Applied Mathematics

Types of Degrees Applied Mathematics Majors Are Getting

The following table lists how many applied mathematics graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Master’s Degree	5,862
Doctor’s Degree	315
Graduate Certificate	106

What Applied Mathematics Majors Need to Know

In an O*NET survey, applied math majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Applied Math Majors

Applied Math majors often go into careers in which the following knowledge areas are important:

• 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 Applied Math Majors

A major in applied math 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.
• Mathematics - Using mathematics to solve 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.

Abilities for Applied Math Majors

Applied Math 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.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.

What Can You Do With a Applied Mathematics Major?

People with a applied math 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
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
Statisticians	33.9%	$87,780
Water Resource Specialists	9.9%	$123,860

Who Is Getting a Master’s Degree in Applied Mathematics?

Applied Mathematics runs middle of the road when it comes to popularity, ranking #35 out of all the graduate majors we track. In 2021, about 5,862 graduates completed their master’s degree in this field. This major tends to be male dominated. About 60% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of applied math majors is as follows:

Race/Ethnicity	Number of Grads
Asian	291
Black or African American	106
Hispanic or Latino	223
White	1,265
International Students	3,764
Other Races/Ethnicities	213

Geographic Diversity

Americans aren’t the only ones with an interest in Applied Math. About 64.2% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• India
• South Korea
• Saudi Arabia
• Canada

How Much Do Applied Mathematics Majors Make?

Master’s Degree Starting Salary

The median early-career salary of applied mathematics students with a master’s degree is $83,883 a year according to 2019-2020 data from the U.S. Department of Education. During this timeframe, most salaries fell between $65,746 (25th percentile) and $89,253 (75th percentile).

It is possible that some of these people may have taken positions that were not related to applied math.

Salaries According to BLS

Average salaries range from $87,140 to $116,020 (25th to 75th percentile) for careers related to applied math. 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 Applied Mathematics

Some degrees associated with applied math may require an advanced degree, while others may not even require a bachelor’s in the field. 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.

Find out what the typical degree level is for applied math careers below.

Education Level	Percentage of Workers
Less than a High School Diploma	0.2%
Some College Courses	0.2%
Associate’s Degree (or other 2-year degree)	0.4%
Bachelor’s Degree	35.2%
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.	5.5%
Master’s Degree	29.0%
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.	0.8%
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.	1.9%
Doctoral Degree	20.8%
Post-Doctoral Training	6.3%

Online Applied Mathematics Programs

In the 2020-2021 academic year, 401 schools offered some type of applied mathematics 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)	0	0
Certificate (1-2 years)	3	0
Certificate (2-4 Years)	1	0
Associate’s Degree	1	0
Bachelor’s Degree	38	5
Post-Baccalaureate	0	0
Master’s Degree	221	7
Post-Master’s	6	0
Doctor’s Degree (Research)	84	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Applied Mathematics Worth It?

The median salary for a applied math grad is $100,990 per year. This is based on the weighted average of the most common careers associated with the major.

This is 153% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,221,800 after 20 years!

Majors Related to Applied Mathematics

You may also be interested in one of the following majors related to applied math.

Major	Number of Grads
Statistics	4,594
Mathematics	3,764
Applied Statistics	388
Other Statistics	98

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 Steven G. Johnson under License

More about our data sources and methodologies.