After Phd

[Antigravity324]

I was looking into possibly getting a Phd in mathematics. When I looked up the salary for Mathematics Associate Professors I saw that the average salary was only around 63k. I mean, this is an alright salary but you can get a job straight out of engineering undergrad that pays more. I was wondering if this statistic is mainly correct or if it is just bad information. Anyone have any ideas?

Thanks

[frankdux]

if it's money you're really after, then you won't get far in a PhD program.

[noojens]

Ayup, if it's money you're after, a PhD is generally a poor career decision, regardless of your field. Certain exceptions may apply, but math ain't one of 'em.

[Antigravity324]

I understand that, and getting a Phd isn't about money, for me it is about the desire to do something challenging and interesting for your the rest of my life . But you still have to plan for the future and ask whether this is a viable decision for life outside of academics (i.e. my family, my loans etc). I love math but I also love computer science and choosing where I want to invest the next 5 years of my life does involve weighing the outcomes of these two paths. I do get your point though, people who simply think it would be "cool" to have a Doctorate or who's only motivation is money will have an incredibly hard time persevering though the gauntlet of getting a Phd.

[ana3a]

Anti's question is important. I hate it how the important, but unattractive questions draw these unhelpful, self-defensive answers tinged with an awful cynicism. We all know that a PhD in math is not the shortest path to big bucks, if a path to bucks at all. The point is there is a mass of career statistics and salary info out there, and we need your simple confirmation or correction of the data that we receive. Field salaries are an absolute must-know for anyone considering to join that field.

It's not always that people shop around for a lucrative field; they really need to know whether they will make enough money to buy a house, raise a family, and all the myriad other things in life other than the profession itself.

[frankdux]

if you enjoy math and you enjoy teaching you could potentially make more money just getting a masters in math and becoming a high school teacher - so long as you're in one of the better paying states and you're teaching in a middle to upper class suburb.

[ralphhumacho]

Hi there,

Expect to start anywhere between 40-55k depending on the university. I believe all state universities are required to make faculty salaries available to the public, so you can dig up that information to get a better perspective. When I checked my state school's (HUGE publice research university, top 25 Math program) Math faculty salaries, new faculty were in the 45-60k range, associate professors were in the 60-90k range, and most of the full professors were in the 90k - 130k range. One or two were pulling in >200k, but that is most likely from consulting, extremely generous grants, book royalties, or maybe a patent. Private universities in general pay a little higher.

[Capt Crunch]

If you want to do math and get money, then do Math Finance or Operations Research. I transferred from being an algebraist to applied for exactly the same reason that concerns you.

The former pretty much requires a PhD in math or physics, and supposedly will get you many hundreds of thousands per year after a very short while. Prepare to work your ass off for it. The latter can give you a 9-5 job, probably around $125k starting.