Hey there! Sign in to join this conversationNew here? Join for free
x Turn on thread page Beta
    • Thread Starter
    Offline

    14
    ReputationRep:
    Now I'm assuming this is in the US market as it's a US article, but why is there such low demand for an Economics degree? The report states 64% of respondents would hire someone with an Economics degree, as opposed to Accounting with 98%, Computer Science with 97%, and Finance with 91%.

    It was just the other week that I was reading a BBC article saying Economics is the second highest paying degree, narrowly losing out to Medicine.

    Is Economics not as highly respect in other countries?
    Offline

    14
    ReputationRep:
    (Original post by ImNotSuperman)
    Now I'm assuming this is in the US market as it's a US article, but why is there such low demand for an Economics degree? The report states 64% of respondents would hire someone with an Economics degree, as opposed to Accounting with 98%, Computer Science with 97%, and Finance with 91%.

    It was just the other week that I was reading a BBC article saying Economics is the second highest paying degree, narrowly losing out to Medicine.

    Is Economics not as highly respect in other countries?
    too easy to get on to, and too many people do it. Why would you hire economists to do something when you could get a team of more specialised people to do it (such as a mathematician, an accountant, a comp sci graduate)
    • TSR Support Team
    Online

    21
    ReputationRep:
    TSR Support Team
    Skills and experience > degree course, every time.

    Posted from TSR Mobile
    Offline

    19
    ReputationRep:
    (Original post by Princepieman)
    Skills and experience > degree course, every time.

    Posted from TSR Mobile
    the thread's about the demand for Economics degrees relative to other degrees, not degrees in general relative to skills and experience
    • TSR Support Team
    Online

    21
    ReputationRep:
    TSR Support Team
    (Original post by StrangeBanana)
    the thread's about the demand for Economics degrees relative to other degrees, not degrees in general relative to skills and experience
    I know but there aren't any inherent differences say, between an Econ student and a A&F student for instance. Hiring managers ultimately want skills+experience, degrees may be a proxy for that but for the most part they aren't. Whether there's 'demand' for a degree (which isn't professional in and of itself) is not important, what is important is demand for skills amd experience.

    CS might be a proxy for 'good programming skills', but if an Econ student with better programming skills and a greater array of prior experience rocks up for a software engineering job they'll edge out the CS student.

    Hence: skills + experience > degree.
    Offline

    12
    ReputationRep:
    TLDR Despite Econ students being good generalists, the advantage of being a good generalist is triumphed by having a specific skill in acc/fin/maths for majority of general finance roles.

    (Original post by richpanda)
    too easy to get on to, and too many people do it. Why would you hire economists to do something when you could get a team of more specialised people to do it (such as a mathematician, an accountant, a comp sci graduate)
    This isn't entirely true. Although a lot of generalist roles in finance now prefer a degree in Mathematics of A&F, there are plenty of openings for a position of Economist or researcher which requires 50%+ Economics content in one's degree. (Not sure why compsci came out in your example neither, as there is very little overlap between compscis and economists in terms of career). Furthermore the competition for top Economics courses in the UK tend to be fiercer than any of the other degrees you mentioned, so I'm not entirely sure where you got the "too easy to get on to" from.

    Although I do agree there are far too many Economics undergraduates in the UK, majority of whom wish to become bankers.

    (Original post by ImNotSuperman)
    Now I'm assuming this is in the US market as it's a US article, but why is there such low demand for an Economics degree? The report states 64% of respondents would hire someone with an Economics degree, as opposed to Accounting with 98%, Computer Science with 97%, and Finance with 91%.

    It was just the other week that I was reading a BBC article saying Economics is the second highest paying degree, narrowly losing out to Medicine.

    Is Economics not as highly respect in other countries?
    To answer the OP's question, Bachelor's degree in Economics produces very well-rounded graduates, who are able to, and do work across many different sectors.

    However the problem occurs as majority of Economics graduates pursue a generalist career in finance. Clearly someone who has studied A&F is going to be at an advantage working a general role in finance, as that is what they studies over the course of their degree. Some roles in this sector (for example derivatives trading) which requires more maths will be filled with a Mathematics student rather than an Economics student, as both their knowledge in the financial sector and finance in general is likely to be similar, however the mathematician is clearly going to be better at the maths required for the role.

    But, should you choose to go for a role of an Economist or work in FICC side of banking, a degree in Economics is advantageous/compulsory, so I wouldn't say a degree in Economics is considered disrespected.

    (source: job hunting experience)
 
 
 
Reply
Submit reply
Turn on thread page Beta
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: May 9, 2016
Poll
Do you agree with the proposed ban on plastic straws and cotton buds?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.