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Economic Researcher
Economists play a pivotal role in shaping policies and strategies that influence the economic landscape of the UK and beyond. By analyzing data and trends, they provide insights that drive decision-making in both public and private sectors, making their work vital for sustainable growth and stability.
No degree needed for many routes
AI impact: medium£££ payDirect entry route
47
AI impact
how much AI is reshaping it
Robin · your guide
Curious about being a economic researcher? Here's the honest picture - what you'd really do, what you'd earn, and every way in. No need to decide anything yet.
What you'd actually do
As an Economist, you will be at the forefront of understanding and interpreting the complexities of the economy. Your analytical skills will be crucial in assessing current economic conditions and predicting future trends. Economists are not just number crunchers; they are strategic thinkers who provide critical insights that inform government policies, corporate strategies, and societal welfare.
The role requires a blend of quantitative analysis and qualitative reasoning. You will spend a significant portion of your time analyzing data sets, constructing economic models, and interpreting statistical results. This analytical prowess will enable you to identify patterns and anomalies that inform your recommendations. Whether you are working for a government agency, a think tank, or a private corporation, your findings will directly influence important decisions that impact the economy.
- Research and Analysis: You will dive deep into various economic indicators such as GDP, unemployment rates, inflation, and trade balances, using statistical software and econometric techniques to derive meaningful insights.
- Report Writing: Crafting detailed reports that translate complex economic concepts into understandable language for non-specialists is essential. Your ability to communicate findings effectively will be key to influencing decision-makers.
- Policy Development: You will be involved in the formulation of economic policies, providing evidence-based recommendations that aim to improve economic performance and address societal challenges.
- Collaboration: Working closely with other economists, statisticians, and policy-makers, you will engage in collaborative projects that require teamwork and diverse perspectives to tackle economic challenges.
- Global Monitoring: Keeping a pulse on international economic trends is crucial. You will analyze how global events affect the UK economy, providing timely insights to stakeholders.
- Advisory Role: You will serve as an advisor to various entities, using your expertise to guide them in making informed economic decisions.
- Public Engagement: Engaging with the public and media to explain economic issues and policies will be part of your role, helping to demystify economics and its impact on everyday life.
The rewards of being an Economist are significant. You will have the opportunity to influence national and international policies, contribute to economic development, and make a tangible difference in people's lives. However, the role is not without its challenges; the complexity of economic systems and the need for precise analysis can be demanding. Success in this field requires a strong foundation in economics, proficiency in statistical analysis, and the ability to present complex information clearly and persuasively.
1Conduct in-depth research and analysis on economic data and trends.
2Prepare comprehensive reports and presentations to communicate findings to stakeholders.
3Develop economic models to forecast future economic conditions and assess the impact of policy changes.
4Collaborate with government agencies, businesses, and academic institutions to share insights and recommendations.
5Monitor global economic developments and their implications for the UK economy.
6Advise on economic policy and strategy based on rigorous data analysis.
7Engage in discussions and debates on economic issues to influence public opinion and policy.
Career progression & pay
01
Getting in
Junior Economic Researcher
£28,000 - £34,000
BSc in Economics or related field
In this entry-level role, you will assist senior researchers in data collection and analysis, gaining hands-on experience in economic research methodologies.
02
Building up
Mid-level Economic Researcher
£45,000 - £55,000
3-5 years experience + MSc in Economics or related field
As a mid-level researcher, you will lead specific projects, conduct independent research, and present findings to stakeholders, contributing significantly to policy discussions.
03
At the top
Senior Economic Researcher/Head of Research
£80,000+
10+ years, chartered status with RES or equivalent
In this peak career stage, you will oversee research teams, drive strategic initiatives, and influence economic policy at a national or international level.
