In the 2019-2020 school year, Mathematics and Statistics ranked in the 20th position among the most popular college majors in the USA. That’s not an impressive ranking, but let’s look at the circumstances. When compared to the previous school year, there was an increase of 5.5% (2,866) in the number of degrees being awarded in this niche.
There are several reasons behind this increased popularity of mathematics degrees in U.S. colleges. The importance of big data for today’s technological and marketing trends is the most important one.
Let’s discuss why a math degree is a lucrative decision towards a productive career.
Reasons Why Specialists with Math Degrees Are Wanted on the Job Market
- Math Grads Are All-Purpose Problem Solvers
A math major prepares students to be successful problem-solvers even if they don’t focus on a career related to advanced mathematics. Leonard Euler, one of the most famous mathematicians of all times, was also a renowned physicist, astronomer, and engineer. When compared to biology, physics, chemistry, and any other discipline of science, math education focuses on more abstract and general problems.
Math gives one’s mind the foundation to develop more specific analytical and problem-solving skills in all niches. Regardless of the professional you choose, focusing on solving mathematics questions now will help you handle professionally challenging situations in the future.
- Specialists in Finance and Accountancy Have Always Been in Demand
Accounting is not the most exciting career path you could imagine. For most people, it’s boring. But for those who are good with numbers, it’s a suitable and fulfilling career. Accounting is great for introverts, too. They don’t have to communicate with people all the time, and they don’t have to be the center of attention during team meetings.
There’s a variety of accountancy jobs across industries. These include corporate advisor, management accountant, forensic accountant, tax accountant, auditor, and more. In addition to getting a college math degree, you’ll need to gain a professional qualification to become an accountant.
- Math Knowledge Can Always Be Used for Tutoring
Even if you find yourself jobless after graduating, you can use your knowledge to help students who struggle with math questions and answers. Many high-school, college and university students turn to a website with math homework answers when they get stuck with assignments. These services consistently hire skilled assignment writers. Many teachers and professionals in different fields rely on assignment writing and tutoring as a backup job when they need extra finances.
- The Banking Niche Offers Exciting Careers
When most people think of banking jobs, they imagine clerks with boring daily tasks. But this sector is full of opportunities. You can specialize in lending and IPOs, privatization, bonds and shares, mergers and acquisitions, corporate investment, retail, and many other areas.
These jobs are not boring! Their descriptions involve developing financial solutions and models for clients, creating business opportunities, market research, and more. There’s more learning and qualifications required, but maths is the essential skill for banking careers.
- Data Science Is Still One of the Most Lucrative Careers
Over the last decade, the data science job market exploded. That’s the main reason for such an increase in math degrees awarded in U.S. colleges. The Bureau of Labor Statistics estimates 11.5 million new jobs in data science by 2026.
With an average annual salary of over $120K, it’s easy to understand why students, who are good with numbers, focus on this career. In addition to being a data scientist, you can consider a few other professions in the field: full stack engineer, big data developer, customer success manager, sales development representative, and machine learning engineer.
Since 2020, the data science job market has shown some signs of slowing down. The pandemic had a lot to do with it, but it’s probably a temporary situation that won’t have a serious effect on future investment in machine learning technologies.
- Statisticians Are Required Across Industries
Statisticians specialize in the collation, analysis, interpretation, and presentation of quantitative data. Their skills, which are based on math, are required for government, healthcare, and finance jobs. These professionals solve engineering, science, and business problems. They develop analytical theories that could help organizations to face business challenges.
What most students don’t realize is that many statisticians focus on lucrative careers in the sports industry, too. They collect and arrange data from games, players’ performance, and team score. Then, they create reports and advise their clients (sports teams) on possible player transfers, strategies, and financial decisions. Suddenly, math became cooler than you ever anticipated, right?
Mathematics Prepares Students for Bright Careers
There’s a lot to do with a math degree! These skills are essential for career opportunities as a market researcher, economist, statistician, accountant, and many other professions.
Many of the listed positions will require additional qualifications, but a college math degree offers a good foundation for a successful professional journey. Problem-solving skills are universally appreciated, regardless of the career you choose. The prospects with this degree are not only fun; they are also very lucrative.
There’s a growing job market for mathematicians, especially in science, technology, and business-related sectors. It makes sense to turn your love for numbers into a focus.