As an economist you can rake in respectable salaries at the very beginning of your career. Landing up in a government job can earn you at least INR 20,000- INR 25,000 a month as assistant. The salary of more experienced individuals stands something around INR 30,000 a month (average). Seniority or experience plays a major role in determining salaries of Economics teachers or professors where the average salary is something between INR 35,000 – INR 40,000. Here is more:

The salary range moves northward with proportional increase in number of years at a particular organization:

Years of experience Average Salaries per annum
1-4 years INR 133805 – INR1479489

Salary variations are also dependent on the corresponding costs of living in different state/provinces and cities. Though not much information regarding salaries in all the metro cities is available, we are providing you details of economists’ salaries in Mumbai, Maharashtra:

City/Province/State Average Salaries per annum
Mumbai Maharashtra INR 406946 – INR 1277426

As economists, you in all probability will be entitled to a series of perks and benefits (listed below) most of which will vary according to your experience in the field, the place you live, your degree, the industry you are in and the like. Here’s more:

Perks and Benefits:

Cash Bonus

Years of Experience Bonus
Less than a year INR 11000
1-4 years INR 30000
Key Subject/Degree Bonus
Master Degree INR 101000
Cities Bonus
Bengaluru INR 6000
Mumbai INR 50000
Delhi INR 52500
Employer Type/Skills Bonus
Company INR 35000
Research Analysis INR 11000

Paid Vacation Weeks

Years of Experience Vacation
Less than a year 0 weeks
1-4 years 2.6 weeks
5-9 years 4.5 weeks
Cities Vacation
Bengaluru 1 week
Mumbai 3 weeks
Delhi INR 52500
Employer type/skill/industry Vacation
Research Analysis 1.7 weeks
Firm/Private Practice 1.0 weeks
Company 3.0 weeks
Banking 5.5 weeks

Education Required

For a Bachelor’s Degree in Economics you should clear your +2 examinations with a minimum of 50% in the aggregate to get yourself admitted in a decent college.
After completing you graduation you can choose from a host of courses in Economics which include:

  • M.A (Business Economics)
  • M.A (Applied Economics)
  • M.A (Economics)
  • M.SC (Economics)
  • Master of Business Economics or M.B.E
  • Post Graduate Diploma (Economics)

After finishing Post Grad you can pursue any one of these courses:

  • M.Phil (Economics)
  • Ph.D (Economics)
  • M.Phil (Analytical and Applied Economics)