In this article, you'll find the best jobs for applied math majors. Mathematics is the universal language, and as an applied math major, you've honed your ability to decipher its intricate dialects. But what next after graduation? From the vast world of finance to the cutting-edge domain of data science, opportunities abound for those with a knack for numbers. Listed below are 11 of the best jobs for applied math majors.
- Data Scientist
- Financial Analyst
- Actuary
- Cryptographer
- Operations Research Analyst
- Statistician
- Quantitative Researcher
- Systems Engineer
- Mathematical Biologist
- Supply Chain Analyst
- Economic Consultant
Table of Contents
- 1. Data Scientist
- 2. Financial Analyst
- 3. Actuary
- 4. Cryptographer
- 5. Operations Research Analyst
- 6. Statistician
- 7. Quantitative Researcher
- 8. Systems Engineer
- 9. Mathematical Biologist
- 10. Supply Chain Analyst
- 11. Economic Consultant
- How versatile is an applied math degree?
- Can applied math majors work in non-technical roles?
1. Data Scientist
In an age of information, Data Scientists stand at the forefront, extracting meaningful patterns from vast datasets. They apply mathematical models to predict outcomes, optimize processes, and glean actionable insights.
Skills Required
- Proficiency in programming languages like Python or R
- Statistical modeling and machine learning expertise
- Data wrangling and visualization skills
- Analytical thinking
- Effective communication skills
Salary Range
Between $95,000 - $140,000 annually.
2. Financial Analyst
Financial Analysts use their mathematical prowess to evaluate investment opportunities, analyze financial data, and guide businesses in financial decision-making.
Skills Required
- Strong analytical abilities
- Knowledge of financial markets and instruments
- Proficiency in financial modeling
- Attention to detail
- Effective communication skills
Salary Range
Between $55,000 - $85,000 annually.
3. Actuary
Actuaries are the backbone of the insurance industry. They use mathematics, statistics, and financial theory to study uncertain future events, especially those related to insurance and pension programs.
Skills Required
- Expertise in probability and statistics
- Understanding of finance and economics
- Strong analytical skills
- Proficiency in actuarial software
- Effective communication skills
Salary Range
Between $60,000 - $120,000 annually.
4. Cryptographer
Cryptographers create secure communication systems, protecting information from unauthorized access and cyber threats, a critical role in today's digital age.
Skills Required
- Profound knowledge of mathematical theories and algorithms
- Programming proficiency
- Strong analytical skills
- Knowledge of cybersecurity principles
- Attention to detail
Salary Range
Between $70,000 - $110,000 annually.
5. Operations Research Analyst
These analysts tackle complex issues in business processes, using mathematical modeling and analytical techniques to optimize operations and decision-making.
Skills Required
- Strong analytical and problem-solving skills
- Familiarity with operations research techniques
- Proficiency in mathematical modeling
- Effective communication skills
- Attention to detail
Salary Range
Between $50,000 - $90,000 annually.
6. Statistician
Statisticians collect, analyze, and interpret data to solve real-world problems in various industries, from health to economics. They design surveys, experiments, and opinion polls to gather data.
Skills Required
- Mastery over statistical theories and methods
- Proficiency in statistical software such as SPSS or SAS
- Detail-oriented approach
- Strong analytical and problem-solving skills
- Good communication abilities
Salary Range
Between $60,000 - $100,000 annually.
7. Quantitative Researcher
Often employed in the finance sector, Quantitative Researchers utilize mathematical models to identify and capitalize on trading opportunities.
Skills Required
- Deep understanding of quantitative strategies
- Proficiency in programming languages, especially Python or C++
- Strong analytical abilities
- Knowledge of financial markets
- Teamwork and communication skills
Salary Range
Between $100,000 - $150,000 annually.
8. Systems Engineer
Systems Engineers design and manage complex projects across various domains, ensuring that the systems function seamlessly.
Skills Required
- Proficiency in system modeling and simulation
- Broad knowledge of engineering principles
- Problem-solving aptitude
- Ability to work in interdisciplinary teams
- Strong communication abilities
Salary Range
Between $70,000 - $110,000 annually.
9. Mathematical Biologist
Mathematical Biologists apply mathematical techniques and theories to increase the understanding of biological processes, aiding breakthroughs in fields like genetics and neuroscience.
Skills Required
- Deep understanding of mathematical modeling
- Knowledge of biological processes and systems
- Analytical thinking
- Proficiency in related software and tools
- Collaborative approach
Salary Range
Between $55,000 - $95,000 annually.
10. Supply Chain Analyst
They optimize the end-to-end supply processes in an organization, ensuring that goods are produced and delivered efficiently.
Skills Required
- Analytical and problem-solving skills
- Familiarity with supply chain logistics
- Proficiency in related software
- Strong communication skills
- Ability to work under pressure
Salary Range
Between $50,000 - $85,000 annually.
11. Economic Consultant
Economic Consultants apply mathematical models to real-world scenarios in economics, helping organizations or governments make informed decisions.
Skills Required
- Mastery over economic theories and models
- Analytical and research abilities
- Strong communication skills
- Ability to interpret complex data sets
- Detail-oriented approach
Salary Range
Between $65,000 - $120,000 annually.
How versatile is an applied math degree?
An applied math degree is highly versatile. It equips graduates with a unique skill set that's applicable in various industries, from finance to tech to healthcare, making them highly sought-after in the job market.
Is pursuing further studies beneficial for applied math majors?
Yes, pursuing further studies like a master's or Ph.D. can open up more specialized and research-oriented roles for applied math majors, enhancing career prospects.
Can applied math majors work in non-technical roles?
Absolutely! Applied math majors develop strong analytical and problem-solving skills, which are valuable in diverse roles, even outside technical domains like marketing or management.
How does applied math differ from pure math?
While both disciplines share foundational principles, applied math emphasizes practical applications, solving real-world problems. In contrast, pure math delves deeper into abstract concepts and theories without necessarily focusing on their direct applications.
