Ph.D Economics Jobs, Scope, Salary in India

Kripal Thapa

Updated on - Jan 4, 2023

PhD Economics jobs for graduates are available at a variety of job-related consultancies, both public and private. These are some of the fields to which students can apply for jobs after PhD in Economics are coaching centers, economics consultancies, economics departments, home tuitions, museums, private tuitions, publishing houses, research and development agencies, and schools. Jobs for Economics PhD holders include Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, and Industrial Organization Economists. 

Career Prospects and Job Scope for PhD Economics Course 

The PhD in Economics course can prepare students for jobs after PhD in Economics in a variety of research and development agencies and schools. Research and development jobs in the field of Economics in India have a vast scope and are expected to increase rapidly. Graduates of the PhD Economics program acquire skills and qualifications that can be applied to their careers as economic scientists.

Following completion of a Doctorate of Philosophy in Economics program in India, students may choose from a variety of specializations, depending on their interests and abilities. PhD in Economics scope and salary in India vary depending on the education and experience of the students. A wide variety of career paths is available to graduates of the PhD program in Economics.Career after PhD in Economics are as follows: 

• Political Scientists
• Consultant
• Financial Consultant
• Advisor
• Accountant
• Senior Research Scientist
• Assistant Professor
• Head of the Educational Department
• Senior Economist
• Senior Market Analyst
• Director of Research and Development

Areas of Recruitment for PhD Economics Course 

There are many jobs after PhD in Economics that are available in both the public and private sectors. Graduates’ education and experience determine the scope of PhD in Economics and salary. The options available to students who are pursuing a PhD Economics degree are many. 

Advances in economics consultancies have increased the scope after completing a PhD Economics course in recent years. The student will gain a great deal of consultancy experience and knowledge, which will help him or her gain a competitive salary. The following are some areas in which PhD in Economics are recruited: 

• Coaching Centres
• Economics Consultancies
• Economics Department
• Home Tuitions
• Museums
• Private Tuitions
• Publishing Houses
• Research and Development Agencies
• Schools
• Applied Economics
• Econometrics
• Business Economics
• Accounting
• Banking and Finance
• Insurance Investment
• Marketing
• Management
• Manufacturing
• Advertising
• Communication
• Education and Research
• Retailing
• System Analysis

Salary Packages for PhD Economics Course 

According to PayScale, PhD in Economics salary in India is INR 3-10 LPA. PhD Economics jobs salary is determined by education and experience. Graduates of the PhD Economics salary in India moderate compared to students with experience.

The following are the PhD Economics starting salaries in India with job designations: 

Source: PayScale

Government Jobs for PhD Economics Graduates

PhD graduates in Economics can choose from a wide variety of government jobs. Government jobs after PhD in Economics are bankers, Economists, geographers, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultants, Financial Consultants in economic consultancies, publishing houses, or PSUs.

PhD Economics graduates typically undergo a test followed by an interview when applying for government jobs. The PhD in Economics salary in India is around INR 2-10 LPA (Source: Ambitionbox). Below is a list of government jobs after PhD in Economics salary:

Source: AmbitionBox

Private Jobs for PhD Economics Graduates 

Doctoral graduates in Economics can find employment in a variety of fields in the private sector. PhD in Economics jobs in India include Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultant, Financial Consultant, Advisor, and Accountant.

After they have completed the course, students can continue their studies or begin careers. PhD in Economics salary in India ranges from INR 2-5 LPA (Source: PayScale). PhD in Economics salary and jobs for freshers in India are as follows:

Source: PayScale

Job Opportunities Abroad for PhD Economics Graduates 

Students with a PhD in Economics can find employment abroad. The PhD Economics jobs salary is of interest to many students because they will learn numerous methods and techniques that can be applied to the Economics field abroad. Many graduates of top economic agencies are given the opportunity to work abroad. Graduating students working in the private sector will gain valuable experience and skills that will help advance their careers abroad.

PhD Economics graduates can obtain jobs abroad as Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, Industrial Organization Economists, Political Scientists, Consultant, Financial Consultant, Advisor, and Accountant.

Top Companies 

Graduates of PhD Economics programs are hired by the following top companies: 

• Flipkart
• Future Group
• Goldman Sachs
• Grasim Honda Two Wheelers
• Indian Oil
• Infosys
• JCB
• LTLT Engineering and Construction
• Localoye
• Mahindra Engineering
• Microsoft
• ONGC
• Reliance
• Reliance Industries Limited
• TATA
• Tata Power
• TCS

Best Countries 

Here are some of the best countries that hire PhD Economics graduates: 

• USA
• UK
• Netherlands
• Australia
• Switzerland
• China
• Canada
• Italy
• Germany
• Denmark
• France

Various Career Designations Abroad for PhD Economics Graduates 

Graduates of PhD Economics programs can find the following positions abroad: 

• Auditor
• Stock Broker
• Media Analyst
• Actuarial
• Lecturer or Professor
• Banker
• Economists
• Geographer
• Econometricians
• Public Relations Officer
• Industrial Organization Economists
• Political Scientists
• Consultant
• Financial Consultant
• Advisor
• Accountant

Best PhD Economics Graduates 

Graduates of PhD programs in Economics have a wide range of career options. Political scientists interested in careers in the field will find the PhD course valuable. Students enrolled in doctorate PhD courses in Economics have increased in the past several years, while students enrolled in courses related to economics have decreased. PhD graduates in Economics in India are usually employed by economic consultancies or research institutes. The following is a list of some of the best graduates of PhD Economics programs: 

• Abhijit Banerjee
• Amartya Sen
• Amit Mitra
• Amiya Kumar Bagchi
• Ardeshir Darabshaw Shroff
• Arvind Panagariya
• Avinash Dixit
• Bibek Debroy
• G. Patel
• C. Kumarappa