The tradeEconomistregularly seduces those who want to combine accurate diagnosis, impact on decisions and deep understanding of markets. Between the in-depth analysis of the data, the advanced advice and the realization of forecasts guiding the organizations, becomeEconomistmeans choosing a path or the rigour, curiosity and mastery of economic mechanisms are at the heart of the stakes, regardless of the sector. A university professor suggested that this taste for the decoding of economic phenomena was rooted in early internships or professional projects.
What is an economist?
The economist analyses economic, social or financial data to decipher trends, imagine developments in a sector – while making concrete recommendations to policy makers. Thanks to statistical tools and a rigorous method, it deconstructs the functioning of markets, organisations or public policies. In practice, its work serves to make the economy accessible and useful, including in complex choices such as government reform or major business investment.
This profession naturally attracts those who are fascinated by understanding value creation, not to mention those who like to look at the impact of policies or crises, and who want to support leaders in their orientations. Sometimes, a student discovers this vocation after he has addressed a current topic – a specialist who has seen it during orientation workshops.
Analysis, advice, forecasting: the daily life of an economist
Can you imagine an economist absorbed by Excel files or tufted reports? That's not totally wrong. Each day is rhythmic by collecting various data (indicators, statistics, economic news), modelling and producing summary notes for various interlocutors. There are many fields of action: finance, labour market, environment, monetary policies, etc. It is not enough to have love of numbers the ability to make analyses accessible to all is equally essential. A financial professor recently noted that pedagogy often distinguishes the most sought-after profiles.
Some emblematic activities:
- Conduct sectoral studiesor pilot macroeconomic forecasts, a classic expectation in large institutions.
- Adviser to various structures– enterprises of varying sizes, public bodies or banks (including international ones for certain confirmed profiles).
- Make impact notes, participate in cross-sectional analyses or issue strategic reports on sensitive topics.
- Take part in conferences, contribute to think tanks or intervene in the media on an ad hoc basis.
An economist finds himself regularly absorbing hundreds of data to reach a single recommendation, a little like a market detective. Can we really anticipate the impact of a crisis? The question remains open, as the variables are multiple.
Main missions and exercise areas
From a company to an international organization, the missions of an economist differ: research, private sector, administration, banking, or insurance. The driving thread remains to allow more informed choices by the power of analysis, and to support the strategic setback (some recruiters insist on the importance of the external look that an economist can bring).
At the heart of analysis and advice
An economist is often called upon to:
- Decrypt the structural movements and major developments of a national or international economy.
- Assessing the consequencesreforms or events (Brexit, climate crisis...) – a regularly central mission in the administration or the media.
- Support companies in their strategic investments or market reorientations.
- Participate in the establishment or improvement of public policies in the economic, social or environmental fields.
The majority of economists work in the public sector (INSEE, Banque de France, ministries, communities), in private enterprises (commercial banks, large industrial groups, consulting firms), or in large global institutions (OECD, IMF). It is also found in research centres and universities, proof of the variety of perspectives. A trainer recently said that the plurality of outlets allows each profile to shape its trajectory.
The freelance option seduces certain profiles: the one-off or specialized mission (often in the council or the sector watch) makes it possible to achieve great flexibility. There is nothing to rule out that one can live only on missions of expertise in economics: some testimonies show that it is playable, especially with a good network and a strong specialization.
Training and qualifications required
In order to gain access to the profession of economist, most offers require a baccalaureate+5 level to baccalaureate+7 – in master's degree in economics, econometrics, social sciences or even doctorate. This is a widely shared prerequisite for obtaining a qualified position, even if the doctorate opens specific doors (research, teaching, public institutions). One AFEP official insists on the special recognition of the doctorate in certain public sectors.
Education, courses and diplomas: how to guide?
