If you’ve decided on a career in economics – whether you’re preparing for university, already studying, or considering a career change – you’ve probably asked yourself how to gain relevant work experience in this high-demand and competitive field.
Employers and top economics universities are looking for well-rounded applicants with both knowledge and practical skills. Gaining the right work experience early on doesn’t just strengthen your UCAS application and resume; it also helps you explore suitable career options before committing to an academic degree. But when exactly is the best time to start looking? What types of opportunities are available, and what mistakes should you avoid?
In this comprehensive guide, we’ll answer all these questions and help you secure valuable economics work experience that sets you up for future success.
When Is the Best Time to Look for Economics Work Experience?
The best time to start looking for economics work experience was yesterday. Fortunately, the next best time is now. Even at school, gaining experience offers several benefits, including:
- Exploring whether it’s the right career path for you before committing to a full-time degree
- Talking about it during university applications – in your personal statement and interviews
- Standing out from peers with no early experience
- Making valuable industry contacts that can prove helpful throughout your career
- Start saving money for your education
Additionally, the graduate job market has become increasingly competitive, and employers are now looking beyond degrees for candidates with hands-on, practical experience already under their belt. One key reason is the growing demand for professionals who can contribute from day one in their new roles – especially in light of ongoing global economic challenges.
So, the truth is, it’s never too early to begin exploring opportunities in economics. Whether you’re still at school or preparing for university, there are plenty of ways to gain experience that will strengthen your applications and future employability. The good news is that it doesn’t have to be too disruptive – even a short two-week placement in Years 10–12 can carry significant weight.
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Economics Work Experience Year 10
At this stage, opportunities won’t necessarily be labelled “economics” work experience, but you can still start building valuable practical skills.
Consider volunteering roles at local communities where you handle data, budgets, or planning. For example, many local councils and charities in the UK – such as Citizens Advice or local food banks – welcome volunteers to help with budget tracking, fundraising records, or community survey data. Even something as simple as supporting a local council’s youth project or charity shop with financial planning or data entry gives you exposure to economics-related tasks while making a real impact in your community.
If you have a financial adviser, data analyst, banker, or economist in your network – even family or friends – consider asking if you can shadow them. This is often one of the most effective ways to learn at a younger age, as it tends to be flexible and less pressured than formal placements.
These early experiences help you build analytical, teamwork, and communication skills – all essential for a successful career in economics later on. At this stage, it’s also a good idea to reflect on what you’ve learned rather than just doing the job. Keeping a short reflection journal can help you identify areas of interest and prepare you to discuss your experiences with universities, something admissions teams at top economics universities value highly. Ask yourself questions such as: What excited me most in this role, and why? What did I find challenging? What could I have done better? How could I improve over time?
Economics Work Experience Year 12
If you’re in sixth form and starting to think about university applications, now is probably a good time to aim for more subject-specific experience. This might include internships or insight programmes with banks, research institutions, or government bodies.
Many organisations run structured placements for students interested in economics, policy, or finance. You can also look into virtual work experience programmes, online simulations, or summer schools, which are increasingly recognised by universities as valuable preparation.
For example, Barclays offers remote work experience opportunities for students aged 13+ in roles such as Data Analyst or Finance Operations. Study Mind and InvestIn run immersive programmes lasting 5–15 days, where you can practise economic modelling, data analysis, role-play scenarios, and even take part in economic debates. Similarly, Immerse Education and Dukes Plus offer summer schools focused on research projects and developing analytical and problem-solving skills.
Whatever you choose, keep a short reflection journal of what you learned and how it links to economics. Universities are not just interested in what you did, but what you took away from the experience.
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Economics Work Experience During University
If you’re currently working your way through an economics degree, university is the perfect time to build practical experience alongside theory. One of the most valuable options is an internship, which allows you to apply what you’ve learned in real-world settings.
Aside from internships, you can also gain experience through student societies, competitions, and part-time jobs. Be sure to take full advantage of university resources, such as career departments, industry-based projects, and networking events, which can connect you with potential placements and employers.
Consider the following opportunities:
- Internships and Placements – Many banks, consulting firms, government bodies, and research institutes offer summer internships or industrial placements, which often act as a direct route into graduate roles. For example, NatWest provides dedicated internship programmes for university students, giving participants the chance to build industry connections, tackle real-world challenges, and gain paid experience in areas such as Data & Analytics or Finance.
- Research Assistant Roles – Ask your lecturers or university careers office about opportunities to support academic research projects. This provides hands-on exposure to data analysis, literature reviews, and applied economics.
- Part-Time Roles with Economic Relevance – Jobs in finance, data entry, market research, or business analysis can all help you develop transferable skills.
- Student Societies and Competitions – Joining an Economics or Finance Society, or participating in case competitions, can demonstrate initiative and help you network with professionals.
- Virtual Experience Programmes – Platforms like Forage and Bright Network offer short, flexible online experiences recognised by employers.
- Networking Opportunities – Building connections is just as important as gaining work experience. The Royal Economic Society (RES) hosts initiatives such as the UK Women in Economics Network (UK WEN) and annual networking events. Additionally, groups like The Black Economists Network (TBEN) provide tailored opportunities, including summer socials and industry-focused events, helping students and graduates expand their professional network.
At this stage, quality often matters more than quantity. A well-chosen placement where you gain concrete skills – such as using statistical software, working with datasets, or writing reports – can make a powerful addition to your resume and help you stand out when applying for graduate roles.
Gaining Work Experience as an Economics Graduate
One of the most common ways to bridge the gap between graduation and employment is through graduate schemes – structured programmes offered by many leading UK employers to train recent graduates as future leaders. These schemes often combine hands-on work experience with training, mentoring, and rotations across different departments, giving you a well-rounded understanding of the organisation and the industry.
