Gauri Chhabra
One subject that is synonymous with the pendulum of love-hate with each emotion swinging to the extreme is the dear old’ Mathematics’. Over the years, we have loved it, extolled it to the skies and hated it to the core. Love it or hate it, Maths is here to stay and open a glut of career opportunities for you. Thanks to the growing importance placed on technology, big data and economic efficiency by all kinds of organizations, expert number crunchers are increasingly in demand.
Mathematics- a way of life.
Maths is more than just number crunching. It is a way of thinking that goes beyond a specific learned skill that inculcates other tangential skills like problem-solving and numerical skills that are highly sought after in many different areas of employment and are amongst the highest paid.
Course Cursor:
After XII
*B.Sc. – Regular 3-year course (Maths)
* B.Sc. (Hons) – 4 year course
* B.Sc. (Actuarial Science)
Integrated Course:
* 4 year B.S. and 1 year M.S programme
* 5-year Integrated MSc programme (both offered by IISc)
Besides, the following institutions offer 5-year integrated programme:
* IITs
* IISERs
* NISER
* Central University-Hyderabad
* Central University-Pondicherry
Career Pathways:
With a penchant for Mathematics,you can be exposed to a whole gamut of opportunities in some of the following fields:
Actuarial Science:
You can apply mathematics, especially probability and statistics, based on calculus 1,2, and 3. to the insurance industry. And become an Actuary. Actuaries are experts in analyzing the financial impact of the events of tomorrow. They use past data, analyze the risk and uncertainty of the future and then prepare models to project future impact. The results are then communicated to related agencies. They provide recommendations on insurance rates.
As an actuary, you would be required to study types of data such as accident, mortality, disability, sickness, and retirement rates. Based on your analysis, you would create probability tables to forecast liability and risk for payment of future benefits and thereby ascertain rates needed and cash reserves required to ensure payment of future benefits.
Cryptography:
Cryptography is the art of writing or solving ciphers. The process of encrypting and decrypting is governed by mathematical algorithms.
As a Cryptographer, you would analyze and decipher encryption systems designed to transmit military, political, and law enforcement information.Not just for spies anymore, cryptography applications include the security of ATM cards and computer passwords.
You would be using the branch of Mathematics called Modular Arithmetic, a part of number theory. Thus, it is like taking Maths a step further- which involves using the math in secure ways and combines both mathematics and computer science.
Operations Research.
Operational Research is the science of improving efficiency and making better decisions. In an operational research career you will be able to use your advanced mathematical and statistical knowledge to improve the operations of organizations. It is an interdisciplinary branch of applied mathematics and formal science that uses advanced analytical methods such as mathematical modeling, statistical analysis, and mathematical optimization to arrive at optimal or near-optimal solutions to complex decision-making problems.
As an Operations research analyst, you would formulate and apply mathematical modeling methods to develop and interpret information that assists management with policy formulation and other managerial functions. You would also be required to team it up with strong quantitative and computer skills besides advanced knowledge in mathematics. Your job would require you to track and analyze the performance of the business using core data. After this is done, you would give recommendations and opinions regarding how the performance, efficiency or effectiveness of the business operations can be improved.If massive spreadsheets, millions of numbers, complicated formulas, creating business models, system implementation, exhaustive conclusions and reporting to key executives tickles your fancy, go for it by taking up an MBA in core Finance.
Banking
Opportunities in banking range from the world of retail banking to corporate investment banking. Both deal with financial assessment, public and private,with opportunities to specialize in areas such as mergers and acquisitions, bonds and shares, privatization, lending and IPOs
Maths career in banking is very lucrative. However, professional qualifications in finance will be required.You could choose from the wide range of opportunities like accountant, customer service, front desk, cash handling, account opening, mortgage loan underwriter, loan processing officer, back end operations, product marketing and sales executive, recovery officer, retail asset manager, and property appraiser. Depending on the kind of job you take up, your duties can include market research, creating new business opportunities, and developing financial models and solutions to present to clients.
Environment and Human Health:
The increasing awareness of environmental and human health and the booming pharmaceutical business issues has increased the demand for a new class- the biostatisticians. Biostatisticians apply statistical theory and mathematical principles to epidemiology, research medicine, environmental science, public health, and other subjects. They design studies, gather data, and evaluate the data to address health concerns. Biostatisticians in the pharmaceutical industry perform research and clinical trials for new treatments and medical technologies.
Many biostatisticians have a bachelors’ degree in statistics or math. Biostatisticians with advanced degrees have excellent career opportunities in government agencies, industry, and academia. They work in a variety of human health and environmental fields.
Climatology:
Climatologists need a strong background in the sciences including meteorology, atmospheric science, physics, mathematics, and computer programming. A master’s degree, or preferably a Ph.D., in atmospheric science is necessary for a successful career. However, you need not pursue atmospheric science at undergraduate level. You may study other disciplines including mathematics, physics, and engineering.
Academia and research:
While it’s now clearly understood that careers in math go far beyond the realms of academia and research, these sectors are still very popular among mathematics students. This route may appeal to those who want the challenge of driving forward the next series of discoveries, theories and applications of the field – as well as the prestige of following some of history’s greatest mathematical minds.
Academic and research-based careers in math can be incredibly wide-ranging, and will depend on what area you wish to specialize in. While many are based within university departments, long-term academics are also often involved in publishing, contributing to journals and specialist periodicals, or helping to produce complete publications.
You can also weave your numbers magic in careers like intelligence analysis, logistics, financial analysis, market research,management consultancy, IT, computer programming, the public sector in advisory capacity as a scientist or statistician in organizations likeISRO (The Indian Space Research Organization), DRDO (Defence Researchand Development Organization), NAL (National Aeronautics Limited), Society for Electronic Transaction and Security (SETS)and scientific research
Summing up:
If none of these “typical” jobsappeal to you, then don’t panic. There is a wide surface areas of diverserealm of “alternative” careers in conservation and the environment, voluntary organizations, and so-called “ethical” careers. These would involve a different style of work, such as freelance or working from home, or a different type of work, such as corporate fundraising for a charity, or working for an “unconventional” employer, such as performing statistical analyses. Ethical employers are those that are less profit-motivated, such as charities, rehabilitation centers, environmental or humanitarian organizations.There are also enormous opportunities for someone who has the logical reasoning and numeracy of a mathematician and also the ability to communicate clearly. You might like to think about a job in science journalism, technical editing, or marketing communications.
If you are a numbers whizz, the options are innumerable… get up and get going…
For queries contact gauri_nagpal @yahoo.com
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