6 Lucrative Careers For A Maths Lover

Mathematics was that one subject in school that students either seemed to adore or completely dislike (me being one of them). Well, it turns out that regardless of how we feel about it, being good at maths is one of the most crucial skills a person can possess in real life. In fact, Mathematics is used in all aspects of life! Architecture, medical, housing, sales, engineering, finance, automobiles, education, IT – you won’t come across a field where Maths doesn’t play a key role!

The beauty of the subject is that it’s completely based on objectivity and logical reasoning. There is no room for interpretation or any sort of vagueness. This absolute objectivity is what makes maths such a powerful tool in building the world.  

“Pure mathematics is, in its way, the poetry of logical ideas.” – Albert Einstein

There are two basic branches of mathematics, theoretical and applied. Theoretical mathematics deals with the various formulae, concepts, theories, axioms & fundamentals of the subject, and its very nature. Applied mathematics on the other hand is all about using these theoretical concepts and putting them to use in developing our world and making it a better place.

Mathematics involves a lot of number crunching, logical reasoning, calculations & problem-solving. These are some of the skills one develops courtesy of their affinity and dedication toward the subject. Coincidentally, an individual possessing these qualities stands to benefit in a big way!

People who are good at maths are considered to be highly intelligent, which allows them access to several career opportunities. This translates to high-paying jobs and working for some of the biggest and most prestigious organisations in the world. You are also going to have a lot of options to choose from as mathematics is required absolutely everywhere!

If you have an affinity for numbers and a knack for problem-solving, a career in mathematics might just be the perfect one for you! Here are some of the avenues you can pursue.

What courses can you pursue in the field of Mathematics?

There are several courses for you to choose from if you have an affinity towards mathematics. These range from undergrad courses in Science and Arts to postgraduate and doctorate courses. Here are some of the most popular options to pursue. 

Bachelor of Science (B.Sc) in Mathematics

It’s a three-year undergraduate course with a focus on numerical analysis, algebra, data analysis, etc., and developing overall mathematical skills.

B.Sc (Hons.) Mathematics

Similar to B.Sc. Mathematics but you earn an honours degree on completion of the course.

B.Sc in Actuarial Science

This three-year undergraduate course involves teaching students about market trends and economic patterns, with a focus on statistical analysis.

Master of Science (M.Sc) Mathematics

A two-year postgraduate program that is a step up from B.Sc in which students get an even deeper knowledge of the subject and they can specialise in the branch they wish to.

B.A. Mathematics

It’s a three-year undergraduate course that teaches students various concepts of mathematics and how to incorporate them into humanities and arts.

M.Phil Mathematics

This two-year postgraduate enables students to earn a Master of Philosophy degree in mathematics.

Ph.D. in Mathematics.

A doctorate in mathematics involves conducting research on existing theories of the subject and formulating new ones.

Here’s a list of some of the top colleges that offer courses in mathematics.

• Indian Statistical Institute (ISI), Kolkata
• Indian Institute of Science (IISc), Bengaluru
• Institute of Mathematical Sciences, Chennai
• Indian Institute of Technology (IIT), Kanpur
• Tata Institute of Fundamental Research (TIFR), Mumbai

The fee varies from college to college and based on the course selected. It is anywhere between INR 30,000 and INR 10,00,000 per year. 

For pursuing an undergraduate course in Mathematics, one needs to have completed their 10+2 from a recognized board, with minimum percentage. The cut-off may vary from college to college and some institutes may conduct an entrance test. In case of postgraduate courses, candidates need to have an undergraduate degree in Mathematics with the minimum aggregate score. As far as PhD is concerned, a candidate must have a postgraduate degree in Mathematics but there are some colleges that accept a B.Tech degree, as well. 

What are some of the top careers you can pursue with a background in Mathematics?

Statistician

In this financial year, the Indian government spent over 1700 crore rupees on the development of sports in the country. Gautam Adani with a net worth of $112 billion replaced Bill Gates as the fourth richest man in the world recently. India has a road network of over 63 lac kilometres with 71.4% of it being in rural areas. How do you think we found these stats? They were compiled by statisticians who publish these numbers in order for them to be useful to the common public.

