The 5 Best Career Options for Math Majors
When people think of careers for math majors, academia often comes to mind first. However, the analytical and problem-solving skills developed through studying math open the door to a variety of high-paying career opportunities beyond the classroom. From finance to data science, math majors are in demand across multiple industries.
Here are five top career options for math majors, each offering lucrative salaries and strong job prospects.
Top Careers for Math Majors & Their Salaries
Math-related careers are growing at a faster rate than many other fields, with demand for math skills on the rise in areas such as business, technology, and healthcare. The Bureau of Labor Statistics (BLS) reports that math occupations had a median wage of $101,460 in 2023—more than double the median wage across all occupations. Let’s dive into some of the best career paths for math majors.
1. Data Scientist
Job Duties: Data scientists use mathematical models, algorithms, and programming skills to analyze large datasets. They help organizations solve problems, uncover patterns, and make data-driven decisions, making this a highly versatile and in-demand role.
Education: Most data scientist roles require at least a bachelor’s degree in mathematics, statistics, or computer science, with a master’s degree offering a competitive edge.
Job Outlook: The BLS projects 36% growth for data science roles, making it one of the fastest-growing careers for math majors.
Median Salary: $108,020 per year
2. Actuary
Job Duties: Actuaries assess risk by using mathematics and data analysis, often working within insurance or finance industries. They help companies create policies that minimize financial risks.
Education: Actuaries typically need a bachelor’s degree in fields like mathematics, statistics, or economics, and they must pass a series of rigorous actuarial exams.
Job Outlook: Actuarial jobs are projected to grow by 22%, offering excellent job security and growth potential for math majors.
Median Salary: $120,000 per year
3. Operations Research Analyst
Job Duties: Market research analysts study market conditions to predict sales potential, making their insights critical for businesses that want to understand customer behavior. They use both math and analytical skills to help companies determine what products or services will succeed.
Education: A bachelor’s degree in fields like statistics, business, or computer science is usually required, though some positions prefer candidates with a master’s degree.
Job Outlook: With a 23% projected job growth rate, this career is in high demand across industries.
Median Salary: $83,640 per year
4. Mathematicians and Statisticians
Job Duties: Mathematicians and statisticians use advanced mathematical techniques to analyze data and solve problems across various industries. Statisticians, in particular, help organizations make informed decisions by interpreting data patterns in fields like healthcare, engineering, and more.
Education: Most jobs require at least a master's degree in mathematics or statistics, with some entry-level roles available for those with a bachelor’s degree.
Job Outlook: The BLS projects 11% job growth for these roles, faster than the average across all occupations.
Median Salary: $104,860 per year
5. Financial Analyst
Job Duties: Financial analysts evaluate the performance of stocks, bonds, and other investments. They use mathematical models to forecast market trends and guide clients in making investment decisions.
Education: A bachelor’s degree in mathematics, finance, or economics is typically required. Courses in calculus, statistics, and linear algebra are also valuable.
Job Outlook: The financial analyst field is expected to grow by 9%, faster than the average across all occupations.
Median Salary: $99,890 per year
Explore More Math Careers with MyPath
Math majors have a wide range of career opportunities, including roles in insurance, finance, and data science. The insurance industry, in particular, offers exciting opportunities for math graduates, with careers such as actuaries, claims adjusters, and data scientists. To find the perfect career path for you, check out MyPath’s career planning resources and start charting your future in a math-related field.