Does anyone regret getting an economics degree ?

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flamingmoe
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Hi,

Just wondering if any undegrad economist regret their choices. I guess I am being more specific towards those who are not going to be a professional economist or academic.

I'm sure you'll agree if you went to a decent enough university your economics degree must have had some kick ass difficult combination of maths and essay writings and some more. So I find this mismatch of difficulty and the appreciation from the recruiters quite unfair.

Job market wise, you don't need any specific degree for a typical "analyst" role. Perhaps the tools you learnt in economics give you more of an analytical mind than others but I don't think its enough to give you an edge. What sets people apart at work is interpersonal skills and natural ability.

But other engineering/science/language degree holders can still take up these analyst jobs in banks/insurance/accounting companies and at the same time able to go into their degree specific roles. So I feel I am being hard done by the fact that I didn't really learn a unique set of skills or knowledges.

I have worse things to say about those who did business or accounting as a degree. But I think they are the smart ones - they still land the same kind of jobs as economists while cruising through their degree.

I guess it really comes down to viewing your degree as a tool for the job market. Clearly business/accounting students do. But we economists shouldn't.

What are your opinions ?
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Howbeit
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How is having an Economics degree a bad thing or regrettable? It's a really good degree to have which can get you many jobs! I'm not sure what all that malarkey is that people who do languages get more jobs in banking than economists?
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dsinghdahiya257
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Analytically and Mathematically capable minds are preferred by Banks and Financial Institutions. An Economics degree confirms your capability.
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flamingmoe
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(Original post by dsinghdahiya257)
Analytically and Mathematically capable minds are preferred by Banks and Financial Institutions. An Economics degree confirms your capability.
you're in for a surprise my friend. they don't give a toss what you studied. but you loose way more sleep than someone doing management.
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dsinghdahiya257
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(Original post by flamingmoe)
you're in for a surprise my friend. they don't give a toss what you studied. but you loose way more sleep than someone doing management.
I'm pretty sure jobs in the Front Office and Middle Office will require you to have taken A-level maths. A mathematical degree may not be required, but It'll give a boost to applications. I'd rather go into a financial job possessing a decent level of refined numerical ability, than waffling through a less demanding degree.
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ForKicks
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(Original post by flamingmoe)
Hi,

Just wondering if any undegrad economist regret their choices. I guess I am being more specific towards those who are not going to be a professional economist or academic.

I'm sure you'll agree if you went to a decent enough university your economics degree must have had some kick ass difficult combination of maths and essay writings and some more. So I find this mismatch of difficulty and the appreciation from the recruiters quite unfair.

Job market wise, you don't need any specific degree for a typical "analyst" role. Perhaps the tools you learnt in economics give you more of an analytical mind than others but I don't think its enough to give you an edge. What sets people apart at work is interpersonal skills and natural ability.

But other engineering/science/language degree holders can still take up these analyst jobs in banks/insurance/accounting companies and at the same time able to go into their degree specific roles. So I feel I am being hard done by the fact that I didn't really learn a unique set of skills or knowledges.

I have worse things to say about those who did business or accounting as a degree. But I think they are the smart ones - they still land the same kind of jobs as economists while cruising through their degree.

I guess it really comes down to viewing your degree as a tool for the job market. Clearly business/accounting students do. But we economists shouldn't.

What are your opinions ?

I know people who have changed from economics for that reason. They wanted jobs that could be achieved with any degree and thought the chances of a 2:1+ were better doing a different degree. However, for some financial jobs economics is a massive bonus and there are finance schemes that ask for econ/finance (or numerical) related degrees.

It all depends on whether you are willing to put the extra effort in to open the few exclusive subject-related doors there are. If you are not interested in economics or those jobs, then change.
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M1011
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(Original post by flamingmoe)
I have worse things to say about those who did business or accounting as a degree. But I think they are the smart ones - they still land the same kind of jobs as economists while cruising through their degree.
I'm listening :unimpressed:

Don't slate degrees you haven't done.
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Swayum
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The part in bold is the part that defeats your entire argument, the rest of it is detail.

