Mathematics & Statistics

Types of Degrees Mathematics & Statistics Majors Are Getting

The following table lists how many mathematics and statistics graduations there were in 2018-2019 for each degree level.

Education Level	Number of Grads
Master’s Degree	11,437
Doctor’s Degree	2,011
Graduate Certificate	372

What Mathematics & Statistics Majors Need to Know

O*NET surveyed people in occupations related to mathematics and statistics and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Mathematics & Statistics Majors

According to O*NET survey takers, a major in mathematics and statistics should prepare you for careers in which you will need to be knowledgeable in the following areas:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
• Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
• Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Skills for Mathematics & Statistics Majors

A major in mathematics and statistics prepares you for careers in which the following skill-sets are crucial:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking - Talking to others to convey information effectively.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Mathematics & Statistics Majors

Mathematics and Statistics majors often go into careers where the following abilities are vital:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.

What Can You Do With a Mathematics & Statistics Major?

People with a mathematics and statistics degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Actuaries	22.5%	$102,880
Bioinformatics Scientists	8.0%	$79,590
Biostatisticians	33.9%	$87,780
Clinical Data Managers	33.9%	$87,780
Clinical Research Coordinators	9.9%	$123,860
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340
Financial Analysts	10.8%	$85,660
Financial Quantitative Analysts	9.6%	$70,280
Fraud Examiners, Investigators and Analysts	9.6%	$70,280
Investment Underwriters	9.6%	$70,280
Mathematical Science Occupations	9.1%	NA
Mathematical Science Professors	9.4%	$73,230
Mathematicians	29.0%	$101,900
Molecular and Cellular Biologists	8.0%	$79,590
Natural Sciences Managers	9.9%	$123,860
Risk Management Specialists	9.6%	$70,280
Secondary School Teachers, Except Special and Career/Technical Education	7.5%	$60,320
Statisticians	33.9%	$87,780
Survey Researchers	2.1%	$57,700
Water Resource Specialists	9.9%	$123,860

Who Is Getting a Master’s Degree in Mathematics & Statistics?

This major attracts more men than women. About 58% of the graduates in this field are male.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of mathematics and statistics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	756
Black or African American	212
Hispanic or Latino	414
White	2,942
International Students	6,629
Other Races/Ethnicities	484

Geographic Diversity

Americans aren’t the only ones with an interest in Mathematics & Statistics. About 58.0% of those with this major are international students.

How Much Do Mathematics & Statistics Majors Make?

Master’s Degree Starting Salary

According to 2017-2018 data from the U.S. Department of Education, students who graduated with a master’s degree in mathematics and statistics have a median salary of $74,500 during the early years of their career. During this timeframe, most salaries fell between $60,600 (25th percentile) and $81,550 (75th percentile).

One thing to note here is that not all of these people may be working in careers related to mathematics and statistics.

Salaries According to BLS

Average salaries range from $77,580 to $116,020 (25th to 75th percentile) for careers related to mathematics and statistics. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to Mathematics & Statistics

Some careers associated with mathematics and statistics require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to mathematics and statistics have obtained the following education levels.

Education Level	Percentage of Workers
Less than a High School Diploma	0.2%
High School Diploma - or the equivalent (for example, GED)	0.5%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	0.5%
Some College Courses	0.2%
Associate’s Degree (or other 2-year degree)	0.9%
Bachelor’s Degree	38.4%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	5.8%
Master’s Degree	28.0%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	1.1%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	1.6%
Doctoral Degree	17.4%
Post-Doctoral Training	5.8%

Online Mathematics & Statistics Programs

In the 2018-2019 academic year, 1,567 schools offered some type of mathematics and statistics program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	27	4
Certificate (1-2 years)	15	1
Certificate (2-4 Years)	3	0
Associate’s Degree	290	18
Bachelor’s Degree	100	24
Post-Baccalaureate	27	4
Master’s Degree	717	50
Post-Master’s	18	0
Doctor’s Degree (Research)	337	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Mathematics & Statistics Worth It?

The median salary for a mathematics and statistics grad is $92,600 per year. This is based on the weighted average of the most common careers associated with the major.

This is 132% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,054,000 after 20 years!

Majors Related to Mathematics & Statistics

You may also be interested in one of the following majors related to mathematics and statistics.

Major	Number of Grads
Engineering	63,808
Computer & Information Sciences	51,096
Biological & Biomedical Sciences	27,505
Physical Sciences	13,573
Architecture & Related Services	7,816
Engineering Technologies	7,277
Natural Resources & Conservation	5,491
Agriculture & Agriculture Operations	3,975
Communications Technologies & Support	604
Science Technologies / Technicians	70

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By brewbooks under License

More about our data sources and methodologies.