Financial Math

Types of Degrees Financial Math Majors Are Getting

The following table lists how many financial mathematics graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Master’s Degree	5,107
Graduate Certificate	38
Doctor’s Degree	17

What Financial Math Majors Need to Know

O*NET surveyed people in occupations related to financial math 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 Financial Math Majors

According to O*NET survey takers, a major in financial math 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.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• 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.

Skills for Financial Math Majors

A major in financial 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.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Financial Math Majors

Financial 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.
• 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 Expression - The ability to communicate information and ideas in speaking so others will understand.
• Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.

What Can You Do With a Financial Math Major?

Below is a list of occupations associated with financial math:

Job Title	Job Growth Rate	Median Salary
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
Natural Sciences Managers	9.9%	$123,860
Risk Management Specialists	9.6%	$70,280

Who Is Getting a Master’s Degree in Financial Math?

This major tends to be male dominated. About 63% of recent graduates are men.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	343
Black or African American	73
Hispanic or Latino	178
White	982
International Students	3,365
Other Races/Ethnicities	166

Geographic Diversity

Financial Math appeals to people across the globe. About 65.9% of those with this major are international students.

Amount of Education Required for Careers Related to Financial Math

Some careers associated with financial math require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

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

Education Level	Percentage of Workers
Some College Courses	0.4%
Associate’s Degree (or other 2-year degree)	0.2%
Bachelor’s Degree	30.4%
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.	4.9%
Master’s Degree	31.9%
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.	0.9%
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.	1.7%
Doctoral Degree	26.9%
Post-Doctoral Training	3.1%

Online Financial Math Programs

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)	0	0
Certificate (2-4 Years)	0	0
Associate’s Degree	0	0
Bachelor’s Degree	10	2
Post-Baccalaureate	0	0
Master’s Degree	101	7
Post-Master’s	2	0
Doctor’s Degree (Research)	11	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Majors Related to Financial Math

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

Major	Number of Grads
General Applied Mathematics	4,582
Computational & Applied Mathematics	786
Computational Mathematics	399
Other Applied Mathematics	280
Mathematical Biology	36

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.