Education

What Jobs Use Calculus

By Kenneth Tester Kenneth is a Data Analyst expert that has worked on a variety of finance and insurance related publications throughout his career. He has collected and compiled data that propelled the pieces he has collaborated on onto the pages of major media outlets and education sites. 11 minute read

The oldest science on Earth is mathematics. According to notched bones found in Africa that date back between 35,000 and 20,000 years, human beings began thinking about numbers at least 35,000 years ago. 

Sexagesimal, or base 60, numerals were used by the Sumerians and Babylonians, who were able to count using the twelve knuckles of one hand and the five fingers of the other hand. 

This was followed by the mythical 6th-century BC Samoan physicist and mathematician Pythagoras, whose name has come to be linked with Greek mathematics’ inception.

In much of Europe, Roman numerals dominated trade and governance for more than a millennium by the middle of the 1st century BCE. 

During the 16th century, Sir Isaac Newton developed a new method of mathematics called infinitesimal calculus, which revolutionized the field of mathematics.

General relativity was the first time Albert Einstein employed differential geometry in a significant way.

When it comes to today’s communications, transportation, research, and engineering as well as manufacturing as well as security in the 21st century, arithmetic plays an important role. 

Furthermore, it has been crucial in the recent creation of the human genome as well as in the development of medical imaging as well as in the diagnostic and information technology in animation. 

As a result, it’s not only math or that subject in middle school that most pupils detested. As Stephen Hawking at the famous University of Cambridge from 1979 to 2009 showed, a career in mathematics may be lucrative and even lead to the title of professor.

Scientists in the field of data

The “Sexiest Job of the 21st Century,” according to the Harvard Business Review, is that of a Data Scientist. What’s with the sexy label?

General Electric, for instance, uses data science to improve service contracts and maintenance intervals for industrial equipment, as one example. 

In order to improve its search and ad-serving algorithms, Google employs data scientists. This well-known Netflix Prize was founded by Netflix to reward the data science team that came up with the most innovative method of enhancing its movie recommendation algorithm. 

The demand for data scientists has spread beyond the realm of huge digital corporations to smaller ones like Nieman Marcus, Walmart, Clorox, and Thomson Reuters, among others.

As a result, a data scientist is a step up from a business or data analyst position. The formal education is the same, with a strong foundation in computer science and applications, modeling, statistics, analytics, and mathematics being the most common subjects covered in depth.

It is the capacity to convey insights to business and IT executives in a way that can have an impact on how an organization addresses a business problem that sets the data scientist distinct. 

As a data scientist, you must have a fundamental grasp of statistics. If you’re a data-driven firm and your product isn’t data-focused, statistics are critical.

If you want to work as a data scientist, you should be familiar with the fundamentals of multivariable calculus and linear algebra, as they are the building blocks of many data-mashing methods.

Education. Bachelor of Science 

Median Salary. $97,000

Analytical Quantitative

To price and trade securities, financial organizations rely on the work of quantitative analysts, sometimes known as “Quants.” They develop and apply complicated models.

Most of them work for investment banks and hedge funds; other organizations that use their services include commercial banks, insurance companies, and management consultancies. 

Systematic trading, financial research, risk management, option pricing, and quantitative programming are just a few examples of job responsibilities.

The majority of quantitative analysis employment may be found in large financial hubs, where trading is a big activity.

This would include New York City and Chicago, as well as regions where hedge funds congregate, such as Boston and Stamford in the United States As a hedge fund or other trading firm’s profits rise, so does remuneration for those who work for them.

In order to land a quant position, you’ll need a Ph.D. in a math-related field like physics, engineering, or computer science.

Probability, stochastic calculus, statistical analysis, and machine learning are all highly sought-after fields of study. The key advantage of a Ph.D. program is that your employer will know that you are capable of doing your own study. 

A Master’s degree in Mathematical Finance can also lead to a career in financial engineering. Masters in Money and Finance (MMF) or a Master of Financial Engineering (MFE) are common titles for these degrees (MMF). People who have a natural aptitude for arithmetic but lack financial expertise should take these courses. 

In order to work in the quant world, you’ll need to be proficient in calculus, algebra, probability theory, and statistics.

Education. Minimum Bachelor’s degree in a math discipline, Computer science, engineering, or statistical analysis

Median Salary. $88,000

Professor of Mathematics

As a future college math professor, you’ll have the opportunity to work with students of different levels and majors.

Pre-calculus, calculus, and other standardized math courses are among the first to be offered to students at the college level. You might also instruct students in the fundamentals of statistics or actuarial science.

Mathematical science professorships are quite prevalent career paths. Math or mathematical science is an excellent undergraduate degree to pursue if you want to teach college math. 

