer a Masters degree

GES – Department of Culture, Media and Sport

“I perform economic analysis on a wide array of arts, heritage, creative industries and sports issues, and I have been involved in some really fascinating projects. For instance, I worked on London’s Olympic bid, helping to assess the economic impact that the games would have on the whole country. It was behind the scenes work but I still had the satisfaction of knowing that I contributed to the overall success. ”

GES – Foreign & Commonwealth Office

“Working as the Economist for the Iraq Directorate. I cover a wide range of economic issues such as how the UK government can help Iraq to increase its electricity supplies, the impact of removal of fuel subsidies on the Iraqi economy and encouraging broader regional and international engagement on Iraq’s economic issues though the International Compact with Iraq.  I also work on debt relief for Iraq”

Bank of England

“After an MSc Economics at the LSE I returned to the Bank’s International Economics Analysis Division as an analyst on the Euro area team. In addition to briefing the Monetary Policy Committee (MPC) on Euro area developments, I was responsible for forecasting a number of Euro area economies. There was an opportunity to undertake research in between MPC and forecast rounds as a result of which I co-authored a Quarterly Bulletin article on equity wealth and consumption in the Eurozone.”

SQW Consulting

I have worked on a large number of different projects for national, regional and local government clients. These have ranged from working on the national evaluation of a community development programme called Neighbourhood Management, to researching the environmental market in emerging economies including Brazil, India and Turkey

British GasRight after our induction week, I joined the Strategic Planning & Economics Department in Reading for six months. Very soon I had a real Economics Assurance role, helping to assess papers coming in for board approval. I also worked on a greenhouse gas emissions reductions project, and a ‘New Country Entry’, looking from start to finish at how to make a new venture viable in a new country – whether it’s worth entering, and if so, what different options or combinations of options might work for BG. I’m now getting another perspective by working in an operating asset in Trinidad & Tobago.

Don’t want to be an economist?

Accountant Actuary Airline manager Banking Careers adviser Journalist Management

Market research Media, advertising &

sponsorship Politics Solicitor

Some other jobs where Economics graduates are finding theirdegree useful:

Accounting

My route through the scheme has involved working with many different people on a wide variety of projects. I have worked on closing the accounts at year end at Islington Council, and have been responsible for explaining complex changes to pension policy to Hackney Council's Pensions Sub-Committee. Most recently, I have been working with a team of management consultants to implement a change project that will affect the Metropolitan Police's financial and resources infrastructure.

CIPFA trainee

Accounting

Most of my work is in internal audit. This means I work closely with the management of the client company, evaluating the controls over their business processes and making recommendations to improve the business. The reviews are highly varied – I may be assessing a client’s basic financial controls one week and then spend the next week working with Board of Directors to evaluate the effectiveness of their strategic planning. It is extremely rewarding work as we can make a real difference to the business.

CIMA trainee at KPMG

Actuary

I started out in financial modelling, which involved interaction with lots of different teams. Now I’m working in with-profits which is very specialised. A typical day begins with reviewing investment returns and monitoring payout levels to ensure they are within set limits. I also work on requests to value customers’ pensions, by taking account of how much they have received already and how much their money has grown. The rest of my day is spent working on calculations needed for generating bonus rates.

Actuarial trainee – Scottish Widows

Airline Management

As a Revenue Management Analyst, it is my job to sell the right ticket, at the right price, at the right time to the right person! I need to look at supply and demand of aircraft seats, capacity of aircraft, timing of flights, customer demographics and consumer behaviour and bring all of these elements together to sell the aircraft to generate the best revenue result Without a solid grounding in economics, I would not be able to do this job.

Commercial Graduate Trainee, Virgin Blue Airlines

Banking

My work involves reviewing mutual funds and hedge fundsthat Morgan Stanley are looking to write derivatives on, preparing detailed qualitative and quantitative analyses,and making sure that there are no significant changes or issues with these funds. I develop relationships with the funds, and am responsible for maintaining this relationship and communicating with the funds and their administrators regarding our holdings.

Careers adviser

Mary read economics at Cambridge and worked in politics (as an MEP's Research Assistant) and economic consulting (with SQW) before joining the Careers Service.

