Sciences

How to Become a Economist in South Africa

Analyse markets, policy, and resource allocation to advise decision-makers

APS 28–38
APS Range
R250k – R1.5m per year
Annual Salary (ZAR)
Moderate
Job Demand
Investigative / Conventional
RIASEC Profile
About this Career

Economists study how individuals, businesses, and governments allocate resources. In South Africa, economists work for the National Treasury, SARB, major banks, consultancies, and development organisations. BCom Economics or BA Economics (3 years) followed by Honours provides the standard pathway. Quantitative skills are increasingly important.

What Does a Economist Do?

Economists gather and analyse economic data, build forecasting models, write economic research reports, brief government or corporate clients on market trends, and advise on policy impacts.

APS & Subject Requirements
Minimum APS
28 points
Typical APS Range
28–38 points
Required Subjects:
Mathematics (Level 5+), English (Level 5+), Accounting or Business Studies recommended
✗ Pure Mathematics is required — Mathematical Literacy is NOT accepted

Use the free Career Helper APS Calculator to calculate your exact score for each SA university.

SA Universities Offering This Programme

Programme names and requirements vary by institution. Always verify directly with the university before applying.

Step-by-Step Career Roadmap

  1. Achieve APS 28+ with Mathematics. BCom Economics at UCT, Wits, Stellenbosch, or UP. Rhodes has a well-regarded Economics department. UNISA offers a distance option.

  2. Complete Honours in Economics (1 year after BCom) to access analytical roles. Develop quantitative skills in Stata, R, or Python for econometric analysis.

  3. Work at the National Treasury, SARB, World Bank, commercial banks, or economic consultancies. A Master's degree significantly improves career prospects in government and research.

Frequently Asked Questions
What APS do I need for Economics in South Africa?
BCom Economics requires APS 28–38. Mathematical Literacy is not accepted for most economics programmes — pure Mathematics is required. Honours (postgrad year) is increasingly expected for analyst-level roles.
What do economists earn in South Africa?
Junior economists start at R250,000–R350,000. Experienced economists earn R500,000–R900,000. Chief economists at major banks earn R1,000,000–R1,500,000+.
Is economics a good career in South Africa?
Yes — economic analysis skills are valued across public and private sectors. The National Treasury, SARB, major banks, and international development organisations (World Bank, UN) offer strong career paths.
Salary Range in South Africa (2026)
Starting Salary
R250k/year
Senior / Experienced
R1.5m+/year

Salary ranges are indicative for South Africa 2026 based on market data. Actual salaries vary by employer, location, and experience.