As a theoretical mathematician, one studies and tests new mathematical ideas or theories. They develop new principles and recognize previously unknown relationships between the existing principles of mathematics that advance mathematical knowledge. Theoretical mathematicians are often employed as university faculty, where they teach and conduct research.
Applied mathematicians use math theories and techniques to formulate and solve problems that apply to science, computers, economics, engineering, and other fields. When solving difficult problems within industrial research and development, applied mathematicians may develop or even enhance mathematical methods.
Actuaries are very essential to the insurance industry. Actuaries assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability, or loss of property. Actuaries help design insurance policies, pension plans, and other financial strategies contributing their broad knowledge of statistics, finance, and business.
Insurance and Securities
Statisticians apply their mathematical and statistical knowledge to designing surveys and experiments. They collect, process, and analyze data; and then interpret the results by advising on the strengths and weaknesses. Statisticians may use their knowledge in a variety of subject areas that include biology, economics, engineering, medicine, public health, psychology, marketing, education, and sports.