Master's in MathematicsMathematics is used throughout daily life, and the careers available with a master’s in mathematics are both challenging and financially rewarding. Employers realize that proficiency in mathematics is the foundation of the problem solving skills that they desire all of their employees to possess. Additionally, many industries rely directly on mathematics to engineer quality products and deliver services just when they are needed. People who have honed mathematical skills are prepared to succeed in nearly all career paths. Here are just some examples of the jobs that are available to those with master’s degrees in mathematics.

Actuary

Actuaries use mathematics directly to assess financial risks that are often associated with financial services and products. While many companies across all industries employ actuaries periodically to determine the financial risks associated with their portfolio of products, insurance companies are the primary employers of actuaries. These businesses are directly dependent on the evaluations of actuaries who identify financial risks of offering products like flood, automobile and home owner’s insurance. The calculations of actuaries help to make sure that insurance companies can still remain financially healthy even after they have to pay insurance claims due to multiple accidents or natural disasters. When actuaries find that the terms of certain insurance products are not advantageous to their employers, they suggest changes to the terms based on their numerical analysis, or they can create entirely new products that are suitable for the insurance companies and their clients. The field of actuarial science is self regulated with the help of professional associations that also administer actuarial science certifications to practitioners. Most insurance companies require that actuaries be certified as a condition of employment, and many of these companies pay for their employees to get certified.

Operations Research

The main goal of operations research specialists is to evaluate business operations and adjust work activities to optimize performance and reduce fixed costs. These research analysts do not rely on trial and error to make modifications to business activities which can make inefficient processes worse. Operations research analysts use mathematical formulas to determine the needed changes; their analytical formulas are also used to identify the appropriate pace to implement changes so that operations are not impaired. While operations research analysts require knowledge of a variety of disciplines to conduct their jobs, mathematics is at the heart of problem solving as it relates to business requirements to maximize profits.

College Mathematics Professor

A common reason that a mathematician decides to return to school to earn a master’s in mathematics is to prepare for a career in academia. The demand for college mathematics professors is only rivaled by the need for mathematics teachers at the K-12 grade levels, according to the Bureau of Labor Statistics. College mathematics professors build on the knowledge that students learned during their high school years, and the specific subjects taught by them are pre-calculus, trigonometry, stochastic processes and differential equations. Most part time college mathematics professors are required to have a master’s in mathematics, but mathematicians who want to teach at top tier universities usually must have doctorate degrees in mathematics.

Related Resource: Dual-Degree Program

Conclusion

As the job market becomes more competitive, mathematicians can continue to be confident that their skills are time tested, relevant and versatile. Their knowledge enables them to successfully pass many certification tests and employment exams with ease. The number of careers available with a master’s in mathematics only increases when the mathematician has also cultivated interpersonal skills.