Introduction

Job market advice is often given by successful job market candidates after they’ve finished the market and landed a job. Their experience may look better from the comfort of their new job than when they were going through it. This rose-tinted perspective is important, as it may give future job market candidates (JMCs) something to look forward to and provide a helpful assessment of what worked for them. However, they may make the market seem less stressful or more fun than it actually was.

We hope to complement the excellent practical guides out there (e.g. John Cawley's GUIDE AND ADVICE FOR ECONOMISTS ON THE U.S. JUNIOR ACADEMIC JOB MARKET) by focusing less on the logistics and more on overall well-being. We talk about what to expect in terms of the mental health challenges you might face on the market and tips on how to overcome them.

For example, mental health tip #1: people will tell you the job market is fun. While there certainly are fun aspects of the job market (traveling and meeting new people - although we did not get to experience all that), the job market is not really meant to be fun, and it often isn’t. Most people will find some aspect of the process stressful and the stress may manifest in the form of insomnia, moodiness, loss of appetite, or other physical symptoms (headaches, backaches, etc.). So if you are struggling or just not enjoying the market, know that you are not alone and that it is completely normal!!

This guide will start by focusing on Your Big Picture, i.e., what do you want in a job and what actually makes you happy? We are utility maximizers after all... Then we dive into what to expect in different phases of the job market. We define these phases as "pre-summer", summer, preparing (Sept-Oct), applying (Nov-Dec), first-round interviews, second-round interviews, and the offer stage. Each section will provide mental health tips and point to additional resources that we found useful along the way.

Your Big Picture

As we went through the job market experience, we all found ourselves getting "lost'' in the process, sometimes even forgetting why we were going through the job market in the first place. Our advice for you is to start the journey by reflecting (and documenting) your goals for the job market. We encourage you to answer these questions before the market starts and reflect throughout the process. Assuming this is a dynamic process (which it is), then your preferences may change. If they do, ask yourself: why? Did your information set grow? Did your choice set change? What is your discount factor? And most importantly, are you a rational agent?


  1. What type of jobs are in your choice set? Do you know what each of these job types entail?

There are many career options available for Ph.D. economists. You can stay in academia as a tenure track professor or teaching track/lecturer. You can continue research in non-academic settings like state/federal governments or think tanks. You can opt for consulting or join the ever-growing tech sector. This American Economic Association webpage has some information on job options open to Ph.D. economists. Also, check out the links mentioned on pages 13-14 in Dr. John Cawley's guide here.

  1. What do you value most in a job?

  • type of work (e.g. research, teaching, policy)?

  • flexibility?

  • independence?

  • income?

  • location?

  1. What type of jobs in your choice set meet your values?

  2. At this point, what type of job is the best fit?