Mathematics Career Insight by LJMUCareers

Mathematics CAREER INSIGHT

LJMU CAREERS TEAM 0151 231 2048/3719 ❚ careers@ljmu.ac.uk

www2.ljmu.ac.uk/careers

Career Insight: BSc (Hons) Mathematics

Contents Page 1

Introduction

Pages 1 - 4

Career options for Maths students and graduates

Pages 5 - 6

Postgraduate study and possible Employers

Pages 6 - 8

Useful Links

Pages 8 â&#x20AC;&#x201C; 9

Work experience and Recruitment

Page 10

Key events and Networking

Page 10

Accessing support in the Careers Zones

Introduction Your degree in Mathematics will help you develop skills in analysis, statistics, mathematical modelling, and problem solving, which will help you in a wide range of careers. With the right work experience you will be in a good position to enter careers in risk analysis, accountancy, finance, banking and investment, insurance, IT, statistics, data analysis or more general business areas, or even aerospace engineering. Planning for your career and gaining work experience throughout your course will benefit you when you graduate. The graduate labour market has become increasingly competitive so it is crucial that you gain plenty of work experience during your time at university to demonstrate that you are motivated and have the right skills. Take advantage of networking opportunities and look at other ways to develop your skills and achievements by taking on volunteering and other extra-curricular activities. You should also consider setting up a LinkedIn profile and following relevant organisations and jobs boards through Twitter. Many employers use social media to post work experience opportunities so take advantage of using the sites to help you make links and find out more about what opportunities are out there. It is important that you understand what employers look for in candidates so that you can ensure you meet their entry requirements. Make the most of utilising available resources, attend career events or employer talks, and take every opportunity to network with professionals to find out as much as possible about the career areas you are interested in.

Typical job options There is an extremely wide range of employers who recruit Mathematics students and graduates and the skills that students can offer are in demand in a variety of sectors. The key for students is to consider the application of their analytical and problemâ&#x20AC;&#x201C;solving skills within the commercial world and to explore opportunities that exist outside of the usual finance and education environments. Recent graduates from the course have gone on to

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Career Insight: BSc (Hons) Mathematics

forge successful careers in roles such as: Marketing/Financial/Business Analyst, Accounts Manager, Insurance Broker Consultant, Pensions Associate, Nuclear Research Analyst, Systems Engineer, Audit Associate as well as undertaking teacher training and IT roles. These roles have been secured at organisations such as Sellafield, Mercer, BAE Systems, the NHS, Shop Direct, GE, Ernst and Young and Unilever amongst others. The following information summarises some of the more common options but it is important to start researching your options early and the organisations who offer opportunities. The two main graduate careers websites (Prospects and TargetJobs) both have useful overviews of options available for Maths students and a short summary of this information is included below: 

www.prospects.ac.uk/options_mathematics.htm

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https://targetjobs.co.uk/careers-advice/degree-subjects-your-options

Statistician/Analyst Statisticians deal with collecting, interpreting and presenting statistical information, looking for patterns and trends to help influence decision making in areas such as finance, health, education, government and the environment. Through the use of mathematical methodologies and software statisticians analyse and present this complex data via a variety of formats to clients in a way that can be understood by non-specialists. Medical Statistician roles exist in both the NHS and Pharmaceutical industry. Data Scientist This job title appears to be replacing the more traditional Data Analyst role and is a result of the amount of data that new technology produces and the need to collect, analyse and interpret this – it has been suggested that 90% of all data was created in the last two years. A Data Scientist is seen as part Mathematician and part business strategist who is inquisitive and can examine data and spot trends. Opportunities exist in a range of sectors from energy companies to digital media companies analysing social media trends. Roles in Accountancy and Finance Many Mathematics graduates look to pursue careers in the finance industry, as well as related sectors such as tax, insurance, pensions and banking. Typical job roles could include: Chartered Accountant – Chartered accountants offer financial advice, audit accounts and provide trustworthy information about financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes. They can play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer. Chartered Management Accountant - A chartered management accountant prepares, develops and analyses key financial information to ensure that an organisation's management makes well-informed decisions to ensure future stability, growth and

