Math Careers
How to Become a Mathematician
Are you good with numbers? Do you think in the abstract? Mathematicians explain the world using logic, statistics, equations, and models. They work for businesses, government agencies, and universities. Math careers include:
- Theoretical mathematician career: Theoretical mathematicians often teach and conduct research at universities. These mathematicians hold doctoral degrees in their field and focus is on math in its purest form.
- Applied mathematician career: Applied mathematicians use mathematical principles to solve practical problems for businesses and governments. Like theoretical mathematicians, applied mathematicians are highly educated and usually hold PhDs.
- Statistician career: Statisticians collect, analyze, and present numerical data gathered from opinion polls, testing of new medicines, television viewing surveys, and other studies. About a third of statisticians work for government agencies. Others work in scientific research, the insurance industry, and pharmaceuticals.
- Actuary career: Actuaries specialize in analyzing risk. They develop all types of insurance policies and design pension plans. To do this, they must be knowledgeable about statistics, finance, business, and government regulations.
Education and Training for the Math Career
The level of math education you need depends on the field in which you work. Theoretical and applied mathematicians usually hold PhDs. For a career in statistics, the minimum requirement is a master's degree. Entry-level actuaries usually have bachelor's degrees in mathematics, statistics, actuarial science, or a related business field.
Mathematics Career Certification and Licensing
The Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) have strict licensing requirements for actuaries. New actuaries undergo an intensive examination process during the first few years of their careers to obtain certification in their area of specialization.
Math Career Earnings
These are the median 2006 earnings for some math careers:
| Job | Salary |
|---|---|
| Mathematician | $87,000 |
| Statistician | $66,000 |
| Actuary | $83,000 |
Math Career Job Outlook
Employment for actuaries is growing rapidly, but employment growth for mathematicians and statisticians is average. Competition can be keen for mathematicians because of the small number of jobs in this area. Job opportunities are good for actuaries because the qualifying exam process limits the number of candidates who are qualified for these jobs.
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Source: Occupational Outlook Handbook, 2008-2009 Edition; Bureau of Labor Statistics, U.S. Department of Labor.