Networking in person: At conferences and events The key to successful networking is the concept of reciprocity – that you and the person with whom you are connecting could be beneficial for each other's work. You shouldn't try just to impress the other person with your brilliance, or to hound them for favours or insights – rather, you need to achieve balance between the help that you can offer to each other. So if you're talking to someone at a conference, do ask questions about their work and their results, and do also offer relevant insights from your own work if you can. Remember that the person you are talking to also wants to cultivate a broad network, and they are likely to be as interested in your research as you are in theirs. Many academics like to practise a brief “elevator pitch” of their research for use in networking situations. This one minute summation of yourself and your topic should be presented in a way that would be comprehensible to someone who was not an expert in your field. You should be able to convey what is interesting and unique about you and your research in a succinct way, so practise this for when someone asks about your work. Online networking: Twitter and Facebook One of the most popular methods of networking, particularly among young academics, is through the use of online social networks. Websites such as Twitter or Facebook allow you to share text, pictures, links and other content. Twitter is a popular choice of microblogging platform among academics who want to share research with each other and the public. All of the short form text entries are public, so you can quickly built up networks of experts to follow in your topic from all over the world. Following these expert users, retweeting interesting content, and tweeting to promote your own research are all ways to boost your online profile. Facebook tends to be used more personally, for connecting with friends and casual social acquaintances. But that doesn't mean you can't use it professionally too – make sure that your education and work information is up to date, and be sure to set any questionable content to be viewable only to private groups. Your potential co-workers don't need to see you enjoying a wild Friday night! If you've done this, you can use Facebook to connect with other people in you geographic area, and there are strong communities for each university or college which may be useful for you. Other networking opportunities: Seminars, lab meetings, journal clubs & summer schools Don't forget that networking doesn't just mean meeting famous and senior members of your field. It's also important to build up relations with your peers, to help you form new ideas, for feedback on your research, and for social support. Events like seminars, lab meetings, journal clubs and summer schools are opportunities for you to get to know new people and hear about their work as it happens. Offer to present at and organise these events and you'll have even more chances to get in contact with attendees. Once you've met someone whose work you're interested in, be sure to stay in touch. An email after a conference telling someone that you enjoyed meeting them, or a note of thanks to a seminar organizer, for example, will go a long way to help people remember you. Then you can be sure that next time you need advice, help or information, you have a large network of people you can turn to for help.
Networking is a concept which is somewhat alien to many academics – you may well have heard how important it is to create an interactive network with other researchers in your field, but it's hard to know how to get started. Some people have a negative view of networking; thinking that it involves being deceptive or finding a way to turn every conversation around to yourself. But it needn't be that way! Successful networking is all about putting you in touch with other like-minded academics or professionals with whom you share interests. These networks help you both by supplying information (for example, finding someone with an expertise in a statistical technique which you are interested in using) and by providing you with a way to share your research (for example, sending your recent publications to other researchers who could find it useful). Networking can be a fun and rewarding way to build up your profile within your discipline.
Tips on Staying Motivated During the Holiday Season
Holiday season can be a time of great joy, and unfortunately also one of very low productivity. Parties, travel, colleagues taking time off and an abundance of food take their toll, so that returning to work or study after the holiday season can often become a stressful experience. We’ve already discussed the perils of trying to write a thesis during summer in this blog post. Have no fear, however! This time round we’ve taken the time to compile a quick list of tips on staying motivated during the winter holiday season. Write lists. There are few things more satisfying than dramatically scoring a task off a to-do list... Alright, there are a lot of things more satisfying, but it can help you to manage your workload and to get through everything that needs to be done piece by piece. This article suggests that there are a number of health benefits associated with listmaking. If the thrill of checking each box is not reward enough, plan a small treat for yourself if you get through everything! Communicate! With colleagues, family, friends, your boss... Let everyone know what you’re doing, what needs to be done, what gifts you’re hoping for... Ask for help! If you’re having trouble getting things done or working your supervisor/professor if you’re a student. If you’re self-employed, have a dramatic inner monologue, or discuss with your pet if you need a focus for your dramatic pointing and gesticulation. Stay focused. Try to be forward thinking and plan ahead so that you can meet all your deadlines. Stay focused, so that you can get everything done and really enjoy your time off without unfinished work looming over your head. Balance your work and family needs. It’s important to take some time off for yourself and your family, but you don’t want to come back from holidays to a work or study nightmare Get some exercise! According to the American Psychological Association, exercise boosts productivity! Don your sweatbands, your lycra shorts, your brightly coloured spandex gymwear and go for a jog, a trip to the gym, take your dog for a walk, take your children for a walk, or hop on a treadmill if it’s freezing outside. Got a large Christmas turkey? Use it for some weight training! Organise your desk and paperwork. Coming back from your holidays to a clean workspace is a great beginning to a new year. Make organisation a New Year’s resolution! Try to get some Vitamin D (sunlight!). This might be hard if you’re living in the Northern Hemisphere and aren’t fortunate enough to be heading south for the winter, but make sure to get some fresh air at the very least. Buy presents early. Every year, we all say that next year will be the year we buy presents in advance. This can be that year! Take some time off. Above all, remember to take a break and relax a little. After a big 2014, we all deserve some rest and relaxation. And if you’re looking for some reading material while you’re on your break, be sure to head to the INOMICS blog! For the economists among us, why not read about the economics of Christmas?
It can be hard to stay motivated surrounded by chocolate, festive lighting and tinsel garlands. With the prospect of overseas holidays, dinners with family and friends, gift-giving and an abundance of food fast approaching, whether you work or study, maintaining focus can be an issue.
How to Make the Most of Being Department Chair
Highlight the positive Although it may sometimes seem like a key component of your job as department chair is to deal with the dirty work that no one else wants to take care of, the best way to make the most of your position is to slog through the dirt (as we’ll address in the next point) and focus on the positive. For instance, it is important to recognize the honors your colleagues receive. If someone in your department receives an award or significant grant, highlight their achievement in a public fashion. They will appreciate it, and it will inspire and motivate others in the department, thereby bringing more positive recognition to your discipline. Accept the negative Yes, being department chair means taking care of tasks such as hiring and firing. As Dr. Michael Munger points out in his article on the subject, sometimes firing a toxic staff member can significantly improve the work environment for everyone else in the department. As chair, it’s your responsibility to take the time to recognize such an issue and take care of it in a sensible, considerate and timely manner. Broaden your friend circle The transition from just being an academic to also being an academic supervisor can be difficult. There is no need to break ties with your friends in the department, but you may find it helpful to seek out new friendships as well. Since you will be completing evaluations and creating assignments for your colleagues within your department, spending too much time with specific individuals might lay foundation for claims of favoritism. As Dr. Rob Jenkins emphasizes in this article, forming new friendships with other department chairs or members of the administration will help create a support network of people facing similar tasks, while also steering you clear of possible complaints regarding favoritism. Create trust Being a trustworthy department chair is twofold – you must create trust by listening to your colleagues and not divulging any personal information they may come to you with, yet you must also gain their trust by doing what you say you will do. By keeping any promises you make, you will make clear to your colleagues that you take the position seriously and care about their interests and demands. Address the right issues In order to maintain the trust you build amongst colleagues, you need to address certain issues while quietly getting rid of others. If you know the loud complaints of a certain colleague will not lead to anything positive for the department, take the time to figure out the best strategy for addressing his or her grievances without creating space for a flame war. Opposingly, a good chair also spends time on the quieter issues that can have a big impact on the department, such as landing grants, creating long-term plans for the trajectory of the department and mentoring new colleagues. Set personal goals Although it may seem that you are suddenly a slave to the department, it is important to take the time to recognize how your time as chair can also affect your personal growth. In order to do so, many people suggest writing down a brief list of clear goals that you would like to achieve while you are chair. Reflect on these personal goals throughout your time as chair and build on them if and when it seems appropriate. If you’re not quite at the department chair level just yet, perhaps taking a look at our article Teaching Tips for New Professors would be more helpful for you. Or, if you’re still searching for the right job, head to INOMICS and browse through hundreds of positions based on your specific interests and qualifications. Photo credit: Boston Public Library
With the start of the academic year come many changes to most university departments – new students, new courses and, every so often, a new department chair. If you happen to find yourself in the lucky position of holding this post, it’s important to be aware of the plethora of responsibilities and advantages that come with the job. In this article, we’ve gathered helpful tips and reminders from a variety of sources to create a comprehensive list of what you need to know to make the most of being a department chair.