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Career Insight: BSc (Hons) Mathematics

profitability. They establish and maintain financial policies and management information systems, as well as provide a high quality support service by liaising with management colleagues on all aspects of finance. Financial Adviser/Manager - Financial advisers provide clients with specialist advice on how to manage their money. The role involves researching the marketplace and recommending the most appropriate products and services available, ensuring clients are aware of and understand products that best meet their needs and then securing a sale. Advisers may specialise in particular products, depending on their clients, such as selling employee pension schemes to companies or offering mortgage, pension or investment advice to private clients. Others are generalists, offering advice to clients in all of these areas, as well as saving plans and insurance. Actuary - Actuaries evaluate, manage and advise on financial risks. They use their knowledge of business and economics, together with their understanding of probability theory, statistics and investment theory, to provide strategic, commercial and financial advice. The core of actuarial work lies within pensions and insurance, where professionals are most likely to start off; however, later on in your career there are opportunities to move into other emerging fields such as investment, healthcare and banking. Investment Banker - Corporate investment bankers provide a range of financial services to companies, institutions and governments. They manage corporate, strategic and financial opportunities, including: mergers; acquisitions; bonds and shares; lending; privatisations; initial public offerings (IPOs). Corporate investment bankers also advise and lead management buyouts, raise capital, provide strategic advice to clients, and identify and secure new deals. Tax Adviser - Tax advisers use their knowledge of tax legislation to provide advisory and consultancy services to clients, ensuring that they pay their taxes in the most efficient way and benefit from any tax advantages and exemptions. They keep up to date with changing tax laws and explain complicated legislation and its implications to their clients in simple terms. Financial sector information:  www.insidecareers.co.uk/professions/banking/advice/areas-of-work/  www.directions.org.uk/careers/  http://targetjobs.co.uk/career-sectors/accountancy-and-financial-management  http://targetjobs.co.uk/career-sectors/investment-banking-and-investment Your options within the wider business and management sector include roles in marketing and PR, human resources, logistics, general management or retail management. Teaching

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Career Insight: BSc (Hons) Mathematics

There is currently a big push from the government to encourage graduates with the appropriate skills and knowledge to become Maths teachers in both Primary and Secondary schools. Maths is currently classed as a ‘shortage’ subject meaning that there are generous bursaries available for those interested in undertaking teacher training through either the PGCE/PGDE or School Direct route. The more established PGCE route is where you will be based at a University undertaking an academic course but will also undertake school placements as part of your course. The School Direct route is based within a school but there may also be opportunities to undertake a PGCE at a local University. Further information can be found www.education.gov.uk/get-into-teaching

the

‘Get

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Teaching’

website

The Institute of Mathematics and its Application (IMA), in collaboration with the London Mathematical Society (LMS), the Royal Statistical Society (RSS) and Mathematics in Education and Industry (MEI), has teacher training scholarships of £25,000 available to maths trainees starting their teacher training in the 2016/17 academic year. For further information visit - www.ima.org.uk/careers/teacher_scholarships.cfm.html Applications Programmer Mathematicians are well-suited to entering careers in programming where you will write code to create software applications. Gaining relevant IT work experience and getting to grips with a number of programming languages, including C++ and Java will help you progress in this area. Quantity Surveyor A quantity surveyor manages all costs relating to building and civil engineering projects, from the initial calculations to the final figures. Surveyors seek to minimise the costs of a project and enhance value for money, while still achieving the required standards and quality. There has been a high demand for Quantity Surveying students and graduates during the past few years and employers have advertised positions for graduates from other subject areas with the opportunity to undertake further study to become a Chartered Quantity Surveyor. Being a graduate from a numerate course will obviously be an advantage in this role. Other options The suggestions listed previously are by no means exhaustive, so we would encourage you to consider other relevant options, e.g. based on previous work or voluntary experience, skills and interests. To explore job options by sector, check www.prospects.ac.uk/types_of_jobs.htm. You can also use career planning tools like www.prospects.ac.uk/myprospects_planner_login.htm and http://targetjobs.co.uk/careersreport to generate initial career ideas. You Careers Adviser, Andy Byrne, will also have information regarding opportunities with your degree in Mathematics. In addition to teaching, finance and analytical roles opportunities are available with logistics and operations, transport, energy, real estate, construction, engineering, and retail organisations for example.

