Career prospects in Applied Maths

With its application in Data Science/Analysis, students have a wide range of options

February 26, 2022 11:18 am | Updated 11:19 am IST

Applied Maths is a increasingly becoming a catalyst in many sectors

Applied Maths is a increasingly becoming a catalyst in many sectors | Photo Credit: Freepik

Applied Maths, an ever-growing field, involves the development of mathematical models for systems in Science, Engineering, Technology, and the Arts (SETA). The discovery of calculus by Newton and Leibniz in the late 17th century revolutionised Applied Mathematics, leading to a wide range of applications such as the classical mechanics in Physics, the analysis of growth and evolution using differential equations, optimisation methods using the calculus of variations, probability and statistical methods to analyse risk and empirical data from all fields. The current trend is Data Analytics/Science, which is a combination of elements of Mathematics, Statistics, Computer Science, and Information Technology.

Deceptively simple

Applied Maths is associated with a number of sub-disciplines, including differential equation methods, numerical/computational methods, statistical methods, and operations research methods. It has branched into many specialised fields such as Theoretical Physics, Fluid Dynamics, Astrophysics, Mathematical Chemistry, Mathematical Biology, Human Resource Analytics, Cryptography, Computer Science, Engineering, and so on.

Applied Maths courses are often perceived as highly technical and difficult, perhaps due to inadequate foundational teaching of Maths in schools. Since much of it involves simple high-school Maths, students should view it as a way of representing systems through models for further analysis. Much of the detailed computation can be automated using computers so that the essence is in the development of the model and interpretation and application of the results.

Opportunities

Students of Applied Maths programmes can enter several diverse and exciting career opportunities in government departments such as the Ministry of Statistics and Policy Implementation, and research wings of various organisations, and private sector organisations including manufacturing, telecommunications, software, banking, financial services, insurance, and so on. Research, teaching, and academic positions are also quite popular.

In recent times, some of the most lucrative professions include Data Analyst/Scientist, Statistical Analyst, Mathematical Analyst/Modeller, Operations Research Analyst, Computational Analyst, Actuarial Analyst, Risk Analyst, Software Developer/Engineer, Economic Analyst, Financial/Investment Analyst, Research Analyst/Scientist, and so on. Since this is an emerging discipline which is interdisciplinary by nature, salary packages vary with industry; however should a candidate have the required skillsets which are in sync with the industry requirements, salary would not be a constraint.

Applied Maths is a increasingly becoming a catalyst in many sectors, as data analysis/modelling has become a game changer. Students must target their career early on to gain the edge.

The writer is Interim Associate Dean - Alliance School of Applied Mathematics, Alliance School of Applied Mathematics

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