If you love crunching numbers and doing complicated calculations, there’s good news on the job front for you. Math graduates are in great demand across all industries, so you’ll never have to worry about getting employed. What’s more, there are several interesting and high-paying careers for math majors, so you’ll get paid generously for doing something you love. These are some of the many majors and careers for someone who likes math.
10 Best Careers for Math Majors with Tremendous Potential:
Actuaries use their expertise in mathematics, data, and statistics to help insurance companies speculate risk potential and reduce risk exposure. Additionally, they perform exhaustive data analysis to determine the likelihood of an adverse event occurring and its potential cost. Based on this, they help insurance companies develop policies to minimize the risk of that event. Financial and risk analyses, pricing, and financial modeling are some of the skills you need for this career.
Actuaries are employed in the finance, insurance, banking, and healthcare industries. An actuarial certification is a mandatory requirement to practicing as an actuary.
Statisticians are responsible for gathering, interpreting, and analyzing data to identify trends and solve problems. They also develop effective methods for collecting the necessary data such as questionnaires or phone surveys and draw conclusions based on the information collected. This is presented to the employer in a format that is easy to understand and implement.
Statisticians are employed by government agencies, insurance firms, media companies, research institutes, and sports or even agricultural organizations. Most higher-level statistician jobs require a master’s degree though a bachelor’s degree will get you in the door.
3. Investment analyst
Investment analysts spend their day following the ups and downs of financial markets. These experts’ study economic trends, track and review financial data, and monitor the performance of company stocks and bonds. They use their findings to evaluate investment opportunities and advice corporations on what opportunities are worth investing in.
Investment analysts may be employed by securities organizations, banks, and insurance companies. You need two fundamental skills to be successful in this field. One is the ability to calculate and evaluate the value of various investments. The second is the ability to communicate your findings clearly in written reports. A license from the Financial Industry Regulatory Authority (FINRA) is a mandatory requirement to practice as an investment analyst.
An accountant’s main responsibilities include keeping financial records up to date, balancing a company’s books, and preparing tax returns. They also ensure that the organization complies with all legalities and financial regulations. A career in accountancy is very versatile, encompassing roles such as tax accountant, corporate advisor, management account, auditor, or forensic accountant. Although each one involves different responsibilities, they all require the same basic skills and expertise.
Private and public organizations of all sizes employ accountants to ensure that they aren’t inadvertently flouting any financial rules or regulations. You can get started at an entry-level position with a bachelor’s degree and gain professional certification and experience to advance in your career.
5. Financial planner
Financial planners help companies, as well as individuals, manage their investments and financial assets. They use their expertise to develop personalized financial strategies that help each client meet their short- and long-term financial goals. This involves assessing financial risks, evaluating investment potential, and assisting with retirement plans. Financial planners employed by businesses also help with assessing new business ventures and making decisions on real estate or stock market investments.
Public and private companies as well as individuals and families hire financial planners. A bachelor’s degree is enough to get started but you must be able to demonstrate your skills, expertise, and trustworthiness.
6. Insurance underwriter
Insurance underwriters generally work with insurance companies. They are responsible for analyzing and evaluating the risks of insuring potential clients’ homes, vehicles, or businesses. Based on their risk assessment, insurance companies decide whether or not you’re eligible for insurance. They also use the data to calculate how much to charge as premium.
You can get started as an insurance underwriter with a bachelor’s degree. Obtaining certification will help you advance in your career. Insurance underwriters typically specialize in health, life or property insurance.
7. Budget analyst
Budget analysts review and evaluate budget proposals and determine how they could potentially impact an organization’s finances. As part of their responsibilities, they calculate cost-benefit analyses that help organizations plan better budgets. They also make recommendations for more efficient allocation of funding among different programs. And they closely monitor how the allocated funds are spent by the different departments
Budget analysts are usually hired by large companies with multiple departments such as government organizations, academic institutions, and manufacturing companies.
8. Inventory control specialist
Inventory control specialists are hired by manufacturing and merchandising companies. Their primary responsibility involves making sure that sufficient stock is available without having surplus that occupies space in the warehouse. Insufficient stock and excess stock can both block money from flowing.
Inventory control specialists must have strong analytical skills. They must be able to put policies and procedures in place to maintain appropriate levels of inventory. A bachelor’s degree is sufficient to get hired as an inventory control specialist. You must also be able to demonstrate your expertise to get hired.
Economists spend hours studying markets to gather financial and socio-economic data. They use this data to help businesses make long term financial and investment plans. Governmental as well as independent organizations use the information collected to establish effective policy matters.
Economists work in a wide range of environments. Many are employed by various governmental departments to analyze and assess issues related to employment and taxes. Some are employed by private corporations to monitor market conditions and make recommendations to boost profits.
10. Market researcher
Market researchers are responsible for monitoring marketing trends, designing customized surveys, and building reports. The data is information and presented the hiring company, which uses the data to develop stronger strategies and goals, boost their customer base, and outperform their competition.
Market researchers may be employed by a wide range of companies across several industries.