12 years back, when I completed M.Sc. in statistics and started out, there were very few opportunities, actuaries were almost unknown. Today there are 23 life insurance and 25 general insurance companies, consulting firms and reinsurance firms – all are growing and need actuaries.
Which subject did you major in for your bachelor’s degree? How did you zero in on the specialisation for your master’s degree?
I majored in Statistics for my bachelor’s degree; I had always been interested in Maths and Statistics and felt it was my calling. I zeroed in on Operations Research (OR) for my master’s degree because I had chosen it as an elective for my bachelor’s degree course and really enjoyed it. Also, OR’s applications are far and wide and so I was confident about pursuing the same.
I had always loved Mathematics, and was sure when I took up the Maths-Stats- Eco combination in my bachelor’s degree course, that I would major in Maths. I was not oriented towards research, but was more interested in Applied Maths, So I pursued Applicable Math at the London School of Economics with subjects like algorithms, probability and game theory.
Could you describe how you use Maths and Statistics in your work?
I use a lot of Maths and Statistics in my job. We build models applying cluster analysis, linear regression, and such other concepts. What I learnt at college is helping me a lot.
My work in the analytics division of my organisation involves targeting the right customers through different online campaigns, developing customised strategies to increase profits and retain the top customers. It is all about making sense out of a huge amount of data and this is where my comfort with manipulating numbers helps immensely.
Resources for highschoolers – Maths and Statistics