What You Can Do With a Degree in Strategy and Economics
Behind the success of most businesses is a person, or a group of people, tasked with creating a business strategy based on economic factors. Depending on market and industry trends, for example, a business strategist might decide to increase the prices of a popular service or begin international expansion while certain currency conversion rates are favorable.
If you want to get ahead in the world of business, and you believe that you have a strategic mind that can see the bigger picture, then earning a degree in strategy and economics might be ideal. Although these degrees are occasionally offered at the undergraduate level, they are most popularly offered at master's degree programs.
Discover more about what you can do with a degree in strategy in economics, where you might be employed, how much you can make and what it takes to succeed in this difficult and demanding industry.
Careers in Strategy and Economics
When you earn a degree in strategy and economics, you can expect to study things like urban economics, game theory, international business strategy, corporate strategy, management accounting and energy strategies. Being fluent in these areas means that graduates will be ready to tackle a number of different careers in the world of business. On a smaller level, graduates might want to become entrepreneurs, using the skills they learned in college to run a successful small business.
Alternatively, graduates might choose to work for large international corporations who require extensive research on markets, trends and global currencies before making any major business decisions. To make these tough calls are the graduates of a strategy and economics degree, who might be working with titles like economic strategic adviser, financial manager, managing consultant, merger and acquisitions professional or commerce analyst.
Typical Work Environments Within the Industry
Depending on the kind of career that graduates choose, there are a range of environment in which they might work. Typically, graduates holding a degree in strategy and economics will go into upper business management, which translates to a more formal and professional work environment.
The overwhelming majority of careers in strategy and economics will be in professional offices, and many employees will stick to a traditional nine to five work schedule. However, there can be a number of variations beyond that. For instance, someone who works primarily in mergers and acquisitions might have to travel frequently, working with one company for a few weeks until moving on to the next. Travel, and in particular international travel, is typically a requirement of work in the world of strategy and economics.
Average Salaries for Those in Strategy and Economics
Perhaps the biggest attraction to the field of strategy and economics is the impressive salaries that accompany many of the careers. The typical salary for a financial manager in the United States is an impressive $115,000 each year, and more specialized careers can enjoy even higher salaries.
A strategy manager who works in mergers and acquisitions, for example, might expect to earn $128,000 annually. In addition to these impressive salary numbers, many of the careers in strategy and economics come with additional perks like health insurance, pension plans and extra work benefits ranging from free cafeteria meals to free transportation. Those working in international destinations as expats might even get to enjoy free housing and an overseas living stipend for their entire family.
Attributes of Successful Professionals Working in Strategy and Economics
Although the pay can be wonderful, working in strategy and economics is no walk in the park. To succeed, professionals will need to work hard and often spend long hours in the office, particularly when the market is volatile or a big move is about to occur.
Successful professionals in strategy and economics should also be analytical thinkers who can come up with creative solutions and see the bigger picture when making decisions. Confidence, and a decisive personality when it matters, are also vital to roles in this field. Finally, professionals need to be financially savvy and have excellent math skills.
Earning a degree in strategy and economics paves the way for a number of managerial and economic roles around the world. Graduates can expect impressive salaries as well as challenging but fulfilling positions.