Science and Technology Degrees Offer Multi-Faceted Career Opportunities

Usually, when one thinks of a career in mathematics, they think of ivory tower recluses contemplating the nature of the universe through numbers. The truth is quite the opposite. One of the largest of the STEM (science, technology, engineering, math) career paths is the actuary and by the very nature of their profession they are one of the most grounded of the fields. A love of numbers and a bachelor science degree can start one on this career path.

According to the Bureau of Labor Statistics, actuaries deal with risk. They decide how likely things such as death, sickness, injury, disability, and loss of property are to occur, as well as the costs of these things. They also decide how much money it will take in order to get a certain amount of retirement income. They help design insurance policies, pension plans and try to make sure any risk is sound. Actuaries may need to explain their findings to company executives, government officials, the public and may even testify in court as experts

In other words, they are the backbone of the insurance industry. They can also work for consulting firms, where their expertise in risk assessment can be used in a number of other ways. If you look at TV shows such as Numb3rs, a lot of the science the stars use is actuarial.

Actuaries must have a strong background in both math and general business. To start in the field, one must have a Bachelor's degree in math, actuarial science, or statistics, although there are actuaries who have degrees in economics, finance, or accounting.

Most universities have actuarial science programs. It's usually a good idea to talk to a career counselor to learn what is actually in the curriculum. Even with a degree, graduates also have to take a certification exam before they earn a full position. Luckily, many insurers and similar firms will hire the graduate while they study for the actuarial exam online.

There is an incredible need for this profession. This is certainly reflected in the salary. According to the Bureau, the bottom end of an annual wage is nearly $50,000 a year. The average actuary wage ranges from $90,000 to $110,000, depending on which industry he or she is in, and where they are located. The top ten percent exceeds over $160,000 before going into upper management. These jobs almost always come with superlative benefits packages, including investment and retirement programs, extended vacations, continued education packages and, naturally, life and health insurance.

As actuarial science is considered a STEM field, it is open to more than the usual avenues for financial aid. Not only can a student get a standard Pell Grant, but also is open to an S-STEM grant from the National Science Foundation. Also, many professional organizations inside the finance and science communities have grant funds.

 

What a Life Sciences Consulting Firm Can Offer Your Business

Oftentimes, one of the hardest tasks for a pharmaceutical or life sciences firm to achieve is not necessarily starting a successful business, but maintaining a successful business.  This is mainly because the life sciences market is extremely competitive, and so much depends on the efficient use of resources, as well as staying current with the newest technologies and methods of production. For a smaller pharmaceutical company, this task can be even more daunting, as budget and staff constraints are often limited, affecting everything from timing, to regulation compliance. 

Fortunately, for smaller pharmaceutical companies, the appearance of more and more life sciences consulting firms has made it possible for smaller firms to improve their competitive advantages, as well as give larger companies clearer strategies to follow for success.  These firms can help your business to not only stay competitive, and stay in the market, but also give your company its best chance to succeed and grow. 

Each life sciences consulting firm is different and can offer your company different services.  The first step is to clearly determine what you feel your company's needs are, and where your company needs improvement and expertise.  Through this assessment you will be able to determine what consulting services your company needs, and form a basis from which to work from.  There are a number of consulting services your company may not even be aware of which can drastically improve your business.  Here are a few examples of what a life sciences consulting firm can do for your business.

A life sciences consulting firm can save your company time and money by helping to speed up the rate it takes to conduct clinical trials, monitoring, research, as well as any other application process.  They can also provide you with a specialized staff that may have expertise in areas in which your company is lacking.  They can also find experts in almost any field of biotechnology, to share their knowledge and experience with your company.  Most importantly, they can teach the staff you already have in place, to do things better, faster, and more efficiently, not to mention, familiarize your company with the newest methods and technologies, to help you keep a competitive advantage.

A top-notch life sciences consulting firm will help give your pharmaceutical company the flexibility it needs to adapt to current trends and changes taking place within the industry, as well as save your company time and money in the process.  They will help your company to better understand all the procedures and regulations, and give your firm clear answers to help guide you along your process development. 

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