Career with Mathematics

Mathematics is a subject that has uses and applications in most career fields ranging from technology to medicine. Candidates who specialise in maths degree and associated subjects like statistics often have high demand in the job market. If you have an interest in this subject, you may benefit from knowing more about the career paths you can choose with a formal academic background in mathematics
Most employers may consider those who use mathematics and statistics to solve complex problems as highly skilled. If you are a skilled mathematician, you can pursue several high paying jobs across the world in many industries. Some popular career fields for mathematics include banking, academia, business, research, analytics, insurance companies, financial services and consulting.
With a mathematics degree, you can prepare for a teaching role or choose to work in multiple fields. If you combine mathematics with speciality subjects like economics, statistics, computer science, applied mathematics, engineering and mathematical science, you can greatly improve your job prospects. Engineers with good mathematical skills can look at chemical engineering and electronics engineering jobs that require a good understanding of the subject. You can also pursue career options in business, science, social service, education, public sector undertaking and specified technical fields like system design, artificial intelligence or risk analysis.
There are some math career you may consider pursuing with a mathematics degree.
(i) Market researcher, the primary duties are to gather customer and competition for companies. Companies use this information to develop goals and strategies, improve their customer base and outperform their competitors. Market researchers also design surveys, build reports, track market trends and present all relevant information to executives who are in charge of making decisions. National average salary of this profession is Rs,4,47,600 per year.
(ii) Mathematics Teacher, can work in schools, colleges and universities based on their qualifications, experience and expertise. Apart from teaching various branches of mathematical science, their duties include preparing lesson plans, assigning homework and training students for common examinations. National average salary is Rs.2,74,497 per year.
(iii) Purchasing manager, use their problem-solving and analytical skills in mathematics on a day-to-day basis. Their main responsibilities include buying goods and material either for the use of a company or for production or retail. Purchasing managers research multiple suppliers, compare costs and quality and look for the best value for their company purchase. Maintaining inventory and assessing future purchasing requirements are also part of this job. National average salary for this job is Rs5,23,667 per year.
(iv) Insurance Underwriter, are the ones who evaluate, analyse and assess risk on behalf of the insurance company. They use their knowledge of probability and statistics to determine the risk involved while insuring people and assets. The insurance company then decides if you are eligible for insurance and chooses the best plan for you based on their evaluation. Insurance Underwriters may specialise in life insurance, health insurance or property insurance. National average salary of this job is Rs.5,57,885 per year.
(v) Financial Planner, helps people and companies, manage their financial assets. They are capable of developing effective financial strategies for the same. Setting financial goals assessing financial risks and helping with retirement or investment plans are some of their primary responsibilities. They also help companies make decisions regarding stock market investments, real estate investments and new business venture. National average salary for this profession is Rs.3,78,065 per year.
(vi) Investment Analyst, track and review financial data and trends to advise companies on how to make investment. They also monitor how company stocks and bonds perform. They may review accounts and financial statements of companies to evaluate profit and loss. They also submit periodic reports to the management to help make better decisions for business development. National average salary of this job is Rs8,76,759 per year.
(vii) Statistician, most private and public sector undertakings require the service of this group of people to collate and compare data. Census boards, healthcare, government, media, agriculture, insurance and ecology are some domain where staticians find employment. They gather information and interpret and analyse data to present inferences in a format that is easy to understand. They also design questionnaires and data collection survey. National average salary of this profession is Rs.4,39,074 per year.
(viii) Financial Analyst, tracks a company’s financial information and prepares reports to forecast financial performance for a particular period. This helps the company to understand they are heading towards profit or loss and identify areas for improvement. Analysts build financial model that helps companies maintain stable revenue and productivity over time. They may also help clients and companies with investment plans. National average salary of this job is Rs.4,13,194 per year.
(ix) Data Analyst, use many statistical tools and mathematical model that help professional to interpret data. With the help of these tools companies understand their performance. They identify trends in customer behaviour, sales pattern, productivity levels and other relevant areas in a company’s functioning. They also generate reports from such analysis and present them to the management in ways that they can easily understand. National average salary of this job is Rs,4,61,737 per year.
(x) Operation Research Analyst, work behind the scene and enable the smooth operation of business. They use mathematical techniques to evaluate and improve business operations and strategies. They study functional aspects like logistics and allocation of resources. Their role is integral in optimising transportation, supply chain management, manufacturing, distribution, inventory management, scheduling and retail. National average salary of this job is Rs.3,69,547 per year.
(xi) Actuary, you can become one such profession after gaining some years of experience in risk analysis. Actuaries solve complex problems to calculate risks for companies. They use the knowledge of mathematics, business and data to solve financial problems systematically. Actuaries may work in domain like insurance, finance, banking and healthcare. They help develop policies for companies by speculating risks and unforeseen events. National average salary of such a profession is Rs.8,47,929 per year.
(xii) Data Scientists, work with unorganised and unstructured data volumes. They analyse data, process it using analytical tools and convert the data into models for interpretation. Businesses make use of such interpretation to create plans and formulate short- term and long-term policies. Data scientists can work in fields like politics, healthcare, insurance and finance. Some job roles in this domain may require expertise in machine learning and software programming. national average salary of this job is Rs.8,28,590 per year.
(xiii) Economist, study markets to collect socio-economic and financial data. They use this information to advise government or independent businesses to help decide on various policy matters. They also forecasting to help businesses make long-term financial and investment plans.
(xiv) Mathematician, are experts in building algorithms and theories in the field of applied mathematics, these theories and algorithms are used for day-to-day problem-solving. Their services may be required in fields like business, technology, astronomy, ecology, defence, healthcare and finance. National average salary of a mathematician is Rs.25,00,000 per year.
All the above jobs are fulfilling, if you love mathematics and enjoy solving problems. While most jobs are challenging, some jobs in financial services, insurance and investment may involve huge risks and should be stressful. However, these high-risk job roles tend to pay more compared to other jobs with lower professional risks and you may find that the challenging work is rewarding. You can choose a career path based on your level of skill, expertise, experience and preference.
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