Discover 10 Profitable Careers in Applied Mathematics

You might be wondering what careers in applied mathematics is all about. Applied mathematics is a career that has become an indispensable tool in the modern world. 

Applied mathematics studies mathematical problems relevant to practical situations, such as engineering, economics, physics, and biology. 

From understanding how the markets function to developing new technologies, mathematicians are responsible for analyzing vast amounts of data and coming up with solutions. 

If you’re thinking about a career in applied mathematics, there’s no need to look further. This article will highlight profitable careers to venture into with your applied mathematics degree.

1. Consider a Career in Data Analytics 

A career in data analytics can provide you with a skilled and satisfying position in the field of applied mathematics. 

Data Analytics is an ever-growing industry that offers numerous personal and professional growth opportunities. 

With advanced mathematical concepts at your fingertips, working within this sector will allow you to make a considerable impact on society as a whole.  

A career in data analytics can be gratifying. Additionally, jobs within data analysis often come with excellent salaries and benefits packages. 

So investigate all available options before settling on anything. You could work with companies that use statistics and math to make decisions about their businesses. 

Or you could develop your software applications that use those same mathematical methods. The sky’s the limit.

SEE: Compare the best data visualization tools

2. Become a Financial Analyst

There are many different careers in applied mathematics, and each one has its own set of unique opportunities. 

Some people work as financial analysts, trying to find ways to improve the profitability of businesses by analyzing their data and figures. 

Others may study mathematical theories to help solve complex problems or develop new methods for solving them. 

To become a financial analyst, you need to have good math skills. You’ll need to be able to use formulas and understand basic financial concepts. 

There is a great deal of variety available within this field, so if you enjoy working with numbers and exploring complex concepts, becoming a financial analyst could be the right choice.

3. Be an Actuary

Anyone can be an actuary. It’s all about using the right tools and learning how to apply them correctly. And that takes proper training, both in mathematics and life itself. 

An actuary is someone who uses numbers to understand events that could happen in the future, which means they use math skills every day of their professional lives. 

They work with companies worldwide to help plan financial risks for various projects and products – from pensions to health plans to home mortgages. 

There are many different routes into this career field, but it starts with getting a good educa­tion in math and economics.

SEE: Explore the best ways to make the most out of your economics degree

4. Become a Mathematician

With today’s technology, the application of Mathematics to real-world fields has never been more relevant than it is now. 

Skilled mathematician uses their knowledge of mathematics to solve problems and make predictions. They use formulas, models, graphs, and tables to glean understanding from data. 

People who enjoy solving intricate puzzles and wish to apply their knowledge to something meaningful will enjoy this career in applied mathematics.

Becoming a mathematician requires training in a rigorous field such as math or physics undergraduate degree followed by years of graduate school studying mathematics under prestigious professors. 

SEE: Explore the best careers for math majors

5. Work as a Researcher

For many reasons working as a researcher with an applied mathematics degree is one of the most profitable careers. Over the past few decades, this field has exploded with new and innovative discoveries. 

Researchers have pinpointed countless ways to improve our economy and make life easier for ourselves and others worldwide. 

Meanwhile, technological advances have made it possible for researchers to conduct their work anywhere at any time, making them more accessible than ever before. 

Finally, there’s incredible respect that people in this field command among peers and professionals – something that can only be earned through hard work and dedication.

SEE: Learn more about survey papers

6. Be an Operations Research Analyst

Operations research analysts are responsible for helping businesses optimize their operations by making better decisions about how to produce and purchase products. 

Mathematical models can help companies reduce production costs, find new product markets, and reduce manufacturing waste.

The field is snowballing because it offers various challenging career opportunities ranging from consulting services to high-tech corporations. 

You could work as an operations research analyst in business planning departments or industrial engineering laboratories. 

Regardless of your career path, you will be surrounded by people who enjoy analyzing data sets holistically and solving problems critically.

7. Become a Biostatistician

In this branch of applied mathematics, researchers use statistical techniques to study biological data sets to improve medical treatments or understand how diseases develop. 

There are many reasons why becoming a biostatistician is one of the profitable careers in applied mathematics. 

One reason is that within this career field, statisticians have access to cutting-edge technology and analysis tools that can be used to help researchers better understand their data. 

Another reason is that biostatistics has become an essential tool for scientists who study health conditions and biomedical research.

8. Work as a Nuclear Engineer

The work of a nuclear engineer involves the technical design, development, and operation of facilities that use radioactive materials to produce energy. 

Nuclear engineering is one of the most lucrative careers in applied mathematics because it offers stability. 

Nuclear engineers are well compensated because their employment opportunities will remain relatively stable as technological advances occur across many industries. 

Additionally, since nuclear engineers typically have a required degree from an accredited engineering program, they enjoy excellent job security.

SEE: Find out if physics is hard

9. Become a Climatologist

Earth’s climate significantly impacts the economy, health, environment, and quality of life. Many factors can contribute to fluctuations in temperature patterns, such as solar activity or volcanic eruptions. 

A career in climatology deals with the study of climate, affecting many aspects of our everyday lives. 

Some popular areas include predicting weather patterns, carbon sequestration, water resource utilization, and sea level detection. 

Due to how important these topics are for society, it has been determined that this is an area where applied mathematics can play a valuable role.

This means that climatologists have access to various mathematical models and toolsets, allowing them to reach their research goals and help maintain a sustainable world. 

SEE: Explore green business ideas to make money without harming the environment 

10. Be a Mechanical Engineer

To become a mechanical engineer, you must earn an applied mathematics degree. 

This career field is one of the most profitable in applied mathematics because it offers many opportunities for career growth. 

Mechanical engineers design and create machines that help us do everything from manufacturing products to performing medical procedures. 

As engineers, you develop new materials, manage engineering projects, and study safety issues related to industrial machinery. 

You will also design efficient production processes and ensure a quality product is delivered on time, among other things.

This makes them highly sought-after career options because there are always opportunities for growth within this field.

Applied mathematics careers - lmshero

FAQs

Is applied mathematics a good degree?

Yes. Applied mathematics is a good degree. Ultimately, what matters is if you like doing mathematics and whether or not you find satisfaction in solving mathematical problems.

What does an applied mathematician do?

An applied mathematician solves mathematical problems that have real-world applications. 

They work with engineers, scientists, and other mathematicians to solve complex problems and help turn confusing abstract concepts into practical solutions.

Are mathematicians in demand?

Yes. Mathematicians are in high demand due to the increasing complexity of our world. However, mathematics has pros and cons like any other field of study. 

Final Thoughts 

There are many profitable careers in applied mathematics, and the field is growing rapidly. It is a field that helps us to understand the world around us. 

Applied mathematicians use their skills to solve problems in various fields, from engineering to finance. 

Because of its many applications, applied mathematics has a high rate of return on investment for students who pursue it. 

A career in applied mathematics is an excellent option if you enjoy solving complex problems and have a high level of mathematical competence.

Read this article to find out if math is a good major

Thanks for reading.