From Poli Sci to Policy – Jobs For Political Science Graduates
Moreover, while many grads feel ready to put theory into practice, they are not sure where to look for the right opportunities. If you find yourself in this position, you should start by considering what you found most engaging during your studies, then think about what type of position you might like to have that builds on what you learned. To help you in that process, here are some possible career options for someone with a political science degree: Diplomat Human rights worker Lawyer Policy Analyst Academic Social Worker Lobbyist Politician Journalist The next question is, of course, how to land a job in one of these areas. One of the best ways to gain both experience and connections is to engage in an internship. Many organizations encourage recent graduates to apply as interns, and quite often an internship can turn into a paid or more long-term position. Another option, promoted in this article from Michigan State University, is to contact someone at an organization you find interesting and ask for an informational interview. Such an interview allows you to ask detailed questions about the type of work being conducted and the best first steps to take if you are interested in such a career path. Informational interviews grant you an inside look into a potential career without any level of commitment. While many of the jobs in politics and policy are clustered in certain cities, such as Brussels, Washington, D.C., New York, London or other capitals and metropolises, there are also countless organizations located in other areas around the globe. Rather than simply picking up and moving to a city where you know large organizations are located, it’s a good idea to gain initial experience first then look for that next step that might have a big move associated with it. Whether you live in Australia, Zimbabwe or anywhere in between, there are relevant institutions operating nearby that you should not overlook. Take a look at these recent articles to peruse top think tanks and social science research institutes in the U.S., Europe and across the Spanish-speaking world. If you would rather gain experience in a development organization, here is a list of international organizations around the world. Once you have found organizations that interest you and are ready to send out applications, have a look at our step-by-step guide to writing a great cover letter. No matter where you’re applying, first impressions are important, so use this article to keep your applications at the head of the pack. Finally, it is important to remember that it’s okay to be unsure of which direction you’d like to go in, and to take steps one at a time. In fact, focusing on the present and taking the time to figure out what really makes you happy is one of the most important ways to start you down the right career path. Photo credit: RJ Schmidt
With September upon us and campuses around the globe preparing for the coming school year, many recent graduates face a harsh reminder that student life is over and it’s time to plunge headlong into the workforce. Yet, sometimes landing that first career-oriented position can be tough, particularly in today’s economic climate.
How to Create an Infographic for Academic Purposes: Tools & Resources
You can see infographics everywhere: humorous animations on the Internet, news and stories in newspapers and magazines, company advertisement and teaching materials. The most important thing to think about before using any of the abovementioned tools is WHAT you want to show. The information should be presented in a clear and structured way to ensure your audience can grasp it easily. Some people might think that creating a good and catchy infographic requires a lot of effort, time and money, but this is not necessarily true. You will obviously spend some time brainstorming the idea itself and ways to visualise it, but you don’t need more than a pen, a piece of paper and a little imagination. The Web offers many options to put your infographic together and create a masterpiece to share with the world. Here is a list of our favourite easy-to-use online tools to make your own infographic; each has a free and a paid option depending on your needs and requirements. They are very intuitive and don’t require weeks of training and learning. 1) Inforg.am The perfect tool if you need to make graphs and charts, as you can visualise your numbers and ideas with the available options including pictorials and wordclouds. Upload your data or simply adjust one of the existing templates accordingly. No download is possible in the free version, but you can share it on your social media account or get a web link. 2) Piktochart This tool allows you to start your infographic from scratch or choose from around 10 designs for free (or many more in the paid version). Many creative charts and graphs are available as well. Downloads in the free version can be made in JPEG and PNG format. You can share your infographic through social media, but not using a link (which is a significant drawback for many users). 3) Venngage This is another nice source that allows you to make your infographic from scratch and offers many types of charts, maps and pictures to select from. Downloading your masterpiece is only possible if you have the paid version. Finally, if you want to get some creative ideas on how to organize your own infographic you can browse through coolinfographics.com and dailyinfographic.com to see what other people have created and get inspiration. This is of course not a comprehensive list. Please share other creative tools with the INOMICS Team and other readers in the comments. Image Credit: Tartila / Shutterstock (Licensed Image - copyright)
A picture speaks a thousand words, an adage that also holds true when presenting data to an audience. Whether to stand out during an academic conference or a class presentation, to share statistics with your customers, to explain a difficult concept to your students or to impress your friends with something funny: if you want to convey the message quickly and clearly an infographic is the tool to use!
Interviews for any kind of job are stressful. In a short period of time you need to show the best of yourself, and sell yourself to a potential employer. This is always challenging, especially if you are doing so for the first time. In light of this, we decided to aggregate a number of tips on how to make your interviews for an academic position go more smoothly. This can hopefully help increase your chances of getting the job of your dreams in a university or college, especially in preparation for the upcoming American Economic Association Meeting 2014. Obviously there is no single prescription of what to do and how to behave in an interview, but there are some important guidelines to follow. Plan your Time: don’t miss your deadlines Plan your applications in advance and remember that many positions for autumn 2014 are already open. Today, November 14, is an important date for those interested in the American economics job market – the Economics Job Market Signaling registration is officially open and will run for the next two weeks. Do your Homework: know how to present your research and know the institution you apply for It may sound obvious, but the fact that you have to be prepared for each interview cannot be overstated. Thorough research about the institution you apply for as well as about people who will interview you (if you know the names) is an absolute prerequisite. Of course you need to be ready to talk about yourself and your research. The best strategy is to have a shorter and a longer summary version of your research paper and use the one necessary according to the situation. You should also be able to discuss the significance of your research, its potential limitations and further steps you plan to take. Expect Tricky Questions: it is not just about your research You have to be ready to answer different “Why?” and “How?” questions, and not all of them are going to be about your research. The most obvious ones are “Why did you apply for this specific institution?” and “How would you teach an intro course of X subject for undergrads?” There are dozens of resources available on the Internet describing frequently asked interview questions. Look through them and make sure you have a reasonable answer ready for all of them. Be Prepared Look smart and behave accordingly. Don’t forget to bring extra copies of your CV and slides/handouts for the presentation (if you are required to make one). Make sure you know your CV well since you might get questions about specific experiences listed – and the answers need to be consistent. Be Proactive during the Interview Ask questions! Good interviews are organized so that the two-sided matching procedure is successfully implemented. It is the only time when your potential employers can assess you in person and the best time for you to evaluate you potential colleagues. Moreover, prepare a couple of questions you would like to ask about the faculty or university, or the teaching peculiarities one might encounter (normally at the very end of the interview). Take Notes Bring notes and take notes! It always looks more professional if you come to an interview with some prepared materials already. Even if you don’t refer to your notes it shows that you’ve taken the time to prepare, and that you’re confident. After the interview write down relevant information from the points discussed that might later help you choose between different positions shoul you get more than one job offer. Final tips: Check out this witty and very useful “Advice from David Laibson” about how to plan and get ready for AEA/ASSA meetings, what questions to expect during the interview and how to deal with fly-outs should you be invited. To see where you are in terms of the global economics job market, you can also look at the INOMICS Econ Job Market Report 2013 which outlines preferences and trends from the perspectives of both economists and employers. And remember: you make the impression in the first 3-5 minutes of the interview, so try your best to say the most valuable information about yourself within that time. One more important thing: if you receive an invitation to an interview, the institution has already decided that you are competent for the position. Hence, try to relax and present your skills, knowledge and experience clearly and confidently. We wish you luck in all your upcoming interviews. And if you have any interesting experiences to share, feel free to leave comments! Image Credit: Shutterstock / fizkes (licensed image - copyright)
Pursuing an academic career is very different from working in the private sector in many ways, including in terms of the application and recruitment process, even before you start in your first job!
