International study programs: Math
Pursuing a graduate degree in mathematics can deepen your knowledge of complex mathematical concepts and models applicable toward a future career in multiple industries.
Math is an international study program that is a popular option, and as a STEM discipline, is eligible for a 24-month STEM OPT extension upon earning your master’s degree or Ph.D.
Here’s what to expect with a mathematics graduate program and possible career options to explore.
About math programs
A master’s degree in mathematics typically involves one to two years of education. As a graduate student, you can expand your knowledge and skill in pure mathematics or select a program that offers other specializations. Some of these specializations include mathematics education, mathematical statistics and actuarial science.
Each college and university sets its own graduate math curriculum. During your studies, you’ll gain an understanding of complex proofs and theorems, linear analysis, statistical machine learning, differential equations and more.
Examples of courses you might encounter include complex variables, advanced calculus, dynamical systems and algebraic geometry. Through this advanced coursework, you’ll develop abstract and applied mathematical problem-solving skills.
Depending on your program, you might be required to write a master’s thesis on an approved topic or undergo comprehensive examinations as part of graduation criteria.
Demand for math degrees
Like other graduate STEM majors, mathematics is a popular pursuit among international students. The Institute of International Education’s (IIE) 2023 Open Doors Report shows that mathematics, along with computer science, was the most sought after field of study in the 2022-23 academic year growing 20% compared to the previous school year.
More than 29K mathematics degrees were conferred in the United States during 2022, according to the latest figures from Data USA.
The heightened interest in mathematics graduate programs is understandable given the degree’s potential return on investment (ROI). In its most recent 2022 study on graduate degree ROI, The Foundation for Research on Equal Opportunity found that 41% of master’s degrees in mathematics offer a positive return of US$500,000 to US$1 million by age 45, relative to the full cost of obtaining a master’s degree.
Five jobs you can get with a math degree
A graduate degree in mathematics offers career opportunities in various industries – from STEM jobs to math education. Below are five jobs a math degree can unlock.
1. Statistician
As a statistician, you’ll gather necessary data by creating surveys and polls and designing experiments. Using the data results you’ve gathered, you’ll apply mathematical models and techniques to solve an organization’s problems. Based on your computations, you’ll identify patterns and relationships from the data and validate your findings.
The U.S. Bureau of Labor Statistics (BLS) reports that the median annual wage of a statistician as of May 2023 is US$104,110. Those who work as a statistician in computer systems design or related fields earn a median wage of US$140,850 per year. Between 2022 to 2032, this profession is projected to grow 30%.
2. Actuary
Actuarial work is commonly found in insurance companies. They’re responsible for calculating how much risk and uncertainty will cost an organization or agency. Actuaries leverage their knowledge of finance, math and statistics to assess risk levels and offer policy guidance based on their findings.
The median salary of an actuary is US$120,000 as of May 2023, according to the BLS. This profession is projected to grow 23%, faster than average math-related degrees from 2022 to 2032.
3. Economist
Economists combine their passion for mathematics with finance. As an economist, you’re responsible for developing data-gathering methods and analyzing your collected data through various statistical tools and methods and mathematical models. Based on your analysis, you’ll deliver fiscal or monetary projections and trends to key stakeholders at your organization.
The BLS reports the median annual wage of an economist in May 2023 was US$115,730. Those who work in scientific research and development services earn a median income of US$140,940. The job is projected to grow 6% from 2022 to 2032; although this is slower than other jobs you could get with a math degree, it’s still faster than average for all occupations.
4. College math professor
Working as a postsecondary teacher can be a rewarding profession. You’ll interact directly with college-level students and develop a level-appropriate course curriculum to instruct your class. In addition to teaching, college math professors assess students’ information retention through graded assignments, exams and other work.
Postsecondary teachers, in general, earned an average median salary of US$84,380 as of May 2023, according to the BLS. College mathematical science teachers earned a median wage of US$81,020. The highest-paying institutions are typically private colleges, universities and professional schools. Demand for this role is positive with projected job growth at 8% from 2022 to 2032.
5. Financial analyst
Financial analysts develop investment strategies for businesses and organizations to boost profits. They recommend various investments, like stocks and bonds, analyze their performance and make recommendations on how to pivot their financial approach. The role involves evaluating historic and current trends. It also involves assessing an organization’s financial statements.
According to the BLS, a financial analyst earned a median wage of US$99,890 in May 2023. Those working in securities, commodity contracts and other financial investments earned a higher median wage at US$115,480. Between 2022 and 2032, job growth for financial analysts is projected to grow 8%.
Final thoughts: Getting a math degree in the U.S.
A graduate degree in mathematics can help you develop your passion for complex computations in math and statistics. It’s a degree applicable to various industries, like health care, technology and finance.
Before you can secure a lucrative career leveraging your advanced math education, however, you’ll need to determine how you’ll pay for your graduate program. If you’ve maximized your grant and scholarship opportunities, an international student loan can provide extra funds. Learn how an MPOWER Financing international student loan can help.
