Top Careers opportunities for B.Sc Mathematics students

The field of Mathematics has abundant job roles to offer for skilled professionals. The technology today is mainly due to the advancement of the mathematics field. Since mathematics forms the basic foundation for the technology, there is a huge requirement of skilled mathematics professionals at the foundation level across different sectors of economy.

Let’s discuss some of the important and crucial job roles available in the field of Mathematics:

1. Actuarial Analyst

A career like actuarial analyst is best suited for the students who have strong mathematical ability and are good at problem solving and analysing the data.

Role of an Actuarial Analyst

As an actuarial analyst, one will use statistical formulas to assess the risk in life insurances. The role involves working out the average life expectance of different demographics and determine the policy premium for the policies taken by the customers.

Responsibility of an Actuarial Analyst

As an Actuarial Analyst one is required to:

• Understand and use complex mathematical formulas particularly that are related to areas of advanced statistics and modelling
• Use spreadsheets or other specialised software to complete data analysis tasks
• Provide technical support to a team of actuaries, producing statistical reports and analysis
• Prepare reports on the basis of computational results and publish them for internal and external communications

How much do the Actuarial Analyst earn?

• The fresh graduate of B.Sc Mathematics will earn around 4 lakhs to 6 lakhs per annum as an Actuarial Analyst.
• The experienced Actuarial Analysts will be easily earning around 6 lakhs to 8 lakhs per annum

2. Research Mathematicians

Research Mathematicians conduct original research which can be used to further develop understanding of complex numbers and applied business to improve performances and solve challenges.

Role of a Research Mathematician

The work of a research mathematician is varied. It often involves proving deep and abstract theorems, developing mathematical descriptions to explain or predict real phenomena and applying mathematical principles to identify trends in data sets.

Responsibilities of a Research Mathematician

As a research Mathematician one is needed to:

• Use specialised mathematical software such as Mathematica, MATLAB or Mathcad or programming languages such as C/C++ to develop programmes to perform mathematical functions
• Produce original mathematical research
• Identify solutions by learning and applying new methods for example designing mathematical models that interpret data in a meaningful way
• Present findings at group and departmental meetings and also to senior management
• Attend to national and international conferences and present research activities taken in the field of mathematics
• Advice clients on how to benefit from mathematical analysis
• Be updated with latest news and technologies that are related to mathematics field
• Prepare tailored solutions to business problems using innovative and existing methods as well as suggesting new ways to analyse data

How much does a Research Mathematician Earn?

• The fresh graduates of B.Sc Mathematics will be earning about 6 lakhs to 10 lakhs per annum as a Research Mathematician
• The experienced research mathematicians will be earning around 10 lakhs to 20 lakhs per annum

3. CAD Technicians

Computer-aided design (CAD) technicians use their engineering, IT and mathematical knowledge and skills to design buildings, machinery products and parts. They use their mathematical skills in drawing diagrams in order to get clean and accurate sketches.

Role of a CAD Technicians

A CAD Technician is also known as a draughtsperson in general. He/she uses CAD software to create technical drawings and plans. They usually work with architects and design engineers to understand the requirements of their initial designs and turn them into accurate and detailed technical drawings in 2D and 3D models. These drawings are used at all stages of a project until it is completed.

Responsibilities of a CAD Technician

As a CAD technician one is needed to:

• Create high-quality detailed technical drawings and plans based on designs supplied by architects and designers and make required modifications
• Use a variety of CAD software programme to create designs in 2D and 3D models
• Coordinate with architects, engineers and designers to understand their design requirements and provide technical advice to manufacturing and construction technicians
• Provide accurate, detailed and to scale drawings
• Ensure drawings are compliant with industry and health and safety standards and protocols
• Calculate costs and apply knowledge of materials and engineering principle to check feasibility of manufacture and construction of product
• Conduct site visits and surveys when required
• Prepare installation and manufacturing documentation

How much a CAD Technician will Earn?

• The fresh B.Sc Mathematics graduate will earn around 4 to 5 lakhs per annum as CAD Technician
• The experienced CAD professionals will be earning around 6 lakhs to 8 lakhs per annum

4. Statistician

The statistician is concerned with the collection, analysis, interpretation and presentation of quantitative information. The statisticians will be responsible to design and manage experiments of the surveys conducted. They are required to process and analyse the data in context, looking for patterns and come to a proper conclusion.

Role of a Statistician

The statisticians interpret the data by doing a thorough analysis of the data. They are required to design experiments, trials and surveys to produce the required data. They are responsible to make decisions based on the data obtained and help the organisation to increase its customer base. They are required to monitor the data collected throughout the shelf life. They are also required to provide projections of future developments and ventures for the company based on the data collected.

Responsibilities of a Statistician

General tasks of a Statistician are:

• Consulting with clients and agreeing what data to collect and how it should be gathered according to ethical and legislative considerations
• Designing experiments, trials or surveys to produce the required data
• Collecting and analysing the data
• Interpreting the data and making sure that the right decisions are made based on the results
• Monitoring data collected throughout its shelf life
• Presenting results to the fellow colleagues and senior management team
• Advising policy makers on key decisions based on results
• Predicting demand for products and services

How much a Statistician will Earn?

• The fresh B.Sc Mathematics graduates earn around 5 to 7 lakhs per annum as statisticians
• The experienced professionals will be earning around 8 to 10 lakhs per annum.

Final Lines

Many consider that mathematics is difficult and the career scope is minimal in the field. But in reality, this is false in nature. Every subject has its own demand in its field and lack of awareness among the masses has created a sense of insecurity in certain fields especially when it comes to job markets. The same case is in mathematics, although we know that mathematics is part and parcel of our lives and it's hard to imagine life without mathematics. Every work we do is associated with numbers, knowingly and unknowingly we use numbers in our daily lives.

Mathematics was once considered only best suited for teaching professionals. But time has changed today mathematics professionals are required in all the areas. They are required in banking, financial institutions, schools, colleges, statistic companies etc. Mathematics graduates can find lucrative job opportunities in above all the sectors.

The students who are passionate about numbers can choose to join B.Sc Mathematics course and can get an opportunity to work in excellent career roles in the industry.