Making sound decisions in a complex, data-infused world requires a strong math and statistics background. Increasingly, employers in business, industry, and government (“BIG”) are looking for people to solve problems involving complex systems, optimization, data, and risk analysis. A degree in Mathematical Sciences can prepare you for a wide variety of careers in BIG and the non-profit sector.
Here is a quick sample of such careers: Data Scientist, Operations Research Analyst, Economist, Cryptographer, Information Security Analyst, Actuary, International Trade Specialist, Investment Specialist, Quantitative Analyst, Real Estate Analyst, Market Research Analyst
Multiple recent studies have found that Actuarial Science is one of the best careers out there in terms of work environment, employment outlook, job security, growth potential, and salary. A 2013 CNN Money article describes it as “the best job you never thought of.” What does an actuary do? An actuary provides financial risk analysis using tools from mathematics, statistics, and finance. Most actuaries work within the insurance industry or related fields. For more information on how to prepare for this career, see our page on Actuarial Science.
Predictive analytics is an emerging high-demand field, in which people use data analysis to identify predictors of future states or trends. To prepare for a career in predictive analytics, start with a major in Applied Math with a minor in Statistics or Data Science, complement it with coursework in a field of interest such as business, economics, finance, or one of the sciences, and make sure you learn the relevant computing tools, such as R and Python.
Wall Street is now a significant employer of mathematicians and statisticians. Quantitative Analysts (“quants”) apply mathematical and statistical methods to solve financial and risk management problems for investment firms, often with the assistance of complex computer models.
Interested in cryptography or government intelligence? The US Government is one of the biggest employers of mathematicians in the world, primarily in cryptography, cryptanalysis, and security analysis. For these careers, choose the Mathematics Major and complement it with coursework in computer science, such as computer architecture, algorithm design, and programming in C, C++, Python, or Java. The US Intelligence Community offers a variety of competitive summer programs within various government agencies for college students interested in security or intelligence.
In all areas of business, industry, and government, people need to make sound decisions based on quantitative models and data. If these are the kinds of problems you want to solve, then a degree in Mathematical Sciences can get you closer to your career. Discuss your interests and career plans with your advisor in order to identify the right academic program and coursework for you.
Pictured: Jim Livsey, class of 2008, double major in Mathematics and Mathematics-Adolescence Education. Jim is now on the faculty at George Washington University and George Mason University, and he does consulting work for the US Census Bureau.