Contrary to the conventional notion, pursuing a degree in mathematics can help you do more than just land a job as a schoolteacher or university professor. In today’s dynamic and data-driven employment landscape, mathematics aficionados have multiple opportunities in industries such as banking and finance, information technology, engineering and manufacturing, telecommunication, and logistics.
Curious to know the roles and responsibilities mathematics graduates can take up? Here are some of the interesting options you need to check out.
1. Data scientist: Over the last few years, the role of data scientist has gained prominence among mathematics enthusiasts. This role expects you to collect and handle large sheets of data, use statistical methods and visualisation tools to interpret it and generate valuable information from it, and develop new features from raw data to enhance the efficiency of predictive models. Besides, you would be working with cross-functional teams to understand business requirements and offer data solutions accordingly to drive success. While a strong foundation in statistical and analytical knowledge is imperative, developing various in-demand technical skills over time can further open new avenues of growth.
Starting salary: Rs 5,00,000-8,00,000 per annum depending on the company, location and specialisations
2. Actuary or actuarial scientist: Considering the number of unexpected risks a business has to deal with, especially in volatile market conditions, companies often require an actuary to assess and manage risks. Organisations in insurance, pension, banking, and finance industries require these professionals to analyse financial risks by calculating the potential possibilities of accidents and natural disasters, and estimating future liabilities so that they can make well-informed decisions.
For instance, actuaries in insurance and pension companies assess plans and schemes to make sure that companies meet the obligations of the claims without incurring any losses. To excel in this role, graduates need problem-solving skill, financial acumen, analytic abilities, and proficiency in areas like probability and calculus.
Starting salary: Rs 6,00,000-10,00,000 per annum
3. Statistician: These professionals are responsible for developing various methodologies for collecting data such as surveys, experiments and studies to ensure its relevance and reliability. In addition, they also clean piles of raw data to remove irrelevant information and errors. They assess data and build models to predict outcomes which further assist an organisation in forecasting trends and mitigating risks. Particularly in the fields of pharmaceutical, finance and technology, statisticians can register significant growth from the very beginning of their career journey.
Starting salary: Rs 4,00,000-7,00,000 per annum
4. Machine learning engineer: With continuous advancements in the field of technology, a machine learning engineer is a role that has been experiencing a surge in demand, and a mathematics degree can help you seamlessly make entry into this area of expertise. Along with gathering, cleaning and organising large sheets of data, you would develop machine learning models, train them, write codes, and work on algorithms to facilitate their smooth processing and deployment. Most importantly, you will have to stay updated on the latest trends in order to experiment with new algorithms and help companies innovate. Hence, an in-depth understanding of concepts related to algebra, calculus, probability, and statistics is necessary to grab this role and grow in it.
Starting salary: Rs 6,00,000-8,00,000 per annum; individuals can also get Rs 10,00,000-15,00,000 at tech giants
5. Cryptographer: With increasing dependence on the internet and devices connected to it and with more and more businesses going digital, it has become crucial to protect sensitive information from landing in the wrong hands. And this is where the role of cryptographers comes in. These experts develop cryptographic systems to secure communication, evaluate existing encryption systems and ensure they meet security standards, keep up with the latest trends in cryptography and cybersecurity, and assist organisations in taking necessary measures to protect their information.
You must possess problem-solving skills, analytical abilities, attention to detail, and a proper understanding of computer networks. With a growing emphasis on data security, the opportunities are only going to expand in this field so mathematics graduates can undoubtedly envision a career in this role.
Starting salary: Rs 6,00,000 – 8,00,000 per annum