The classical trajectory is to obtain a degree in economics or social sciences, then a master's degree (general economy, finance, or public policies among others), and possibly a doctorate. Public service competitions generally remain accessible at bac+5. Several major Sciences Po, ENSAE, Polytechnic... offer courses specifically adapted to the discipline. A school speaker mentioned the value of choosing her master's degree according to the new economic challenges (transitions, data, green economy...).
To be remembered to properly visualize the course:
- Bachelor of Economicsor equivalent, often in three years.
- Special Master– economy, finance, econometrics, or sector studies (an additional two years after licensing).
- Doctorate (count three years after the master's degree, advised on research profiles or high-level positions).
Is it possible to flourish economist without a doctorate? Yes, most jobs in business or administration do not know, even if the PhD remains valued for advanced research or expertise. On average, junior economists entering the labour market leave a master's degree at the age of 24-25. Note: some atypical courses emerge through conversion, specialized masters or progressive specialization after initial experience in statistics or social sciences (several HRs confirm this market opening).
Technical Skills and Personal Suitability
It is worth mastering advanced statistical analysis, modelling, econometrics... Not to mention the ability to popularize often complex concepts and synthesize various masses of data. In economics, curiosity, rigour and adaptability are necessary, as the sector moves relatively often.
Essential skills
What employers are looking for: candidates for both technicians and communicators. This often makes the difference:
- Excellent analytical and synthesis capacity, determining to turn complexity into clear lines of action.
- Mastery of statistical and computer tools, whether Excel, R, SAS or Python (criteria regularly targeted in recruitment).
- Ability to popularize and defend one's point of view, both oral and written, qualities that are increasingly valued.
- Curiosity, rigor, the desire to integrate very different contexts is the key to adapting to a moving profession.
Should we be passionate about mathematics? Relatively in most cases, yes. Manipulation of numbers, construction of models, interpretation of results: all this is part of everyday life. However, intellectual agility is almost as important: some economists sometimes divert their technical path to innovation, communication or crisis management positions, according to the opinion of several practitioners in the sector.
Wages, trends and prospects
Wage levels vary widely: depending on experience, field and degree, pay can change very quickly. On average, a beginner economist starts around2 400 to 2 600 € Gross/month(more than2 000 € Net), but a confirmed profile can claim to3,750 € Gross/monthor more, particularly in the private or international sector.
Wages, growth and job development
| Experience | Gross monthly earnings |
|---|---|
| Beginner | 2 400 to 2 600 € |
| Experienced | 3,000 to 3,750 € |
| Private sector/bank | Up to 4 000 € |
Some economists acting as trainers or lecturers perceive between1,500 and 10,000 €a significant complement. Pay increases depend on professional choices: public, private, international, or freelance (the latter sometimes allowing for billing at the mission). According to several sectoral barometers, the average gross hourly rate is within a range of17-18 €. Not negligible! The recognition of the profession is also based on its diversity and relative rarity: certain markets (bank, consulting, European institutions, etc.) show significant tension. For those aiming for a shift towards pure leadership or expertise, a PhD and a solid experience are often major levers. Little anecdote: sometimes a PhD holder is recruited into economic committees working on a European scale, according to a cabinet director.
Sectors, Opportunities and Career Opportunities
The economist works in large companies as well as in banking, administration, international organizations or consulting firms. Analyst, consultant, lecturer, researcher, economics teacher... There are multiple opportunities, each one being able to shape their own specialty or reorient themselves. Some note that the versatility of the profession helps avoid routine and enrich your career as it unfolds.
Where to work, what changes?
Some sectors particularly active in recruitment:
- Banks, insurance, international or local investment funds.
- Public institutions such as INSEE, Banque de France, ministries or various local authorities.
- Consulting firms (strategy, HR or economics), think tanks, NGOs or industry.
- Higher education, research centres, universities in applied economics.
