Top 10 Career in Mathematics in 2024

How Does a Degree in Mathematics Help?

Mathematics graduates have many options for careers including teaching as well as working in multiple disciplines. Combining mathematics with other specialist subjects such as economics, statistics, computer science, applied mathematics, engineering, and mathematical sciences can greatly improve job prospects. 

Engineers with good mathematical skills can find employment in chemical engineering and electronic engineering. Additionally, you can consider careers in business, science, social services, education, public sector undertakings, and specialized technical fields such as system design.

Career Options in Mathematics 

1. Mathematics Teacher

Average salary: Rs. 2,73,807 per year

If you love to learn and shape young minds, being a Mathematics teacher is the role for you. Guiding students and teaching mathematics can be a noble and highly satisfying role. Mathematics teachers work in schools, universities, and a couple of other institutions, where some places may require an additional BEd. degree. Other work may require a teacher to make study curricula and lessons for students and create assignments.

2. Market Research Analyst

Average salary: Rs. 2,22,068 per year

Becoming a market research analyst is one of the most fruitful careers in mathematics. As a market researcher for a company, you gather data from customers and competitors, assist in developing goals and strategies, improve your customer base, and beat your competitors. 

As a market researcher, you will also design surveys, formulate reports, track market trends, and present information to executives. As you gain experience, there are plenty of scopes for you to manage a team of researchers and evaluate strategies.

Enroll in the PG Program in Data Analytics to learn over a dozen of data analytics tools and skills, and gain access to masterclasses by Purdue faculty and IBM experts, exclusive hackathons, Ask Me Anything sessions by IBM.

3. Financial Planner

Average salary: Rs. 2,93,193 per year

Financial planners assist individuals and companies in managing their financial assets. They are also involved in assisting individuals with managing their finances. A financial planner’s primary duties may include: 

• Developing effective financial strategies for businesses and individuals. 
• Setting financial goals, assessing financial risks, and helping to ensure retirement or investment plans are among their primary duties. 
• They help companies formulate stock market investment strategies, real estate investing strategies, and new business ventures.

4. Insurance Underwriter

Average salary: Rs. 2,87,747 per year

Insurance underwriters are the ones who, on behalf of the insurance company, evaluate, analyze, and assess the possible risks associated with insuring people and assets. They use statistics and probability to forecast risks involved with financial assets. 

The insurance company then evaluates your application and chooses the best plan for you based on their evaluation. Insurance underwriters may specialize in life insurance, health insurance, or property insurance.

5. Purchasing Manager

Average salary: Rs 2,74,551 per year

A purchase manager relies on their problem-solving and analytical skills in mathematics to function effectively on a day-to-day basis. A typical day involves purchasing goods and materials for a company or to meet production and retail needs. 

Many companies specify in their job descriptions that they are looking for candidates with a mathematics degree. This position involves researching multiple suppliers, comparing costs and quality, and finding the best value for the company’s purchases. It also requires maintaining inventory and evaluating future purchasing needs.

6. Data Scientist

Average salary: Rs 8,51,643 per year

Becoming a data scientist t is another fruitful careers in mathematics. These specialists work with unstructured and unorganized data sets. They analyze the data, transform it into models, and apply analytical tools to make interpretations. 

Businesses use these interpretations to shape plans as well as formulate short-term and long-term policies. Data scientists can work in fields such as politics, healthcare, and insurance. Some roles in this field require expertise in machine learning and software engineering.

7. Statistician

Average salary: Rs 4,16,848 per year

Statisticians are experts who perform statistical analysis for business, science, and engineering issues, among other things. Their responsibilities include:

• Developing statistical theories to address business challenges 
• Evaluating the appropriate data points to consider conducting experiments, polls, and surveys to gather information
• Analyzing data and coming to conclusions. 
• In addition, statisticians write reports that explain their research processes and conclusions.

8. Operations Research Analyst

Average salary: Rs. 5,07,486 per year

Specifically, operations researchers work to make decisions, formulate policies, and solve problems by using data to help organizations create solutions for business problems. Collecting information from human and technological sources, reviewing data to determine how to address a challenge, and creating simulations to visualize how a solution will look in practice are all jobs of an operations researcher.

9. Economist

Average salary: Rs. 9,48,641 per year

The job of an economist is to collect socio-economic and financial data. They mainly use this data to:

• Assist in determining the policies that should be implemented by the government and business.
• Engaging in forecasting to assist firms in making long-term financial and investment decisions.