She has responsibility for careers in management consultancy and banking. She works closely with staff and students of the Faculty of Economics and at the Judge Institute of Management. She also advises on Supra-National organisations and their opportunities. She has just completed her postgraduate diploma in Careers Guidance

Journalist

Angela works on the economics desk of the Guardian, writing articles on everything from retail prices andthe housing market to international development and the labour market. She also writes occasional musicfeatures and reviews.

Prior to getting this job she took a journalism trainingcourse and had a series of work experience placements including three local papers, the Evening Standard, NME music magazine and a further education website

Management

I work as a business analyst for the Distribution department of an oil company, which involves ensuring that the right products get to the right place, at the right time. Currently I am part of a cross-functional team, which manages the introduction of a new oil product to the market. My responsibilities include preparing our depots, terminals and joint ventures for the launch, and coordinating any necessary changes to the storage and handling procedures of the new product.

Market Research

Every day is different: working for a range of different clients and juggling 6 or 8 projects at once keeps you on your toes. Today for example, I had to design a questionnaire, some changes to tables that I had run,and a request for extra analysis. My afternoon will hopefully be spent writing a report about some mystery shopping. I enjoy the analysis stage of projects, except when it needs to be rushed because a client wants it yesterday.

Media, advertising and sponsorship

I run global sports research projects focused on understanding the power of sport as a communication channel for blue-chip brands. Very simply, are they worth the investment and how can my clients get even more value from their association with sport? The most ‘fun’ is when I get invited to appear on TV and radio and explain the business implications of breaking sports news stories.

Politics I worked as a Political Research Assistant and

Head of Office for a Welsh MEP in Brussels. Working for an MEP in the European Parliament involves many differing areas of work, ranging from managing the diary and appointments to political research for his two committees within the European Parliament.

I followed the activities of these committees and prepared research and documents, as well as amendments for European Legislation. I also arranged for visitors groups from Wales to visit the European Parliament and researched replies from Constituents on a wide range of topics.

Now policy adviser for an international law firm and standing in this year’s European elections herself – many MPs/MEPs have economics degrees!

Politics

I'm a researcher to an MP, although in reality my job involves doing all the things that are required to enable an MP's office to run smoothly. As my employer is now a Cabinet Member I'm responsible for a lot of his constituency work. My responsibilities include writing press releases, updating Stephen's website, writing the occasional speech, dealing with constituent's enquiries, organising constituency events and managing the MPs constituency diary. My mixed background of politics and economics is a really sound base for understanding and communicating policy.

Solicitor

I work in the private equity team of, where I have worked on some fascinating deals … I have found that an understanding of the underlying economics and a familiarity with figures not only are very useful but also make the work more interesting and rewarding. The analytical and writing skills I honed as an economist are essential in reviewing documentation and drafting, while confidence with numbers is necessary to understand the client and their businessand to find the solutions they require.

Trainee solicitor at an American law firm in London

Transport Planner

I am based at Policy & Strategy, where we formulatePolicies and proposals for the future of transportin London. My job involves tasks such as conducting research, assessing available options and preparing briefing papers. To be able to understand the issues thoroughly and devise policies to make things better is the most satisfying aspect of my job.

Further profiles - employers

Government Economic Service– www.ges.gov.uk/profiles.htm

Bank of England – www.bankofenglandjobs.co.uk/our-

people/ SQW

– www.sqw.co.uk/recruitment/graduate-recruitment

LSE graduate profiles – www.lse.ac.uk/collections/

graduateDestinations/economics/graduateprofiles.htm

Further general information

Kent Uni Careers Website: www.kent.ac.uk/careers/Includes:– What can I do with my Economics Degree?

www.kent.ac.uk/careers/economics.htm– I want to work in … (80+ career areas)

www.kent.ac.uk/careers/workin.htm

Prospects website www.prospects.ac.uk– Includes:– Options with an Economics degree (includes case studies)

www.prospects.ac.uk/links/EconomDeg– Occupational profiles for 600 career areas

www.prospects.ac.uk/links/Occupations–

“Why Study Economics?” – includes case studies http://whystudyeconomics.ac.uk/jobs/

Careers Advisory Service

Open 9-5, Monday – Friday

01227 823480/1

Email: careerhelp @ kent.ac.uk

www.kent.ac.uk/careers