MA Econ Careers

**prusd** · 04-27-2006, 05:04 PM

Hello,

If I am interested in finding a good job in NYC, should I accept an offer to study an MA in economics?

Thanks

**reactor** · 04-27-2006, 05:14 PM

Why not? I don't see how it can harm your chances for a good job. (of course you will have less money after you pay tuition+living expenses but this is given)

**PCG** · 04-27-2006, 05:23 PM

I don't think having an MA in econ is necessary to get a good job in NYC. Have you tried just job hunting?

**prusd** · 04-27-2006, 06:46 PM

Yes PCG, for four years. But I can't do anything with a BA.

Reactor, I thought you were against MA in economics?

**InstrumentalVariable** · 04-27-2006, 07:33 PM

If you haven't yet, you might try econ consulting. They take earthlings with BAs and MAs in econ and related fields. My firm's office in NYC is always hungry for new researchers. Try firms like Cornerstone, CRA, E&Y, NERA, or smaller boutique firms. As an added advantage, many of them will fund continuing education if you can work full time while taking classes.
If you can't find a job now, an MA is an excellent way to erase a bad BA track record, and it opens up limited paths to upward mobility in econ research and consulting.

**Econ2006** · 04-27-2006, 07:45 PM

I guess it depends on the type of work you want to do, but there are usually quite a few research assistant jobs for individuals with a BA. You should talk to the career placement office at the MA program you're planning to attend, and see what their typical placements are like, and whether they match what you're looking for. After you get the MA, you may find yourself "overqualified" for certain entry-level research jobs, but underqualified for those requiring a Ph.D.

**t_do** · 04-27-2006, 07:50 PM

It's true that there are research associate (or assistant, whatever) jobs for BAs at econ consulting firms, but I know that at my own (smallish econ consulting) firm an MA is a requirement for advancement.

That said, I am skeptical of the value of an MA in econ. Have you considered a MA in public policy, transportation or some other field (depending on what it is you'd like to do)?

**PCG** · 04-27-2006, 08:20 PM

Originally Posted by prusd

Yes PCG, for four years. But I can't do anything with a BA.

I don't mean to sound harsh here, but there is literally an infinate number of jobs for someone with a BA, with a very large subset of those that could be described as "good." It seems decidedly implausible to me that you couldn't do "anything" in NY with just a BA. (I also don't think you have to settle for an RA job, either, with a BA).

What I'm was trying to point out was that you must supply more information -- what is it that you want to do? For certain types of jobs, it might be recommended to do NYU's MA program, but for very many more other types, it wouldn't.

**reactor** · 04-27-2006, 08:52 PM

Originally Posted by prusd

Yes PCG, for four years. But I can't do anything with a BA.

Reactor, I thought you were against MA in economics?

I don't think it can harm your chances to find a good job. This does not imply that it will necessarily increase your chances. Can you find online information about job placement?
Princeton for example has a masters in finance and they offer extensive job placement information. Perhaps you can email someone at NYU.

P.S. I'm against choosing a MA in Econ without serious consideration. I could choose among lots of MA/MSc programs (since none of them gave me financial aid) and I did not make the right choice (for my goal: getting into "a good PhD program"). So I advise more thought before choosing (if of course you have options).

**elhuevon** · 04-28-2006, 02:55 AM

Originally Posted by reactor

I don't think it can harm your chances to find a good job. This does not imply that it will necessarily increase your chances. Can you find online information about job placement?
Princeton for example has a masters in finance and they offer extensive job placement information. Perhaps you can email someone at NYU.

P.S. I'm against choosing a MA in Econ without serious consideration. I could choose among lots of MA/MSc programs (since none of them gave me financial aid) and I did not make the right choice (for my goal: getting into "a good PhD program"). So I advise more thought before choosing (if of course you have options).

Isn't Princeton's Finance program their equivalent of a financial engineering course?

...quick google search...

Yes. More or less a Financial Engineering program with a bit more practical focus. Their starting salaries averaged $100,000 guaranteed (not including year-end bonus which in many of these jobs is $25K). Not a surprise they would list those results (5 PhD admissions also to: Princeton, LBS, Northwestern, Oxford, and Wharton).

You can also read into it that by not posting their results, NYU MA econ grads do not fare nearly as well. I bet it will be hard to get more than anecdotal data from their admissions people as well.