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How to Become an Economist in India: Course, Skills, Career & Salary

Procedures, education, abilities, employment prospects, and pay for becoming an economist.
UniList Desk

Updated Mar 6, 2026 | 05:03 PM IST
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An economist works to understand how money, markets, and resources function in an economy. In India, economists analyse statistics and economic trends to advise governments, businesses, and organisations. They help design policies related to inflation, employment, trade, and economic growth.
This career offers opportunities in government agencies, research institutions, financial organisations, consulting firms, and international bodies.

Who Is an Economist?

An economist studies economic theories and uses statistical tools to understand financial and market trends. Their work involves analysing data, forecasting economic changes, and advising organisations on policies and business strategies.
Economists work in sectors such as finance, public policy, research institutions, consulting firms, and international organisations.

Step-by-Step Guide to Become an Economist

1. Complete Class 12

Students should complete Class 12 from a recognised board. Studying Mathematics, Economics, or Commerce in school can be helpful.

2. Pursue a Bachelor’s Degree in Economics

After Class 12, students should pursue an undergraduate degree such as:
  • BA in Economics
  • BA (Hons) Economics
  • BSc Economics
  • BCom or Business Economics
Admission to many central universities is through the Common University Entrance Test, while some universities conduct their own entrance exams.

3. Complete a Master’s Degree in Economics

A postgraduate degree improves career prospects. Popular options include:
  • MA in Economics
  • MSc in Economics
  • MCom in Applied Economics
Students interested in research or teaching often pursue a PhD in Economics.

Top Government Colleges for Economics

Several reputed institutions offer strong economics programs, including:
  • Delhi School of Economics
  • Jawaharlal Nehru University
  • Madras School of Economics
  • Indira Gandhi Institute of Development Research
  • Gokhale Institute of Politics and Economics
These institutions are known for strong academic training and research opportunities.

Important Skills Required to Become an Economist

Students interested in economics should develop the following skills:
  • Analytical and critical thinking
  • Data analysis and statistical skills
  • Knowledge of economic theory
  • Research and report-writing skills
  • Communication and presentation skills
Economists often work with large datasets and economic models to study trends and make predictions.

Career Opportunities for Economists

After completing economics courses, graduates can work in different sectors. Common job roles include:
  • Economist
  • Policy Analyst
  • Financial Analyst
  • Research Analyst
  • Data Analyst
  • Consultant
Top recruiters include organisations such as Reserve Bank of India, HDFC Bank, Deloitte, and McKinsey & Company.
Many economists also work with international organisations such as the World Bank and the International Monetary Fund.

Salary of Economists

The salary of an economist depends on education, skills, and experience.
Entry-level: ₹3–5 LPA
Mid-level: ₹7–12 LPA
Senior-level: ₹20 LPA or more
On average, economists earn around ₹6 LPA, while experienced professionals can earn significantly higher.
Economics is a promising career for students interested in finance, public policy, and data analysis. By pursuing a bachelor’s and master’s degree from reputed institutions such as University of Delhi or Jawaharlal Nehru University, students can build strong career opportunities in government, research, and corporate sectors.
Economists play an important role in shaping policies related to inflation, employment, trade, and economic development.

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