As a statistician, your job would involve gathering raw data, crunching the numbers, putting them into perspective, and publishing them in the form of charts, graphs, and tables. These numbers are like gold dust in many industries, especially those driven by money such as aviation, sports, economics & show business. This means that skilled statisticians are always in high demand and they get paid handsomely. You can make anywhere between INR 1,20,000 to INR 12,50,000 per year.

Actuary

Have you ever wondered why insurance premiums seem like such arbitrary numbers and how they come up with them? Well, today’s your lucky day because you’re going to find out right now! Those values are calculated as a result of thorough research of stats combined with risk analysis factors such as sickness, retirement, or disability. The person who does this job is called an actuary.

As an actuary, one’s role involves calculating risks for a company. They do this by utilising their skills in mathematics and statistics, and problem-solving to help develop policies based on potential events in the future. An actuary works in sectors such as finance, healthcare, insurance, and banking, among others. As you may expect, these professionals are well paid and can command an annual salary between INR 2,18,000 to INR 40,00,000 based on their experience.

Mathematician

These are mathematical geniuses who use their prowess in the subject to develop algorithms and theories. Almost every industry today is dependent on mathematics and its applications and for that reason, it is essential to keep on researching and finding new solutions to problems. This is the job of mathematicians.

There are two types of mathematicians – theoretical and practical. As the former, your job is concerned with developing new mathematical theories while scrutinising the ones already in existence. The latter involves you using these theories and applying them in actual problem solving and development of various fields such as robotics, architecture, transport, economics, engineering, and many more. Mathematicians can earn anywhere between INR 4,40,000 to INR 20,00,000 annually.

Professor

Schools and colleges are where the minds of the next generation of students are moulded into becoming the future of the world. As a mathematics professor, it’d be your job to spark your students’ interest in the subject and guide them in the right direction. This involves teaching them mathematical concepts, problem-solving, and theories and utilising these skills in the real world.

Additional duties of a professor include preparing students for competitive exams, correcting exam papers, and delivering lectures. A skillful professor can be a source of inspiration for their students, encouraging and helping them excel at mathematics. One can expect to earn anywhere between INR 6,00,000 and INR 18,50,000 per year as a professor.

Economist

Economists are experts at formulating financial policies and plans to address any current or foreseeable economic issues in the future. As an economist, your job would involve conducting research, gathering financial data, studying the market trends, analysing these factors, and coming up with solutions. A secondary duty could be to facilitate long-term financial planning and investment for companies. An economist’s work is beneficial in a number of industries such as agriculture, education, finance, and manufacturing. You can expect to make between INR 1,79,000 and INR 20,00,000 annually as an economist.

Data analyst

A data analyst’s key role is to analyse data. Sounds simple enough, doesn’t it? There’s slightly (read: a lot) more to it than just that. If you choose this as a career, your job would involve you making sense of raw data, analysing it, identifying patterns, and using it to make optimal business decisions. For example, in sales, it is crucial to understand consumer behaviour and purchasing patterns to maximise profit and company growth.

Overall, as a data analyst, your job involves crunching raw statistics, simplifying them, and presenting them to the people at the top of the company hierarchy. As you may expect, this is quite a lucrative career since your work dictates company policies, translating into profit or loss. A data analyst’s annual income is between INR 1,90,000 and INR 11,10,000.

These are but some of the lucrative careers for maths lovers to choose. If you’d like to consider others, you can check out careers like  astronomy, engineering, architecture, financial planning, and accounting.

Thinking about a career in mathematics? Let us help you get #CareerReady!

Mathematics is one of the fundamental subjects and by its very nature, quite useful in problem-solving. As a student, whether you like it or not, you can appreciate how important it is in our day-to-day lives and the development of society as a whole. Individuals that possess expertise in maths are highly valued and in demand. If you like numbers, solving problems, and enjoy mathematics as a subject, rest assured it’s an interesting field to build your career in.

We, at Mentoria, look after all your career guidance needs by gauging your interests, be it in mathematics, arts, architecture, social sciences, and much more. We help you find your way by mapping out a path that is customised and optimised for you, based on your interests and ambitions! Well, what are you waiting for? Get in touch with Mentoria now!