Careers advice - civil service

ryanm8655

Hi all,

I have been at a bit of a careers cross roads of late. I’m an economist in the civil service, previously an SEO but was recently promoted to G7. The salary is pretty decent plus the average salary pension, though in London it doesn’t go all that far.

Prior to the promotion I was considering a career change and switching into law. However, with coronavirus and the fact it would take 4 years for me to be where I am now in terms of pay (with 2 years studying on minimal money), I am beginning to question whether it’s worth it in the long run. Especially given how resource intensive it is securing a job in commercial law (my final application has just fallen agonisingly close to the final hurdle after several stages, which would mean another year of focussing on applications to the detriment of my current career).

I am beginning to think I’d be better off refocussing myself on my current career, coming up with a plan and trying to get as much out of it as possible. The issue is that most people tend to stay at G7 longterm, there aren’t many jobs at the grades above and also the pay rises aren’t great for the additional responsibility but I need something to strive for. The other issue is the lack of exit opportunities...essentially my bread and butter is cost benefit analysis and it’s pretty niche. It doesn’t translate to banking or finance, so I feel a bit trapped. I also want to
be doing something I love and while I work in one of the larger departments, I don’t think anyone who studies economics dreams of the role I am doing

While I am grateful for the new job, I have cruised through the last 4 years or so, always with one eye on a career in law. So now feel I’m lacking that long term direction. I’m in my early 30s, so starting to get too old for the whole grad scheme/training contract thing...and also have focussed on that (attending events and doing applications) and hence my economics isn’t where it could be...

Where do I go from here in the long term? 

Some thoughts going through my head (These aren’t mutually exclusive):
- part time masters in economics to improve my prospects on the technical side (but will it help me progress?)
- Aim for a move into a less niche/more typical economist role with exit opportunities e.g. energy or competition economics (would be interesting but necessitate masters).
- Aim for a move to DFID doing development economics (again interesting but needs masters).
- move into a policy role within civil service, where I won’t need to invest so much in the technical skills but rather become an expert in the policy area
- Move into consulting, though unless as a grad I’d be doing public sector stuff..,
- move into a different career entirely e.g. finance/big 4 (Advantage over law is I would still earn, albeit it’d still take 3 years to reach my current salary)
- keep going with law (applications resource intensive and no guarantees - I’d essentially be putting my career on hold for another year and potentially be in this same position next year)

Sorry for the rambling thread...just at a bit of a loss about where I’m heading long term and want to get to grips with it...I don’t want another 4 years on cruise control just waiting for an opportunity to fall on my lap or just settling where I am...

Many thanks for reading and any advice much appreciated!

[Deleted User]

Have you thought about economist roles in the FCA or Bank of England? They come up from time to time and the pay is (generally) better than the Civil Service. A law career will mean a big step back in pay and a big hit to your work/life balance in the shorter term. 

ryanm8655

camelot1971 said:

Have you thought about economist roles in the FCA or Bank of England? They come up from time to time and the pay is (generally) better than the Civil Service. A law career will mean a big step back in pay and a big hit to your work/life balance in the shorter term. 

That’s a very good call. It’s not something I could walk into but certainly something I could build towards by trying to develop the right experience and doing a masters to boost the technical skills. I had considered the Bank of England a longtime ago. If I could do a masters and land a role at the treasury then that’s a realistic path. Likewise if I could do a masters and secure a role at the CMA or even another economic regulator then that could flesh out a path to the FCA. Just did a quick search and there are two posts currently. One I could certainly see myself doing, though would need experience of economic regulation and more technical skills. It’s good because it’s a bit of a hybrid of law and economics in terms of looking at antitrust and competition law. Conducting investigations etc. And working with lawyers. That was my idea of being an economist back at uni and I’d consider that a bit of a dream job, as lame as that sounds.

Thanks so much for the suggestion.