Career Choices for Economics Students Jenny Keaveney Careers Advisory Service February 2009

What this session will cover: n Where to start n What are your career options? n What do you want from your career? n Using your degree? n Relating your skills, interests and values to careers and jobs n How can the Careers Service help?

Where do I start? You could: n start from yourself and work out n start from your opportunities –for Economics graduates specifically or –for graduates in general and work back n Or, combine the two!

Starting with yourself …. n Your interests n Your skills n Your values n Your personal circumstances n Any other factors

Starting with your degree n What do Economics graduates do? n What careers will use your subject knowledge? BUT …. n There is more to you than your degree!

Starting with your opportunities.. n One-third of advertised graduate jobs open to graduates in any subject n For example: advertising, accountancy, banking, marketing, personnel, public sector management, n Plus all the unadvertised graduate jobs! n Even more opportunities after experience and training

STARTING WITH YOURSELF

Your interests “I want something interesting” n What sort of things interest you? –your degree subject? –your leisure interests? –working in a particular way? n How important are these interests when other factors are taken into account?

Your skills n Motivation & enthusiasm n Team working n Communication skills n Flexibility & adaptability n Initiative & self-reliance Some of the skills which employers look for in graduates

Your values “Values are what gives purpose to a job in the eyes of the person who does it” n “I want to do something worthwhile.. “ n “I want to earn a good salary” n “I want to be my own boss eventually” What motivates you?

STARTING WITH YOUR DEGREE

What do Economics graduates do? (National statistics for 2007 graduates) n Employed 55% n Further study13% n Working and studying15% n Not available 6% n Seeking employment 6%

What do Economics graduates work as? n Business & Financial 47% –Accountants; financial and business analysts; brokers; economists; finance and investment advisers n Commercial, industrial and public sector managers 14% n Marketing, sales and advertising 5% n Others34% –inc. teaching; surveying; police; marketing; IT; sports National statistics for 2007 graduates:

Some of the jobs obtained by 2007 Economics graduates from Kent University n Stock Market Trader n Associate – Merrill Lynch n Auditor – Audit Commission n Trainee CFA/Investment Coordinator – National Bank of Dubai n Trainee Chartered Accountant n Client Adviser – UBS n Charity Fundraiser n Cost Management Administrator – supply chain co. n Assistant Economist – HM Treasury

Opportunities to work as an economist n Government Economic Service n Bank of England n Other public sector bodies n Consultancies n Banks n NGOs NB - all but the first two will usually require or prefer a Masters degree

Postgraduate study in Economics n Important if you hope to work as an economist, especially in consultancy or research n Offers advanced training in core theory, quantitative/econometric methods and research methods, plus opportunities to specialise n Available through taught courses or research

Postgraduate study in other areas n A wide range of courses available in related areas, e.g. finance n Study for professional qualifications – often while working. Available in many career areas n Study a new subject – e.g. social work, IT, property, politics, law See or come to the talk on 18th February

There is more to you than your degree! n Many employers will recruit graduates from any degree background n Even where they do specify a particular degree subject or class, this is just the start! n It is the skills you can offer that will be the deciding factor for employers n and your own values and interests that will affect your decision

STARTING WITH YOUR OPPORTUNITIES

Some of the options available Advertising Armed Forces Arts admin Broadcasting Central & Local Gov’t Computing/IT Finance Guidance/Counselling Journalism Law Library/Information work Market research Marketing/Sales Management Consultancy NHS Management Personnel Police Public Relations Publishing Purchasing Retail Self-employment Social Work TEFL Teaching Tourism Transport

Who do graduates want to work for? Which of the following came top in the Times Top 100 survey last year? Accenture? (management consultants) PWC? (chartered accountants) The BBC? Goldman Sachs? (investment bank) The NHS? The Civil Service? Aldi (retail)?

Who DO graduates work for? Roughly what percentage of graduate jobs are formal “graduate training programmes” with big recruiters?  20%?  40%?  30%?  50%?

20% Most graduates go into: n Jobs where they will be filling a specific vacancy n Jobs with small/medium sized employers n Jobs in the public sector n Short-term/temporary jobs

Graduate jobs are changing … n “Traditional graduate jobs” include large company training schemes, the professions (law, accountancy, teaching etc) n “Newer graduate jobs” have emerged in the last 20 years. Many are administrative or specialist posts n Moving between employers to develop your career is now the norm

Putting the two together.. n Relate your skills, interests and values to careers and jobs n Use computer guidance systems e.g. Prospects Planner n Look at job ads and job descriptions n Talk to people about their work and how they got their jobs n Use careers websites and the Careers Information Room n Get first-hand insight into careers of potential interest to you

Getting an Insight n Summer Internships –IFS (Closing date 13th February) –Accountants –Banks n Other Work Experience n Volunteering n Networking

Further Information – in print and in person n Careers Advisory Service booklet – “Choosing a Career” n AGCAS Booklet “Your Degree… What Next?” - sections on Choosing your Career and Graduate Careers n CAS Reference Files n Careers Advisers – for careers guidance interviews or “quick queries” n Alumni Careers Network and Careers Fair

Further Information – on the web n Careers Advisory Service web pages “What Can I Do With an Economics Degree?” n Prospects website –Options With Economics – “Where Do I Start?”

Some final tips on choosing a career n Take time over your choice n Be realistic n Do the research n Make your own decision n Use the Careers Advisory Service n Start now!

Choosing a Career Careers Advisory Service Opening hours: 9am - 5pm Monday - Friday