Additional Information
A bachelor's degree in mathematics is the minimum education needed for
most entry-level jobs. Mathematicians in private industry are likely to have
master's degrees or PhDs. However, many people in related fields (such as
computer science, systems engineering) have just a bachelor's degree.
"There's a lot of opportunity for master's [degree holders]," says mathematician
Matt Davison. He teaches applied mathematics. "Even for bachelor's [degree
holders], there are opportunities. But if you want a mathematical-like job
with a bachelor's, then the best thing to do is actuarial science, which is
an insurance mathematician. There are lots of great jobs available for people
with bachelor's in that area."
Mathematicians teaching and conducting research at universities almost
always have a PhD in mathematics. Some colleges employ mathematics instructors
with only a master's degree.
Applied mathematics requires training in the particular field. Fields in
which applied mathematics is used extensively include physics, actuarial science,
engineering and operations research. Of increasing importance are computer
and information science, business and industrial management, economics, statistics,
chemistry, geology, life sciences and the behavioral sciences.
"There's a lot of work in the financial industry for people with master's
in mathematics," says Davison, who does a lot of work on the pricing and hedging
of financial contracts in financial markets. "And... in government sectors
there's a fair bit of work just sort of looking at and analyzing the data
that governments have to make decisions."