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Mathematical & Statistical Professionals

Mathematical and statistical professionals use advanced quantitative methods to solve complex problems across industries like insurance, healthcare, business, and research. These specialists analyze data, develop mathematical models, and apply statistical theories to forecast risks, optimize operations, and inform critical decision-making. They work in corporate settings, government agencies, research institutions, and consulting firms where their expertise drives strategic planning and scientific advancement.

Median Annual Pay
$93,507
Range: $38,400 - $209,310
Training Time
5-7 years
AI Resilience
🟡AI-Augmented
Education
Master's degree

🎬Career Video

🤖AI Resilience Assessment

AI Resilience Score

Score 3/6: high AI task exposure, growing job demand means AI will assist but humans remain essential

🟡AI-Augmented

How we calculated this:

AI Exposure
High+0

63% of tasks can be accelerated by AI

Job Growth
Growing+2

+22% projected (2024-2034)

Human Advantage
Moderate+1

EPOCH score: 15/25

Total Score3/6
Methodology: v2.0 - GPTs are GPTs / BLS / EPOCH Additive ScoringUpdated: 2026-01-09

📋Key Responsibilities

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.

💡Inside This Career

Mathematical and statistical professionals spend their days immersed in the world of numbers, patterns, and data-driven problem solving. A typical morning might begin with reviewing datasets, refining mathematical models, or diving into complex calculations that could range from predicting insurance risks to optimizing supply chain operations. These professionals work across diverse environments—from quiet research labs and corporate offices to hospitals and government agencies—each bringing quantitative rigor to their organization's most challenging questions. Much of their time involves translating real-world problems into mathematical frameworks, whether that means developing algorithms to analyze genetic sequences, creating statistical models to forecast market trends, or building optimization systems to improve manufacturing processes.

Collaboration forms a crucial part of their daily routine, as mathematical and statistical professionals regularly interface with colleagues from other disciplines. They might spend afternoon hours in meetings with business stakeholders, explaining complex analytical findings in accessible terms, or working alongside researchers, engineers, and decision-makers to implement their mathematical solutions. The work often alternates between deep, focused analysis—requiring hours of uninterrupted concentration on intricate calculations or coding—and dynamic project phases involving data collection, model validation, and results presentation.

Technology serves as both tool and canvas for their work, with professionals utilizing specialized software, programming languages, and statistical packages to bring their mathematical insights to life. Whether developing new theoretical frameworks, conducting rigorous data analysis, or designing predictive models that will guide organizational strategy, these professionals bridge the abstract world of mathematics with practical applications that drive innovation and informed decision-making across industries.

📈Career Progression

What does this mean?

This shows how earnings typically grow with experience. Entry level represents starting salaries, while Expert shows top earners (90th percentile). Most workers reach mid-career earnings within 5-10 years. Figures are national averages and vary by location and employer.

1
Entry (10th %ile)
0-2 years experience
$38,400
$34,560 - $42,240
2
Early Career (25th %ile)
2-6 years experience
$60,443
$54,399 - $66,487
3
Mid-Career (Median)
5-15 years experience
$93,507
$84,156 - $102,858
4
Experienced (75th %ile)
10-20 years experience
$151,409
$136,268 - $166,550
5
Expert (90th %ile)
15-30 years experience
$209,310
$188,379 - $230,241

📚Education & Training

Requirements

  • Entry Education: Master's degree
  • Experience: Extensive experience
  • On-the-job Training: Extensive training
  • !License or certification required

Time & Cost

Education Duration
5-7 years (typically 6)
Estimated Education Cost
$86,378 - $332,928
Public (in-state):$83,592
Public (out-of-state):$173,016
Private nonprofit:$343,332
Source: college board (2024)
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💻Technology Skills

Microsoft ExcelSQLPython/RActuarial software (GGY AXIS)Power BISAS/SPSSMATLABPythonRLaTeXC/C++Mathematical modeling software (Mathematica, Maple)Optimization software (CPLEX, Gurobi)Simulation/modeling toolsData visualization tools (Tableau)

Key Abilities

Mathematical Reasoning
Inductive Reasoning
Number Facility
Oral Comprehension
Written Comprehension
Oral Expression
Written Expression
Deductive Reasoning
Category Flexibility
Problem Sensitivity

🏷️Also Known As

Mathematical & Statistical ProfessionalsActuarial AnalystActuarial AssociateActuarial ConsultantActuarial InternActuarial MathematicianActuarial SpecialistActuaryAnnuity AnalystConsulting Actuary+20 more

📑Math & Stats Roles

This career includes 7 specialized roles with different focuses and compensation levels.

🔗Related Careers

Other careers in technology

🔗Data Sources

Last updated: 2026-01-09

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