What can I do with an Economics and Government degree?
January 6, 2011 3:42 PM Subscribe
I'm currently a Harvard undergrad majoring in Economics and minoring in Government and I am still somewhat unsure of what career paths to pursue after college. The typical route for others like me is of course ibanking or consulting I was wondering what other options for work right out of college are out there, or what some good resources are to research those options. Additionally, I was considering pursuing a Masters in Economics and was wondering whether that is a worthwhile pursuit, or whether its simply better to get a PhD or not bother at all. Thanks.
Here are some of my personal details:
1. Plan on Graduating with an Honors Degree
2. Plan of writing a Thesis on Antitrust Legislation
3. Weak Math Background
4. Strong Gov't Background in Political Theory
Here are some of my personal details:
1. Plan on Graduating with an Honors Degree
2. Plan of writing a Thesis on Antitrust Legislation
3. Weak Math Background
4. Strong Gov't Background in Political Theory
You probably won't get a very good response here. The best answer quite honestly is to read voraciously and broadly. Try to figure out what interests you and what you might want to do professionally. The New Yorker often profiles very interesting people. Get a subscription and browse its back issues. Get inspired.
posted by prunes at 4:11 PM on January 6, 2011
posted by prunes at 4:11 PM on January 6, 2011
I know lots of people with your background who went to work as legislative assistants to senators or members of congress, focusing on their areas of interest and helping to craft policy and draft legislation. So, for example, if you wanted to work on antitrust, you could check out the members of the senate subcommittee on Antitrust, Competition Policy, and Consumer Rights for potential employers.
posted by *s at 4:11 PM on January 6, 2011
posted by *s at 4:11 PM on January 6, 2011
A degree from a renowned liberal arts school such as Harvard College isn't a job training program so much as it is a signaling mechanism. An employer for nearly any entry level job isn't expecting you to have learned much information in college that makes you more qualified than the next guy. Most employers understand that recent grads really don't know much of anything useful yet. But they want to know that you can learn to be useful. Having a college degree is a signal to employers that you are smart enough to get into a good school, dedicated and hardworking enough to finish, and good enough at playing by the rules to figure out what your professors want from you and give it to them. Those are the "soft" skills that employers want.
Long story short, your degree qualifies you for an entry level job in pretty much any field you're interested in. So, what are you interested in?
posted by decathecting at 4:12 PM on January 6, 2011 [2 favorites]
Long story short, your degree qualifies you for an entry level job in pretty much any field you're interested in. So, what are you interested in?
posted by decathecting at 4:12 PM on January 6, 2011 [2 favorites]
I went to Harvard and graduated 25 years ago this June. Every single person I know who went into consulting and ibanking (and that's lots of them) does something completely different now. So if it seems fun to you, do it for now; you won't be stuck with it.
And yeah, I would for sure work up my math if I wanted to move ahead in economics. Master's degrees are useless in most fields, including economics, and you'll need strong math for a Ph.D. program. Or you could do something like an MPA. Grad school isn't a bad idea if you can swing it financially, because it's a super-tough job market right now.
Other things to think about are something in the non-profit sector, and something in health care.
posted by Sidhedevil at 4:17 PM on January 6, 2011 [1 favorite]
And yeah, I would for sure work up my math if I wanted to move ahead in economics. Master's degrees are useless in most fields, including economics, and you'll need strong math for a Ph.D. program. Or you could do something like an MPA. Grad school isn't a bad idea if you can swing it financially, because it's a super-tough job market right now.
Other things to think about are something in the non-profit sector, and something in health care.
posted by Sidhedevil at 4:17 PM on January 6, 2011 [1 favorite]
Doesn't Harvard have a world class career center? I don't think AskMetafilter is going to be helpful. Just get a job at McKinsey or a lesser second tier consulting place and hang out until you want to do something else.
I personally believe a couple of years of work experience is really valuable because it helps you realize what you hate doing. It took me four years to pin down what I hated dealing with, but unfortunately, I spent a lot of money going to grad school first in a field I no longer really care about.
posted by anniecat at 4:42 PM on January 6, 2011 [1 favorite]
I personally believe a couple of years of work experience is really valuable because it helps you realize what you hate doing. It took me four years to pin down what I hated dealing with, but unfortunately, I spent a lot of money going to grad school first in a field I no longer really care about.
posted by anniecat at 4:42 PM on January 6, 2011 [1 favorite]
With your background, becoming a lawyer seems natural. Does such a career interest you?
I second the suggestion to seek career counseling at Harvard. Talk to your advisor and faculty.
posted by lukemeister at 4:59 PM on January 6, 2011
I second the suggestion to seek career counseling at Harvard. Talk to your advisor and faculty.
posted by lukemeister at 4:59 PM on January 6, 2011
1. Talk to your career center. They can help you think about what jobs exist, and connect you to alumni doing those jobs, who you can "informationally interview" to ask them how they got to where they are now.
2. Talk to your profs or the grad students who you have more close contact with in courses that you are interested in - ask them your question about what a master's is good for. Get several opinions, and if the degrees are only required for a career in academia, resolve to take 5 years off school before pursuing them (unless you are actually on fire to be in academia).
