Graduate Careers in Mathematics
If you’re a graduate in a mathematical degree then there are many career options open to you. Graduate careers in mathematics are amongst the most well-paid of graduate jobs in other sectors. As a maths graduate you will have a high level of skill in problem solving, processing information, rational thinking, working logically and accurately. All of these qualities are very employable which makes maths graduates highly sought after. Graduate careers in mathematics tend to offer competitive salaries and a lot of responsibility. So if you’re a recent maths graduate or a student in their final year then read on to discover what a graduate career in mathematics can offer you.
If you wish to use the knowledge you have gained in your degree then the following are typical professions to go into: the actuarial profession, the financial sector, IT, computer programming and systems administration. Having a degree in a subject where numeracy is frequently used such as economics, business, engineering, physics and chemistry is usually a prerequisite for a career in the mathematical industry.
The Actuarial Profession
If you are a graduate with business acumen and good problem solving skills then a career in the actuarial profession might be for you. Actuaries use mathematical and statistical knowledge to help financial institutions and governments evaluate the long-term financial implications of their decisions. Typical industries where actuaries work are insurance and pensions, banking, business management and risk assessment. Most employers in the actuarial profession are looking for graduates with an excellent academic background; at least a 2.1 and top grades in A levels or equivalent.
The Financial Sector
Careers in the financial sector can range from those in which numeracy permeates the job on a day-to day basis such as accounting right through to those in which mathematics is used in an applied capacity such as financial brokering. Other careers in the industry include: asset management, consultancy, corporate banking, equities, global custody, insurance, investment banking, investment consulting, operations, private banking/broking, quantitative analytics, retail banking, risk management, sales and marketing and trading. Careers in these sectors are often very lucrative for able and enthusiastic graduates. Most major employers will have their own graduate schemes which can be very competitive, so it may be wise to do some work experience in the sector you choose to enhance your chances of a successful application. For more information on jobs within the financial sector visit the following websites:
Banking: The Bank of England www.jobsatthebank.co.uk/pages/default.aspx
Business Economics: Society of Business Economists www.sbe.co.uk/careers/index.htm
Financial Advisors: Association of Independent Financial Advisers
www.aifa.net/aifa/graduates/IFArightforyou.htm
Insurance: Chartered Insurance Institute www.cii.co.uk
Investment: United Kingdom Society for Investment Professionals (UKSIP) www.uksip.org/about_uksip/careers/index.cfm
Taxation: Chartered Institute of Taxation www.tax.org.uk/showarticle.pl?id=74;n=402
Trade Associations: London Investment Banking Association www.liba.org.uk
If you choose not to go into an exclusively mathematical career then there are opportunities for you to use your expertise in business and industry where employers will use maths graduates for research and development, statistical analysis and marketing and sales. In 2002, over 10% of recent maths graduates who were in employment had gone into management positions, another 13% had gone into IT and many others were employed in areas such as marketing and retail.
Another option open to maths graduates is teaching. Maths graduates tend not to go straight into teaching and so there has become a shortage of skilled, qualified and enthusiastic maths teachers. Maths graduates are often tempted by higher salaries offered by big companies and so do not consider teaching as a first choice. However, the government has recently introduced numerous incentives and ‘golden hellos’ for those who want to pursue a teaching career.
Graduate careers in mathematics cover a large span of disciplines. Before applying, make sure you do your research on the company and take advantage of any internships that are being offered. Graduate careers in mathematics are varied, challenging and exciting so don’t delay, start applying now and explore the world of opportunity that is out there for the maths graduate.
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