Mathematics is the pinnacle of all the other subjects, without which, it would be difficult for our lovely world to move or even crawl. The practical applications of mathematics cover a variety of professions and business fields, that only a fool can underestimate the power and importance of such a mammoth subject. Due to such a widespread presence, every year. thousands of young graduates pursue a major in this coveted field. Options are plenty and abound for young mathematics professionals, as listed and explained below.
Best Fifteen Jobs For Math Majors
Mathematics is all about numbers and so does accounting. It is no wonder that mathematicians can be expert and skillful accountants, having an extended ability to handle financial data with ease and adroitness. The primary role of an accountant is:
- Collect and account for all the vouchers, sale invoices, purchase bills, and other receipts of the organization
- Enter the financial transactions that can be measured in monetary terms into the accounting system followed by the organization
- Prepare the financial statements of the organization by indulging in expert mathematical calculations
- Present the financial statements prepared to the management and board of directors for further analysis
2) Senior Mathematics Teacher
Teaching is one of the oldest professions, still existing in this world. Teachers in a general society command huge respect and recognition, not from the general members of a society but also from the politicians, celebrities, and other persons of fame and importance. Every celebrated person in this world was once a student and was once mentored by a great teacher.
Mathematics serves as the basis for human existence and becoming a mathematics teacher at any educational institution is not at all a bad choice. You will only get a chance to put on display your academic skills but would also get an opportunity to shape the future of some of the youngest and brightest lads.
3) Sales Forecasting Officer
For business organizations, both trading as well as manufacturing, it is all about sales. A large part of their focus, commitment, time, and energy is spent on enhancing as well as forecasting their future sales, so that appropriate plans can be made. As we all know, forecasting is simply a practical application of math, which involves extensive use of mathematical calculations, logic, and assumptions, a mathematician is tailor-made to become a sales forecasting officer. The relevance of this job lies in the fact that without proper forecasting, even the most profitable organization in this world would soon falter and become a victim of mismanagement.
4) Wealth Manager
People work throughout their life and tend to save a lot of money until their retirement. This corpus of funds generated by them needs to be invested in some financial schemes so that they generate a regular return or income. Not being an expert in investing, they often take the services of a wealth manager. There are hundreds of thousands of financial products available in the market nowadays which must be carefully analyzed on the basis if returns and safety that they generate.
A mathematician, being an expert in performing calculations, can easily judge, choose and then suggest the perfect financial scheme to its clients. This role not only involves a high level of responsibility but also commands an exceptional level of focus and determination. Analyzing several schemes in a short period of time is not easy, but do not worry you will be compensated handsomely for doing so.
5) Project Cost Estimator
Business houses undertake several projects both offsite as well as on-site. Each and every project must be thoroughly evaluated so as to determine an appropriate and relevant costing estimate. This requires excellent mathematical knowledge and grip on the common mathematical models. A person with a math major can perform such tasks with relative ease and perfection.
Everything in this world is recorded and estimates are prepared. The role of a statistician is to organize the collected data in a meaningful order. The numerical data, charts and graphs that a statistician has to handle and work with, are most commonly the tasks that are better performed by people having a math major. Thus, it is no wonder, that a fairly high percentage of statisticians have been mathematicians.
7) Investment Banker
Business organizations across the world are often in need of capital for various purposes. In order to facilitate a smooth fundraising exercise, these corporates often reach out to an investment banking corporation, which is often in touch with several private equity firms and investors. willing to invest in business organizations. In order to get a perfect investment deal, a business house must be thoroughly evaluated and its net worth needs to be calculated along with some other financial calculations. A mathematician, working as an investment banker can gain and work with dexterity, due to his or her math background, which could prove beneficial in evaluating an entire corporation.
8) Variance Analyst
In a business world, money is supreme and everything revolves around it. It is common for business organizations operating across the world to prepare budgets for almost every business function. For example, a budget for raw materials, a budget for fixed assets, a budget for direct labor, etc. Post preparation of a budget, sometimes, practically, this budget is crossed and surpassed.
Such an act leads to an additional burden on the company’s finances and thus it is necessary to analyze the possible reasons for variance. A mathematician is skillful enough to analyze such variances from the normal, post which responsibilities could be fixed.
9) Financial Analyst
It is common for business organizations operating across the world to prepare their financial statements so as to determine the profitability and liquidity position of the organization. The financial statements, usually comprising of cash flow statements, income statements, and balance sheets must be analyzed and understood extensively so as to frame an opinion or draw any conclusion.
Since typically the financial statements of any organization involve numbers, or we must say, a lot of numbers, a mathematician is well equipped and perfectly positioned to interpret the financial statements of the organization.
10) Stock Market Expert
In addition to some advanced mathematical skills, if you have even the most basic knowledge of how a stock market operates or works, then no look no further and choose this job option. With the introduction of digital stock marketing platforms, there has been a consequential and manifold increase in the number of people taking part in stock market operations.
A stock typically follows a set pattern in which it is bound to increase or decrease, which can be understood effectively using mathematical calculations and models. Being a mathematician, you can pretty easily, judge the future price movements of a stock.
11) Insurance Underwriter
There are several insurance companies operating in this world, no wonder some are even more than a decade old. Insurance companies usually take premiums so as to provide life cover as well as annuities or pensions. It is often said that making calculations similar to that of an insurance company, is a task that commands expert mathematical knowledge.
Setting what premiums, annual or periodic receipts that a company must take so as to function effectively and smoothly, are all decided by an insurance underwriter. A person with a math major is often preferred for this highly technical role commanding huge salaries and fat paychecks.
Banking is all about performing calculations. Your customers might sometimes want you to deposit money for them, or simply ask you to calculate the return they will be fetched through the investments made by them into the financial products of the organization. A mathematician is an expert in performing quick calculations and adorable analyses are perfectly suited and tailor-made for becoming a banker at any reputed banking company. The scope of earning huge salaries is fairly high, although, like all the other careers, you will start with a lesser salary, which will keep mounting as you gain experience.
13) Diversification Manager
Business houses, no matter how successful they are in performing their current business operations, are often on a buying spree. They usually venture into new lines of business and diversify their business, by usually acquiring target companies. Such target companies must be thoroughly analyzed and their financial statements must be thoroughly interpreted, using various financial as well as accounting ratios. A mathematician is well equipped to perform some factual and meaningful calculations, in order to analyze the business of the target company as a whole.
14) Database Analyst
Data is of utmost importance in this digital world. Not only it helps an organization to perform in a calibrated and thoughtful manner but also helps them to frame policies and proposals. A mathematician, with extensive knowledge of the various logarithms, trigonometry, and integration, can analyze and thereafter interpret a set of data with mastery. This is an important business position in any organization and commands a higher salary and lucrative benefits. In this field, you would mostly be crunching numbers and writing conclusions and interpretations.
15) Private Tuition Teacher
If regular jobs are not your cup of tea and you prefer students and school or college curriculums then becoming a private tuition teacher is an excellent option for you. There is no better way to flaunt your advanced mathematical skills than to educate a young student. Moreover, the best part is, you are not under any obligation to move to a particular office or commute daily. You can choose your working hours and earn a handsome hourly pay by imparting your exceptional mathematical knowledge. Initially, it might be hard to find students, but once you get them, and you are able to get some satisfactory results, business would come to you on its own.