Graduate schemes are available in a wide range of sectors, including finance, consulting, government, and large corporations, with top UK employers including the Government Economics Service (GES), Bank of England, and PwC. Bear in mind that they can be highly competitive, so having relevant internships, part-time work, or project experience from university can give you a significant advantage.
In addition to formal schemes, graduates can also explore:
- Entry-level roles with training – Some companies hire graduates directly into analytical or research roles, providing on-the-job training.
- Short-term contracts or temporary placements – These can help you build skills and connections while exploring different career paths.
- Professional networking and industry events – Attending conferences, webinars, and networking sessions can lead to opportunities that aren’t advertised publicly.
By combining these opportunities with the skills and experience gained during university, economics graduates can confidently transition into their chosen careers.
Skills Needed for Economics Jobs
A career in economics requires more than just an interest in numbers – it’s about applying knowledge to real-world challenges. Although economics degree entry requirements in the UK can vary, a strong background in Mathematics and English is generally essential.
Some key skills that can set you apart as a future economist include:
Analytical and Numerical Skills
Economists rely on data to make sense of complex problems. Building confidence with numbers, statistics, and logical reasoning is essential.
Communication Skills
Being able to explain complex ideas in simple terms is vital, whether to teachers, admissions tutors, colleagues, or policymakers. School students might practise this through presentations or essays, while career changers could highlight experience from client communication, reports, or team collaboration.
Attention to Detail
Accuracy matters when dealing with data or writing reports. Whether it’s checking calculations in schoolwork, reviewing research at university, or preparing documents at work, showing precision and reliability builds trust with teachers, employers, and colleagues alike.
Problem-Solving and Critical Thinking
Economics is about understanding challenges – like inflation, trade, or inequality – and proposing effective solutions. You can practise these skills by taking part in debates, working on school projects, completing case studies at university, or solving practical problems in the workplace.
Commercial and Global Awareness
Economists need to understand how businesses, governments, and markets interact. Staying informed about current events – through news, podcasts, or reports –shows initiative and awareness at any stage. Even volunteering in community projects or small businesses can build this awareness.
Teamwork and Collaboration
Economics rarely happens in isolation. School projects, group coursework, student societies, workplace teams, and volunteering all provide opportunities to develop collaboration and leadership skills.
Many transferable skills like problem-solving from retail, communication from customer service, or numeracy from admin tasks can be just as valuable and will help strengthen your applications.
Common Mistakes to Avoid
When you’re ready to start pursuing job opportunities, it’s important to be aware of some common pitfalls that can limit the value of your experience. Avoiding these mistakes will help you make the most of your opportunities and present yourself effectively to top universities or employers.
1. More is Better
It’s easy to think that stacking up as many placements as possible will make you more competitive, but quality matters more than quantity in competitive and diverse fields like economics. What you achieve and learn during a placement is far more important than how many you complete.
For example, if you’re particularly interested in a specific area of economics – such as actuarial science – focus on gaining deeper experience in that field rather than doing multiple short placements that don’t allow you to build meaningful skills. Take the time to understand the work, reflect on your contributions, and develop concrete examples of what you’ve achieved.
2. Ignoring Reflection
Simply completing work experience isn’t enough – you need to reflect on what you’ve learned. Reflection helps you identify your strengths, areas for growth, and potential career paths.
Keep a short journal or notes during your placement and ask yourself questions like: What did I enjoy most? What challenged me? What skills did I develop? This makes it easier to discuss your experiences in applications and interviews.
3. Not Utilising Connections
Many opportunities never appear on public job boards, so failing to leverage your personal and professional connections can mean missing out. Reach out to family, friends, teachers, university careers departments, or mentors who work in the economics sectors. They may offer shadowing opportunities, internships, or advice that you wouldn’t find otherwise.
4. Not Tailoring Applications
Sending the same CV or application to every opportunity is a common mistake. Employers and programme organisers want to see that you’ve thought about their specific role or organisation. Tailor your applications by highlighting relevant skills, experiences, and motivations for each placement. Even small adjustments – like referencing the company’s sector, values, or recent projects – can make a big difference.
Conclusion
Gaining relevant work experience is an essential step for anyone considering a career in economics. Whether you’re still at school, studying at university, or planning a career change, practical experience helps you develop key skills, explore different areas of the field, and stand out to universities and employers alike. By planning carefully, reflecting on your experiences, and leveraging internships, placements, and networking opportunities, you can build a foundation that sets you up for long-term success in this competitive industry.
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FAQs
1. Do you need economics work experience to study economics at university?
Not strictly, but having relevant work experience can strengthen your UCAS application and help you stand out from other candidates by showing tangible commitment to your chosen subject. Admissions tutors value applicants who demonstrate practical understanding, transferable skills, and a genuine interest in economics. Even short placements, volunteering, or virtual programmes can very beneficial.
2. Can volunteering count as economics work experience?
Yes. Volunteering that involves data analysis, budgeting, research, or planning can develop the same skills as formal placements. For example, helping a charity manage funds, conducting surveys, or supporting community projects all provide practical experience that is valuable to universities and future employers.
3. How do I find economics work experience without contacts?
There are plenty of ways to get started even if you don’t have personal connections:
- University careers services – often list internships and placements.
- Virtual experience platforms – such as Forage, Bright Network, and other online programmes.
- Job boards and internship sites – many banks, consultancies, and government bodies advertise student placements.
- Cold outreach – contacting organisations you’re interested in and asking about shadowing or internship opportunities can also be effective.
4. Is economics work experience paid or unpaid?
It depends on the type of experience. Many internships and graduate schemes are paid, but some school or university placements – especially voluntary or short-term programmes – may be unpaid. Even unpaid experiences can be valuable for building skills, networks, and understanding the field.
