Salary of M.Sc in Mathematics: Various Job Roles & Opportunities [2024]

Studying mathematics is one of the most fundamental components of education. Mathematics, as a domain and area of study, provides skills for life. We incorporate basic calculations, budgeting, and time management, as well as our ability to think critically. All of these are some basic implications of the importance of mathematics, yet they are quite crucial to daily requirements. 

If you think studying mathematics is only about numbers, you are highly misinformed. There is no field that does not use mathematics. Its utilization is witnessed in all facets of life. 

Did you know that you can make up to 20 lakhs per annum in some roles, like that of a data scientist, with an MSc in mathematics? Yes, a data scientist role requires highly skilled professionals with expertise in mathematics and statistics. Many more highly lucrative jobs after an MSc in mathematics can be pursued by job seekers. 

A degree in mathematics can have an extensive scope if combined with the right skills and experience. With an MSc in mathematics, you can get jobs in research, finance, insurance, teaching as well as budget and data analysis. As these roles require a high level of proficiency, people seeking a career in mathematics can expect lucrative salaries if combined with optimum work experience and skill development. 

Also Read: Career Opportunities for Mathematics Students

Salary After MSc Mathematics in India

The question of salary after an MSc Mathematics course in India is one that is highly dependent on variables such as proficiency in industrial skills, years of experience, current demands of the job market, location of the specific job, as well as your concerned job profile.

Following are tables representing the Salaries of Various Jobs in MSc Mathematics in accordance with designations and sectors:

MSc Mathematics Salary based on Job Designations

Job Designation	Approximate Salary Range (per annum)
Mathematics Professor	2 lakhs to 15 lakhs
Data Scientist	4 lakhs to 30 lakhs
Statistician	2 lakhs to 17.5 lakhs
Subject Matter Expert	2 lakhs to 8.2 lakhs
Product Analyst	5 lakhs to 32.6 lakhs
Research Consultant	1.9 lakhs to 15 lakhs

Source: AmbitionBox

MSc Mathematics Salary based on Sectors

Sector	Average Salary ( annual)
Education	8.2 lakhs
Research Institutions	9.8 lakhs
Healthcare and Pharmaceuticals	6.4 lakhs
IT	14.6 lakhs
Manufacturing	6.7 lakhs
E-Commerce	6.9 lakhs

Source: AmbitionBox, Payscale

Scope of MSc in Mathematics in India in 2025

The scope of Jobs after MSc in Maths in India extends well beyond its stereotypical status of landing only a certain set of jobs. With an MSc in Mathematics, you can land jobs in the public sector, government organizations, research institutes, manufacturing, software development, tech startups as well as banking and finance.

Mathematics is important in various fields such as technology, science, and finance, and in every other dimension of life. It is a prerequisite for various fields, computer science, engineering, and physics in which, amongst other things, smartphones and satellites can be manufactured.

Let’s take a brief look at the scope of mathematics: 

• In technology, AI and machine learning are powered by math through which better predictions, recommendations, and automated decision-making processes are achieved. 
• These advancements in math are also useful in cybersecurity and protecting our personal and sensitive data.
• The same approach can be used in markets to forecast their behavior, investment management, and risk reduction which in general, impact the global economy.
• It is applicable in biology and health care where mathematical models help to monitor the spread of the disease, help prepare a vaccine, or develop medication tailored to an individual, thus benefiting people’s health.

So, if you are curious about a career after MSc Mathematics, you have a plethora of options to choose from and align yourself with suitable profiles.

Also Read: Importance of Mathematics in Data Science

Future Trends in Mathematics

The future of mathematics boasts of witnessing significant advancements. With the rise of newer domains like big data, analytics, and the evolution of AI, the need for skilled mathematicians and mathematics professionals is set to steadily increase. 

The future predictions indicate a transformation in many industries and sectors, with mathematical models still playing a fundamental role in these newer innovations. As a result, the scope of mathematics is set to expand even further, giving rise to newer opportunities. Let’s take a look at some future trends in mathematics:

1. Artificial intelligence and machine learning 

Did you know that Math is a crucial component of constructing AI and ML models? Yes, AI models inculcate mathematical functions like linear algebra and calculus. With time, we shall witness an increasing intersectionality of mathematics and artificial intelligence.