Linear and abstract algebra, geometry, and computer science are just a few of the subjects you might study. A master’s or doctorate degree in mathematical science or a related area is required to teach at the college level. Enrollment in mathematical science doctoral programs is notoriously difficult.

For Assistant Professor in Mathematics positions, a Ph.D. from an authorized university must be obtained. Higheredjobs.com stated in a September 2015 posting that candidates involved in teaching and research in applied mathematics will be given priority. 

A high school diploma or GED may be required for some college positions that call for prior teaching experience. This level of instruction may necessitate a long-term research program with the possibility of attracting external research funding.

Education. Doctorate degree in Mathematics/Specialty thereof

Median Salary. $88,000

Treasurer

When it comes to budgeting, the treasurer is the person in charge of overseeing both the long-term and short-term goals of a company or organization. As a favored word in the corporate business sector, “financial officer” can also be used to describe a treasurer. 

To help a company or organization grow, treasurers might devote more of their time to activities such as obtaining financing, arranging mergers, and selecting which firms to purchase. 

Financial predictions prepared by treasurers working for a major insurance firm would take a significant amount of their time since it would involve analyzing previous and expected financial activity reports. 

Finance departments in major organizations often employ several hundred people who are all subject to the supervision of the chief financial officer.

Treasurers and other financial managers are responsible for keeping track of an organization’s money, and this requires some arithmetic skills on their part. 

Short-term and long-term budgeting, investments, and asset management might all fall within your purview as a financial manager.

Accounting and finance degrees from a top university are preferred by many high-level organizations when hiring entry-level treasurers. 

It is common for financial managers to continue their education with a Master of Business Administration or a Master of Science in Finance, accounting, economics, or a related discipline.

Education. Bachelor’s degree in business with a focus on statistics, accounting, and economics

Median Salary. $88,862

Actuary

The Society of Actuaries (SOA) defines an actuary as a business expert who specializes in assessing the financial impact of potential risks and opportunities.

Calculations, statistics, and financial theory are used by actuaries to analyze future occurrences, particularly those that may affect insurance and pension schemes. 

They assess the possibility of these occurrences and devise innovative methods for minimizing both the chance of and the effect of any negative events that do occur.

Insurance companies, consulting firms, governments, big enterprises’ employee benefits departments, healthcare facilities, banks, and investment firms all employ actuaries, as well as a variety of other organizations with a need to manage financial risk. 

Mathematicians who work as actuaries can better be regarded as a business rather than technical mathematicians. Applicant attributes sought include a strong foundation in mathematics and statistics as well as courses in business or the liberal arts.

Many math and statistics courses are required of actuarial science students, in addition to actuarial topics and some courses in business management.

Taking economics, computer science, or writing and communication courses will help you succeed in the field of actuarial science. 

Before one can call themselves an “Actuary,” they must first have a bachelor’s degree in accounting or finance. In order to become an Associate and then a Fellow of a professional society, you must pass a series of exams that the society administers. 

Actuaries who work in life and health insurance, employee benefits, and pensions belong to the Society of Actuaries (SOA), which is the largest professional organization.

Casualty actuaries are represented by the Casualty Actuarial Society (CAS), which is a professional association.

Education. Minimum Bachelor of Science in Actuarial Science

Median Salary. $85,000

Mathematician

Mathematical reasoning has its roots in the notion of number, size, and shape. To create new mathematical principles, decipher the connections between established principles, and find solutions to real-world issues, mathematicians nowadays rely on sophisticated mathematics and technology. 

Other responsibilities include establishing new mathematical concepts and creating models to tackle real issues in domains such as commerce, government, engineering, and the sciences. 

Because of this, mathematicians are employed both by the public and commercial sectors in scientific and technical research activities. Engineers, scientists, and other experts in fields as diverse as biology and finance form the nucleus of their teams. 

An interdisciplinary topic of study, biomathematics or mathematical biology, is another possible career path. It uses mathematical methods and tools to create models of natural and biological phenomena. Financial markets may be explained and predicted using mathematical models, as has already been noted.

Summer math camps are a great place for curious students to get their feet wet in the realm of mathematics. On the website of the American Mathematical Society, you may find a wealth of knowledge. This website offers a wide range of resources for students, from contests to degree programs. 

Indiana University East, for example, offers an online degree program that students may complete. Calculus, Linear Algebra, Modern Algebra, Real Analysis, and Mathematical Modeling make up the basis of this Bachelor of Science in Mathematics degree, which includes 45 credits of mathematics.

Education. Bachelor of Science in Mathematics

Median Salary. $78,000

Analyst in Finance

They analyze the financial condition in their area of expertise and provide their findings in written and spoken presentations.

Data like industry and economic trends, forecasts for future profitability, and the fair market value of firm shares are all monitored and evaluated by these analysts. 

