A degree in mathematics carries significant value in numerous fields, including government, business, and technology. With a robust quantitative aptitude, math degree holders become desirable assets for diverse employers.
While these individuals can certainly excel in educational roles, their skills are also highly applicable in other professional settings outside academia.
The U.S. Bureau of Labor Statistics reported a median annual wage of $105,030 for mathematicians in May 2019. Moreover, the bureau anticipates a 26% employment growth in this field from 2018 to 2028, far exceeding the average of 5% across all occupations.
Transferable Skills Gained from a Math Degree
A math degree prepares students to become comprehensive problem-solvers. While they may not always use “advanced mathematics” in their careers, the analytical skills nurtured through this degree are beneficial in almost any field.
These skills are instrumental in finding solutions to complex problems. Math offers unique applications unlike pure science disciplines in STEM, such as chemistry, physics, and biology.
Applications of a Math Degree in Various Industries
The practicality of a math degree extends to various fields:
- Operations Research: This field focuses on devising organizational procedures to maximize efficiency.
- Tech Sector: A math degree forms a solid basis for a software career or other tech jobs. Companies like Google hire mathematicians to develop search algorithms.
- Finance: Math credentials can pave the way to lucrative finance positions and prepare individuals for analyst roles in nearly any industry.
What Can You Do With a Math Degree?
Job Opportunities for Math Graduates
Actuaries specialize in assessing and managing financial risks. They use mathematics, statistics, and economic theory to study uncertain future events, especially those concerning insurance and pension programs. They may design insurance policies, pension plans, and investments that mitigate the impact of the risk.
Algorithmic Engineers are responsible for designing, implementing, and maintaining the algorithms that drive software systems. This role requires strong mathematical skills to develop efficient algorithms. They often work closely with data scientists and software engineers to integrate these algorithms into functional software systems.
College or University Math Professor
Math professors at colleges and universities are responsible for teaching various math courses, from introductory algebra and calculus to advanced theoretical mathematics. They may also conduct research, publish academic papers, and participate in academic committees.
Data Scientists analyze and interpret complex digital data to help companies make decisions. They use mathematical models to understand data patterns and trends, and then translate these insights into actionable strategies. This often involves using machine learning algorithms and other advanced statistical techniques.
Entrepreneurs use their innovative ideas to start new businesses. With a solid mathematical background, entrepreneurs in tech or finance can use data-driven decision-making to drive their business strategy.
High School Math Teacher
High School Math Teachers are responsible for teaching mathematics to students in grades 9 through 12. They plan lessons, assess student understanding, and provide additional support to students who are struggling with the material.
Investment Banking Analyst
Investment Banking Analysts are responsible for conducting financial analyses for their clients. This may involve assessing a company’s financial health, researching market trends, or preparing economic models for potential investments.
Management Consultants help organizations improve their performance by analyzing current business problems and developing improvement plans. They may use mathematical models to analyze business data and make recommendations.
Mathematicians use advanced mathematical theories and techniques to solve practical problems in business, engineering, the sciences, or other fields. They may work in academia, conducting research and teaching, or for a private company, solving operational problems.
Operations Research Analyst
Operations Research Analysts use mathematical models and analytical methods to help businesses operate more efficiently. They might optimize production schedules, develop pricing strategies, or streamline logistics networks.
Process Engineers design and implement industrial manufacturing processes. They use mathematical models and principles to optimize these processes, often working to increase efficiency and reduce costs.
Project Managers are responsible for planning, executing, and overseeing projects to ensure they are completed on time and within budget. They often use statistical methods to estimate project timelines and resources needed.
Quality Assurance Manager
Quality Assurance Managers oversee the process of product testing to ensure that they meet specific reliability and quality standards. They often use statistical methods to analyze product defects and develop improvement plans.
Software Developers create computer programs, apps, and other types of software. They often use mathematical models to design efficient algorithms coded into software.
Statisticians use statistical methods to collect and analyze data and help solve real-world problems in business, engineering, healthcare, or other fields. They design surveys, experiments, and opinion polls to collect data, then interpret it and report conclusions.