Degrees that lead here via Economics
Accounting and Economics
University of Southampton
Accounting and Finance / Economics
Prifysgol Aberystwyth
Arabic and Economics
University of St Andrews
Archaeology/Business Economics
University of Glasgow
Archaeology/Economic & Social History
University of Glasgow
Biblical Studies and Economics
University of St Andrews
Apprenticeships that lead here
Who hires - top UK employers
Institute for Fiscal Studies (IFS)
A leading economic research institute providing independent analysis of economic policy.
National Institute of Economic and Social Research (NIESR)
The UK's longest established independent research institute, focusing on economic and social issues.
Bank of England
The central bank of the UK, offering roles that influence monetary policy and financial stability.
Office for National Statistics (ONS)
The UK's largest independent producer of official statistics, providing vital data for economic research.
Royal Economic Society (RES)
A professional association for economists, offering networking and career development opportunities.
AI & the future of this job
Economics sits in a genuinely interesting middle ground where AI is reshaping the workflow without replacing the profession. LLMs and automated modelling tools can now produce first-draft data analysis, summarise research literature, and run scenario forecasts in minutes rather than days. However, the interpretive judgement that turns numbers into policy recommendations, the credibility to stand behind contested advice, and the ability to navigate political and institutional complexity remain stubbornly human. Entry-level research assistant roles are softening, but senior economist positions are holding firm and in some sectors growing.
Within 5 Years
Moderate workflow disruption
Over the next five years, AI tools will absorb a significant chunk of the grunt work in economics: literature reviews, data cleaning, preliminary modelling, and report drafting. Smaller research teams will produce the same output, which means fewer junior hires in think tanks, government departments, and financial institutions. Economists who adapt early by treating AI as a high-speed research assistant rather than a threat will become noticeably more productive and more valued. The core job is not disappearing, but the path in is getting narrower and more competitive.
Within 10 Years
Structural role redefinition
By the mid-2030s, economic modelling and forecasting will be largely AI-assisted at every stage, with human economists functioning more as architects of enquiry and interpreters of outputs than hands-on analysts. Specialisations in behavioural economics, climate economics, and geopolitical risk analysis are likely to grow precisely because they require contextual and ethical judgement that AI cannot credibly provide. The number of economists employed may not fall dramatically, but the nature of the work will look quite different from today. Those who have invested in domain expertise and communication skills will be far better positioned than those who relied on technical data processing alone.
Within 20 Years
Deeply transformed, resilient core
In twenty years, it is plausible that AI systems handle the majority of standard economic analysis and short-term forecasting autonomously. What survives and thrives is the economist as a strategic thinker, institutional navigator, and public communicator who gives meaning to AI outputs in a world of high uncertainty. New roles will likely emerge around AI governance in financial systems, long-run structural policy design, and international economic diplomacy. The profession will be smaller in headcount but higher in average seniority and influence, rewarding those who pursued depth over breadth.
How to stay ahead
Get genuinely comfortable with data tools
Python, R, and SQL are no longer optional extras for economists. Being able to build, stress-test, and critique a model yourself means you can direct AI tools intelligently rather than just accepting their outputs. Employers can already tell the difference between candidates who understand the machinery and those who simply prompt it.
Develop a specialist domain early
Generalist economic analysis is the area most exposed to AI substitution. Climate transition economics, healthcare resource allocation, housing policy, or financial regulation are domains where contextual expertise and credibility take years to build and cannot be replicated by a language model. Pick a lane during your degree and go deep through dissertations, internships, and relevant reading.
Invest seriously in communication skills
The economists who will thrive are those who can explain complex, contested findings to ministers, boards, and the public in plain language under pressure. AI can draft a report but it cannot own the argument in a parliamentary hearing or a boardroom challenge. Seek out debating, public writing, and presentation opportunities throughout your studies.
Target institutions with structural staying power
Central banks, international organisations, government economic services, and serious consultancies have durable demand for economic expertise that will not evaporate with the next AI product cycle. Starting your career in one of these environments builds credibility, network, and depth of exposure that remains valuable regardless of how the technology landscape shifts.
How to get in - your routes
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