21 Apr 101 Careers In Mathematics
Mention a career in mathematics and the first jobs that come to most parents’ minds would be mathematicians and teachers. With this mindset, for children without aspirations for these positions, math as a subject becomes much less appealing. However, this is a huge misconception as many jobs actually value mathematical skills and knowledge.
In this article, we will be covering a range of different industries and individual job positions that are heavily reliant on mathematics. While looking at the various career prospects, it is important to bear in mind that beyond the understanding and application of maths formulas, the subject also imparts skills such as:
- Logical and critical thinking
- Data interpretation and problem solving
- Communication and decision making
These skills make your child highly employable in many different industries and roles.
Academia & Research
We start with the industry that parents are most familiar with – academia. Chiefly, under academia are the job positions of mathematicians and teachers.
The job of mathematician has always being about improving existing or expanding mathematical principles. By using high level mathematics and technology, they are able to develop new theories based on relationships between variables. Ultimately, this leads to the implementation of solutions for real world problems.
Notable tasks of mathematicians include:
- Developing mathematical theories based on observed phenomena
- Recognising previously unknown relationships between recognised mathematical principles
- Developing inferences derived from models with experiments
- Creation of models to resolve practical problems
It should also be noted that mathematicians often distinguish themselves as either working with theoretical mathematics or applied mathematics. Regardless, mathematicians from both fields are often involved in publishing, contributing to math journals and periodicals. Given the opportunity to make history, a career in research and academia is often highly popular among mathematics students.
Numeracy has always been a high priority of both primary and secondary education levels. If your child has aspirations of being a teacher, then maths presents a highly viable subject pathway. This is especially so if he or she shows an inclination or interest in mathematics.
The task of teaching mathematics to the next generation is highly rewarding and its importance cannot be understated. Teaching is an art form that is part gift and part grit. Often refined through years of experience, top mathematics teachers help their students to understand, appreciate and apply maths concepts with ease. In doing so, they set their young charges up for success both in academics as well as in life.
As a mathematics student interested in teaching, your child will not be limited to mathematics but may also be eligible for related fields. This includes the likes of economics, accountancy, statistics and data science.
Economics, Accountancy, Banking & Finance
Possibly the largest application of mathematics in terms of headcount would be the economics, accountancy, banking & finance sectors. Together, they make up a sizable portion of any modern economy in the world. Numerous roles in these sectors utilise math in its different forms, while also being extremely popular among students.
Economists study the production, distribution and consumptions of limited goods and services. In doing so, they study the different market forces that determine the prices of goods and services and the overall state of the economy. A role that is as theoretical as it is application based, economists are held in high regard around the world.
Many economists are employed by large financial institutions as well as by government agencies. As such, should your child pursue a career in economics, he or she will likely be in demand.
Roles such as auditor, tax accountant, forensic accountant and corporate advisors can be classified under the accounting sector. At its heart, accounting is the measurement and communication of the value of economic entities. Without accountants, we would not have accurate measurements of the profitability or long-term viability of an organization.
The importance of the role coupled with both its stability and longevity makes accounting an in-demand occupation.
Banking & Finance
Opportunities in the banking sector are highly varied and far reaching. This includes specialisations in financial market roles such as bonds, shares, privatization, lending and IPOs, as well as more application-based roles in market research, mergers & acquisitions and financial analysis.
Finance experts are highly sought after in any organization and are very well compensated for their efforts. Moreover, it is a very exciting field that reaches out to almost every aspect of our society. Whether your child prefers a more analytical role in the back or a frontline row advising clients, finance presents an excellent pathway forward.
Actuary Science & Statistics
Even outside the finance world, mathematics still has significant value in actuary science and statistics. It is even arguable that these two fields represent mathematics at some of its purest forms. While there are certainly less students who pursue these routes, the demand for professionals with their expertise remains constantly high.
Statisticians use statistical analysis to solve business, science, social science, engineering problems among others. Their job scope commonly includes the collection, analysis, interpretation and presentation of quantitative data. In this role, statisticians often take pride in their ability to derive insights that lead to viable solutions.
Actuaries study the probabilies and risks of events such as death, accidents, sickness, natural disasters and retirement. This allows them to inform clients about the financial risks attached to an individual or an entity. The specific duties of actuaries would include the compiling and analysing of statistical data related to various possible events. After which, they would need to formulate methods to mitigate the risks.
Actuaries are commonly employed by insurance, banking, healthcare and investment companies to determine the premiums or quantitative strategies to be adopted. In fact, in many global surveys, they have been rated as the best full-time jobs to have in the world.
A final field that we would be covering would be that of operations. In any process, one of the key indicators of its success is its efficiency or productivity. Ultimately, a lot of this hinges on its ability to maximise output at the lowest cost. The role of operations analysts is to study an operational process from a quantitative point of view. Subsequently, they make suggestions to help improve the aforementioned efficiency of the process.
Trust MLGS to Help Your Child with Mathematics
Maths Learning Groups was established by Mr. Lawrence Ong, who is NIE-Trained and an ex Primary School Teacher with more than 15 years of teaching experience. We aim to help weaker students to bridge the gap with better-performing students by catering to their learning pace and style in our maths tuition classes.
We strive to provide affordable tuition rates so that no student will be deprived of the opportunity to learn from NIE-Trained teachers. We specialize in offering math tuition classes for students in Primary 3 to Primary 6. Our Primary School Maths Tutor lessons help to build up a strong solid foundation in the key mathematics concepts.
Our small group maths tuition and private tuition classes in Singapore help students maximize their learning potential. This ensures that they hone strong critical thinking skills that will carry them through in their education journey.