Economics is one of the most versatile and impactful career paths in the UK, and while a traditional economics degree from a top university remains the most common route, there are other pathways to consider. Apprenticeships, in particular, are becoming increasingly popular, allowing you to combine professional work with dedicated learning time.
If you’re still considering your options, you may want to first explore whether a career in economics is the right path for you before deciding on the route that best suits your goals. For those keen to start building skills and gaining exposure to the field, our Economics Work Experience – Full Guide offers further insights into early opportunities that can strengthen your applications.
In this article, we’ll walk through everything you need to know about economics apprenticeships – from the different types available to how to apply and what opportunities they can lead to. Whether you’re aiming for a role in government, finance, or consulting, this guide will help you understand if an apprenticeship could be the right first step.
What is an apprenticeship in Economics?
An apprenticeship in economics is a structured programme that allows you to earn a salary while gaining hands-on experience. Unlike traditional university routes, apprenticeships combine on-the-job training with dedicated weekly learning time, focusing on the practical skills employers value from day one. Importantly, apprenticeships aren’t just an alternative to a degree route – they can also be a valuable next step after graduation.
While academic qualifications like a university degree focus primarily on theory, models, and research methods, an economics apprenticeship emphasises real-world application. You’ll work on industry projects, analyse data, and contribute to decision-making processes within organisations.
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Why Choose an Economics Apprenticeship?
An economics apprenticeship offers a pathway that balances learning and earning, giving you a competitive edge in the job market. Some of the key benefits include:
- Earn while you learn: Apprenticeships pay a salary, helping you reduce or even avoid student debt.
- Gain hands-on experience: Work on real economic projects and build professional skills early on.
- Access to networks and mentors: Collaborate with experienced economists and industry professionals.
- Flexible progression: Many apprenticeships allow you to continue your studies alongside work or move into higher-level apprenticeships and roles.
Types of Economics Apprenticeships in the UK
Economics apprenticeships in the UK are offered at different levels, allowing you to choose a pathway that matches your current qualifications and career goals. These typically include:
Oxford Economics Reading List
- Intermediate Apprenticeships (Level 2): Equivalent to GCSEs. These are rare in economics and more common in general business or administration roles.
- Advanced Apprenticeships (Level 3): Equivalent to A-levels. These may include roles in business administration or finance with some economic elements.
- Higher Apprenticeships (Levels 4–7): Equivalent to foundation degree level or above. These focus on applied economics, data analysis, and financial management.
- Degree Apprenticeships (Level 6–7): Equivalent to a full bachelor’s or master’s degree, combining academic study with professional work in economics.
Below is a visual comparison provided by UCAS:
The most prestigious opportunities fall under higher and degree-level apprenticeships, which are specifically designed for aspiring economists. If you wish to progress further after completing a degree-level economics apprenticeship, it’s also possible to pursue a Master’s in Economics – subject to individual university requirements.
Government Economic Service Degree Apprenticeship (GESDAP)
The Government Economic Service Degree Apprenticeship (GESDAP) is the UK’s flagship economics apprenticeship. It offers participants the chance to work in government departments – such as the HMRC, HM Treasury, the Department for Work and Pensions, Department for Environment, Department for Education, and many others – while studying towards a fee-free economics degree.
Through this programme, you will have the opportunity to work on government projects and contribute to big decisions on various real-world issues, including:
- Growth support for small businesses
- Advancement of UK businesses’ global competitiveness
- Support people’s lives after prison
- Environmental protection
Key benefits include:
- A fully funded economics degree (no tuition fees)
- Competitive contributory pension scheme while you learn and work
- Professional experience contributing to real government policy
- Mentorship and training from experienced government economists
GESDAP is particularly attractive because it provides both an academic qualification and practical policy experience, making graduates highly employable across the public and private sectors.
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Private Economics Apprenticeships
Outside government, some private sector employers offer economics or economics-related apprenticeships. These are often found in:
- Financial services (banks, investment firms, insurance companies).
- Consulting firms specialising in economic research and analysis.
- Large corporations that require in-house economic or data expertise.
These apprenticeships are usually advertised on company websites, the GOV.UK apprenticeships portal, or job boards like Indeed and Prospects. While they may not always be labelled strictly as “economics” apprenticeships, roles in data analysis, finance, and business strategy often include a strong economic focus.
How Do I Apply for an Economics Apprenticeship in the UK?
Applying for an economics apprenticeship is very similar to applying for a competitive job. You’ll need to meet the entry requirements, prepare a strong application, and perform well in interviews or assessment tests. Below, we’ll break down what most employers expect and how you can stand out.
Entry Requirements
The exact requirements depend on the level of apprenticeship, but generally you’ll need to have the right to work in the UK and:
Intermediate/Advanced (Level 2–3)
Usually requires GCSEs (grades 9–4 / A*–C) in Maths and English. These levels are rare in economics but may appear in related business or admin apprenticeships.
Higher (Level 4–7)
Typically requires A-levels (or equivalent), with at least one in maths or economics preferred. Employers often look for strong analytical and numerical skills.
