A master's degree can mean more job opportunities and a higher salary. And thanks to online master's programs, you can balance grad school with work more easily.
If you're interested in analytical and mathematical careers, an online master's in mathematics can help you reach your goals. With an online math master's degree, you can become a mathematician, statistician, or actuary. You can also become a math teacher.
Here, we highlight the best online math master's programs based on factors like academic quality, cost, and student outcomes.
Featured Online Math Programs
Top Online Master's Programs in Mathematics of 2023
Online Master's in Mathematics: Program Overview
Most online math master's programs require 30-36 credits of coursework and last around two years. Some programs may offer an accelerated one-year option.
Depending on the program, you may study applied math, number theory, probability, or math education. With an online program, you'll also get to take classes in a flexible format.
At the end of the program, you'll complete a master's thesis or project.
How to Choose an Online Master's in Mathematics Program
When comparing online math master's programs, consider factors like cost, program reputation, graduation requirements, and specialization options.
For example, if you're interested in statistics and applied mathematics, avoid choosing a program with a theoretical math focus.
When it comes to cost, look at the total cost of the degree. Make sure to factor in financial aid and the number of required credits. You can also ask programs about their graduation rates and graduate placements to determine the best fit for you.
Finally, be sure to apply to accredited institutions. Accredited universities meet high standards for academic quality. Independent accrediting agencies evaluate schools and award accreditation based on faculty qualifications, student learning outcomes, and academic mission.
You should choose an accredited university for your online math master's degree to make sure you receive a quality education.
Specializations for an Online MS in Mathematics
With an online master's degree in mathematics, you can typically choose a concentration, also known as a specialization or track.
Here are three common concentrations in online master's programs in mathematics:
Algebra: Algebra involves the study of equations. You'll study variables, constants, and expressions. Most STEM jobs require advanced algebraic knowledge. With a specialization in algebra, you could work as a market researcher or business analyst.
Trigonometry: Trigonometry refers to the relationship between angles and triangle sides. Statisticians, actuaries, and architects all use trigonometry to do their jobs.
Statistics: This specialization involves interpreting and presenting data. You'll learn how to draw conclusions from data using logic. You may work as a statistician or business analyst with a statistics specialization.
How Much Does a Master's in Mathematics Degree Cost?
Graduate tuition and fees cost an average of $19,749 in 2020-2021, according to the National Center for Education Statistics.
That said, how much you'll end up paying for your master's in mathematics degree will depend on multiple factors, including school type and your residency status.
In-state public universities usually offer the most affordable tuition rates. Some online programs may charge all online students the same tuition rates, regardless of residency.
Attending an online master's program in mathematics may save you money compared to attending an in-person program. You can often continue working and earning an income while pursuing your degree.
You also don't need to pay for campus housing, meal plans, or transportation to and from campus.
Still, make sure you budget for expenses like math textbooks and technology fees. Other expenses may include advanced calculators and computing software.
Career and Salary Outlook With a Master's in Mathematics
Earning a master's degree can lead to higher pay. According to Payscale, professionals with a bachelor's in math earn an average annual salary of $82,000, whereas professionals with a master's in mathematics earn $90,000 on average.
The Bureau of Labor Statistics (BLS) projects that math occupations will grow 29% between 2021 and 2031 — far faster than the average for all jobs. Professionals working in math roles earned a median annual salary of $98,680 in May 2021.
Here are some popular careers you can pursue with a master's in mathematics degree.
| Job | Median Annual Salary (2021) | Projected Growth Rate (2021-2031) |
|---|---|---|
| Mathematicians | $108,100 | 0% |
| Actuaries | $105,900 | 21% |
| Economists | $105,630 | 6% |
| Data Scientists | $100,910 | 36% |
| Statisticians | $95,570 | 33% |
| Operations Research Analysts | $82,360 | 23% |
| High School Math Teachers | $61,820 | 5% |
Source: BLS
Frequently Asked Questions About Master's in Mathematics Degrees
What are the highest paying jobs with a master's in mathematics degree?
The highest-paying jobs with an online master's in mathematics include mathematician, statistician, actuary, and economist. According to the BLS, mathematicians earned a median annual salary of $108,100 in May 2021.
Economists, actuaries, and data scientists similarly report median salaries in the six figures.
What can you do with a master's in mathematics degree?
With an online math master's degree, you can become a mathematician or statistician.
The analytical and theoretical skills from a graduate degree in math can also lead to roles in finance and insurance. For example, actuaries and economists often benefit from earning an MS in mathematics.
Many online math master's programs also offer a track for math teachers. Math is one of the highest-demand fields for educators. A master's in math education can prepare you to work as a high school math teacher.
What's the difference between an MA and an MS in mathematics?
A master's in math can take the form of either a master of arts (MA) or a master of science (MS). An MS typically focuses more heavily on math theory, whereas many MA programs emphasize math education.
Some universities may offer a master of education (M.Ed.) in math education.
When choosing between online master's in math programs, make sure to compare the curricula and degree requirements. You should also consider which degree best fits your professional goals and budget.
