Types of Jobs That Deal With Math
Mathematics is integral to many different types of jobs besides the teaching of the subject. Math is used to measure change and predict future results, making it an ideal tool to use in professions that are trying to alter future outcomes. These characteristics allow math to play a central role in the insurance, medical, engineering and financial fields.
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Financial Analysts
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Financial analysts look at business investment opportunities and determine whether it makes sense to invest in them and, if so, how much to invest. They use a variety of mathematical formulas to analyze how much the company is worth, how profitable the company is, how much growth potential the company has and how likely the company is to grow in the future. According to the Bureau of Labor Statistics, the median salary for financial analysts was $73,150 as of May 2008.
Actuaries
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When you apply for insurance, the insurance company doesn't pull your monthly bill amount from a hat. Rather, insurance company actuaries calculate the risk that you pose of filing a claim and the rate the company needs to charge you to cover its expenses and make a profit. Actuaries use information such as your age, marital status, past insurance records and gender as well as statistical formulas to determine how likely you are to have an accident (in the case of car insurance) or how likely you are to get sick (for health insurance). According to the Bureau of Labor Statistics, the median salary for actuaries was $84,810 in May 2008.
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Engineers
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Civil engineers use formulas to predict traffic patterns and design more efficient transportation networks. They may also use math to analyze how a change in zoning or a new building project will affect the sewage, electrical and transportation needs of a city. Mechanical engineers must use math to design machines. The specific measurements of the machine, as well as the power requirements, gear ratios and outputs must be precisely calculated to ensure the machine works as planned. The Bureau of Labor Statistics states that salaries vary by engineering specialty. For example, as of May 2008, the median salary for civil engineers was $74,600; the median salary for mechanical engineers was $74,920; and the median salary for aerospace engineers was $92,520.
Medical Professionals
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When performing experiments, medical scientists must collect data to determine whether treatments are working. Once they collect the data, they use statistical analysis to determine whether random chance caused the differences between the control groups or if the differences are statistically significant. When on the job, medical professionals must determine the proper drug amounts based on the patient's history and, in many cases, the patient's size. If a doctor gives too much anesthetic before surgery, the patient could die; too little and the patient could wake up in the middle of the operation. According to the Bureau of Labor Statistics, as of 2008, medical specialists had a median income of $339,738, while the median salary for medical scientists was $72,590.
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