Internships in Economics – Lessons from an Economist!
Having gone through the cumbersome process myself and having successfully crossed over into a “real job” after a tedious string of internships, here are a few lessons and tips I would like to share with you, no matter which part of the internship journey you are currently navigating through. Lesson 1: Do what interests you! It is important to go for an internship in a discipline that really interests you. In the long run companies will hire you for the skills you can offer them and this decision will not be based on the reputation of the company where you did your summer internship. Work experience in a local unknown NGO in Congo is as valuable as an internship at the Big 4 consulting firms in New York. Bottom line, do something you are good at, pick out solid skills you can apply in life and don´t make a company´s reputation the top factor in your decision. Lesson 2: Building expertise or versatility? You can stick to the same area of interest as you proceed or you can be versatile in your choice of internships! There is no golden rule about what works. However, anecdotal evidence suggests that sticking to one area of interest builds a certain credibility of expertise in that area and may lead to brownie points for you from recruiters who want specialists. Having said that, I firmly believe that while in university, one should have full freedom to taste different worlds and thereby realize with experience what they would ultimately like to do. As long as you can explain your path and give convincing reasons for the choices you made, no experience is inferior to another. Lesson 3: The money will come as you get better! I remember vividly how unpaid internships were looked down upon during my university days. People make you believe that you are selling yourself too low if a company where you intern does not offer you remuneration. Please do not believe this especially if you are at the start of your internship phase in university! As a natural progression, I can guarantee you that the money will come as you get better at what you do, i.e. chase excellence and not money and sooner or later, money will chase you for your excellence. In fact, sometimes the companies that offer you the best training and work experience do not have the budget to support interns. However, with what they teach you, your skills might be worth a lot once you do enter the real job market. Lesson 4: Most important: Do not compare! I am going to repeat here what granny said all along. Do not compare yourself with others! Though it sounds cliché, this is crucial. While I was in love with Development Economics and not particularly fond of the mathematical methods of economics, I made myself go through several unnecessary and painful processes of applying for finance based positions in leading investment banks all over the world. Why? Peer-pressure in a top economics college of India where everyone blindly runs behind big brand names offering high salary packages! Of course, the outcome was repeated rejection- not good for one´s self esteem and also not worth it in the long term, as I can see today in retrospect. In conclusion, I would like to say that what you make out of an internship experience and how much you leverage from the social network you make depends on you. Every experience contributes to who we are as people and professionals. Make sure you take time to dig into the details of what you want, what you learned from a given experience and share it with the recruiters in an authentic way as you go along. At the end of the day, recruiters want authentic people with authentic experiences and real life skills. Gather those and move ahead with confidence! Good Luck. Image credit: taniawillis
Whether pursuing a bachelor’s degree in economics or having finished a PhD from a top university, at all stages of the academic pursuits and research careers, young economists have been engaged in the grueling process of finding internships with reputable organizations. While masters and bachelors students aim to gather work experience and transition into full time jobs, PhD candidates attempt to combine their research with the work of relevant organizations.
The Directory of Open Access Journals (DOAJ) defines ‘Open Access’ as “journals that use a funding model that does not charge readers or their institutions for access,” which encompasses both ‘self-archiving’ and ‘gold access’ publishing. The former is done by an author uploading their work on a website accessible to the public whereas the latter is a model whereby the author pays to submit their article to an established journal which will then be accessible to the public. The first and foremost issue in the fight against ‘Open Access’ is the journal industry, which stands to lose everything. A spokesperson from Elsevier went as far as pointing to stagnant library budgets and increasing global investment in R&D as a potential cause of the gap between information available and information affordable to libraries, a situation thus out of the journal industry’s control. In addition to journals, the cost of creating an accessible and financially viable open access space for high quality articles is not a cheap endeavour. The Finch Report – commissioned by the British Government – estimated GBP38m per year in publishing fees alone just during the transition period plus the additional funds (approx. GBP15m) to extend journal licencing and upgrade infrastructure. The numbers are certainly dependent on the model chosen, in that a gold access model would at least generate some income whereas self-archiving may or may not. To further this argument, the scientific journal ‘Nature,’ which already offers a gold access subscription,references the hard cost of editors, peer-review organizers, and online storage, which all play an expensive role in the publication of academic articles. They estimate the cost in an entirely open access situation to be as much as $10,000 per article in major (scientific) journals. The second issue is quality. Published journals have stringent guidelines for peer-reviews to ensure every published article is of a certain academic quality, which is not something most academics would like to see the demise of or a perceived demise of. DOAJ, however, includes in its journal submission guidelines that only journals engaged in peer review practices are to be included in their directory. This is less of an issue for the gold access form of Open Access, but certainly arises in the context of self-archiving, where users can upload both published and unpublished works, depending naturally on where it is uploaded. Arguments in favour of Open Access are based on a number of factors. Firstly, the cost of many major journals is rising above what people are willing to pay. Even prestigious and wealthy universities like Harvard are in a crunch at these costs. The rise in price is due in part by the increased need for online versions and the increase in printing costs, but also, as mentioned above, the amount of research being conducted. Others argue for Open Access as a matter of ethics. Many people argue that the public should have access to publicly funded research. The British Government, for example, has listened to this argument and is underway in their efforts to make public research more accessible with the help of Wikipedia Founder Jimmy Wales. Another professor involved in the Finch Report added that “universities produce knowledge not for ourselves but because it has a greater good.” Despite the UK’s forward thinking on the matter, there is always the issue of reciprocity, eg. If the UK allows its research to be available openly are they still going to have to pay for work done by British scholars abroad and work done abroad by foreign scholars? Short answer: yes, unfortunately. In order for open access to work, it would need to be available in all countries to all scholars, which is a tall order. There are a number of online platforms where self-archiving is both available and encouraged which are becoming more popular amongst academics, but it is a slow process to change the opinions of scholars worldwide and to go up against the entire journal industry. Until then, DOAJ lists a total of 184 Economics journals already in their database!
‘Open Access’ has been a bit of a buzzword in academic circles over the last couple of years. Its rise to popularity has come from a combination of factors including the increased price to access academic journals, as well as increased access to the internet, which has had the effect of speeding up the rate at which information travels.
