MATH/STAT MAJORS ARE IN DEMAND

This flyer looks at the question asked most frequently by students who are considering a major in the Department of Mathematics and Statistics: What would I do after graduation? The fact is that an undergraduate degree in mathematics and/or statistics can lead to many interesting career possibilities as well as a broad spectrum of graduate school programs. According to the 1999 edition of Jobs Rated Almanac, by Les Krantz, “Mathematician” is 5^th among the 250 jobs ranked in order of desirability.

Below, we give brief descriptions of several representative careers and graduate programs for Miami University Math/Stat majors, followed by a few references for further reading. Where data on graduates is given, it is drawn from responses to Arts & Science surveys of students graduating in the years 1990 – 1996.

GRADUATE SCHOOL PROGRAMS IN MATHEMATICAL SCIENCES Roughly 25% of our graduates have gone on to graduate school programs in areas such as mathematics, statistics, biostatistics, operations research and computer science. Essentially all of these students are financially supported by graduate assistantships, which are available everywhere. (Typically, graduate assistants teach introductory courses in their field, hold review sessions or provide other kinds of support to their department, e.g., grading and tutoring.) A 3.0 gpa improves the chances that you will get some assistantship offers if you apply to the right schools. Getting a master’s or doctoral degree in one of these areas opens up career options that bachelor’s degree holders may not have.

OTHER GRADUATE/PROFESSIONAL SCHOOL PROGRAMS Math/Stat majors are known for being systematic and good at logical reasoning. Consequently it is not surprising that a few of them have attended law school following graduation from Miami. Others, after planning their nonmathematical coursework carefully, have gone on to medical school (3 in the class of ’94 alone), or to MBA programs. Altogether, these groups account for about 5% of the surveyed Arts & Science graduates.

Students who double-major in Math/Stat along with another subject (physics and systems analysis are common choices) may go on to graduate school in that other subject. In some cases (e.g. economics), even a minor in the second subject is sufficient to gain admission to a good graduate program in that field. The strong mathematical background is an advantage, since research-level work in many fields often has a significant component of mathematics or statistics. Even in areas not well known for such demands, Math/Stat training can be a decided advantage. Admission to a top-flight MBA (Masters of Business Administration) program, for example, is greatly aided by demonstrated analytical abilities. (See below.)

MANAGEMENT CONSULTING Graduates who have pursued careers in business report many different job titles, such as Internal Auditor, Loan Officer, Systems Analyst, and Statistical Analyst, but most of them might be classified under the general heading of Management Consulting. Many large firms have a department or division upon which they rely for financial analysis, data analysis, research, and so on. Members of the department often have varied academic backgrounds, but all of them must be able to read technical materials, analyze data, work with formulas, solve problems and communicate effectively with others. For example, Andersen Consulting has hired several or our graduates in recent years. Electronic Data Systems and a number of financial institutions have also hired our students for this type of work. Approximately 30% of the surveyed graduates are in this general area. Incidentally, job experience of this type, together with a strong Math/Stat major and related course work in business is excellent preparation for entrance to an established MBA program.

SECONDARY SCHOOL TEACHER Everyone is familiar with the secondary school teaching profession. There is a very strong and still increasing demand for qualified mathematics teachers (who often teach statistics as well). You can be licensed to teach mathematics either by majoring in Education and satisfying the requirements of a mathematics cohort program, or by earning a Math/Stat major in Arts & Science while also satisfying the licensure requirements in Education. About 13% of our majors in Arts & Science have joined this profession.

ACTUARY A highly visible demand for Math/Stat graduates comes from actuarial departments of banking and insurance companies. (In the edition of Jobs Rated Almanac mentioned above, “Actuary” is ranked 2^nd, behind “Web site manager.”) An actuary is a business professional who uses mathematical and statistical skills to solve financial problems, especially as they involve an element of risk. A number of companies contact us periodically in search of upcoming graduates for them to interview, and about 10% of our graduates have entered this field. If it appeals to you, then you should learn about the Actuarial Exams given at Miami and elsewhere several times each year. The first exam covers calculus, probability and statistics, and our department offers special problem seminars in addition to regular courses to help students prepare for the exam. Companies that have hired Miami graduates in the past few years for actuarial positions include: Allstate, Blue Cross, Great American Insurance, Nationwide, Ohio Casualty Insurance Group, Time Insurance, Union Central Life, and Watson Wyatt Worldwide. Several other companies have been actively recruiting here. These companies tend to prefer students who pass the first actuarial exam before graduation.

STATISTICIAN A statistician is a person who designs and analyzes experiments involving data. In business and industry, statisticians are hired to work in product development, quality control, product testing and market analysis. Government is also a major employer of statisticians. The U.S. Bureau of Census, the U.S. Bureau of Labor Statistics, and the Environmental Protection Agency are three of the many agencies that can be mentioned as examples. A master’s degree in statistics is often required, although there is a demand for graduates with a BS in Statistics or a BS in Mathematics and Statistics with an emphasis in statistics. In some instances, a person who begins work with a bachelor’s degree is encouraged and even supported by the employer to earn the desired master’s degree.

SYSTEMS ENGINEER By systems engineering, we mean computer programming and data analysis that are done to support various kinds of engineering effort (as opposed to financial analysis). About 10% of the Math/Stat graduates—typically ones with a strong related area in systems analysis—have been hired in such positions. AT&T, GE, Marathon Oil, Lockheed Martin, Northrop Grumman and EDS have employed recent Math/Stat graduates.

The variety of employment possibilities for Math/Stat graduates is practically unlimited. Math/Stat majors enjoy a reputation for being trainable, hard working, analytical, logical, confident people who feel comfortable with technical information and with computers. Of course, Math/Stat degrees are not for everyone; it is important to match your choice of a major with your talents and interests. Furthermore, winning a job upon graduation depends on other factors besides successful completion of a program. For example, personality traits, written and oral communication skills, and the ability to work effectively as part of a team are important factors. Also, the area you choose for your Related Courses requirement can have a major impact upon your future prospects.

For more information, talk to your Math/Stat instructors or to a Math/Stat advisor. Other suggestions:

Watch the bulletin boards in Bachelor Hall for job and career notices.

Register on-line with the Career Planning and Placement Office.

Visit the web site ams.org/careers/ and browse among its many links.

Check out one of the books mentioned below.

Great Jobs for Math Majors, Lambert & DeCotis, VGM Career Horizons, NTC/Contemporary Publishing Group, Inc., 1999 (ISBN 0-8442-6422-9).

101 Careers in Mathematics, Andrew Sterrett, ed., The Mathematical Association of America, Inc., 1996 (ISBN 0-88385-704-9).

She Does Math!, Marla Parker, ed., The Mathematical Association of America, Inc., 1995 (ISBN 0-88385-702-7).