Advice for Math Grad Students
Looking for a Job at a Company
Since several of my students went to work in the private sector, I'm becoming
more knowledgeable about this issue. If you can give me advice, please contact
me (Carl Mueller) at
mathmath carlm e4ward commath
Here are points to keep in mind.
Preparation is important. Decide which kind of company you want to work
for, and get the appropriate preparation. For instance, you might take some
computer science or statistics courses, or take some of the actuarial exams.
One of my students took the exam to become a certified financial analyst.
The
IMA (Minnesota),
PIMS (Canada),
and
MSRI (Berkeley)
run summer workshops or internships on
industrial mathematics for math graduate students. Participants are divided
into teams. Under the direction of a mathematician from industry, each team
attacks an applied problem. This is an excellent opportunity to make contacts,
as well as to see whether you would like to work for a company.
Industrial jobs are not easier to get than academic jobs. For any given job,
whether industrial or academic, the chances are low. But in industry there
are many more jobs available, so your overall chances are higher. Plan to
spend at least 6 months looking for a job, and don't feel badly when you are
rejected. It will happen many times.
Personal contacts are much more important than in academia. Many jobs in
companies are not even advertised. Try to contact former graduate students
who now work in industry.
Unfortunately, it's important to be a permanent resident. If you are not, you
may have to take a less desirable job at first.
Here are some industries where you might look for jobs. This is an incomplete
list, so use your imagination.
- Medicine: Hospitals (biostatistics), Drug Companies. Demand is high.
- Labs: Government Labs or Private Companies that compete for
government contracts.
- Computers: Many companies need programmers, and demand seems to be
recovering after the dot-com bust of 2000. There are signs of demand for
mathematical skills beyond simple programming. For example, Google uses
mathematical algorithms in its search tools.
- Finance: Banks, Insurance Companies, Brokerages. The pay is high.
Financial Math is popular, but work conditions can be stressful. Be sure to
also consider jobs such as actuarial work.
Wall Street may not be hiring during the current financial panic!
More information on financial math:
Here is recent advice from someone who got offers on Wall Street.
Companies may give you a written test. You need to:
- Learn C++
- Know Shreve, Stochastic Calculus Models for Finance: Continuous Time Models
- Know Hull, Options, Futures, and Other Derivatives
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