First of all, your idea that degrees such as business/accounting/management are a doss compared with economics is completely unfounded I think. How do these people "cruise" through their degrees any more than you do? Have you ever looked through the lecture slides of a 2nd year management course?

Second of all, why do you regret your choice? People that do things like accounting cannot get jobs as economists, say, at the Bank of England. If your goal in life was to become an investment banker, then yeah you made a dumb choice if you don't really enjoy studying economics (but that was obvious from the start, no?).

Thirdly, if you DO enjoy economics but are annoyed that people doing management got jobs at banks and you (or your friends) didn't, that's probably more down to factors other than your degree. Ultimately, understanding the Solow growth model does not help an investment bank make money - why would they care that you know that model? They want people that they know will generate business for them and there are much more relevant factors for this than understanding economics models. Your degree makes you a candidate worth considering, but there are other factors such as extra-curriculars, work experience, online tests, cover letters, etc which bring you to the interview and then, at the interview, you as a person matter the most. Nothing you learn on your degree will be directly useful in most jobs, hence why nobody really cares about your degree.

We go through childhood/teenage years being told that good grades get you the best in life, e.g. doing well at GCSEs and A-level will get you to a top university. So people tend to develop this idea that "if I do well in my degree, all these firms will want me". But ultimately, if you were hiring someone and you wanted them to make you money, would you really care about the topics they studied? All you really care about is if they're hard working + sufficiently intelligent, which a 2:1 in accounting does show. After that, nothing about your grades/studies really matters, all that the firm cares about is how good you'd be in making money for them, which depends on every other factor apart from what you've studied at university.
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Londonpie72
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Thinking your degree is crap what do you think the employers are going to think got to be me positive and confident.

I studied Accounting and Finance if you think it is easy go ahead and do it. I get 5 exemptions from ACA exams so tell me that too is easy.
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ProStacker
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So, is the OP an out of work Economics grad who is bitter because he thinks he worked harder than anyone else and deserves better?
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newts2k
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(Original post by flamingmoe)
Hi,

Just wondering if any undegrad economist regret their choices. I guess I am being more specific towards those who are not going to be a professional economist or academic.

I'm sure you'll agree if you went to a decent enough university your economics degree must have had some kick ass difficult combination of maths and essay writings and some more. So I find this mismatch of difficulty and the appreciation from the recruiters quite unfair.

Job market wise, you don't need any specific degree for a typical "analyst" role. Perhaps the tools you learnt in economics give you more of an analytical mind than others but I don't think its enough to give you an edge. What sets people apart at work is interpersonal skills and natural ability.

But other engineering/science/language degree holders can still take up these analyst jobs in banks/insurance/accounting companies and at the same time able to go into their degree specific roles. So I feel I am being hard done by the fact that I didn't really learn a unique set of skills or knowledges.

I have worse things to say about those who did business or accounting as a degree. But I think they are the smart ones - they still land the same kind of jobs as economists while cruising through their degree.

I guess it really comes down to viewing your degree as a tool for the job market. Clearly business/accounting students do. But we economists shouldn't.

What are your opinions ?
Ok, do you know what you are interested in? At the end of the day, if you want an easier life at uni, do a Business degree and try and make sure you get a 2.1. A 2.1 in Business is much easier than Economics. This will ensure you have a crack at grad schemes. If you want more self-respect, you would do Economics as its a very respected degree.
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Johnflight
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Hey, I'm just completing my Msc post-graduate course in economics and I think there is something important I should point out. Economics can lead to many career paths, and its true that a lot of jobs don't mind so much what you studied, but care more about who you are as an individual. However, there are certain types of jobs that only someone with a degree in economics can apply for. Basically, in the 21st century, to be a professional economist, you need to have at least an undergraduate degree in economics, and increasingly, a post graduate one as well. What I'm talking about is the specific career path of being an economist. These jobs are not open to anyone else, so doing a degree in econ gives you that option if thats what your into
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