How To Deal With Nervousness During Presentations At a Conference
Advance Preparation The very best way to keep your nerves under control is to have practised your entire presentation from beginning to end beforehand, at least once. A few days before your presentation, recruit a friend or two to sit with you and be your audience. You can practise in an empty lecture hall or classroom if one is available and if that will help you to feel more comfortable. But it's also fine to practise at your house, or even in a cafe or bar if you bring a laptop with you. Run through your whole presentation, including slides, and take note of any areas where you struggled to find the right words or weren't sure what topic to speak on next. That way, you can know which specific topics or slide you need to remind yourself of. However, it's important not to over-rehearse. You don't need to have your entire presentation memorised, and in fact doing so will only make your presenting style appear stilted and unnatural. You should be familiar with the material you're presenting (and if your presentation is about your research, you are likely to already be as familiar with the material as you need to be), and be able to anticipate some questions or criticisms that your audience might have. But remember that you are already an expert in this area – hence why you're presenting on it at a conference. There's no need to attempt to cram lots of extra information into your brain the day before a presentation; rather, let the knowledge that you already have guide you in how you present. Immediately Before You Present One issue that is almost bound to arise when you present, and can be very stressful, is problems with the computer, projector, or slides which you have prepared. Between different file formats, different laptop adaptors, and the difficulty in getting video or sound effects to work correctly in your presentation space, there is a lot that can go wrong. The best way to deal with this is to make sure you've tested out all of the equipment earlier in the day before your presentation. Don't wait until 10 minutes before you begin in order to test! If there are problems, you need to know earlier so that you can find the correct adaptor, get help from IT support, and so on. If you're presenting in the afternoon, find a time in the morning at which you can test. If you're presenting in the morning, arrive very early, or consider testing the day before. That way you won't have any last-minute technical problems to deal with. While Presenting It's common to feel flustered, hyper-vigilant, or a bit overwhelmed when you start to present. The best solution for this is to give yourself the opportunity to take a few seconds to get yourself together. A good way of achieving this is to have a bottle of water in front of you – if you feel yourself getting overwhelmed, stop talking and have a drink of water and take a deep breath before you continue. It might feel to you as if you are standing in front of everyone and doing nothing for ages, but don't worry, it's only a few seconds and won't feel that long to the audience. Another common problem is feeling like you don't know where to put your hands, or what to do with your body. If there is a lectern or podium in front of you, then make use of it – rest your hands on either side and grip it gently, which will help to make you feel grounded. If there's no lectern, then a good tip is to gently squeeze together your thumb and index finger while you're speaking; this pressure will help as an outlet for your nervousness which your audience won't notice. Finally, one great way to reassure yourself during a presentation is to find a friendly face in the audience who you can can look to when you're feeling unsure. If possible, ask a friend or colleague to come along, and catch their eye when you need to. Otherwise, pick an audience member who seems open and friendly and look at them – the point is to think of your audience as a collection of friendly people, rather than as a singular scary judging entity. When you can keep your nerves under control, your presentation will be more fun for you and more engaging for your audience. We hope these tips help! You can find all the latest conference opportunities for your field on our website. Header Image Credit: Shutterstock (licensed image - copyright)
You've been accepted to give a talk at a conference, you've worked on your presentation, and you're ready to go – now you just need to keep your nerves under control! It's very common to struggle with nervousness when presenting, so consider these tips to help you deal with this.
Click here for jobs in environmental economics 1. Environmental consultant Some big multi-national companies have a dedicated department for environmental issues, but there are also many small or medium-sized enterprises which want to get in on the sustainability game but can't afford or don't want to dedicate a full-time employee to the topic. For these companies, they may choose to employ an environmental consultant to advise on how the business can adapt to environmental concerns. Working as a consultant is highly lucrative, and enjoyable for those who are energised by constantly moving from one project to the next. This work allows you to spread your knowledge across a broad range of companies, and to have a potentially large impact on a number of businesses. However, the work can be high-pressure and some people may find it isolating to not have a permanent office and familiar co-workers. Work can be found with an environmental consultancy firm such as CH2M Hill, Tetra Tech, or Arcadis. 2. Agriculture economics Another area which is related to the environment and has a large amount of funding dedicated to it is agriculture economics. The considerations for how a country will grow or import enough food to support its population is always a concern, particularly in countries which are moving away from farming as a major job and towards technology-based economies. The US, for example, pours a large amount of funding into research and the development of policies regarding agriculture. A distinctive feature of agriculture economics is the huge role multinational agribusinesses have in the industry. Those who have worked in fields like finance or health will be familiar with the large influence which is exerted by huge corporations. Some people will find this sort of high-pressure environment to be stimulating, while it might be overwhelming for others. This is a field which will only become more important as sustainability becomes more incorporated into agricultural policy. And if it does interest why not consider working for a government agency, such as the USDA in the US or DEFRA in the UK. <11an>limit:2;categories:jobs|courses|conferences;disciplines:Agricultural and Environmental Economics (JEL Q)|Economic Development, Innovation and Growth (JEL O)</11an> 3. Resource management As someone trained in environmental economics, you are in an excellent position to understand the limited nature of certain resources. The acquisition and distribution of water, for example, is a problem not only in sub-Saharan African countries but also in places like California, where there has been a drought for many years. There are often multiple governmental agencies which are involved in the management of resources, which create and enforce policies aimed at distributing resources fairly. This work will require frequent collaboration with lobbyists and policymakers, so it requires someone who is comfortable operating within a political system. It's also vital that you are able to explain your knowledge to non-experts, so this is a role suited to someone highly skilled in communication. Possible roles in resource management include working for a local government agencies like the California state water board, or federal organisations like the US Environmental Protection Agency. Useful organisations to check out for more information about this field include the Association of Natural Resource Extension Professionals (ANREP) or the National Association of Environmental Professionals (NAEP).
If you're a current economics student and you've chosen to specialise in environmental economics, then the good news is that there are a ton of job opportunities in this field. With the growing awareness of environmental issues and concern for sustainability, you can find work in all sorts of areas. But what are some of the specific jobs that you could do as an environmental economist? Today we're looking at possible career paths to give you some ideas about the kind of work which you might like to do once you graduate.
Economic Development, Innovation and Growth (JEL O)
Agricultural and Environmental Economics (JEL Q)
Opportunity to Provide Expertise at the European Parliament - Interview with Alexandre Mathis
Who are you and what are you doing? I work for the European Parliament, more specifically in the Policy Department on Budgetary affairs. We support the work of two committees: the Committee on Budgets and the Committee on Budgetary Control. In other words, we provide to MEPs, who are members of these two committees, analysis, statistics or any other information relevant for their duty. You have launched a multiple framework service contract for the provision of external expertise in the field of the EU Budget. Could you describe what this entails? The European Parliament seeks independent expertise on a variety of current and emerging issues connected to its work. This multiple framework service contract will support the work of the two Committees on Budgets and on Budgetary Control in the European Parliament by enabling them to request written expertise in their areas of competence. Which types of expertise do you need? Actually, the widespread areas of the EU budget could be regarded from different angles, for example legal, economic, audit, management, political science and/or ethical angles. Therefore, we are looking for experts in different areas, not only in economics, econometrics and statistics but also in evaluation, impact assessment, financial control, fight against fraud and financial programming, to name a few. Naturally, you do not need to be able to cover all aspects in the areas of competence of the two Committees on Budgets and on Budgetary Control. Which form will this expertise take? Expertise will be provided in the form of research papers of varying length, delivered upon ad hoc requests within a limited and defined period. Responsibilities would also include attendance at committee meetings and presentations by leading experts. What would a typical profile of a successful candidate for this type of application look like? Frankly speaking, I do not think we can draw a typical profile. However, there are common features of all our experts. Obviously, they are authoritative in their field and free from any conflict of interest. In addition, they are able to explain complex things in simple terms, not only in writing but also orally. Their analyses are based on robust existing figures and statistics and complemented by concrete illustrative examples. Moreover, they are able to draw a range of policy recommendations from their analyses. Our experts come from a wide range of institutions, from research labs in academia to think tanks and consulting firms. So, to sum up, you do not only need to be a recognised expert in your field but also be able to translate your knowledge to a non-expert audience and to suggest policy options based on evidence. Could you give some examples of past work? As I said, the areas of competence of the two Committees on Budgets and on Budgetary Control are varied. During the last mandate, many analyses were conducted and it is impossible to present all of them here. You can have an extended view of what was done here. I will just highlight three works. One study explores the potential revenue from the extension of charging fees by EU Agencies. It presents a high-level review of the current and prospective situation of fees and charges in the 33 decentralised EU Agencies. This study focuses mainly on Agencies’ fees collected from industry and on fees charged for services rendered. It extends the analysis to alternative funding means where relevant. Another study analyses the use of financial instruments within the EU Budget. It first revises key concepts in determining the use of those instruments, before providing an analysis of the functioning and consistency of the ex-ante assessments, which are required by regulation to help identify the rationale and scope for financial instruments. We also investigate the cost of implementing the EU budget in different EU member states. This involves calculating how much it costs to invest each euro from the budget. This work enables a sound understanding of the EU’s economic capabilities, notably through estimates of the costs linked to grant management. It analyses the differences between the various grants processes and identifies areas for improvement in the grant management process. Therefore, all these works involve expertise typical of INOMICS users. What might accepted experts typically do after delivering expertise to the European Parliament? To start with, I must highlight that we are not offering full time work. We are requesting expertise to help fulfil MEPs’ demands and needs. That means our experts have their own professional life. However, providing expertise to the EU Parliament in its everyday political work looks good on a business card or CV. Any final thoughts? I think INOMICS users have exactly the right knowledge and skills we are looking for. So, have a look at the Multiple framework service contract IP/D/ALL/FWC/2020-001 for the provision of external expertise in the field of the EU Budget in this list of notices and apply before November 18, 2019!
