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.
🎬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
How we calculated this:
63% of tasks can be accelerated by AI
+22% projected (2024-2034)
EPOCH score: 15/25
📋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.
📚Education & Training
Requirements
- •Entry Education: Master's degree
- •Experience: Extensive experience
- •On-the-job Training: Extensive training
- !License or certification required
Time & Cost
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Find jobs and training programs for mathematical & statistical professionals- Median salary: $94K/year
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💻Technology Skills
⭐Key Abilities
🏷️Also Known As
📑Math & Stats Roles
This career includes 7 specialized roles with different focuses and compensation levels.
| Specialization | Median Pay | AI Outlook | O*NET Code | Find Jobs | Details |
|---|---|---|---|---|---|
| $120,000 | 🟡 | 15-2011.00 | View details | ||
| $116,440 | 🔴 | 15-2021.00 | View details | ||
| $104,110 | 🟡 | 15-2041.01 | View details | ||
| $104,110 | 🟡 | 15-2041.00 | View details | ||
| $83,640 | 🟡 | 15-2031.00 | View details |
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