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Development Economics Major

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Development Economics

345 Bachelor's Degrees Annually
264 Master's Degrees Annually
#57 in Popularity
$116,020 Median Salary

Types of Degrees Development Economics Majors Are Getting

The following table lists how many development economics and international development graduations there were in 2019-2020 for each degree level.

Education Level Number of Grads
Bachelor’s Degree 328
Master’s Degree 239
Doctor’s Degree 19
Graduate Certificate 8
Basic Certificate 1

What Development Economics Majors Need to Know

O*NET surveyed people in occupations related to development economics and international development and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Development Economics and International Development Majors

According to O*NET survey takers, a major in development economics and international development should prepare you for careers in which you will need to be knowledgeable in the following areas:

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  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Skills for Development Economics and International Development Majors

A major in development economics and international development prepares you for careers in which the following skill-sets are crucial:

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  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.

Abilities for Development Economics and International Development Majors

As you progress with your development economics and international development degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

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  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.

What Can You Do With a Development Economics Major?

People with a development economics and international development degree often go into the following careers:

Job Title Job Growth Rate Median Salary
Compliance Managers 8.0% $107,480
Economics Professors 10.9% $101,480
Economists 6.1% $104,340
Environmental Economists 6.1% $104,340
Investment Fund Managers 8.0% $107,480
Regulatory Affairs Managers 8.0% $107,480

Who Is Getting a Bachelor’s Degree in Development Economics?

328 Bachelor's Degrees Annually
77% Percent Women
41% Percent Racial-Ethnic Minorities*
The major attracts more women than men. About 77% of the recent graduates in this field are female.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of development economics and international development majors is as follows:

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Race/Ethnicity Number of Grads
Asian 40
Black or African American 19
Hispanic or Latino 57
White 160
International Students 30
Other Races/Ethnicities 22

Geographic Diversity

Development Economics and International Development appeals to people across the globe. About 9.1% of those with this major are international students.

How Much Do Development Economics Majors Make?

Salaries According to BLS

Development Economics and International Development majors often go into careers where salaries can range from $115,590 to $117,180 (25th to 75th percentile). This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Development Economics Major  ( 115590 to 117180 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some careers associated with development economics and international development require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to development economics and international development have obtained the following education levels.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 1.4%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 1.1%
Some College Courses 0.2%
Associate’s Degree (or other 2-year degree) 1.5%
Bachelor’s Degree 30.6%
Master’s Degree 26.2%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. 3.9%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. 1.7%
Doctoral Degree 33.2%
Post-Doctoral Training 0.7%

Online Development Economics Programs

In 2019-2020, 61 schools offered a development economics and international development program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 0 0
Certificate (1-2 years) 0 0
Certificate (2-4 Years) 0 0
Associate’s Degree 1 0
Bachelor’s Degree 8 1
Post-Baccalaureate 0 0
Master’s Degree 24 2
Post-Master’s 1 0
Doctor’s Degree (Research) 7 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Development Economics Worth It?

The median salary for a development economics and international development grad is $116,020 per year. This is based on the weighted average of the most common careers associated with the major.

This is 191% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,522,400 after 20 years!

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You may also be interested in one of the following majors related to development economics and international development.

Major Number of Grads
General Economics 31,150
Econometrics & Quantitative Economics 15,671
Applied Economics 652
Other Economics 428
International Economics 335

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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