You always want to work in a field that excites you. Most individuals are looking for a rich career path that will last for years or even decades, and that means picking a high-paying profession that is in demand today and will remain in high demand for many years to come. If you intend to pursue a career in the near future, how can you know what kinds of positions will be available now? Fortunately, you don’t have to make any educated guesses about the outcome. The Bureau of Labor Statistics releases annual employment forecasts for each particular occupation every year over a ten-year period.
No matter how accurate the most current estimates, which are based on models based on historical data until 2019, are, they don’t take into consideration the COVID-19 pandemic. However, the BLS growth predictions can offer you an idea of the long-term direction for many different occupations.
The frameworks created by data scientists allow firms to acquire, organize, and analyze data and then use that data to make better business decisions. Data trials, statistical models and algorithms, data products, and framework optimization can all be part of the job description, depending on the company’s requirements. A bachelor’s degree in math, engineering, statistics, computer science, engineering, or a related discipline is usually required for jobs in data science (and many companies prefer their data scientists to hold an advanced degree).
The objective of an industrial engineer is to make a product or process more productive and efficient. For example, they employ mathematical methods to analyze people, systems, and processes in a company, including supply chains and operations, finance, and machinery or equipment. Ultimately, they want to find out the most efficient method to combine the many systems and processes required to provide a product or service.
They are in charge of ensuring that firms maintain minimal operating expenses while still maintaining high levels of productivity in order to meet their set objectives. A bachelor’s degree in industrial engineering or somewhat similar discipline is required to become an industrial engineer, and many go on to get further degrees in the profession.
Actuaries are in charge of assessing risk and frequently work for insurance providers. Regarding the choice of whether or not a policy should be provided to a potential client, whether they are an individual or a corporation, actuaries utilise math, data, and statistics. They also use this information to figure out what the premium should be. Health, life, property/casualty/compensation, worker’s vehicle, and medical malpractice insurance are some of the types of insurance that actuaries evaluate.
If you need to work as an actuary, you’ll need a degree in actuarial science or a related discipline (such as math or statistics). It also takes years of rigorous testing to become certified by the Casualty Actuarial Society (CAS) or the Society of Actuaries (SOA) to become an actuary.