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Career Insight: BSc (Hons) Mathematics

Ensure you check entry requirements for each area, e.g. will you need a degree in a specific subject? Is a 2:1 degree classification essential? Is any specific work experience required?

Postgraduate Study Maths students can expand their knowledge in a particular branch of mathematics by studying further at Postgraduate level. University departments may have postgraduate courses related their specific research interests and so it will be useful to explore a wide range of universities to investigate the options available. Example of Postgraduate courses include: Applied Social Statistics, Data Science, Mathematical Modelling for Transport, Financial and Actuarial Mathematics, Applied Mathematics. It may also be possible to enter alternative professions by undertaking further study to convert to a new career path. For example, an MSc Quantity Surveying and Commercial Management or MSc Facilities Management qualification may assist you in securing employment in these areas. Alternatively, undertaking a Graduate Diploma in Law or similar will enable you to explore law as a possible career path. It is useful to explore the option of further study whilst you are in your second or third year of the degree as some employers may support you with funding postgraduate study. The government recently announced the launch of a Postgraduate student loan scheme which will be introduced for the 2016/17 academic year to provide financial support for students.

Possible employers Maths graduates are in demand by a wide range of employers in a number of sectors but it is still important to start researching your options early as the roles can be extremely varied. To help you start your research, alongside this Career Insight, the Careers Team has produced a document which lists a selection of the employers who advertise vacancies for Maths students and Graduates. Statisticians and Analysts work across a variety of sectors but some of the main employers include:  Office for National Statistics (ONS)  Banking  NHS  The Department of Health  Market research companies  Professional Services/Accountancy e.g. PEC, Deloitte, Ernst & Young, KPMG  Governmental statistical agencies e.g. GORS  GCHQ (Intelligence analysis)  HMRC (Tax)  Regional health authorities  Medical registries  Industrial, pharmaceutical and commercial companies  Publicly funded research councils  Educational bodies

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Career Insight: BSc (Hons) Mathematics

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Higher Education Funding Council for England (HEFCE) Energy companies e.g. Centrica, Eon, National Grid Digital Marketing agencies (analysing data from social media)

Programmers find employment in the following areas:  IT, tech or software consultancy firms  Telecommunications companies  Financial institutions  Engineering companies  Commercial and industrial organisations  The Civil Service Accountants and finance staff work in all sectors and industries in organisations of all sizes – the main employers are accountancy firms (including both large international organisations such as the ‘Big Four’ KPMG, Ernst & Young, PwC and Deloitte, as well as small and medium practices or SMEs) providing a range of accountancy, tax and business services to clients, commercial companies in the manufacturing and retail sector, as well as public sector employers like central and local government, higher education institutions (HEIs) and the NHS. The NHS offers a Finance graduate training scheme (www.nhsgraduates.co.uk/thescheme/specialisms/financial-management.aspx); some local councils run graduate training schemes (www.staffordshire.gov.uk/jobs/graduates/cipfa/FinanceManagementTraineeScheme.aspx) on a regular basis, whereas others will advertise trainee/junior accounting and finance positions when required, so it is worth keeping an eye on individual council websites if you are interested in working in this environment, or contact local councils directly to enquire about relevant opportunities and where these are usually advertised. Many large private companies also run relevant graduate schemes, for example, Rolls-Royce, Network Rail, Unilever, Co-operative, Aon, Aviva, RBS amongst others. Due to the wide range of industries that offer opportunities we would advise you to research additional employers from the sectors you are particularly interested in. Most of these employers will support you to pursue relevant professional qualifications alongside the graduate programme and provide you with a mentor. Ensure you check individual employers’ websites for details. All occupational profiles listed on www.prospects.ac.uk/types_of_jobs.htm include a section on typical employers and vacancy sources, so use these as a starting point to research potential employers within additional career areas that interest you.

