Career Options for Quantitative Research & Analysis
Your choices for careers involving the use of quantitative research and analysis might surprise you. Job titles that don't directly mention the use of research will still see you getting your hands deep into the manipulation and analysis of data. To see some of the options out there, check out the chart and descriptions below, and find out if one of the job descriptions sounds like a good fit!
|Job Title||Median Salary (2016)*||Job Growth (2014-2024)*|
*Source: U.S. Bureau of Labor Statistics
Career Information for Quantitative Research & Analysis Jobs
On top of their teaching duties, postsecondary teachers (college or university professors) will perform research in their field in order to continue the advancement of academia. Their original research will eventually be published in peer-reviewed academic journals and books. Research might also be used in experiments, depending on the field in which they teach. Tenured full-time professors are often expected to devote more time to research than teaching. At an absolute minimum, postsecondary teachers must have a master's degree, but the most common degree is a doctorate.
Applying analysis to a number of different fields, economists interpret data with a number of different mathematical models and techniques involving statistics. Using these methods, they can even forecast what they expect to happen in a given economic market. They can make recommendations for solving problems, and their findings might also be published in academic journals. Their positions can take them anywhere in the world if they are interested in traveling. Economists mostly need a master's degree or a Ph.D. to find a career, but entry-level jobs in the government can be obtainable with a bachelor's.
An actuary makes statistics out of statistics - that is, they compile data so that it can be further analyzed at different levels. Often, their work is done with computers, and actuaries can estimate probability and cost of events such as deaths, accidents, or natural disasters. A common place of employment is an insurance agency, where actuaries are used to design policies and determine the dollar amount that is charged for premiums. They can also work in the public sector for a branch such as the federal government. A bachelor's degree in a field like mathematics or actuarial science is a precursor to a career as an actuary.
The job of a logistician is to extend the life cycle of a product, which might include the means of delivery and distribution. In order to do this, research and analysis can be performed on client needs and cost minimization. With results in hand, logisticians will propose improvements to the company's management, as well as the customers and clients. As the relationship with a client solidifies, they can identify areas for improvement. An associate degree might qualify someone for work as a logistician, but a bachelor's degree is their best bet.
Management analysts, also known as management consultants, analyze financial data that includes revenue, employment reports, and expenditure. They may do this as direct employees, but they might also be contracted by different companies. Their analysis can be specific to an area, such as inventory management, or the reorganization of a corporate structure. Upon finding their results, they will discuss implementation of changes with management and follow up to determine if these changes work in practice. Management analysts must have a bachelor's degree, and obtaining certification can improve the prospects of keeping a career.
Industrial engineers work with data that looks at engineering specs, production schedules, and process flows to figure out how to maximize the efficiency with which products are manufactured. Using their findings, engineers can also design systems that evaluate job performance, give out wages to workers, and find the most profitable location for the placement of plants. A bachelor's degree is a required minimum for a career in industrial engineering, and work experience is also valuable.