Parliamentary Research Administrator, Alexandre Mathis, kindly sat down with INOMICS to discuss his work and call for applications from economists to help advise on the EU Budget. Alexandre explained to us in more detail what he does and what exactly it is the European Parliament is looking for.
Public Economics & Economic Policy (JEL H)
Macroeconomics and Monetary Economics (JEL E)
The Best Cryptocurrency Conferences in 2019
In fact, crypto events are becoming more and more popular, and they are definitely a viable source for just about anything you could possibly need when it comes to Blockchain and other cryptocurrencies. These conferences come in all shapes and sizes, but there are a few important things that you should look for when deciding which event to attend. They include: Speakers As that the main reason a person attends a large cryptocurrency conference is to learn more about what’s trending and upcoming things to watch out for, it’s highly important that the speakers are experts in the field. Of course, a bit of variety is also beneficial, and speakers who specialize in Blockchain, cryptocurrencies and even financial management are well-received. It’s also nice to see representatives from not only large, prosperous corporations, but from promising young startups as well. Exhibitors To stay on top of the industry, it’s helpful to learn all that you can about any supporting products or technologies that can help you grow your business. Large events always have exhibitor space, where vendors can showcase their companies, and you can see their products firsthand, or learn all about software or other technologies that can come in useful. Additional events The best events will also offer other ways to network and engage with other attendees. These can range from smaller lectures to even dinners and parties. Often, these more laid-back settings can be ideal for striking deals or building connections, without the stress and hectic activities of the main conference. Pricing Of course, pricing will be a big part of your decision-making process. However, be sure to understand that while the largest events may have the highest price tags, they will also include many more ways to learn and intermingle with others. Also be aware of the pricing structure, and often, you can save by registering for a package plan that includes the add-on events, meals, etc. Location A cryptocurrency conference in a nice setting might just be the icing on the cake. Many events are held in Asia, so whether you’re traveling from abroad or from just a few cities down the road, wouldn’t it be nice to get in a little sightseeing? So without further ado, here are our five best cryptocurrency events that are happening in 2019. 1. TOKENOMX TOKENOMX was held last year in Chiang Mai, and was avidly received by a large number in attendance. This event hosted 21 expert panelists and lecturers, and it included Erica Blair from Blockchain Branding, Nicholas Merten from DataDash and Barnaby Anderson from Blockchain Alchemy. TOKENOMX is a unique Asian blockchain conference in that it requires a non-pitch policy for all of the speakers (something similar to the principle behind Ted Talks and the 20-minute speech.) TOKENOMX also provides slides from all of the speakers, which is included in the ticket price. TOKENONMX 2019 will be held in Bangkok on February 27-28th, and a variety of packages are available. So far, their panelists include: Miko Matsumura - Founder of Evercoin Sally Eaves - Co-founder and CTO of Project Shivum Nicholas Merten - The founder of DataDash Michael Nye - Content creator and crypto trader 2. Blockchain Summit The Blockchain Summit that took place in Hong Kong in 2018 was one of the largest conference of its kind. With over 1,000 attendees, around 80 speakers and numerous exhibitors, it’s definitely one to put on the calendar. Some of the speakers included Mun Shing Cheong of C Block Capital, Terence Lam of Up Blockchain Technology Limited and Dr. Daniel Ng of Beijing Tsinghua University. The event will again take place in Hong Kong 2019 on February 27-28th, and it will focus on four emerging Blockchain themes. Again, the list of speakers will include some of the leading names in the Blockchain industry, including: Peter Levesque - Modern Terminals Limited Ritesh Sarda - Sun Life Financial Georgio Mosis - Innovative technologies Samita Malik - Aegon Asia 3. Blockchain Expo Global The Blockchain Expo Global is held in London, which is definitely a swiftly rising Blockchain market.The event is slated to host over 12,000 attendees. Last year, speakers included the likes of Kapil Dhar from Lloyds Banking Group, Oliver Volk from Allianz and Thomas Power from 9 Spokes. This year’s event will be on April 25 and 26th, which is ideal for people who are looking for a spring event. It will boast over 500 speakers and 350 exhibitors. Some of this year’s speakers include: Julian Gray - Technology Director of BP David Ferguson - Head of Digital Innovation of EDF Energy Nadeem Ladki - Director of Ripple James Poulter - Head of Emerging Platforms & Sponsorship of LEGO 4. CoinAdvice BlockChain Conference CoinAdvice BlockChain Conference is held in Pattaya, Thailand. Last year’s event hosted over 1,500 attendees, plus over 100 speakers and numerous vendors. This company is a business promoter who works with the financial industry, along with partners and networkers. This year’s conference will be on March 4-6th. This year’s speakers will include: Dr. Sarat Kumar Malik - Securities & Exchange Board of India Vit Jedlicka - President of the Free Republic of Liberland Ali Mohammed - Co-Founder & CEO of Gold Bits Coin Alexi Lane - Everex CEO and Founder 5. TOKEN2049 TOKEN2049 is held in Hong Kong on March 13-14th, and it will hope to have over 2,000 attendees, along with more than 100 speakers. There will also be vendors, influencers and people from more than 50 different countries. This event focuses on networking, as well as exploring the crypto process and current developments, so as to shine a light on its unique opportunities. Speakers will include: Charlie Lee - Creator of Litecoin Bill Barhydt - CEO and Founder of Abra Saifedean Ammous - Author and Economist Max Kordek - President of Lisk
As we can all envision, the world of cryptocurrency is most decidedly here to stay! Gone are the days of “we’ll just wait to see how things go” as the words Blockchain and Bitcoin more and more common in everyday conversations with both colleagues and friends. But as we look forward to upcoming trends or even attemp to develop a better understanding of cryptocurrencies and how they work, there comes a time when doing a few random Google searches just isn’t going to cut it any more when expanding your business or making an investment. The good news is that online searches, e-books and lunchtime chats no longer have to be your only source for information.
