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How much mathematics consulting work is available?

I'm looking at majoring in Applied Mathematics. I know that there is some consulting that mathematicians do for large businesses or government organizations. How much does consulting contribute to your salary? How often can you get consulting work? #mathematics #consulting #statistics #applied-mathematics #financial-planning

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Alan’s Answer

See Quantum Black for data analytics opportunities at Mckinsey where you would be leveraging applied math to build models to derive insights from large data sets. Beyond the specific skills, however, the problem solving mindset you will develop from studying applied math will be helpful in any business context!
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Joe’s Answer

I got my B.S. in Applied Math and I just started doing consulting. Understanding how to manipulate and present data is incredibly valuable to advisory firms. Many of the big consulting companies hire lots of folks with very diverse backgrounds, but having an applied math degree definitely made marketing myself much easier.
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Richard’s Answer

Hello!

I have found that many or most consultancies use some degree of math, but few outside of highly specialized finance or logistics companies are on the bleeding edge of mathematics. In general, mgmt consultancies will use basic data manipulation and maybe linear regression
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Kathryn’s Answer

I would say that in the fields of ecology and medicine, as well as industry, mathematical modelling is very popular. However, the big field right now is "data science". This is a combination of statistics, data manipulation, data visualization, and proficiency in software that do these like R, Python, and Tableau. If you promote yourself as a "Data Scientist", with strong math/statistics skills, you will be marketable.

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Diana’s Answer

A major in applied mathmatics can be very valuable in the consulting world. All of the top consulting firms most likely have a Data and Analytics practice that deal with "big data" around data mininning and trends. You could also look into financial modeling.

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Charles’s Answer

The field of economics consulting would be worth looking into, which is very heavily focused on quant work / valuations. NERA (www.nera.com) is an example of a company that is in this field.

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