3. Do not assume that you need to go to grad school. Don't go to grad school just as a default option because staying in school seems familiar and safe. Wait until you have some clear plan that requires grad school - you will get more out of it and waste a lot less time this way.
4. Don't write off i-banking or consulting because they seem too mainstream - if you spend a couple of years doing either you can:
- save up some money (or pay down your loans),
- build up real-world work skills (very different from being in college, and you'll have to spend a couple years learning these skills at some point, so your first years out of college is a great time),
- build up your resume (you'll be able to say you were employed for x years, you have employer references, you had xyz quantifiable workplace achievements, etc)
- get a better sense of what real-world jobs you like/want to do, and most importantly
- get a network of personal contacts that can help you to move into those jobs.
posted by LobsterMitten at 5:03 PM on January 6, 2011 [2 favorites]
2. Talk to your profs or the grad students who you have more close contact with in courses that you are interested in - ask them your question about what a master's is good for. Get several opinions, and if the degrees are only required for a career in academia, resolve to take 5 years off school before pursuing them (unless you are actually on fire to be in academia).
3. Do not assume that you need to go to grad school. Don't go to grad school just as a default option because staying in school seems familiar and safe. Wait until you have some clear plan that requires grad school - you will get more out of it and waste a lot less time this way.
4. Don't write off i-banking or consulting because they seem too mainstream - if you spend a couple of years doing either you can:
- save up some money (or pay down your loans),
- build up real-world work skills (very different from being in college, and you'll have to spend a couple years learning these skills at some point, so your first years out of college is a great time),
- build up your resume (you'll be able to say you were employed for x years, you have employer references, you had xyz quantifiable workplace achievements, etc)
- get a better sense of what real-world jobs you like/want to do, and most importantly
- get a network of personal contacts that can help you to move into those jobs.
posted by LobsterMitten at 5:03 PM on January 6, 2011 [2 favorites]
It strikes me that you go to Harvard. The beauty of an undergrad education like that is the wealth of student infrastructure, career resources, and connections that come along with your degree.
My ex is a Harvard alum, also a social sciencey major (not econ, though). His first job out of school was an ambitious undergrad's wet dream, and he now has a great job for a well-known company which hires a lot of Harvard grads. (Being purposefully vague because my ex's career trajectory is not my info to share.) He's still in his mid 20's and the world is his oyster, careerwise.
My point being that your academic department, adviser, professors, peers, campus career center, and any alumni connections you may have are going to be far more useful to you than folks on AskMe will ever be. Please do not squander these resources - they the point of attending Harvard. So get out there and find a place for yourself!
posted by Sara C. at 5:11 PM on January 6, 2011
My ex is a Harvard alum, also a social sciencey major (not econ, though). His first job out of school was an ambitious undergrad's wet dream, and he now has a great job for a well-known company which hires a lot of Harvard grads. (Being purposefully vague because my ex's career trajectory is not my info to share.) He's still in his mid 20's and the world is his oyster, careerwise.
My point being that your academic department, adviser, professors, peers, campus career center, and any alumni connections you may have are going to be far more useful to you than folks on AskMe will ever be. Please do not squander these resources - they the point of attending Harvard. So get out there and find a place for yourself!
posted by Sara C. at 5:11 PM on January 6, 2011
I should also add that you might consider what you want out of life. A lot of the folks above have some great career advice, but it's only that: advice that will help advance your career. Whether or not it will be personally satisfying to you is a function of the things you want and the things you want to do. By virtue of your academic pedigree, you're unlikely to ever want for food or shelter, so you've got nearly infinite leeway.
Take a couple hours and make a list of the things you want in life and estimate the salary you'd need to support them. Unless you've got a mansion or a fleet of G6s up on that list, the number will probably be relatively small, probably about an order of magnitude less than the salaries you'd pull in ibanking or consulting, so don't grab that brass ring unless you either need to or want to. Consider public service. Consider nonprofit work. Yoke those brain cells to something that will make a difference, if you feel that you can.
posted by The White Hat at 5:28 PM on January 6, 2011
Take a couple hours and make a list of the things you want in life and estimate the salary you'd need to support them. Unless you've got a mansion or a fleet of G6s up on that list, the number will probably be relatively small, probably about an order of magnitude less than the salaries you'd pull in ibanking or consulting, so don't grab that brass ring unless you either need to or want to. Consider public service. Consider nonprofit work. Yoke those brain cells to something that will make a difference, if you feel that you can.
posted by The White Hat at 5:28 PM on January 6, 2011
Doesn't Harvard have a world class career center?
HA HA HA HA bitter laughter.
Talk to your advisor and faculty.
HA HA HA HA more bitter laughter.
The upside of Harvard is that you get to be taught by some of the world's top scholars in their field. The downside of Harvard is that practically none of these people give a rat's ass about undergraduates.
posted by Sidhedevil at 5:31 PM on January 6, 2011 [5 favorites]
HA HA HA HA bitter laughter.
Talk to your advisor and faculty.