10. Actuaries

Average salary: Rs. 7,96,461 per year

To forecast risk, companies turn to actuaries to compute the probabilities of events such as death, sickness, accidents, natural disasters, and retirement.  Specific actuary duties include:

• Compiling and analyzing statistical data.
• Developing risk-minimization strategies.
• Writing reports describing research implications. 
• Communicating study results to their stakeholders.

11. Financial Analyst

Average salary: ₹4,13,194 per year

Financial analysts play a key role in helping companies make sound financial decisions. They dig into financial data, predicting how a company will perform and offering advice on potential investments. Their job revolves around:

• Tracking and analyzing financial data.
• Preparing reports to predict future performance.
• Building financial models to ensure stable revenue.
• Assisting clients with intelligent investment strategies.

12. Accountant

Average salary: ₹2,19,120 per year

Accountants are the backbone of any organization’s financial health. They ensure that financial records are accurate and follow the law. From preparing accounts to handling taxes, they keep the daily financial operations in check. Their responsibilities include:

• Offering financial advice,
• Auditing accounts to ensure everything’s correct,
• Managing financial reporting and taxation,
• Handling accounting systems and processes.

13. Investment Analyst

Average salary: ₹8,76,759 per year

Investment analysts help companies and individuals make smart investment choices by analyzing financial trends and performance indicators. They evaluate how investments are performing and make recommendations based on data. What they do includes:

• Tracking and reviewing financial trends,
• Monitoring how stocks and bonds perform,
• Reviewing financial statements to assess profit and loss,
• Submitting reports to guide management’s decisions.

14. Budget Analyst

Average salary: ₹7,74,449 per year

Becoming a budget analyst is another fruitful careers in mathematics. Budget analysts ensure that a company’s finances are being used efficiently. They help create budgets, evaluate financial requests, and make sure that funds are allocated wisely to meet the company’s goals. Their main tasks include:

• Reviewing budget proposals,
• Allocating funds to different departments,
• Approving or rejecting funding requests,
• Conducting cost-benefit analyses and keeping an eye on spending.

Necessary Credentials for Mathematics 

Sometimes, mathematics executives have to earn specific credentials to qualify for employment. Other times, they earn certifications voluntarily to advance in their careers. Here is a list of examples of both mandatory and voluntary credentials earned by mathematical professionals.

• Obtaining full professional status requires actuaries to complete a graduated certification process. First, they earn associate certifications before moving on to the fellowship credential. Those working in the property and casualty industry are certified through the Casualty Actuarial Society (CAS), while insurance professionals are certified through the Society of Actuaries (SOA).
• The Financial Industry Regulatory Authority (FINRA) licenses financial analysts. To become a licensed analyst, the applicant must be sponsored by their employer.
• The CFA Institute offers an optional certification for financial analysts called the Chartered Financial Analyst (CFA).

Conclusion

Even though all these jobs are thrilling if you love mathematics and enjoy solving problems, some jobs in financial services, insurance, and investment may be highly demanding and stressful. Generally, most of the above jobs are challenging and rewarding if mathematics is what you enjoy doing. However, the arduous roles often pay more than comparatively less demanding jobs. You may find the difficult work to be fulfilling and enjoyable.

For those interested in mathematics, careers in academia and research may not pay as well but are also worthwhile if you have an academic interest in the subject. These jobs usually have fixed hours and may provide a good work-life balance. You can choose a career path depending on your skill level, expertise, experience, and preferences. The type of career path you will follow will shape your life for a better tomorrow.

FAQs

1. What are the top 5 math careers?

If you love numbers, you may wish to pursue a career in mathematics as a statistician who studies data and handles trends, an engineer who designs aircraft, a financial modeler who creates the future, an engineer who designs and builds highly complicated machines, or an economist who provides insights and strategies on the economy.

2. What is the highest-paying job in math?

Out of all the math related professions, financial modeler pays the highest. Such professionals make use of their specialization to evaluate numerical data in the financial market and make forecasts concerning the market. Other well-remunerated positions include aeronautical engineers and robotics engineers, as those specialists can also boast a high salary without being certified within medicine.

3. Which government job is best for math students?

Career opportunities such as an Assistant Professor in Engineering, where they can engage in teaching and research activities, a Project Assistant, working on various projects, or a Junior Research Fellow, who is involved in some research projects, can be appealing to math students. These positions make optimum use of advanced skills in mathematics in meaningful ways.