¶ … decision to become a math major should not be taken lightly. Recent graduates are generally required to have a master's degree and the job market for mathematicians is competitive ("Mathematician: Summary" 2012). In 2010, there were only 3,100 positions for mathematicians in the U.S. And the need is expected to increase by only 16% between 2010 and 2020. Those who are able to secure a position as a mathematician generally work in federal agencies and in private science and engineering research companies. In 2010, the median salary for mathematicians was $47.78 per hour.
Given the competitive nature of the mathematician job market, math majors frequently augment their course of study with other course work or complete a double major ("Mathematicians: How to become a mathematician" 2012). For example, a math major who would like to secure a position in engineering research would benefit from engineering coursework or getting a second degree in engineering. Taking a multidisciplinary approach gives job applicants a much needed edge when seeking a research position in mathematics.
Should math majors who are not that excited about pursuing a master's degree be concerned? Not really, because there are a large number of jobs for math majors in related professions. College graduates with math skills can fill positions in computer programming, systems analysis, systems engineering, and statistics, but their coursework should reflect the goal of finding a position in these professions. For example, there were an estimated 25,100 positions for statisticians in 2010, who were earning a median salary of $35.02 per hour ("Statisticians: Summary" 2012). Mathematicians with a bachelor degree can also sometimes find work in government agencies or as a school math teacher, but to teach at the college level a master's or doctorate degree is generally required ("Mathematicians: How to become a mathematician" 2012).
Should a math major be interested in risk assessment (actuarial science) in business, then the coursework should focus on mathematics, statistics, and business. Math majors seeking a career in this field will be rewarded by high salaries ($42.14 per hour median), faster than average job growth (27%), and a non-competitive job market ("Actuaries: Summary" 2012). In addition, a bachelor's degree is usually sufficient for obtaining an actuary position, although certification is generally required.
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