Should I do a masters in economics or finance?

Choose Finance for practical, company-focused money management (investments, budgeting, valuation) and careers like investment banking or portfolio management; choose Economics for big-picture theory, policy, and research (econometrics, global trends, public policy) with paths in consulting, government, or data analysis, depending on your interest in how money works (Finance) versus how economies work (Economics).

Is it better to do economics or finance?

In terms of employability, both majors generally have good job prospects. Finance tends to have more specialized career paths and often leads to higher starting salaries compared to economics. However, economics majors often find success in a variety of fields, allowing for more flexibility in career choice.

Is a master's in economics and finance worth it?

The rigour of the Finance and Economics programme is recognised across the world. Many graduates go on to have successful careers in roles ranging from quantitative trading in hedge funds to economic policy in national and international central banks.

Who gets paid more, economics or finance?

Financial analysts, who typically need a bachelor's degree, earn a median salary of $99,010, while economists, often requiring a master's degree, earn $115,730 annually.

What is the difference between a Masters of finance and a Masters of economics?

In other words, finance focuses on managing and growing wealth, often involving activities like investment, risk management and corporate finance. On the other hand, economics is more of a social science concerned with the production, consumption and distribution of goods and services.

Should You Get an Applied Economics Masters?

Is it worth it to get your master's in finance?

A Master's in Finance (MSF) can be very worth it for career advancement, specialization, and higher earning potential in competitive roles like investment banking, but its value depends heavily on your goals, the program's quality, and your alternative options; it provides strong technical skills, networking, and career pivoting, yet it's a significant cost and time investment, and real-world experience (internships) often outweighs it, especially if you can get a good job without the degree. 

Is economics the hardest major?

Economics is frequently listed among the most challenging college majors in the United States, often ranking within the top five to ten hardest fields based on national studies.

Can you become a CEO with an economics degree?

We find evidence that economics is a good choice of major for those aspiring to become a CEO. Economics ranked third with 9% of the CEOs of the S&P 500 companies in 2004 being undergraduate economics majors, behind business administration and engineering majors, each of which accounted for 20% of the CEOs.

Is a masters in econ better than an MBA?

“An MBA prepares you to be more of a generalist with many different business skills, including managing people and making financial decisions,” Oswalt said. “An Economics degree prepares you to analyze numbers, but also look at how those numbers apply to people's lives.

How much does a masters in finance make in the US?

How much does a Masters Finance make? As of Jan 16, 2026, the average annual pay for a Masters Finance in the United States is $92,631 a year. Just in case you need a simple salary calculator, that works out to be approximately $44.53 an hour. This is the equivalent of $1,781/week or $7,719/month.

Can I make 6 figures with a finance degree?

Yes, finance majors can absolutely make six figures, with many roles offering six-figure salaries early on, especially in high-demand areas like investment banking, financial management, and specialized tech roles, while mid-career and senior positions often reach well into the six figures and beyond, depending heavily on the specific job, experience, and location. 

Is CPA higher than masters?

CPAs command higher salaries than Master's in Accounting professionals. Furthermore, CPAs with specialized skills and knowledge in areas like taxation, auditing, or forensic accounting can expect to earn a higher salary than those without such expertise.

Can you become a CFO with an economics degree?

CFO Education Requirements

CFOs typically hold a Bachelor's degree in finance, accounting, economics, or a related field. Many also pursue advanced degrees such as a Master's in Business Administration (MBA) to enhance their skills and credentials.

What is the highest paying job with an economics degree?

The highest paying jobs for economics majors are often in finance, consulting, and tech, with roles like Investment Banker, Financial Manager, Securities Trader, and Data Scientist leading the list due to high demand for analytical, quantitative, and strategic skills, with salaries often exceeding $100k, especially with experience or advanced degrees like an MBA or specialized certifications. 

Can an econ major go into finance?

Banking careers are very popular with economics graduates, offering scope for high earnings and have a high demand for economists. Graduates with a background in economics are particularly valued for roles in financial control, financial planning, risk analysis, data analysis and consultancy.

Is a MA in economics worth it?

Yes, a Master's in Economics is generally worth it for increased earning potential, better job prospects, and specialized skills, particularly for roles in consulting, finance, data analysis, and government, though its value depends on individual career goals, as it's often a stepping stone to a PhD or a requirement for certain advanced positions. It provides deep quantitative and analytical skills highly sought after by employers, opening doors to high-paying jobs, but consider the time and cost versus potential job experience. 

What pays more, MS or MBA?

Generally, an MBA leads to higher average salaries due to its focus on broad leadership and management, with median starting salaries often $20k-$40k more than general Master's (MS) degrees, but high-demand technical MS degrees (like in Computer Science or Data Science) can offer comparable or even higher initial pay, especially in tech roles, with the MBA's advantage growing significantly at senior executive levels. 

Is econ a harder major than finance?

As a finance degree heavily depends on financial analysis and modeling, students may find the material more difficult if they struggle with mathematical concepts. However, students seeking an economics degree might have difficulty understanding abstract ideas like economic theory and policy analysis.

What degree do most Fortune 500 CEOs have?

The most common degrees among CEOs are Bachelor of Arts (BA) and Bachelor of Business Administration (BBA), with 53% holding one of these degrees, while 47% have Bachelor of Science (BS) degrees.

Can an economist become a millionaire?

Why Millionaires Choose Finance and Economics Degrees: Understanding how money works is a key factor in becoming a millionaire, and that's exactly what a degree in finance or economics teaches. Many of the world's top investors, hedge fund managers, and financial consultants hold degrees in these fields.

Who gets paid more, CFO or CEO?

CEOs almost always earn significantly more than CFOs, with CEO total compensation often being 2 to 3 times higher, reflecting broader company-wide responsibility for vision and growth, while CFO compensation focuses on financial health; for large public companies, CEO pay (base + incentives) can reach tens of millions, whereas CFOs often earn $3M-$5M+, though averages vary greatly by company size, industry, and location.
 

Does Elon Musk have a degree in economics?

According to Forbes' Real Time Billionaires list, Musk has a net worth of $367 billion. Musk's educational background includes studying at Queen's University in Kingston, Ontario and later transferring to the University of Pennsylvania, where he graduated with a degree in physics and economics in 1995.

What is the no. 1 toughest degree in the world?

Medical is usually regarded as the hardest major because of the vast scope of its curriculum, lengthy time frame, and significant stakes in life-or-death decisions. It requires a rigorous education in the classroom, as well as practical training as well as emotional resilience.

Which major has the most dropouts?

Dropout rates by major:

STEM fields have higher attrition than non-STEM majors overall. Computer science has a 10.7% early dropout rate (among the highest) Business and engineering also show high early losses. Only 40% of those who declare STEM majors complete the degree.