What Is the Salary for a Graduate with a Math Degree?

A Bachelor of Science in Mathematics qualifies graduates for a wide range of careers with varying pay scales. The salary a recent graduate can expect to earn will depend on the field he or she enters. Pay is also affected by one's experience level, employer and location. Read on to find out more about potential careers and their earnings. Schools offering Mathematics degrees can also be found in these popular choices.

Overview of Career Options

Salaries of recent graduates with math degrees will vary based on their position. In addition, your location and employer all have an effect on earnings. Some entry-level jobs one can attain with a bachelor's degree in the field include actuary, mathematician, federal statistician and math teacher.

Important Information About This Field of Study

Prerequisites Strong background in high school level mathematics courses recommended (calculus, trigonometry, statistics, algebra), some programs will require a mathematics placement exam
Common Courses Algebra, advanced calculus, algebraic geometry, numerical methods, vector calculus, differential equations
Online Availability Some programs available entirely online
Concentrations Actuarial science, computer applications, mathematical biology, mathematics education, life sciences, probability and statistics

Actuary

Actuaries calculate the risk of damage, injury or loss in a given situation and estimate the cost of such events. Naturally, many actuaries find employment in the insurance industry. They use math to study statistical data and determine probability.

Salary Information

The Bureau of Labor Statistics (BLS), www.bls.gov, reported that actuaries earned an average wage of $116,250 in May 2018. The middle 90% of wages ranged from $61,140-$186,110. Insurance carriers had the highest employment level and offered an average wage of $114,670 while the business, professional, labor, political, and similar organizations industry offered the highest average wage of $155,490.

According to May 2018 figures from the BLS, New York was the state with the highest actuary employment level and salary, offering an average wage of $150,950. PayScale.com reported in May 2019 that actuaries with a Bachelor of Science in Mathematics earned an average of $91,000 per year.

Mathematician

While many mathematician jobs require a master's degree or higher, entry-level positions with the federal government can be attained with a bachelor's degree. Federal mathematicians perform research and develop solutions for many branches of the government.

Salary Information

The BLS reported that the average wage overall for mathematicians was $104,870 in May 2018, while the average wage for those working for the federal government was $112,600. California had the highest employment level and offered an average wage of $100,000, while the District of Columbia paid these professionals the highest average wage of $133,870. In April 2019, PayScale.com reported a median wage of $66,187 for entry-level professionals in the field.

Federal Statistician

Like mathematicians, statisticians can find work with the federal government with a bachelor's degree in math. Other positions usually require further education, like an M.S. or doctorate in statistics. Federal statisticians record and analyze data on anything from population numbers to military efficiency.

Salary Information

The BLS reported that the average wage for all statisticians was $92,600 in May 2018, while those working for the federal government made a much higher average wage of $108,310. Maryland employed a high number of these professionals and offered an average wage of $107,400, while New Jersey paid the highest average wage of $116,090. According to PayScale.com, entry-level statisticians earned a median wage of $62,023 in April 2019.

Math Teacher

While teachers traditionally have bachelor's degrees in education, many states offer alternate routes to teaching certification for those with bachelor's degrees in other fields. Thus a bachelor's degree in math can lead to a teaching career in elementary or secondary schools.

Salary Information

PayScale.com reported that all elementary school teachers earned a median wage of $48,107 in June 2019, and all middle school teachers earned a median wage of $47,622. PayScale.com also reported that high school math teachers earned a median wage of $49,121. As of June 2019, the median salary for all math teachers was listed as $48,964.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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