HA HA HA HA more bitter laughter.
The upside of Harvard is that you get to be taught by some of the world's top scholars in their field. The downside of Harvard is that practically none of these people give a rat's ass about undergraduates.
posted by Sidhedevil at 5:31 PM on January 6, 2011 [5 favorites]
Sidhedevil,
I'm sorry if you had a bad experience, but I didn't find it to be the case that "practically none" of the faculty cared.
posted by lukemeister at 6:48 PM on January 6, 2011
I'm sorry if you had a bad experience, but I didn't find it to be the case that "practically none" of the faculty cared.
posted by lukemeister at 6:48 PM on January 6, 2011
What year are you? Have you talked to the econ/gov tutors in your house? They should have at least an idea of what career resources are there for you. Moreover, if they've been there a year or two, they'll know recent alumni in your concentrations and what some of them ended up doing, and might be able to put you in touch with them.
posted by en forme de poire at 7:04 PM on January 6, 2011 [1 favorite]
posted by en forme de poire at 7:04 PM on January 6, 2011 [1 favorite]
Also, to throw out a few specific ideas, with that kind of background you might want to consider looking for positions as a legislative assistant (as *s mentioned above). You don't need a law degree, just a B.A., but you would still get to work in policy and should you decide to pursue another degree in law it seems like it would be good experience. On the corporate end, there's also political risk consultancy, which might be a better fit for you than straight-up, generic management consulting. Finally, here's a thread about another Masters option you may want to consider -- MPP/MPA programs often include both policy and econ coursework and tend to be 1-2 year programs.
(I'm sure you'd get better advice from an actual gov/econ person -- I'm just drawing on what people I know have done after graduation.)
posted by en forme de poire at 7:57 PM on January 6, 2011 [1 favorite]
(I'm sure you'd get better advice from an actual gov/econ person -- I'm just drawing on what people I know have done after graduation.)
posted by en forme de poire at 7:57 PM on January 6, 2011 [1 favorite]
lukemeister, I had a great experience at Harvard, but the "senior faculty can't be bothered" thing is endemic to the larger concentrations (I did English), and since the OP is doing Ec and Gov, it seems likely to apply to him, too.
I certainly knew people in smaller concentrations who got more personal attention from senior faculty. But in the larger concentrations, it still seems to be the case that the most distinguished faculty are generally focused on research and mentoring graduate students, with just not a lot of time left for undergraduates. (This based on my conversations with both undergraduates and senior faculty members themselves.)
Have you talked to the econ/gov tutors in your house?
This is a brilliant idea, en forme de poire! I feel like a dolt for not thinking of it.
posted by Sidhedevil at 9:20 AM on January 7, 2011 [2 favorites]
I certainly knew people in smaller concentrations who got more personal attention from senior faculty. But in the larger concentrations, it still seems to be the case that the most distinguished faculty are generally focused on research and mentoring graduate students, with just not a lot of time left for undergraduates. (This based on my conversations with both undergraduates and senior faculty members themselves.)
Have you talked to the econ/gov tutors in your house?
This is a brilliant idea, en forme de poire! I feel like a dolt for not thinking of it.
posted by Sidhedevil at 9:20 AM on January 7, 2011 [2 favorites]
Sidhedevil: thanks! I definitely feel like my tutors were by far the best career- and life-planning resources I had at Harvard, so hopefully they'll be able to help the OP as well.
posted by en forme de poire at 2:23 PM on January 7, 2011
posted by en forme de poire at 2:23 PM on January 7, 2011
I like the policy work recommendations, but just so you know, you generally can't just waltz onto Capitol Hill and get a job as a legislative assistant - especially not with a committee and/or with the Senate. Legislative assistants have at the very least a couple years of some sort of work experience, and depending on the specific position, you may need a lot more than that, and/or an advanced degree. Kids coming right out of college, even the very best colleges, are almost certainly going to start out as lowly staff assistants, answering phones and such. It's not super glamorous, but it is definitely a way to get your foot in the door - much like the beginning of lots of career paths, really. I don't know what you should do, specifically, but I do think it's worth working a bit after graduating, trying out a couple different fields and seeing what you do and don't enjoy doing, and developing a clearer picture of what you want to do in the future and what you might need to do to get there.
posted by naoko at 11:24 PM on January 7, 2011
posted by naoko at 11:24 PM on January 7, 2011
Coming from a similar background, all I can say is work. Get a job, any job. Preferably away from the east coast for awhile, so you don't get to thinking its the center of the universe. Know what its like to work a 9-5. You've been in school since you were 5. Its time to know what its like to not be. You will either find that you love it, and lose all interest in grad school, or you will find you don't, and will be all the more motivated and mature about grad school. Remember one of the reasons Obama owned law school was because he was older than most everyone and had real world experience. And in case it needs mentioning, coming from Harvard you have to go the extra mile to be humble and gracious.
posted by blargerz at 8:39 PM on January 8, 2011
posted by blargerz at 8:39 PM on January 8, 2011
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posted by The White Hat at 4:02 PM on January 6, 2011 [1 favorite]