Useful links and websites  

LJMU Vacancy website - http://ljmu.prospects.ac.uk/ Maths Careers - www.mathscareers.org.uk/

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Career Insight: BSc (Hons) Mathematics

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Prospects – Careers information and graduate jobs - www.prospects.ac.uk/ TargetJobs – Careers information and graduate jobs - http://targetjobs.co.uk/ Gradcracker – Careers information and graduate jobs in Engineering, Technology and Science – www.gradcracker.com Year in Industry - www.etrust.org.uk/year_in_industry.cfm - Scheme linking students and employers who are offering yearlong placements in STEM industries (Science, Technology, Engineering and Maths) Rate my Placement – placement opportunities - www.ratemyplacement.co.uk Milkround – Graduate jobs, placements & internships - www.milkround.com Jobs in the public sector - www.lgjobs.com, www.jobsgopublic.com Graduate to Merseyside - www.graduatetomerseyside.co.uk - Project based at University of Liverpool offering placement opportunities to graduates. Graduate Talent Pool – Graduate internship opportunities http://graduatetalentpool.direct.gov.uk Directions – information about careers in the finance sector provided by the Financial Skills Partnership - http://www.directions.org.uk/careers Inside Careers - information about careers in banking and investment, chartered accountancy, insurance and pensions, tax and as an actuary www.insidecareers.co.uk/professions Targetjobs IT and Technology - http://targetjobs.co.uk/career-sectors/it-andtechnology Targetjobs Accounting, Finance and Investment Banking targetjobs.co.uk/career-sectors/accountancy-and-financial-management targetjobs.co.uk/finance targetjobs.co.uk/career-sectors/investment-banking-and-investment Institute of Mathematics and its Applications - www.ima.org.uk www.travelsinamathematicalworld.co.uk – Series of maths-related podcasts including a number of the variety of roles that Maths graduates can undertake Statisticians in the Pharmaceutical Industry - www.psiweb.org This is Statistics – http://thisisstatistics.org Professional bodies for accountancy www.accaglobal.co.uk www.cimaglobal.com www.icaew.com www.cipfa.org Association of Professional Financial Advisers - www.apfa.net Chartered Institute of Taxation - www.tax.org.uk Chartered Insurance Institute - www.cii.co.uk Discover Risk – information about careers in the insurance industry www.discoverrisk.co.uk

Follow relevant companies/websites through Twitter:  @LJMUCareers  @Prospects  @targetjobsUK

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Career Insight: BSc (Hons) Mathematics

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@InsideCareers @CIMA_News, @CIPFA, @ICAEW, @ACCANews @BloombergNews @ComputerWeekly @ITrecruitmentUK @AByrneLJMU

Sources of work experience As part of the degree programme you will have the opportunity to complete a work placement. Lucy Tweedle is the dedicated member of staff who works alongside employers looking to recruit students to placement positions. Lucy will email vacancies direct to students and also place them within a specific Blackboard placements site. LJMU has been managing a summer internship programme for Level 5 students in recent years, so keep an eye on your LJMU inbox for details of any opportunities and check our vacancy website: http://ljmu.prospects.ac.uk/. Gaining work experience is really important for your future career so you should definitely consider this option. Many of the large recruiters have summer and year-long placement opportunities available to those on degree programmes, which are usually advertised through websites such as Targetjobs, Milkround, Rate My Placement and Gradcracker, as well as on the organisations’ own websites. Many placement schemes are open to students from any degree discipline. Check your eligibility before making an application, e.g. some summer placements are specifically aimed at second-year students. Applications for summer internships or year-long placements with large employers are very competitive, so involvement in extracurricular activities, voluntary work or previous work experience can give you the edge over other candidates. It’s never too early to start getting involved in clubs and societies or to gain work experience, so explore relevant options early on in your studies. Many societies/clubs through LiverpoolSU have a finance officer/treasurer, which would give you some initial experience in areas like budget management, for example. Contacting relevant organisations directly via email or through LinkedIn or speaking with people at networking events may lead to work experience. Even when applying to secure work experience for the first time in this industry, show the employer what you have to offer. Briefly outline the relevancy of your course. Address the job’s person specification and look at the skills outlined above and evidence these in your CV, drawing on examples from your course and other work experience or extra-curricular activities to demonstrate these skills. Make sure you research the organisation beforehand and find out the best person to get in touch with. It is important that you demonstrate that you are interested in the organisation and have spent some time finding out what they do. Useful websites to research a range of voluntary opportunities include www.do-it.org.uk/ and https://www.liverpoolguild.org/main-menu/volunteer. Many charities and not-for-profit organisations require volunteers for trustee or treasurer positions. You could also contact LJMU Volunteering Manager Chris Prescott on 0151 904 6356 or c.j.prescott@ljmu.ac.uk to

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Career Insight: BSc (Hons) Mathematics

enquire about current opportunities. It is also worth researching relevant organisations/charities and contacting them directly to find out about voluntary roles on offer.

