Will a Master's in Applied Math Open Doors Beyond Teaching?

[semidevil]

right now, I am a senior getting a BA in math this summer, and after that, I will try to apply and get my masters in applied math, i.e, statistics. After getting that masters degree, will it be easy to find a job? I really like statistics, and want to get a job diong this kind of stuff...how are the job outlooks these days for math majors and ones who specializes in statistics? Is it still "You can only teach" type of thing, or will I have many doors open?

 

[HallsofIvy]

Statistics is, generally speaking, a good area for employment. Many companies employ statisticians for "quality control" or testing. How much real "math" is involved, I can't say. Of course, insurance companies employ actuaries which are basically statisticians working in insurance. I, at one time, considered a job as an actuary but decided it just wasn't what I was interested in. I've been much happier teaching, but that's me!

 

[semidevil]

Statistics is, generally speaking, a good area for employment. Many companies employ statisticians for "quality control" or testing. How much real "math" is involved, I can't say. Of course, insurance companies employ actuaries which are basically statisticians working in insurance. I, at one time, considered a job as an actuary but decided it just wasn't what I was interested in. I've been much happier teaching, but that's me!

yea, to tell you the truth, I want to teach too...but only at college level...and the idea of studying for a ph.D...kind of gives me mixed feelings.

I think I would enjoy studying and learning for years and years, and doing research...but wow...I don't want to be in school for *that* long...since I"m getting married soon, and need to worry about financial things.

something I always wonder...while students study for their doctoral degree. how do they make money? I know that lots and lots become T.A's and teach classes and all that...but when you go for your ph.D, do students usually have time for a *real* full time job??

 

[juvenal]

but when you go for your ph.D, do students usually have time for a *real* full time job??

A real full time job will probably lead to one of two things:

(1) You spend so little time at your research that your advisor drops you.

(2) You spend the next 10-15 years in grad school.

 

[poolwin2001]

For job opportunities check out alumni of Indian Statistical Institute at http://www.isical.ac.in/~isiaa/isiaalist.html
Some random ones are:
Senior Economic Investigator,Economic Research Section
Dy. Director, Planning & Research Dept,Kolkata Port Trust
Indian Institute of Psychometry
Department of Biostatistics, University of Washington, Seattle
Programmer/ORA, Management Service Dept
National Institute of Bank Management
Statistician, U.S. Food and Drug Administration

 

[semidevil]

A real full time job will probably lead to one of two things:

(1) You spend so little time at your research that your advisor drops you.

(2) You spend the next 10-15 years in grad school.

wow, so with the stipends that the school give you for TA/GA's and all that, is it enough to live on? or 2 people? I read that it is around 7000 USD or so per semester right?

just kind of wondering because this will definanalty factor into my future.

 

[juvenal]

wow, so with the stipends that the school give you for TA/GA's and all that, is it enough to live on? or 2 people? I read that it is around 7000 USD or so per semester right?

just kind of wondering because this will definanalty factor into my future.

Stipends vary from place to place. I think less prestigious places may pay less.

I would suggest your wife work. And hold off on having kids.

If not, then:

(1) Find an adviser that has a great track record of graduating students in 5 years or less. The sooner you graduate, the faster you'll make more money. This will also require hard work on your part, as well as focus and discipline. Don't be a martyr and spend time on insignificant details and dead-end side tangents in your research - IF you want to graduate reasonably promptly.

(2) Find a university that has guaranteed (for your entire grad school stay) subsidized housing for married couples. Single students can save money by finding roommates. That's usually not an option for married couples.

(3) Find a university located somewhere where a car isn't really needed or where the inconvenience factor (for you) of not having a car isn't too great.

(4) Do some part-time tutoring/teaching/grading. Some departments do have extra opportunities for teaching and grading.

 

[jtbell]

wow, so with the stipends that the school give you for TA/GA's and all that, is it enough to live on? or 2 people? I read that it is around 7000 USD or so per semester right?

$7000 per semester sounds about right. I certainly wouldn't try to support two people on it, though. It's not intended for that.

At the end of my grad school period, I think I was making about $7000 per year, but that was about 20 years ago. Also, I was still single, and I shared an apartment with another grad student. I didn't own a car until my last year in grad school, when my parents made me a present of their old VW Beetle.

What with all that, I actually did pretty well on my stipend. I never went hungry, and I even managed to travel to Europe a couple of times (sleeping at friends and relatives, or in hostels, of course :-)

 

[Gza]

IMHO, I find it pretty sad to take all the time learning all that math, at the expense of enjoying other facets of life, only to end up teaching that to other students, without ever applying the knowledge directly yourself. But, to each his own, I guess :)

 

[mmapcpro]

Teaching should only be a segment of what a PhD does for a living.

Think about it.