7 Popular Mathematics Degree Jobs (With Examples and Salaries)
If you've acquired a mathematics degree, there are many different fields of work where you could contribute your skills. Generally, a bachelor's or similar qualification in maths is going to equip you with a skill set that's widely applicable. Since this can present you with a range of opportunities, it's good to know what your options are, whether you're a recent graduate or someone with a maths degree who's considering a change. In this article, we explain the various mathematics degree jobs available, along with an overview of related degree types and some salary examples.
What are the different types of mathematics degrees?
A mathematics degree can come in various forms. First, there's a Mathematics BSc, which is typically going to be the most general and with the least emphasis on a particular field of work. Besides this, many degrees integrate mathematics with other fields. These can be more relevant for you if you're interested in pursuing a particular career related to mathematics. Some examples of hybrid mathematics degrees include:
Mathematics and Accounting and Finance BSc
Computer Science and Mathematics BSc
Geography and Mathematics BSc
Mathematics with Finance BSc
Mathematics with Statistics BSc
Financial Mathematics BSc
Theoretical Physics and Applied Mathematics BSc
Mathematics with Data Analytics BSc
Chemistry with Mathematics MChem
Mathematical Sciences BSc
Statistics and Data Analytics BSc
There are also other fields of study that are closely related to mathematics. These include areas like finance, economics, physics, operational research and computing. To a certain extent, the skills you'd gain in these related fields overlap strongly with mathematics and can grant access to similar job opportunities.
Mathematics degree jobs
There are many mathematics degree jobs to consider for a mathematics graduate, as the skills have many potential uses. Below is an overview of the various jobs and industries that you might consider pursuing with your mathematics degree:
Although many accountants would have a dedicated accounting degree, holders of a Mathematics BSc or similar can also work within this field. In some cases, you may require additional training or education to equip you with the knowledge and tools to carry out your work. There are often graduate schemes available if you want to pursue a career in accounting with your maths degree. These schemes can take up to five years to complete, but once you've finished, you may have a solid grasp of accounting practices.
For instance, the average salary of an accountant is £34,957 per year. This figure can increase significantly if you gain experience and secure a position at a reputable firm. There are also various specialisations within accounting that you might consider, such as corporate finance, assurance, auditing, forensic accounting, risk assessment and financial accounting.
Related: How To Become an Accountant
Another field within the financial sector that you might consider if you have a maths degree is investment banking. Investment bankers handle banking services for large businesses, including mergers and acquisitions, foreign exchange and trading. Very often, investment bankers have backgrounds in mathematics, finance, economics and other related fields. Many investment banks and similar types of companies hold job fairs or offer graduate schemes for promising candidates. If you'd like to pursue a career in investment banking, it's a good idea to start looking at these as soon as you graduate.
This is a field that also tends to pay quite well. For instance, an investment banking analyst's average salary is £65,984 per year. Within investment banking, there are certain specialisations. These include corporate finance, equity capital markets and debt capital markets.
There are many more meteorologists besides the individuals who present the weather on television and other broadcast media. Many of them work with predictive modelling and forecasting to try and determine how weather patterns are going to develop. This involves the collection and analysis of data, analysing satellite imagery and the application of mathematical models. This sort of role is going to appeal to you if you enjoy problem-solving and applying your skills to answer real-world questions. You could work in the Meteorological Office, often just called the Met Office, or in the private sector.
Within the private sector, you might seek employment in the oil and gas sector, insurance or at a research institute. The average salary for a meteorologist is £37,094 per year.
Related: How to Become a Meteorologist
Insurance and risk management
In the field of insurance and risk management, organisations employ mathematical models to solve problems. Companies need to be able to analyse risk to inform their decision-making processes. This could be relevant to an insurance policy, security system or even investments. These roles could be within the insurance sector itself or providing such services to a large company. For example, an actuary uses mathematical models to advise an underwriter on whether to insure a particular individual or company. Conversely, an insurance broker works for a client to find them the best insurance policies available.
Besides this, there's also risk management. In addition to identifying and managing risks, these individuals want to present and communicate their findings to clients. They might also be responsible for ensuring adherence to policies. Within insurance and risk management, communication and diplomacy skills are going to be very important. The average salary for an actuary is £67,567 per year, and that of a risk manager is £49,279 per year.
Related: How To Become an Actuary
Data science and data analysis
These two roles are closely related and sometimes mistaken for each other. However, there are distinct differences between the two. A data analyst is an individual who examines and analyses large sets of data to identify trends, develop charts and visualise them for others. Conversely, a data scientist works on developing new data modelling processes using algorithms, prototypes and predictive models. Although there are some degrees dedicated to data analysis or data science, many people working in these roles come from a mathematics or computer science background.
Working in one of these fields can lead to specialisations like machine learning or data mining. In many cases, you may choose to pursue a master's degree in data science or similar to help your career progress. The average salary for a data analyst is £32,238 per year, whereas that of a data scientist is £50,305 per year.
A software engineer develops, maintains and improves software systems for particular needs. The role often involves close work with related professions, such as systems analysts or architects. Key skills include writing code for operating systems, ensuring software efficiency and writing diagnostic programs. This can extend to advisory work regarding how to implement future programs and may even involve working with clients to assess their needs and suggest solutions. The specific job title can often vary significantly within the IT field, such as software programmer, developer or engineer.
Your job title may refer to the programming language you use, such as C# or Java. A mathematics degree, or similar qualification in computer science or information systems, is a good way to get into this field. The average salary for a software engineer is £43,033 per year, and that of a systems analyst is £33,535 per year.
Jobs in academia
If you have an aptitude for the applied and theoretical side of mathematics, you might consider using your degree to pursue a career in an academic field. This could be as a teacher at a secondary school, a lecturer at a university or as a research mathematician. For instance, a maths research scientist can research numerical analysis, geometry and topology, algebra, combinatorics, fluid mechanics, mathematical biology and much more. These individuals often collaborate closely with other experts and researchers, as the applications of mathematics can be quite varied in scope and usage.
If you possess great communication skills, you might consider a career as an educator at school or in higher education. For the latter, you could combine this with research work. In addition to schools, colleges and universities, there are also research organisations and private sector employers who use mathematicians for research purposes. A mathematics teacher's average salary is £25,637 per year, and that of a research scientist is £35,144 per year. If you want to work in research or higher education, you're probably going to need higher qualifications like a master's and PhD.
Salary figures reflect data listed on Indeed Salaries at the time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location. Please note that none of the companies mentioned in this article are affiliated with Indeed.
Explore more articles
- What are the types of technology? (With definition)
- Tips for Graduates Entering the Workforce During COVID-19
- How to become a freelance UX designer: an in-depth guide
- How to become a forensic pathologist (a step-by-step guide)
- 10 great jobs in project management and their salaries
- Science apprenticeship: definition, guidelines and tips
- What does an insurance agent do? (Types, salary and skills)
- What does a criminal profiler do? (Plus salary and skills)
- How to become an HR coordinator and the skills required
- How To Become a Film Director (With Definition and Steps)
- Creativity in marketing: what does a creative marketer do?
- How To Become a Product Designer (Duties, Skills, Salary)