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# BS/MS in Applied Statistics and Actuarial Science + Applied and Computational Mathematics

An accelerated dual degree program that allows students to earn a BS and an MS with one additional year of graduate study.

This program provides a strong foundation in mathematical and statistical methods, experience in its applications, a solid background in the use of statistical computing packages, and the skills to communicate the results of statistical analysis.

To view a more detailed list of courses for this program, click here.

Students complete the requirements for the BS and the MS simultaneously.

Mathematicians use mathematical theory, computational techniques, algorithms, and the latest computer technology to solve economic, scientific, engineering, physics, and business problems. The work of mathematicians falls into two broad classes — theoretical (pure) mathematics and applied mathematics. These classes, however, often overlap. Applied mathematicians start with a practical problem, envision its separate elements, and then reduce the elements to mathematical variables. They often use computers to analyze relationships among the variables, and they solve complex problems by developing models with alternative solutions.

(Source: U.S. Bureau of Labor Statistics Occupational Outlook Handbook)

A Ph.D. degree in mathematics usually is the minimum education needed for prospective mathematicians, except in the Federal Government. In the Federal Government, entry-level job candidates usually must have a 4-year degree with a major in mathematics or a 4-year degree with the equivalent of a mathematics major. Outside the Federal Government, bachelor's degree holders in mathematics usually are not qualified for most jobs, and many seek advanced degrees in mathematics or a related discipline. However, bachelor's degree holders who meet State certification requirements may become primary or secondary school mathematics teachers. The majority of those with a master's degree in mathematics who work in private industry do so not as mathematicians but in related fields. For jobs in applied mathematics, training in the field in which mathematics will be used is very important. Mathematics is used extensively in physics, actuarial science, statistics, engineering, and operations research. Computer science, business and industrial management, economics, finance, chemistry, geology, life sciences, and behavioral sciences are likewise dependent on applied mathematics. Mathematicians also should have substantial knowledge of computer programming, because most complex mathematical computation and much mathematical modeling are done on a computer.

(Source: U.S. Bureau of Labor Statistics O.O.H.)

Employment of mathematicians is expected to grow much faster than the average. However, keen competition for jobs is expected. Employment of mathematicians is expected to increase by 16 percent during the 2010–20 decade. Advancements in technology usually lead to expanding applications of mathematics, and more workers with knowledge of mathematics will be required in the future.

(Source: U.S. Bureau of Labor Statistics O.O.H.)

Average Range

Co-op: $18.00 $15.00-$37.00

MS: $60,181 $46,000-$75,000

[Note: Most often the work involving applied mathematics is done by persons whose titles are other than “mathematician”] Engineer, Economist, Analyst (e.g. Operations Research), Physicist, Cryptanalyst (codes), Actuary, Teacher, Market Researcher, and Financial Advisor.

Mathematicians held about 3,000 jobs in 2010 (many people with mathematical backgrounds worked in other occupations). Many mathematicians work for federal or state agencies. The Dept. of Defense accounts for about 81% of the mathematicians employed by the Federal Government. In the private sector mathematicians are employed by scientific R&D services, software publishers, insurance companies, and in aerospace or pharmaceutical manufacturing.

(Data Source: U.S. Bureau of Labor Statistics Occupational Outlook Handbook)

Mathematicians held about 3,000 jobs in 2010 (many people with mathematical backgrounds worked in other occupations). Many mathematicians work for federal or state agencies. The Dept. of Defense accounts for about 81% of the mathematicians employed by the Federal Government. In the private sector mathematicians are employed by scientific R&D services, software publishers, insurance companies, and in aerospace or pharmaceutical manufacturing.

(Data Source: U.S. Bureau of Labor Statistics Occupational Outlook Handbook)