What do you do if you want to pursue a career as an economist in the non-profit sector?

1 Acquire Education

To embark on a career as an economist in the non-profit sector, you'll need a strong educational foundation. Typically, this means earning at least a bachelor's degree in economics, public policy, or a related field. However, many roles may require advanced degrees such as a master's or Ph.D. Your coursework should include statistics, econometrics, microeconomics, and macroeconomics. Understanding these areas equips you with the analytical tools necessary to tackle the complex issues non-profits face. Additionally, classes in public policy and social sciences can provide valuable context for the unique challenges within this sector.

2 Gain Experience

Hands-on experience is invaluable in the non-profit sector. Look for internships, volunteer opportunities, or part-time positions with non-profit organizations that align with your interests. These experiences will not only provide practical skills but also help you understand the day-to-day operations of non-profits. You'll learn how to apply economic theories to real-world problems and how to communicate complex economic concepts to stakeholders who may not have a background in economics. This real-world exposure is crucial for building a resume that stands out to potential non-profit employers.

4 Develop Skills

Beyond economic theory, you'll need a set of skills tailored to the non-profit environment. Proficiency in data analysis software, such as R or Stata, is often necessary for conducting research and evaluating programs. Strong communication skills are also vital; you must be able to explain your findings to non-economists. Additionally, grant writing abilities and understanding fundraising dynamics can be advantageous, as securing funding is a significant aspect of many non-profit organizations' operations.

5 Understand Sector

It's important to have a deep understanding of the non-profit sector, including its structure, funding mechanisms, and regulatory environment. Familiarize yourself with the types of non-profit organizations and their missions. Learn about the various sources of funding, such as donations, grants, and government contracts, and how they impact an organization's strategy and accountability. Being aware of the legal and ethical considerations unique to non-profits is also critical for an economist working in this field.

6 Stay Informed

Finally, staying informed about current events, policy changes, and economic trends is crucial for economists in any sector, but especially so in the non-profit world where these factors can have immediate implications. Regularly read industry publications and reports, follow relevant thought leaders on social media, and participate in continuing education opportunities. This ongoing learning will keep your skills sharp and ensure you're ready to address new challenges as they arise in the ever-evolving landscape of the non-profit sector.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?