Recruitment Trends: Interviews with Top Employers
To find this piece and a range of other insights, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now! The IMF is perhaps the most well-known global financial regulator, with 2700 employees. Working on behalf of its 189 member countries, it aims to: ‘foster global monetary cooperation; secure financial stability; facilitate international trade; promote high employment and sustainable economic growth; and reduce poverty around the world’. The University of Barcelona, meanwhile, is regularly ranked within the top 150 universities in the world, and usually top in Spain, to work and study in, with almost 4000 academic faculty staff members and a particularly lauded economics department. The LMU is even bigger, with around 6000 academic staff and 8000 administrative and is regularly ranked within the top 50 universities in the world. We are excited to be able to share their specific insights as well as perceived global trends that graduates face year on year. Expectations and Environment Kalpana Kochhar emphasises that job interviews at the IMF tend to focus on ‘the ability of candidates to think on their feet, logically work through a response, and demonstrate a structured, practical approach’ over more theory-based thinking. This focus, it seems, is a key distinction between the institutions, as Jordi Roca Solanelles confirms: ‘we seek excellent teachers with strong research skills who contribute actively to teaching at graduate and undergraduate level and who will supervise current students in their research.’ Additionally, both Kochhar and Solanelles agree that having experience as a Teaching Assistant is of great use in furthering a student’s future career, setting them up nicely to take on teaching responsibilities in a postgrad role. The institutions offer widely different working environments, another big factor for a graduate to consider when approaching the job market. Solanelles, for instance, acknowledges the difficulties in creating a supportive working environment, when so much of the work expected involves ‘pressure to publish in high profile journals in order to progress in their career’ individually, adhering, in other words, to the “publish or perish” principle. Dr Englmaier however, argues there is a ‘great team spirit within an excellent research infrastructure, with the possibility to reach out to non-academic stakeholders’. In further contrast, employees at the IMF work in large teams on an international basis, the organisation boasting ‘the opportunity to combine academic work with practical policy work in a supportive, intellectually challenging environment’. Changing Tides Particularly intriguing are the changing demographics and trends in the job markets of the IMF and UB. Both recognize an increasingly diversified and international workplace especially over the last ten years. Interestingly, the IMF, perhaps because of its inherent international structure, do not feel the need to have ‘hard-coded diversity “quotas”’, stressing that the individual candidate’s skills and experiences are the primary concern. The UB meanwhile, acknowledge that while committed to an increasingly international teaching staff - and therefore research method - they have had to operate within ‘important budgetary constraints’ not having the luxury of the IMF’s funding. Nevertheless, Solanelles believes the ‘obtained returns have clearly outweighed the costs’. In the INOMICS 2018 Salary Report, we found that generally, worldwide, while the gender pay gap is closing, especially at Junior and Mid-level roles, the widest salary disparity remains between men and women in senior-level positions. There also seems to be a “glass ceiling” hindering women from accessing senior positions. The IMF, UB and LMU all have procedures in place to combat this. The IMF tells us they ‘calibrate salaries on entry to ensure gender neutrality’ and offer parental leave benefits to both genders. On the other hand, UB and LMU have a wage policy set by the Spanish and German governments respectively, meaning an ensured pay equality between genders within their academic institutions. It is important, therefore, to research factors such as employee rights or salaries when choosing your career path, to see what public regulations and measures are in force in prospective countries. Organisations such as EDGE, the global business certification standard for gender equality, for example, exist to ensure equal pay and treatment of genders in global corporations, such as the IMF, who are approved. ‘Many [women] hold high-level and influential positions within the IMF and outside’ Kochhar explains, herself a strong example. However, the representatives of the academic sector we spoke to recognise there is still a shortage of women at the faculty level, with Solanelles conceding ‘only 2 out of 10 full professors in Spanish Universities are women’. Dr Englmaier agrees, noting that ‘while we now have many more brilliant female students, so far this has not fed through to the faculty level’, implying workplace gender equality remains a long, hard struggle. Looking Forward Both Kochhar and Sollanelles agree that the job markets, in their respective areas, are expanding generally, meaning a wider range of opportunities are available to graduates now compared to a decade ago, following the 2008 financial crash - a trend that currently shows no signs of slowing down. There is a marked difference between them, however, when it comes to job prospects and salaries. Solanelles argues that the austerity measures in Europe resulted in ‘the introduction of wage freezes in academia over a prolonged period of time’. Simultaneously, retirement-aged staff are not being replaced so readily, ‘implying higher workloads for existing employees.’ That said, he is optimistic that the trends are changing for the positive, with a far more competitive job market widening the job prospects for teaching staff both inside and out of Spain. Given the IMF’s size, it is perhaps unsurprising they haven’t felt as much of an effect from the austerity measures as Solanelles refers to. In evidence, they have continued to offer positions to ‘between 20 to 30 graduating PhD economists each year’. They have noted also increased salaries and contracts for a diverse range of positions in: ‘academia; central banks and government; finance and other private sector companies; and international organisations’. This shows not only a huge array of choice, but also the option to “change track” along the way. Conclusion Broadly speaking, those better suited to working in academia are those more interested in teaching and publishing. Generally, such work is conducted individually, with one afforded a fair amount of freedom. In comparison, the IMF, perhaps indicative of conditions outside of academia, tends to offer its employees higher wages, increased networking opportunities and more varied work, often in a team setting. While all interviewees observe shifts in their respective workplace demographics, breaking down some barriers and gaining access to the top level, particularly for women, remains a hard and on-going challenge. That said, each institution is offering an increasingly diverse set of roles and jobs, making career choices for recent graduates all the more exciting. To find this interview and a range of other insights, click the button below to download the latest INOMICS handbook. ➲ Download the Handbook now!
We spoke to top hiring managers Kalpana Kochhar, Director of Human Resources Department at the International Monetary Fund (IMF), Jordi Roca Solanelles, Head Manager of the University of Barcelona’s School of Economics (UB) and Professor Dr Florian Englmaier, Professor for Organisational Economics as the Ludwig-Maximilians University of Munich (LMU), to discover what challenges economics post-graduates should expect from prospective careers in some of the biggest institutions around.
Tips for Women on Working in Male-Dominated Academic Fields
1. Be wary of sexual harassment; it's a real problem. Sexual harassment is a major problem for women all across the working world, including in academia. Overly handsy male colleagues, senior professors making inappropriate sexual comments, or a 'boy's club' atmosphere where women are demeaned or sidelined are all unfortunate realities that women have to put up with. At worst, this can extend to sexual assault or rape. Remember that it is never acceptable for a man to make you feel unsafe, especially at a work event, and you don't have to tolerate disgusting behaviour. Stay strong, and if you feel safe enough, say “No”, “Stop”, “Don't touch me”, or “That's inappropriate” loudly and clearly. It can help to have a trusted friend nearby at events who you can stick with and who can come and back you up if a man is making you feel uncomfortable or unsafe. 2. Talk over interruptions. It has been well established that men interrupt women more than they interrupt other men, and that women interrupt people of all genders less. This means that if you want to hold the floor and you want your point to be heard, that you'll have to talk over interruptions. This will feel rude at first, but remember that it is actually others who are being rude by interrupting you. You don't have to stop talking every time someone tries to talk over you. Feel free to be assertive and to raise your voice somewhat so you can keep steamrolling when a man starts talking before you are done. In formal events like debates or panel discussions, a gender-aware moderator can help to support women by censuring men who interrupt. 3. Shut down mansplaining. One of the most frustrating aspects of being a woman with expertise is having men assume that they know better than you do about your own subject. It happens to almost every woman at some point that a clueless man will try to explain a topic to her which she already knows more about than he does. Feel free to shut this down, as you needn't humour mansplainers. A curt “I already know that” and an unimpressed look will go a long way to convey that such patronising behaviour is not welcome. 4. Don't let men assign you 'grunt work'. In academia, there is a lot of work that needs to be done but which isn't high profile or considered to be important. This includes tasks like serving on committees, working in admissions, student supervision, university evaluations, and greeting guests or making a round of tea for meetings. Academics do not receive extra pay for this work and it is not considered relevant for evaluations or promotions in the way that teaching or research is. Unsurprisingly, this burden of this service work falls disproportionately on women. It is good to want to be helpful and supportive in your department, but do not volunteer for this type of work and push back if you think that you are being assigned more of it than your male colleagues. Doing this type of work will not help your career and you shouldn't have to take on more of it just because you are a woman. 5. Remember that women are judged more harshly than men are for the same behaviours. It is well established that the same behaviour is read vastly different when it comes from a woman than when it comes from a man. Men are “assertive” while women are “bossy”, and men are “persistent” while women are “nagging”. These differences in judgement are especially obvious in academic contexts which requires vigorous debate, and can have a big impact on work evaluations and promotions. Especially if you are in a leadership position, be prepared for a sexist backlash against your management style and decisions. 6. Learn about imposter syndrome. A common issue that affects women in academia is imposter syndrome, in which even though a person is qualified and competent at their job, they still feel like a fraud or an imposter. This can really hold women back from professional growth, so learn about this issue and try to identify when it might be affecting you. 7. Find other women to connect with. One of the biggest problems that women working in male-dominated fields experience is feeling isolated and misunderstood. Seeking out other women in your field can help you to feel less alone and to have someone to share your frustrations with. Look out for women's networking or mentoring events where you can meet other women working in your field. Finally, remember that if you are a woman in a male-dominated field and you are struggling personally or professionally, then you are not alone. Gender inequality is still a major problem in all fields of academia, so if you are having a hard time then you are not the only one. Try to surround yourself with other women who can support you. We'll be covering more topics related to gender and academia soon, so check back to INOMICS.com soon for more.