Degree Apprenticeships (Level 6–7)
- Usually requires three good A-levels, often including maths at grade B or above, or English at C or above, or economics, and a solid academic profile. Some schemes, like the Government Economic Service Degree Apprenticeship, also require applicants to meet specific UK residency (e.g. residency in the UK for at least the previous three years before the start of your apprenticeship) or citizenship criteria.
Alongside academic qualifications, employers value:
Strong numeracy and problem-solving ability.
IT literacy and confidence working with data.
Good written and verbal communication skills.
Motivation to learn and genuine interest in economics.
Application Tips
As mentioned earlier, applying for an apprenticeship should be approached with the same mindset as applying for a competitive job. Here are some of our top tips:
- Tailor your CV and cover letter: Highlight skills relevant to economics – numeracy, analysis, teamwork – and link them to school subjects, work experience, or extracurriculars.
- Show evidence of interest in economics: Mention projects, competitions (e.g. the Royal Economic Society essay competition), or relevant work experience.
- Prepare for online tests: Many schemes use numerical reasoning, situational judgement, or aptitude tests as part of the selection process.
- Practice interview and assessment tasks: Be ready for competency-based questions (e.g., problem solving, teamwork) and case study exercises that test your economic thinking.
- Apply early: Popular schemes like GESDAP have strict deadlines and high competition, so check requirements and prepare well in advance.
What Can You Do After An Economics Apprenticeship?
Completing an economics apprenticeship opens up a wide range of career and study opportunities. Because apprenticeships combine hands-on experience with recognised qualifications, you’ll graduate with both the academic foundation and the practical skills employers look for.
Many apprentices go on to pursue roles such as:
- Government economist – shaping public policy and analysing the economic impact of decisions.
- Data or financial analyst – working with organisations to interpret data and guide business strategy.
- Consultant – advising companies or public bodies on economic trends and challenges.
- Researcher – contributing to think tanks, academic projects, or market analysis.
If you complete a degree-level apprenticeship, you may also have the option to progress into further study, such as a Master’s in Economics, depending on university requirements. Others choose to move directly into full-time employment, often with the employer who sponsored their apprenticeship.
The skills you develop – numerical reasoning, data analysis, critical thinking, and problem solving – are highly transferable. This means an economics apprenticeship can be a stepping stone not only into traditional economics roles but also into fields like finance, business strategy, and public policy.
Useful Resources for Economics Apprenticeships in the UK
Finding the right apprenticeship can feel overwhelming, but there are several trusted platforms and organisations that list current opportunities and provide guidance:
- GOV.UK Find an Apprenticeship: The official government portal for apprenticeship vacancies across all industries, including economics, finance, and business.
- UCAS Apprenticeships: UCAS offers detailed guidance on apprenticeship levels, application processes, and a vacancy search tool.
- Institute for Apprenticeships & Technical Education (IfATE): Provides information about apprenticeship standards, including higher and degree-level options relevant to economics.
- Government Economic Service (GES): The official home of the Government Economic Service Degree Apprenticeship (GESDAP), with application details and updates.
- Prospects: A careers platform offering apprenticeship advice and listings, particularly for students considering alternatives to university.
- RateMyApprenticeship: Features reviews from current apprentices and job boards with roles in economics-related fields such as finance, business, and consulting.
- Frontier Economics offers an Apprentice Analyst programme for those interested in economic consultancy. You can also find schemes from other regulators, like Ofwat.
Exploring these resources will help you stay updated on deadlines, requirements, and the types of employers currently offering opportunities.
Conclusion
Economics apprenticeships offer a flexible and rewarding pathway into one of the UK’s most dynamic career fields. They allow you to gain hands-on experience, earn a salary, and develop skills that are highly valued across government, finance, consultancy, and business. From intermediate to degree-level opportunities, apprenticeships can provide an alternative to the traditional university route while still opening doors to further study or advanced career roles.
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FAQs
1. Can I do an economics apprenticeship without A-levels?
Yes, but options are limited. Intermediate (Level 2) and some Advanced (Level 3) apprenticeships may accept candidates without A-levels, typically requiring GCSEs in maths and English. Degree-level apprenticeships, however, almost always require strong A-level results, particularly in maths or economics.
2. How long does a degree apprenticeship take?
Degree-level economics apprenticeships typically take three to four years to complete, depending on the programme and employer. This combines full-time work with academic study, often leading to a bachelor’s or integrated master’s degree.
3. Do I get a qualification at the end?
Yes. All economics apprenticeships provide recognised qualifications appropriate to their level:
- Intermediate/Advanced: Certificates or diplomas equivalent to GCSEs/A-levels.
- Higher: Foundation degree or higher national qualification.
- Degree-level: Bachelor’s or integrated Master’s degree in economics, fully funded as part of the apprenticeship.
4. What is the salary for an economics apprenticeship?
Salaries for economics apprenticeships vary depending on the level, employer, and location. As a rough guide:
- Intermediate/Advanced apprenticeships (Level 2–3): Typically £12,000–£16,000 per year.
- Higher apprenticeships (Level 4–7): Around £16,000–£20,000 per year.
- Degree-level apprenticeships (Level 6–7): Usually start from £18,000–£26,000 per year, with some government schemes offering additional benefits like contributory pensions.
For a more detailed look at earning potential across different economics roles, see our full guide on Economics Salaries in the UK.
