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An economist’s job is to study complex data and statistics and use this to deliver predictions of future trends. This can be used to establish training or investment requirements, or to assess the feasibility of a proposed project.


Average salaries are in the region of £42,000.00 to £55,000.00. Salaries will vary depending on location / employer

Career Profile

An Economist’s job is to study complex data and statistics and use this to deliver predictions of future trends. This can be used to establish training or investment requirements, or to assess the feasibility of a proposed project.

What they do

This role involves gathering and analysing huge amounts of data from sources including government figures, publications, web-based research and industry surveys.

An Economist will then assess what can be derived from these figures in terms of likely future trends, and how this in turn will impact on a organisation's medium to long terms plans for investment and growth.

This is a highly technical job that involves advanced modelling techniques, which needs a detailed understanding of economics. A key skills for an Economist is to then interpret that data and present it in a way that is clear and understandable for everyone. 

In your role as an Economist, you would be: 

  • Gathering information from multiple sources
  • Researching and understanding economic models and trends
  • Using computer programs to analyse data collected
  • Meeting with colleagues and clients to share information
  • Preparing reports explaining the potential economic impact of different decisions
  • Making presentations to technical and non-technical audiences
  • Preparing forecasts that enable organisations to plan the allocation of resources
  • Predicting future market requirements

Hours & Salary

  • Newly trained economists can earn in the region of £25,000-£33,000
  • Trained with experience economists can earn in the region of £43,000-£55,000
  • Senior, chartered or master economists can earn in the region of £60,000-£85,000

Salaries typically range depending on location and level of responsibility.

As an Economist you'll usually work standard office hours, Monday to Friday, but there are likely to be occasions when it is necessary to work late, particularly in more senior roles.


 

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Qualifications & Training

What qualifications or subjects do I need for this role?

There are a number of routes that can lead to a career as an economist but most will require a degree or equivalent in economics or a related subject like business studies, maths or physics.

Many employers will also look for candidates with postgraduate qualifications such as a Masters in Economics. 

Want to find out more?

Try our Matching Service for work experience opportunities in your local area, with new opportunities being added on a regular basis. 

Looking for a vacancy?

Here are some construction vacancy websites you may find useful: 

Indeed

The number of jobs vacancies related to your preferred job role may vary daily, as these are external websites. Check regularly to see new opportunities as they are posted.

Career trends and forecasts

16,690 addiitional staff needed

According to the latest Construction Skills Network research, the UK construction industry will need an a total of non-construction professional, technical , IT and other office based staff (which includes Economists), every year for the period 2017 - 2021. The majority of this demand will be in the South West followed by a fairly even spread across East Midlands, Yorkshire and Humber, Scotland and Wales.

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Find out more about other roles in the construction industry and what they involve.

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