Academia can be a tough environment for women to succeed in. In many departments, men outnumber women in the senior ranks and this can result in a variety of gender-based prejudices and problems that women have to navigate. Here are some tips for women working in male-dominated academic fields:
Salary Gap Between Positions in Academia Slowly Narrowing
With the Salary Report now in its 5th year, sufficient data has been collected from the U.S, the U.K, Germany, and Italy, to compare the wages of PhDs, Post-Docs, and Full Professors over the last half a decade, beginning in 2013. As Graph 7 shows, the salaries of PhD candidates in the respective 4 countries have fluctuated somewhat over the last five years. In the USA and Germany, there can be observed a slight increase over the period, perhaps reflecting their improving economies. 2017, in particular, proved for both countries a lucrative year for economists of this status. In comparison with Italy, the inverse can be observed, and a slight decline in salary is visible. Of the four, the UK stands out as the anomaly, experiencing relatively consistent wages at this level. This consistency of wages in the UK is also apparent for those engaged in Post-Docs. Although offering the highest average salary over the last 5 years, the U.S, similar to Germany, showed largely stagnant salaries, both seeing a marginal decline over the previous 3 years. Italy, while showing signs of a modest increase in the last 2 years remains the lowest of the Western countries included. The general trend of a Post-Docs’ average salaries going down mirrors that of PhD holders who also earned less in 2017 than they did previously. From Graph 9, it can be observed that in all four countries that were analysed, the average salary of full professors grew between 2013 and 2016, although a modest drop seems to have taken place thereafter. This may be partially explained by the significant shifts in currency exchange rates between 2014 and 2016. Interestingly, we can analyse how the salaries of professionals from the same country, but in different positions have changed over time. For instance, in Germany in 2013 there was a huge gap between the average salary of a PhD candidate and a full professor, and even until as recently as 2015 full professors were earning more than three times as much as PhD candidates. During the last two years, however, this gap has shrunk, with PhD candidates’ salaries going up in 2017 and full professors’ salaries dropping slightly. Although the difference is still significant (more than double), there is a clear trend towards narrowing salaries between positions in academia. ➲ Download the full Salary Report here! There will be more analysis of the Salary Report’s findings in the upcoming weeks, keep an eye on the INOMICS insights section for future instalments. Additionally, for career opportunities and job listings in business, finance, and economics, take a look at our jobs section. It has all that you will need to take that next big step!
The following is an analysis of data taken from the INOMICS Salary Report 2018 - downloadable for registered users here. Specifically, it looks at the average salaries of PhDs, Post-Docs, and Full Professors, working in economics over the last 5 years, in the U.S, the U.K, Germany, and Italy. It is the 4th instalment in a series of insights handling the Report’s findings.
For Economists Seniority Pays Off, Especially in the U.S
With a larger sample than in any previous year, the 2018 edition of the Salary Report has permitted a comprehensive analysis of worldwide salary averages in relation to the level of seniority; a direct comparison made, once again, between those working in academia and the private sector. The data is further separated into selected countries and continents making a far-reaching geographical assessment also possible, a resource essential for those planning a prospective career in economics. Evidently, in both academia and the private sector, average salaries are directly proportional to the level of seniority of the position held. That said, academia, one can observe, offers a gradual increase in salary as one ascends the seniority ladder, whereas in the private sector jumps in pay are much sharper. Most notably, this can be discerned in the difference in salaries between those employed at junior and mid-level industry positions. Moreover, when approaching the upper echelons of the academic pay-scale, the hitherto incremental increases in salary make a sudden leap, increasing from $73,390 to $112,660 when advancing from an associate professorship to a full professorship. This pattern is corroborated by the second graph – that focuses solely on academia - which clearly shows that senior-level salaries are significantly higher than their mid-level counterparts, while the difference between junior and mid-level salaries is generally less remarkable. This discrepancy is most readily visible in the data pertaining to North America and Western Europe, where senior-level salaries are, on average, around 50 per cent higher than those at mid-level. Interestingly, in Asia, Central America, and South America, there is little difference between the salaries enjoyed by junior and mid-level economists, pointing to a longer career path before significant wage increases are experienced. Thus, it could be concluded that sizable salaries in these regions appear strictly contingent on one holding a senior position. In the private sector, the differences between salaries according to the level of seniority are far more striking than in academia, with the exception of Asia and Africa, where, as one gains seniority salary growth remains much less dramatic. Asia, particularly, has a comparatively small range of average salaries, across all levels of seniority. Junior level economists earn, on average, only $15,000 less than the most senior and effectively the same as those fulfilling mid-level roles. In contrast, economists in the US experience huge jumps in wages as they progress; beginning, on average, at 83,380, advancing to $116,380 when mid-level, and eventually reaching a handsome $182,760 when senior. ➲ Download the full Salary Report here! There will be more analysis of the Salary Report’s findings in the upcoming weeks, keep an eye on the INOMICS insights section for future instalments. Additionally, for career opportunities and job listings in business, finance, and economics, take a look at our jobs section. It has all that you will need to take that next big step!
The following is an analysis of data taken from the INOMICS Salary Report 2018 - downloadable for registered users here. Specifically, it looks at the average salaries of economists working in academia and the private sector according to their level of seniority. It is the third instalment in a series of insights handling the Report’s findings.
The United States Remains the Highest Paying Country for Working Economists
This year’s Salary Report Survey had more respondents than any previous year. As a result, its data is more diverse, representing the salary information, highest academic degree acquired, level of seniority, work experience and job type of over 2000 economists from 116 countries. The geographical extension of the sample from previous reports has facilitated a more sophisticated analysis of salary trends across a wider range of countries, and, in turn, has made possible a more revealing comparison between said regions – the theme of this insight. These geographical assessments can also be viewed against trends in time. For example, wages in certain areas can be seen increasing since 2016, while elsewhere the reverse is taking place. For an economist looking to settle down, particularly in the mid to long term, such patterns could be of huge importance to their decision-making. <img src="https://d35w6hwqhdq0in.cloudfront.net/e0d41f08a90b4d43e4dabb3467fdb050.png" data-entity-uuid="d1ed8b86-3187-4556-9749-4ffc645536ae" data-entity-type="file" alt="Source: Salary Report 2018" width="769" height="357" data-caption="&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Source: Salary Report 2018"> The data, once again, is separated into the salaries of those working in academia and those in the private sector. In general, salaries in most countries are higher in the private sector, but for a number of notable exceptions: in the USA, Germany and Colombia private sector workers earned around 10% less than their academic counterparts. With regard to North America (also including Canada), this trend is new, and a change from last year’s findings, when private sector worker pay tended to outstrip that in academia. No doubt economists will watch keenly to see if this inclination persists. The figures for Italy and France were, perhaps, the most anomalous, showing the largest discrepancies between earnings between the sectors. In Italy, those in the private sector earned, on average, almost $30,000 more than the academic counterparts, while in France, the difference, though not quite as large, was still around $23,000 - food for thought for an economist eyeing work in either country. Comparably, there is far less separating the earnings of the two sectors in the other countries surveyed, where the difference generally stands around $6,000 or less. In keeping with last year’s findings, the United States remains, by some stretch, the most lucrative place to work as an economist, the average salary in academia a sizable $144,040, compared to $139,340 for those working privately. These figures dwarf the next best-paying country, the UK, where economists in academia can expect to earn, on average, around $85,000, and almost $90,000 in the private sector. Referring back to the previous Salary Report, private sector pay in the UK can be seen spiking. Hitherto, those in academia, on average, outearned those in the private sector. However, in the last two years, that trend has inverted. Wages have dropped slightly in academia, whilst surging in the private sector.
