Graduates of university economics programmes generally enjoy an excellent position on the labour market. They find substantial employment quickly, are relatively likely to obtain a permanent contract, and earn above-average salaries. This makes university-level economics degrees some of the strongest-performing study programmes in terms of labour market prospects.
According to analyses based on the annual SEO Studie & Werk survey, university economists typically find substantial employment within four months of graduation. For graduates of Econometrics (two months) and Fiscale Economie (one month), this period is even considerably shorter. A substantial job is defined as one involving at least three working days per week, no temporary or zero-hour contract, and a salary above the statutory minimum wage.
Strong job security and high salaries
University economists also perform remarkably well in terms of job security. One year after graduation, 77 per cent of Fiscal Economics graduates already hold a permanent contract—almost twice as many as the average university graduate (41 per cent). For graduates of Econometrics and Economics, this percentage is also higher than the university average.
The salary level of university economists is strong. Shortly after graduation, graduates in Econometrics and Fiscal Economics earn more per hour than the median university graduate. Ten years later, the income of all university economics graduates exceeds the median university level. The difference is greatest for Econometrics, where alumni earn on average twenty per cent more than the median graduate.
Growth in graduate numbers
The number of graduates from university economics programmes has risen sharply over the past fifteen years. Growth has been particularly striking in Econometrics: since the 2006/07 academic year, the number of graduates has more than quadrupled. Economics (+34 per cent) and Fiscal Economics (+18 per cent) have also shown a steady upward trend. As a result, universities are now producing an ever-growing group of economists who successfully enter the labour market.
International inflow and outflow
The lower employment rate among Economics graduates (65 per cent) in the Netherlands is partly due to the relatively large number of international students enrolled in this programme. A significant share of these graduates either return to their home countries or pursue an international career after graduation. This depresses domestic employment figures but says little about their actual job opportunities.
- More information
Click here for the relevant ESB article (in Dutch). For more information, please contact Ronald de Groot, Media & Public Relations Officer at Erasmus School of Economics: rdegroot@ese.eur.nl, +31 6 53 641 846.
