Employers of Mathematics majors in NJ

Mathematicians

Mathematicians use advanced mathematics to develop and understand mathematical principles, analyze data, and solve real-world problems. Conduct research in fundamental mathematics or in application of mathematical techniques to science, management, and other fields. They solve problems in various fields using mathematical methods. Mathematicians work in the federal government and in private science and engineering research companies. They may work on teams with engineers, scientists, and other professionals. Mathematicians typically need a master’s degree in mathematics. However, there are some positions available for those with a bachelor's degree. The median annual wage for mathematicians was $103,010 in May 2017. Employment of mathematicians is projected to grow 33 percent from 2016 to 2026, much faster than the average for all occupations. Businesses will need these workers to analyze the increasing volume of digital and electronic data.

Operations Research Analysts

Operations research analysts use advanced mathematical and analytical methods to help organizations investigate complex issues, identify and solve problems, and make better decisions. They formulate and apply mathematical modeling and other optimizing methods to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May collect and analyze data and develop decision support software, service, or products. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation. Operations research analysts spend most of their time in offices, although some travel may be necessary to meet with clients. Almost all operations research analysts work full time. Although the typical educational requirement for entry-level positions is a bachelor’s degree, some employers may prefer to hire applicants with a master’s degree. Analysts typically have a degree in business, operations research, management science, analytics, mathematics, engineering, computer science, or another technical or quantitative field. The median annual wage for operations research analysts was $81,390 in May 2017. Employment of operations research analysts is projected to grow 27 percent from 2016 to 2026, much faster than the average for all occupations. As technology advances and companies seek efficiency and cost savings, demand for operations research analysis should continue to grow.

Statisticians

Develop or apply mathematical or statistical theory and methods to collect, organize, interpret, and summarize numerical data to provide usable information. May specialize in fields such as bio-statistics, agricultural statistics, business statistics, or economic statistics. Includes mathematical and survey statisticians. The median annual wage for statisticians was $84,060 in May 2017. Employment of statisticians is projected to grow 27 percent from 2012 to 2022, much faster than the average for all occupations. Overall employment of statisticians is projected to grow 33 percent from 2016 to 2026, much faster than the average for all occupations. Businesses will need these workers to analyze the increasing volume of digital and electronic data.

Actuaries

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits. The median annual wage for actuaries was $101,560 in May 2017. Employment of actuaries is projected to grow 22 percent from 2016 to 2026, much faster than the average for all occupations. However, because it is a small occupation, the fast growth will result in only about 5,300 new jobs over the 10-year period. Actuaries will be needed to develop, price, and evaluate a variety of insurance products and calculate the costs of new, emerging risks.

Mathematical Science Teachers, Postsecondary

Teach courses pertaining to mathematical concepts, statistics, and actuarial science and to the application of original and standardized mathematical techniques in solving specific problems and situations. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research. The median annual wage for postsecondary mathematical science teachers was $70,910 in May 2017.

Mathematical Technicians

Apply standardized mathematical formulas, principles, and methodology to technological problems in engineering and physical sciences in relation to specific industrial and research objectives, processes, equipment, and products. The median annual wage for mathematical technicians was $49,660 in May 2017.