They then propose actions to their company or investors. Additionally, financial analysts are responsible for writing reports that explain their findings, sharing their knowledge with non-financial colleagues and occasionally communicating their views to the public and financial media. 

Many are employed by financial institutions, such as banks and insurance organizations. The U.S. Bureau of Labor Statistics predicts that the number of employment for financial analysts will rise by 15.5%, or 39.300, by 2022, which is substantially faster than the average for all occupations.

A bachelor’s degree in finance is more likely to be earned by students who have a good foundation in both mathematics and business.

You’ll learn about statistics, management finance, and business regulations; investment analysis; ethical considerations; accounting; and international business. 

Business administration master’s degrees are required for many occupations. Typically, students at this stage of their education learn advanced theories of business and management and focus on a single financial field, such as foreign investment or project management.

Education. Minimum Bachelor’s degree in finance or related field, plus Certified Financial Analyst (CFA) certification

Median Salary. $78,000

Economist

Economics is described by Investopedia as an expert who analyzes the link between a society’s resources and its production or output.

Studying how communities and markets allocate the many types of resources needed to produce commodities and services is the primary focus of economics researchers. 

They work for a wide range of organizations, including government agencies, investment firms, banks, think tanks, non-profit organizations, and huge enterprises. Economists often gather data, analyze reports, use modeling tools, examine projections, and write reports. 

A wide range of economic policies, including interest rates, tax laws, employment programs, international trade agreements, and company strategies, are shaped with the support of economists’ professional judgments and research results. 

Federal and state government agencies employ about half of all economists, according to data from the Bureau of Labor Statistics (BLS).

The Bureau of Labor Statistics (BLS) projects that employment opportunities for economists will increase by 6% by the year 2020. 

The private sector is predicted to have the most need for economists, notably in the fields of science, management, and consultancy.

The Bureau of Labor Statistics (BLS) indicates that job prospects are projected to be favorable for those with strong mathematical and analytical abilities, relevant work experience, and advanced degrees. 

However, those with a background in finance or statistics/mathematics may also be considered by employers. The study of international commerce and finance, investments, public policy, and legislation may be advantageous.

Education. A Master’s degree in Economics is the preferred/some entry-level jobs with a Bachelor’s degree

Median Salary. $77,000

Statistician

American Statistical Association (ASA) claims that statistics gives the rationale and procedures for analyzing data. Statistics are based on mathematics, yet it is neither abstract nor solitary. 

In order to tackle practical problems, statisticians collaborate with people from different fields of study. In order to organize and analyze data, statisticians employ contemporary computing, and statisticians have access to highly specialized software. 

Instead of computing for its own sake, however, the focus here is on understanding the data and solving a problem. A statistician who works in medical, industry, or market research must have a working knowledge of the relevant fields in order to analyze their data. 

In order to better service their consumers or enhance their operations, more businesses are deploying complex data collection and analysis systems.

Students interested in this field should begin their studies in these fields in high school by taking classes in statistics, mathematics, physics, and computer science. 

A degree in statistics, applied mathematics, or a closely related subject is advantageous once you have completed your undergraduate education. Math and statistics can be minors for non-statistics students.

It’s a good idea to build a foundation in math, science, and computer science, as well as specialize in a particular area of interest. 

One of the benefits of majoring in statistics is that you may apply your knowledge and skills in virtually any area of business, technology, or science.

Health and medical statistics, business and industry, as well as government departments like the National Defense, Forestry, and Law require statisticians.

Education. Minimum Bachelor’s degree master’s degree or Ph.D. is often recommended

Median Salary. $72,000

Expert in the field of finance

A financial adviser is someone who provides their customers with financial advice. A client’s investment portfolio must take into consideration a variety of factors, including economic developments, regulatory changes, and the client’s tolerance for hazardous decisions.

Although most financial advisers provide guidance on a wide variety of issues, others specialize in areas such as retirement planning or risk management evaluating how willing the investor is to take chances, and adjusting investments accordingly. 

Numerous financial counselors are authorized to purchase and sell stocks, bonds, annuities, and insurance directly. Private bankers and wealth managers who serve as personal financial advisors for customers with huge amounts of money to invest are a subfield of this profession.

Employers often do not require a specific subject of study; nevertheless, a degree in finance, economics, accounting, business, mathematics, or law serves as enough preparation for this position. 

Additionally beneficial are courses on investing, taxes, estate planning, and risk management. Financial advisers who actively buy or sell stocks, bonds, insurance policies, or particular investment advice require a variety of licenses depending on the items they provide. 

Additionally, these specialists are obliged to be registered with whichever government body regulates their services. Certifications such as the Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), and Chartered Investment Counselor (CIC) should be on the to-do list for all graduates.

Education. Bachelor’s degree minimum

Median Salary. $63,000

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