Recruitment schedule Recruitment cycles and deadlines will vary depending on the type of work you are applying for. Again, research is key to ensure that you do not miss relevant opportunities. Generally, the selection process takes longer in larger organisations, as they tend to receive a higher number of applications and use several different stages to reduce the number of potential candidates. As a result, application deadlines can be as early as October/November in your final year of study for a start date in August or September of the following year. If you are considering postgraduate study, find out if there are any specific closing dates for applications. Many graduate training schemes with large companies will accept applications from students of any degree background. The application process for graduate training schemes usually involves completing an online application form, which may require you to answer ‘competency based questions’. This may be followed by psychometric tests, a telephone interview and an assessment centre. You may also need to submit your CV. Most of the large recruiters have a section on the student/graduate pages of their website that outlines the different steps of their selection process, so check these to find out what is required. For more information about graduate schemes, download the ‘Graduate Schemes’ guide from https://www2.ljmu.ac.uk/careers/123871.htm. The Careers Team runs a “Graduate Schemes Uncovered” workshop on a regular basis – please check our events pages on https://worldofwork.ljmu.ac.uk/events for details. Many of these opportunities are advertised in the Prospects Directory and the Targetjobs Directory (available from the Careers Zones or on the Prospects and Targetjobs website), on websites like www.gradcracker.com www.milkround.com or www.ratemyplacement.co.uk, as well as on the organisations’ own websites. You may also find work through small and medium-sized enterprises/businesses (SMEs). These types of companies don’t usually have structured training schemes but will recruit ‘as required’. Some SMEs may use their own application form but most applications will be by CV and covering letter. Making contacts and approaching organisations speculatively to look for work is a common route into employment. For more information about the speculative approach to job hunting, download a copy of our guide to ‘The Hidden Jobs Market’ from https://www2.ljmu.ac.uk/careers/123871.htm. You can get advice about the recruitment process by booking a one-to-one appointment with a careers or employability adviser. Call in to the Careers Zone on the ground floor in Byrom Street for advice and to arrange a meeting. You can also attend relevant workshops and webinars (online classes) organised by the Careers Team.

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Career Insight: BSc (Hons) Mathematics

Key events and networking 

The Faculty of Engineering and Technology Careers Fair : usually held in October each year

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Liverpool Careers Fair: usually held in the autumn and spring of each year, see fairs website www.liverpoolfairs.org.uk for additional events

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LJMU Accounting & Finance Fair: usually held in October each year

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Manchester Careers Fairs: open to students and graduates from any university; check www.careers.manchester.ac.uk/students/events for details

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Careers and Employability events at LJMU: Keep an eye on our events pages at https://worldofwork.ljmu.ac.uk/events for details of upcoming employability workshops, networking sessions and employer talks.

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LiverpoolSU Clubs and Societies: http://ljmu.unioncloud.org/groups#club-society

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LinkedIn: You could also consider setting up a LinkedIn account (www.linkedin.com) to network online with professionals and organisations in your chosen industry

Centre for Entrepreneurship The Centre for Entrepreneurship supports students and graduates who want to set up their own businesses. Whether you want to develop a new business idea, work as a freelancer or launch a product or service, the Centre for Entrepreneurship can help. To book a place at one of their free workshops or a confidential business advice session with one of their business advisers, call 0151 231 3300 or visit their website https://www2.ljmu.ac.uk/startup/

Careers Zones Campus-based Careers Zones provide easy access to careers support in convenient locations at Byrom Street, Aldham Robarts Library and at IM Marsh, staffed by the Careers Team. Support available includes CV and application form reviews, Careers Adviser appointments, drop-in quick queries, practice interviews and access to careers resources and information. The Zones also host regular employer visits during term time where you can meet and network with employers and discuss job and placement opportunities. For the latest updates and details of locations and opening times, try our Twitter and Facebook pages.

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