However, I believe there is a simple reason which explains the higher pay amongst economics majors; it is just the nature of the jobs they go on to do. As in previous discussions, it is clear that a lot of economics majors go on to the financial sector, many to investment banking.
Say, for example, an investment bank might be advising on a merger deal worth $5bn, and even if their fees is just 1%, that is still $50m coming into the bank. Multiply this by the number of deals they do, and that's a lot of money earned within the firm, and to be paid to their employees. If... (read more)
Interesting points made there!
However, I believe there is a simple reason which explains the higher pay amongst economics majors; it is just the nature of the jobs they go on to do. As in previous discussions, it is clear that a lot of economics majors go on to the financial sector, many to investment banking.
Say, for example, an investment bank might be advising on a merger deal worth $5bn, and even if their fees is just 1%, that is still $50m coming into the bank. Multiply this by the number of deals they do, and that's a lot of money earned within the firm, and to be paid to their employees. If... (read more)