What do you think is the most promising graduate degree(Masters) for (pure) Math undergrads pursuing earning to give? And maybe more general; how would you structure the answer to the question of what graduate degree one should pursue given that he/she is commited to EtG? Maybe to give you some ideas, I’m currently looking at: computer science(machine learning), econometrics, economics, applied mathematics, financial mathematics, statistics, something related to data science.
However, bear in mind the data is normally not corrected for selection effects (i.e. smarter ppl study maths, and that’s why maths phds earn more etc.). So take it with quite a bit of salt.
Also, you need to take into account flexibility of the skills, because it’s highly uncertain what professions will be highest paid in the future.
Petroleum engineer graduate degrees are currently among the highest paid, but that industry might go into structural decline due to cheap solar panels. More broadly, it’s common for skilled professions to be highly cyclical.
So, I’d say it’s better to go for more widely applicable subjects like statistics or computer science, rather than something narrower like finance or a particular type of engineering.
Finally, the rankings are only averages. It also really matters how good you’ll be within the subject i.e. it’s probably better to be great at economics than mediocre at engineering, even if engineers are higher paid on average. So that’s why to factor in personal fit.
Finally, I’d say put especially high weight on flexbility, in case you decide to stop earning to give.
What do you think is the most promising graduate degree(Masters) for (pure) Math undergrads pursuing earning to give? And maybe more general; how would you structure the answer to the question of what graduate degree one should pursue given that he/she is commited to EtG? Maybe to give you some ideas, I’m currently looking at: computer science(machine learning), econometrics, economics, applied mathematics, financial mathematics, statistics, something related to data science.
Hi Amon,
If you’re just looking to maximise salary, then I reckon look for the following factors:
Average earnings of graduates
Flexibility of skills
Personal fit—test this by trying out the subject
Average earnings of graduates is a clue to the earning potential. http://www.payscale.com/college-salary-report/majors-that-pay-you-back/graduate-degrees http://fortune.com/2015/04/27/best-worst-graduate-degrees-jobs/
However, bear in mind the data is normally not corrected for selection effects (i.e. smarter ppl study maths, and that’s why maths phds earn more etc.). So take it with quite a bit of salt.
Also, you need to take into account flexibility of the skills, because it’s highly uncertain what professions will be highest paid in the future.
Petroleum engineer graduate degrees are currently among the highest paid, but that industry might go into structural decline due to cheap solar panels. More broadly, it’s common for skilled professions to be highly cyclical.
So, I’d say it’s better to go for more widely applicable subjects like statistics or computer science, rather than something narrower like finance or a particular type of engineering.
Finally, the rankings are only averages. It also really matters how good you’ll be within the subject i.e. it’s probably better to be great at economics than mediocre at engineering, even if engineers are higher paid on average. So that’s why to factor in personal fit.
Finally, I’d say put especially high weight on flexbility, in case you decide to stop earning to give.
What would you say now ranks top based on this?
My guess for maximising salary would be something which is going to make you into a quant trader or financial engineer. There is a useful discussion on this site: https://www.quantstart.com/articles/Why-a-Masters-in-Finance-Wont-Make-You-a-Quant-Trader