Are you thinking of taking a degree in mathematics? Are you wondering about the mathematics degree jobs salaries that come with them? Well, rest easy because mathematics scholars make up some of the highest-paid professionals in the market.
The study of subjects such as linear and abstract algebra, calculus, differential sequences, probability, and statistics prepare individuals for top jobs that involve mathematical and numerical analysis to solve critical problems that exist in every industry and aspect of life.
Mathematicians are marketable because they are required everywhere. From complex tasks such as solving underground water pollution and maintaining national inflation by macro-economists to a simple activity like the control of traffic jams by programmers who study sequences, all areas require the expertise of a mathematician.
Having established that, let us look at a preview of the mathematics degree salaries to consider before you start your course. The following are a few of the careers that one can look forward to in applied mathematics.
Mathematics Degree Salaries in Statistics
Statisticians are mathematicians who apply statistical theory to analyze different types and amounts of data to interpret, organize and summarize it into usable information to supplement the knowledge of professionals in the business, private or public sector. The average salary of a mid-level statistician is around $78,000 per year.
Mathematics Degree Job Salaries in Actuaries
Actuarial scientists are the mathematicians who are involved with risk assessment and management in every industry. They perform complex calculations to determine likely outcomes that would influence the pricing of products in businesses, or they forecast risk and liability of certain variables in the market such as illnesses or accidents to help insurance companies create suitable risk management products concerning health and investment for the market. The average salary for actuarial scientists in the market as of 2018 was $103,470.
Data analysts are responsible for the numbers that businesses collect into simple English. It could be the costs for restocking, transportation or any fee of doing business or logistics and market research or even sales report figures. Every organization collects data that is essential for it to study the industry to make organizational decisions.
The data analyst has to break this data collected down into an easily understandable form for the company management to understand. The average data analyst in 2018 earned an annual salary of $70,960.
Acoustic consultants are mathematicians who specialize in the study of sound and vibrations. They use complex mathematical analysis to help architects design buildings or rooms with optimum sound quality and help solve problems that are related to noise and vibrations across a variety of environments. Acoustic consultants are necessary for the development of industrial buildings and factories that emit vast amounts of noise.
They are also required in the design of recording studios, theatres, bars and restaurants where sound management is a factor of significant concern. The average salary scale of an acoustic engineer is $58,200.
Insurance underwriters and fund managers help make decisions about investments and provide clients with the investment solutions that suit their needs, but they cannot offer these solutions without investment analyst examining economic trends and their impact on the investment potential.
Every investment product is carefully created after extensive research and analysis by investment analysts. They are the ones responsible for providing insurance underwriters and fund managers with the necessary information they require to develop investment products for insurance companies, banks, and other financial institutions. The average salary for an investment analyst is around $83,997.
Accountants are responsible for making capital account entries and compiling all financial transaction information for organizations. They summarize the economic status of organizations by preparing a balance sheet of the finances that leave the company in the form of resources costs and salaries, and the funds that enter the company in the way of sales with the aim of developing profit loss statements for the company to monitor its growth level over time.
Accountants are solely responsible for maintaining the financial security of the organization. Accounting is the central department of every company. The average chattered accountant earned $90,200 in 2018.
Mathematics Degree Jobs Salaries in Economist
Economists are concerned with how businesses or societies distribute the resources that are available to them. Micro-economists work in activities to help them make decisions of how they will allocate resources after considering a variety of issues like market trends, inflation, interest rates taxes, and other items.
Macro-economists are concerned with the economy of a country, considering the historical trends, inflation, and unemployment levels. They study the money and banking system and develop policies that eventually affect the financial and trade markets of a country. The average annual salary of an economist is $109,230.
Conclusion on Mathematics Degree Jobs Salaries
Having seen how lucrative the careers that a degree or a master's degree in mathematics are, it is evident that the studies are intrusive and challenging. This should not be discouraging because, with dedication and determination, everything is possible, also to our advantage, we have the internet. We can always get math help online whenever you get stuck along the way.