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)
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