Mathematics : Job Prospects & Career Options

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With advancement in technology mathematical applications are used in diverse areas and this necessitate more workers with knowledge of mathematics. The most common fields in which mathematicians study and find work are academics, computer science and software development, physics, engineering, and operations research. Mathematical applications are also becoming involved in financial analysis, medical research, biotechnology, weather and commodity forecasting etc. Many of the job titles of mathematicians reflect their occupation rather than knowing them by the title of mathematician.

Some of the Mathematics related careers are listed below. Among them Mathematician, statistician and actuary are the careers offering great opportunity to math candidates.

Mathematicians- A mathematician is a person whose primary area of study or research is mathematics. They solve problems, make predictions related to natural changes like weather, ocean and soil erosion, financial risk analysis, market research etc.

Statistician - Statisticians apply mathematical principles to the collection, analysis and presentation of numerical data. They anaylyse survey results, prepare and present statements of analysis on graphs, scales or other measuring devices. They forecast future possibilities through these analysis.

Financial analyst- Financial analyst or investment analyst predict the behavior of financial markets. They analyse financial information and advice on the monetary use of resources taking into account the risk factors.

Actuarial Science- Actuarial science uses mathematics and statistics to assess risk. It applies in finance and insurance fields. The job of an actuary involves analysing data to predict and calculate long-term risks regarding financial decisions and planning. They help to choose the investments based on the risk involved in it. i.e investments with more return and less risk.Actuary formulates various insurance policies and calculating the premium to be charged.

Operation Research- Operations research is an interdisciplinary branch of applied mathematics and formal science that uses advanced analytical methods such as mathematical modeling, statistical analysis, and mathematical optimization to arrive at optimal or near-optimal solutions to complex decision-making problems.It applies mathematics to draw a conclusion about the problems related with costs or profits. Operation research analyst assist management in policy formulation, establishing a finance plan, price fixation etc.

Auditor - They provide an external, independent assessment of an organisation’s finances and accounting systems.Accounting - Accountant prepare financial documents, review financial performance and plan the future.

Teaching- Teaching is a respectful job. After B.Ed, BSc Math or passing NET you can teach at school level or colleges. A Ph.D is normally required for research and academic jobs. There is also option to start coaching center or tuition classes.

Biomathematics- Biomathematics is a combination of biology and mathematics. It uses mathematical techniques and tools in natural and biological processes.

Cryptography - Cryptography is used as a branch in both mathematics and computer science. Cryptography applications are used in matters related to the security of ATM cards and computer passwords.

Banking - Banking sector deals with money matters for which knowledge of mathematics is required. In fields of lending loans, accepting deposits all these transactions need numerical ability.

Computer system analyst -They help management decide whether implementing the proposed technology would be financially feasible. Mathematicians are highly in demand in this field for their logical and precise thought process.

Software Engineers - They apply the theories and principles of computer science and mathematical analysis to create, test, analyse and evaluate the software applications and systems that make computers work.