Math Jobs and Finance Jobs
Mathematics is the core basis of a huge range of jobs, industries, and academic disciplines, and Math graduates have an extensive choice of career options, many of which are very well paid. The most lucrative math jobs and finance jobs are within money-related sectors, with actuaries, financial analysts, aerospace engineers, and corporate mathematicians earning salaries in excess of $100K annually. Careers in banking, accountancy, and engineering are also well paid.
Most Common Job Titles and Descriptions
Actuaries assess financial risk and advise their clients or colleagues on different ventures and projects. This role requires a comprehensive knowledge of business and economics, as well as risk analysis capability. Actuaries work in both low risk industries like insurance, property and pensions, with more high stakes roles in banking and investment. They can earn between $50,000 and $150,000 per year.
Careers in accountancy vary, but generally involve managing or investigating various financial accounts. A wide range of career progression opportunities are available, as accountants are necessary to all areas of business. More interesting career paths include forensic accounting and fraud investigation. Accountants can earn between $30,000 and $70,000 per year.
Staying within academia offers a range of career paths. Academic mathematicians generally balance research with teaching, with specialties varying widely. While academic careers tend to be lower paid, many mathematicians work both privately and as part of an academic institution, and senior positions can pay extremely well. It’s worth noting that while other STEM areas are experiencing shortages of graduates, the academic sector is generally oversupplied, making it more competitive in terms of employment and less competitive in terms of pay. Academic mathematicians can earn between $50,000 and $220,000 a year.
Statisticians gather and analyze numerical data, and work in a variety of sectors. This includes analyzing patient data and medical statistics within the health industry, analyzing data from experimental trials in the drug industry, tracking weather and environmental data for meteorology researchers, conducting in-depth market research, and providing data analysis for state and federal government bodies. Statisticians can earn between $45,000 and $115,000 a year.
Salary Statistics and Growth
Math-related careers generally pay well, with salaries in many senior roles topping $100K. Salaries for statisticians start around $50K, actuaries start at around $70K, but can top $150K, and accountants earn between $40K and $60K. Professors of Mathematics generally earn between $70K and $200K depending on school and academic experience, while lecturers earn anywhere between $45K and $80K.
Job Field Growth or Decline
Mathematics is growing significantly faster than most other occupations, and the employment of people in math-related jobs is projected to grow 23% between 2012 and 2022. This is partly due to the fast growth of the information technology sector and the increasing need for businesses to analyze data, and partly due to localized shortages in STEM graduates in the government and private sector. It is predicted that, at current rates, the US could see a shortage of up to a million STEM graduates over the next ten years.
Best Cities for Math Jobs and Finance Jobs
With many government, biotech, healthcare and STEMS opportunities, Washington DC is a great place for math jobs.
San Francisco, California
Another Silicone Valley city, San Francisco is host to many technology companies requiring skilled math professionals including Google, Facebook, Twitter, and many others. There are also a lot of finance jobs available at major banks such as Wells Fargo.
San Jose, California
With huge tech firms like Adobe and Intel calling San Jose home, this Silicone Valley city has high demand for math graduates in IT and healthcare industries.
Home to MIT and Harvard, Boston is an educational center worth looking at for academic math jobs.
Ann Arbor, Michigan
Ann Arbor has many opportunities for math graduates, both academic and commercial. With biomedical, automotive, and manufacturing industries based in the city, Ann Arbor offers a range of possible opportunities.
Job Certifications, Training, Education Requirements
Math is a highly academic profession, with most roles requiring at least an undergraduate degree. Many more specialized industries and professions will require further training.
Where Can I Go From Here?
Math is the foundation of a wide range of careers, within science and technology, healthcare, government and military bodies, engineering, and more. Successful math graduates can opt to specialize in many different areas, some of which will require further programs of study.
Top 10 US Employers in This Field
- Boston Consulting Group
- Edward Jones
- U.S. Government
- State Farm Insurance
- McKinsey & Company
By Staff Writer, SimplyJobs