Mobility is quite common: it is common to see an economist move from the public to the private sector, move towards the direction of studies or turn to research. Some start internationally or opt for data (digital analysis, fintech, economic intelligence). Unusually, profiles sometimes convert to strategic communication thanks to their ease in explaining and simplifying (a consultant mentioned this shift in a recent webinar). Should we specialize over time or remain generalist? The issue deserves reflection, as both avenues remain open according to market needs.
Close trades and differences: economist vs financial analyst, statistician, data analytics
Sometimes the jobs of economist, financial analyst, statistician or data analytics are confused. However, some differences come to light as soon as their daily lives and their missions are compared.
Comparison of neighbouring trades
| Trade | Objective | Major competences | Sectors |
|---|---|---|---|
| Economist | Global analysis & strategic advice | Statistics, economy, extension | Public, private, research |
| Financial Analyst | Market analysis, portfolio management | Finance, modelling, reporting | Bank, finance, investment |
| Statistician | Data processing, model creation | Mathematics, statistics, computer science | Industry, health, administration |
| Data analytics | Analysis of large databases | Data science, programming, visualization | Digital, company, retail, finance |
In practice, the economist stands out by a holistic approach and the ability to link data with public policies or strategic choices. The financial analyst focuses mainly on profitability, the statistician on mathematical models, and the data analytics on the technical exploitation of "data". At the end of the day, the economist is also the one who asks the question of meaning: why such a trend emerges, and not just how or how much.
FAQ – Frequently asked questions about the economist's profession
To refine your orientation, here are factual answers to frequently encountered questions (this FAQ was developed in particular from the feedback of a collective of teachers).
What is an economist?
He is a professional who analyses economic, social and financial data and phenomena to advise, predict and support decision-making in the private or public sector.
What training can be taken to become an economist?
Bachelor then master oriented economy, finance, statistics, econometrics (a minimum baccalaureate+5 is generally desired). The PhD is recommended if you target research or high responsibility functions.
What is the salary of a beginner economist?
Between2 400 and 2 600 € Gross/month, or beyond2 000 € Net.
Can we become an economist without a doctorate?
Yes, most jobs in business or administration are directly accessible from the master's degree. Rather, the PhD is required to target research or advanced expertise.
Where do economists work?
In companies, consulting firms, the civil service, international institutions or even higher education and research.
What differences with financial analyst/statistician?
The economist presents a more global vision, often strategic and linked to political issues, while the financial analyst targets financial performance, and the statistician measures and models phenomena.
Should we be good at mathematics?
Yes, ease with mathematics and statistics is essential, without neglecting the ability to write and analyze in a broad and nuanced manner.
What specialties?
Macroeconomy, microeconomy, econometrics, finance, labour market, public policies, development economy... There is a real diversity of paths according to tastes and opportunities.
What opportunities?
Banks, companies, public bodies (INSEE, Banque de France...), consulting firms, higher education, research, think tanks, NGOs. Others emerge according to economic conditions.
Useful resources, simulators and job offers
To deepen your research or better prepare your professional project, some references:
- CIDJ trade sheet– clear and synthetic presentation
- HelloWork Training and Wages Guide– indications of market trends
- India Course and Tips– advice for orientation or conversion
- INSEE wage simulator– for more data on compensation and sectors
- AFEP – Association of Economists– Professional network to exchange and inform
It is recommended that real-time job offers be regularly viewed on major portals (Employment Centre, Indeed, HelloWork) or that an orientation advisor be asked to customize his/her approach according to his/her profile. Recruitment is still done by network or co-optation, according to an HR engagement officer.
To go further: close trades, guides and guidance tools
Also do not miss the fact sheets on the professions of financial analyst, statistician, data consultant or social science researcher, to evaluate all possible options. Wage simulators, guidance guides or training directories facilitate comparisons, whether to calculate the potential for change or to select a specialization. In case of doubt as to the viability of an economist's project, it is recommended to consult expert testimony or download a guide drawn up by a collective of academics in order to clarify the different stages and points of vigilance of the course.