The following is an analysis of data taken from the INOMICS Salary Report 2018 - downloadable for registered users here. Specifically, it looks at the average salaries of economists working in academia and the private sector across the world.
Work for the government One of the biggest employers of microeconomics specialists is the government. Politicians rely on microeconomists to help them to devise policies, and then to put them into action. These policies will generally be in areas such as employment, corporate regulation, or international trade – areas in which microeconomists have particular insight. For those who wish to put their economics knowledge into direct practice, this is an appealing career. If you specialise in, say, the effects of raising the minimum wage on local businesses, you will find many departments to whom you could provide useful input. The specialised knowledge which you possess can have a real impact on which policies are approved and are eventually put into place. The advantage of working for the state is that such jobs are generally very secure, and you can typically stay in them for life if you want. These jobs also tend to have good benefits like excellent health care coverage and plenty of vacation days. The disadvantage is that working within the government can be frustrating due to the slow pace and the difficulties of getting all the different stakeholders to agree on a policy. It is work which is suited to someone who is patient, good at explaining complicated economic issues to non-experts, and who is willing to work alongside people of different political beliefs and values. Alternatively, you might work on government policy indirectly as a researcher for an NGO or an academic institution, for example. These jobs offer some of the same benefits as working for the government, such as the chance to influence policy, but they also tend to be less secure in the long term and to be less well paid. <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Microeconomics (JEL D)</11an> Work for a large business Microeconomists are often employed by large companies to help them assess the supply and demand in their sector, or to understand the various costs of business in order to set prices or allocate resources. With their knowledge of principles like supply and demand, market failure, or opportunity costs, microeconomists can be helpful to understand and optimise the workings of a large, complicated business. Microsoft, for example, has its own microeconomics research group of full time researchers, postdocs, research assistants, and visiting scholars. The group examines how the development of information technology is affecting the global economy, in order to provide data on the current status and possible future status of the IT industry. The group covers topics like machine learning, computer science, and computational social science. Microsoft uses this information to plan their future research, sales, and marketing strategies. This work is similar to that which would be performed in a university research group, but as it is part of a business it is more tightly focused. In some ways, this can lead to more limitations than in universities as researchers must work on the topics assigned to them by the company, however, in other ways, it is more freeing as there is less pressure to constantly produce publishable results. This kind of work is suited to someone who can handle big ideas and high demands that are set by large international companies. If you can deal with this, then there is potentially excellent pay and very interesting work to be done.
Microeconomics is one of the most prominent subfields of economics and is one which many people studying economics find themselves drawn to. But if you are studying economics now and you decide to specialise in microeconomics, what kind of career options would be open to you? To assist you in planning your career, we're listing some of the top career paths for different economics specialisations, and today we're looking at the top career paths for specialists in microeconomics.
Today we're looking at careers for those who specialise in economic systems. This area of study looks at how resources are allocated and goods or services are distributed within a particular social group or geographic area, as well as how production occurs within the system. Here are some of the careers which this specialisation will prepare you for: <11an>limit:2;categories:jobs|courses|conferences|Professor;disciplines:Economic Systems (JEL P)</11an> Management If you think of a company or an organisation as a system, then it's clear how an understanding of economic systems can help with managing the people within that company or organisation. To be able to get the best work from people, they need to be managed in a way that is fair, motivating, and supports them in achieving their goals. Management can be a much more difficult job than people imagine – just think of all the stories you've heard about terrible bosses! - but it can also be rewarding to help workers achieve their full potential. Management can also be well paid and is a fairly stable long-term career. Working in management requires a particular personality type. You need to be calm, even under pressure, and able to communicate effectively with everyone from the most junior new hires to the senior management of your company. You also need to be confident enough to stand your ground and to assert your authority when required. If this sounds like you, you might be surprised by how much crossover there is between the knowledge which you learned from studying economic systems and the skills which are required for management. Management Consultancy An alternative to working for one company as a manager is to work as a management consultant. In this role, you are temporarily assigned to a company to help improve their management practices. This might include observing current management, suggesting and testing new strategies, and helping to train existing managers. This role is well suited to someone who is a natural problem solver and who enjoys coming up with innovative approaches to problems. One advantage of working as a management consultant is that it is very well paid. Another factor to consider is that this role will require you to frequently move from one company to another, usually moving from one office or location to another too. For some, this will be an advantage as it keeps work fresh and means that you are unlikely to get bored. For others, however, this will be a disadvantage as it makes it difficult to feel settled anywhere and to make friends with your colleagues. Local Councils An alternative to management for those with experience in economic systems is working for a local or regional council. With knowledge of planning and strategy and with aims to reform outdated or ineffective practices, you are well positioned to offer support to local governments when they are examining issues such as property rights, assistance programs, or even urban planning. This work is generally not glamorous or well paid, however, it does present the opportunity to make a real impact on the quality of life of people living in your region. Local politics can be a challenging area which requires skills in communication and diplomacy to get what you want, but it can also be immensely rewarding to see a program that you helped to plan and institute come into fruition.
One of the great things about studying economics is that it gives you a wide range of skills: from writing to data analysis to critical thinking. With these skills, you are well set for all sorts of different careers. But you might be wondering what the best career path for you is. To help with this, we're producing a series of articles on top career paths for economists. To let you find the right career for your specific skill set, we're breaking the topic down into different specialisations within economics.
5 reasons why your paper got rejected from a conference
1. Your project wasn't relevant to the conference theme Generally, a conference will have a theme which is relevant to the main subject of the field. For example, an international development conference might focus on a particular country, region, or research methodology. For the best chances of having your paper accepted to the conference, you need to find a way to link your work to the theme of the conference. Think about how your work could be relevant to the theme – even if it isn't directly related, you might be able to find a way that your results could have an impact on the theme more broadly. 2. Your abstract had too much theory and not enough results While it's true that conferences do often accept theoretical work as well as empirical work, it can be much harder to get a theoretical paper accepted than an empirical one. If your paper has been rejected, it might have been because it focused too much on theoretical aspects. If you have empirical results, even if they are incomplete or preliminary, then you should include this information in your abstract for better chances of being accepted. Alternatively, if you wish to submit a purely theoretical paper, make sure that you choose the conference to which you are submitting carefully. Some conferences are more welcoming of theoretical work than others. 3. Your project is not yet far enough along to present Conferences offer you the chance to present your work and to get feedback on it, even if your project is still underway and you have not yet completed it. For example, perhaps you are planning to perform your experiment with 40 participants, but so far you have only done it with 20 participants. In this case, you might do a quick preliminary data analysis to see whether your results look promising, and then present them at a conference if they do. However, you cannot always present very early work. If you don't yet have results, or if you have only run a very small number of participants, then your work is unlikely to be accepted for a conference. 4. Your project is not original enough A big draw of the work presented at conferences is that it is new and cutting edge. There is some work which is less likely to be accepted, such as a replication of a previous study. Although this can be important and useful work, it is not novel enough to be presented at a conference. Try to find the unique angle that your work offers – whether that is in terms of theoretical ideas, experimental methodology, or potential consequences of your study. You need to be able to show how your work is different from what has been done previously, to demonstrate that it would be useful for a conference audience to hear about it. 5. Your abstract didn't convey why your project is interesting Finally, even with the best project in the world, you won't be accepted to present at a conference if you abstract isn't good. Make sure that you follow any guidelines given by the conference organisers – for example, conferences often have a strict maximum word count for abstracts, and they may have a required structure too. Also, give a brief overview of your results in your abstract and ensure that you talk about why your research is novel or important. Make it easy for anyone to read your abstract and immediately know what your work is about and why it is of interest.
When you want to present your work at a conference, either as a poster or as a presentation, then you need to first submit an abstract. A committee from the conference will go through all the abstracts and choose some of them to be presented at the conference. So there are times when you will be not be invited to present your work at the conference. But why is this? What leads to your paper being rejected from a conference? Here are five reasons that this might happen.