August 3, 2016
Types of Internships for Math Majors
How does being great with numbers and complex equations translate into in the real world? If you’re a math major, you’re probably asking yourself that question right now. The great news is that there are plenty of career opportunities for math majors in a broad range of fields including data science and accounting. The key to finding out which career path is best for you is to take on one or more internships while completing your degree.
Here are some of the most common internships for math majors:
Data science intern
A data science internship will give you first-hand experience with making data useful. You’ll learn how to clean large amounts of data and run relevant analyses by blending together applied mathematics with computer science, statistics, machine learning and other disciplines relevant to the problem at hand. You’ll also learn how to interpret these results in order to gain insights into a specific issue, identify emerging trends or even create a data-driven product.
Risk modeling intern
An internship as a credit risk modeler at a bank or financial firm can give you the opportunity to apply your math skills to the fields of banking and finance. As a credit risk modeler, you’ll assist in developing and measuring the validity of credit risk models which help the bank manage risk and measure different components of its performance. You’ll also receive training in the framework of existing credit risk models.
Quantitative research analyst intern
An internship as a quantitative research analyst will familiarize you with statistical methods and techniques used in making sense of data. From analyzing large, complex data sets to developing and testing statistical models, you’ll use your skills to interpret data and turn it into reports that can be used when making key business decisions. Because of the broad scope of this role, this internship can be found in any number of industries from healthcare to hospitality.
Financial analyst intern
A financial analyst internship is a great opportunity to learn about the process of collecting and analyzing financial information and making recommendations based on that information. This includes everything from internal and external data collection and analysis to data budgeting and forecasting. By interning as a financial analyst, you’ll be getting exposure to a broad range of duties and a hands-on feel for the world of finance.
If you’re looking to branch out into accounting, an accounting internship will give you exposure to a wide range of responsibilities in the field. During your internship, you’ll be assisting with everything from preparing month end financial reports and bank statement reconciliations to crediting checks and contributing to the team’s yearly forecasting efforts.
Investment banking intern
An investment banking summer analyst position will give you a great sense of what it’s like to be a full-time analyst. Throughout your internship, you’ll be getting exposure to various aspects of investment banking including client pitches and deals such as mergers and acquisitions. Although you’ll mostly be working on behind-the-scenes projects such as analyzing financial statements and putting together presentations, you’ll also be building valuable skills that you can use in a full-time analyst role.
Business intelligence intern
As a business intelligence intern, you’ll assist the business intelligence team with their current projects such as analyzing competitor data and market trends for a specific industry. You’ll also obtain an overview of key operations within the company, support data management efforts and assist clients both within and outside the organization. Along the way, you’ll learn how to improve the organization’s decision-making outcomes and performance.
Internships relevant to math majors will tap into your problem-solving skills in more ways than one and offer you exciting opportunities for learning and skill building. By taking on an internship during your undergraduate career, you’ll learn more about the career opportunities available to you after graduation and figure out what role is right for you.
Next, learn more about this college major such as What is a Math Major and is it Right for Me? and get more career tips for internships and entry-level jobs such as Top 10 Things You Should Look for In An Internship.