If you are deciding between majoring in economics or biology, you might want to know more about what each major has to offer. This post will show you the key facts about each major and help you to decide which would be a better degree for you.
At glance:
| | Biology | Economics |
| Payscale reported average pay | $71,112 | $71,173 |
| Job prospects | Average | Average |
| Types of jobs you can qualify for | Lab assistant Physician assistant Biomedical engineer Nurse Physical therapist Veterinarian Optometrist High school teacher | Data analyst Business analyst Operations manager Financial analyst Actuarial analyst |
| Difficulty of the major | Hard | Moderate |
| Key things to note | It can be difficult to find a job with just a bachelor’s degree in biology. A master’s degree or PhD is often required. Other easier majors can be better for medical school. The major can become more employable if combined with a more applied minor. It is a major that can give good job satisfaction once you can find a job. | Can be difficult to get a job with just an economics bachelor’s degree. Many of the more lucrative economics jobs require at least a master’s degree. Becomes a lot more employable if you combine it with programming and data analysis skills. |
Source for economics salary and jobs
There are a number of things to consider when choosing between the two degrees. Below, are details about each major, their differences, and reasons to choose one or the other.
Details about a biology degree
Below are some of the key details about a degree in biology.
Pay
According to Payscale, the average pay for a person with a degree in biology is $71,112. This is better than the average across all majors. However, something to consider, is that the average will be being increased considerably by people with master’s degrees and PhDs in biology.
Jobs
Biology can be a somewhat general degree that is not specialized towards specific job roles. As a result, it is often necessary to combine biology with a more applied minor or to get an advanced degree after graduating, in order to make the major more employable.
In a ZipRecruiter survey, it was found that 35% of biology graduates regret choosing the major due to difficulty finding a job without an advanced degree.
With that being said, the major can be a gateway towards jobs in a number of different fields, but it will often require some extra studying to become employable in those fields.
According to Payscale, people with a degree in biology often get jobs as:
- Lab assistant
- Physician assistant
- Biomedical engineer
- Nurse
- Physical therapist
- Veterinarian
- Optometrist
- High school teacher
Note that many of these jobs will require at least a master’s degree.
Something to be aware of is that many of the jobs that require advanced degrees do have strong predicted job growth (source). This is encouraging if you are set on getting an advanced degree in biology. However, something to be aware of is that if you change your mind halfway through, it could be difficult to find a job with just a bachelor’s degree in biology.
Difficulty
Biology is a difficult major. The biology classes themselves can be difficult and the major will usually require math, statistics, physics, and chemistry classes. Overall, you should expect to have to put a lot of time into the major. when compared with an economics degree you can expect biology to be slightly harder.
Classes
Classes you can expect to take in a biology major can include:
- Calculus
- Statistics
- Chemistry
- Introduction to physics
- Introduction to biology
- Molecular biology
- Ecology
- Genetics
You can look here to see an example degree sequence.
Things to consider
Alternative majors can allow you to enter medical school but also have good job opportunities. In fact, because it can be difficult to get a high GPA in biology, alternative majors can actually be better for medical school because having a high GPA can help a lot.
To get the more desirable jobs, in biology, it is often necessary to get a PhD. If you do choose the major, it would help a lot to consider combining it with a more employable minor in order to improve your job prospects after graduation.
When deciding on whether or not you should major in biology, it would help to consider whether or not you are set on going to graduate school as well and the types of jobs you want. If you are set on going to graduate school and you want a job that will require a master’s or PhD then a biology major would become more worthwhile.
Details about a degree in economics
Below are some of the key details of the economics major.
Current pay
According to Payscale, the average salary of a person with a bachelor’s degree in economics is $71,173.
Types of jobs you can get
With a bachelor’s degree in economics you can expect to qualify for jobs such as:
Data analyst
Business analyst
Operations manager
Financial analyst
Actuarial analyst
Since economics makes use of a lot of statistics, you can qualify for many different types of “analyst” roles. Many of these roles will require the knowledge of programming in programming languages such as R and Python. While doing an economics degree, it would help a lot to make sure to learn R and Python and to be able to show projects that show that you are able to make use of those languages in a useful way.
Difficulty
The difficulty of an economics degree will depend a lot on the specific program. Some economics programs will be very math heavy and focused on statistics and its use in economics. Whereas, other programs will not even require calculus and will be more focused on broad economic theory.
If you do decide on an economics major, it would help a lot to consider what you want to get out of it and the jobs you are interested in so that you can choose an economics program that is suitable for you.
Types of classes you’ll be taking
As mentioned above, economics programs can vary significantly. However, there are some classes that you can expect to be taking including:
Principles of microeconomics
Principles of macroeconomics
Intermediate microeconomics
Intermediate macroeconomics
Statistics and probability
Political economics
Econometrics
Topics in money and finance
Topics in banking
Depending on the program, you might also be required to take mathematics classes including:
Calculus
Linear algebra
Discrete mathematics
Important things to be aware of
An economics degree, by itself, can be difficult to get a job with. As a result, it would be very important to take classes related to the job that you are interested in getting.
It is common for economics majors to end up in programming type roles after graduating. It would help you a lot to make sure to take some programming classes as electives and a CS minor would likely be a very good option. Doing this would open you up to good-paying roles such as software engineering.
In addition, if you are interested in going to graduate school for economics, it would help a lot to make sure to take more advanced mathematics classes since they are often required for graduate economics.
As mentioned above, the classes in an economics degree can vary a lot. It would help to look at the degree sequence for the economics degree program at your university and to make sure the required classes are suitable for the types of jobs you are interested in.
More details about the economics major
I have written more about the economics major here and I have written more about how hard you can expect the major to be here.
Reasons to choose biology
While it can be difficult to find jobs with just a bachelor’s degree in biology, there are still some reasons why you might want to get a biology degree.
The first reason is if you want to get a job that requires a master’s or doctoral degree in biology. If you do, then a bachelor’s degree in biology would be more worthwhile.
Also, if you have a very strong interest in the subject, it would also make it more worthwhile for you to major in biology. However, it would also help to minor in something that is employable at the bachelor’s degree level.
Reasons to choose an economics degree
If you are more interested in getting an analyst type role, an economics degree can be better suited than a biology degree. In this case, it would help to make sure to learn how to program in R and Python, to take some data analysis classes, and to emphasize more on statistical classes in your major requirements.
Regardless of the degree that you choose, it will be very important to make sure that you choose classes related to what you want to do after graduating. It is also important to consider what type of job you are most interested in and to choose your major accordingly.