 

You may check upGrad’s online programs in AI and ML as well as their Gen AI advanced certificate program to upskill yourself with the latest course curriculum. 

 

2. Rise in Interdisciplinarity

The knowledge of mathematics is often deemed interdisciplinary, as its functions are utilized in various fields such as medicine, businesses, and related domains of probability, physics, and economics. This will be reinforced more evidently in the near future as intersectionality and applications of mathematics in other fields are witnessed.

3. Skill development in mathematical and logical reasoning

As time advances, we are faced with challenges faced by an old and static educational system that has needed reform for a long time. With the National Education Policy (NEP) 2020, the focus is made on integrating mathematical reasoning into the students’ education programs, such that an overall development of critical thinking and problem-solving abilities through early integration and development of early interest in mathematics studies.

4. Reinforcement of Inclusion in its Approach

Since mathematics is a global and ever-present component in our lives, it must be made to be all-inclusive and promote equity. With an increasing focus on diversity and inclusion in all forms of organizations and institutions, mathematics studies can offer an inclusive approach to education. This can be achieved by proper allocation of resources, inclusive teaching methods as well as systemic policies.

Top Ranked Colleges for MSc Mathematics in India

The historical significance of mathematical education in India is a widely known fact. Home to pioneering scholars of mathematics like Aryabhatta, Brahmagupta, Gargi, Katyayani, and Ramanujan, India has witnessed huge development in higher education in mathematics in India and continues to advance in further enhancing mathematics education. 

When talking about the top-ranking colleges for MSc Mathematics in India, components like interdisciplinary curriculum, alumni success rate, strong connections in the industry, as well as research facilities are taken into consideration. These components lay the foundation to foster a greater learning environment.

Further, we shall look into some of the top-ranked colleges for MSc Mathematics in India:

1. Hindu College

• Overview

  The Mathematics Department at Hindu College is recognized as one of the top departments in the University of Delhi for pursuing Mathematics. It prides itself on having a dedicated and successful faculty, a dynamic atmosphere for creativity, and impressive student achievements. 

• Key Highlights

  Annual Flagship event Alpha, Annual Publication - Annulus

• Key Courses

  Advanced Fluid Dynamics, Cryptography

2. Miranda House

• Overview

  The Mathematics Department at Miranda House is amongst its oldest departments, since the foundation of the college. The department boasts of higher academic excellence as well as institutional facilities of experienced faculty. The department thrives due to its diligence towards enhancing the learning experience. 

• Key Highlights

  Sankhya ( Mathematics Society )

• Key Courses

  Advanced Complex Analysis, Methods of Applied Mathematics

3. IIMS ( Institute of Mathematical Sciences )

• Overview

  The Institute of Mathematical Sciences is a renowned research institute in India, offering research programs in various disciplines. Research aspirants often deem this institute among their top priorities owing to its dynamic curriculum and mathematics department.

• Key Highlights

  Research seminars, Workshops, JRF Program

• Key Courses

  Functional Analysis, Geometry and Topology

4. BITS Pilani

• Overview

  The MSc Mathematics program at BITS Pilani largely focuses on the development of core mathematical skills through its dynamic and flexible degree options. The course boasts skilled faculty, a higher student success rate as well activity-based learning.

• Key Highlights

  Dual Degree Program, Practice School Program

• Key Courses

  Thermodynamics, Probability and Statistics

5. Madras Christian College

• Overview

  The Department of Mathematics of Madras Christian College is a historical educational department with over 100 years of existence and prominence. With a track record of academic rigor, student support, and a successful alumni record, this college is amongst the top-ranked colleges for MSc mathematics.

• Key Highlights

  Blend of Pure mathematics and applied mathematics

• Key Courses

  Functional Analysis, Complex Analysis

6. St. Stephen’s College

• Overview

  The Mathematics Department at St. Stephen’s College attracts motivated individuals each year due to its academic prestige. With its diverse and rigorous curriculum, it offers students all-round learning. The department focuses on interactive events, programs, and experiential learning through learned and experienced faculty.

• Key Highlights

  The Mathematics Society, Semester events: Guesstimate

• Key Courses

  Mathematical Programming, Dynamical Systems

Top Industries Where MSc Mathematics Graduates Can Work

The demand for MSc Mathematics graduates in India can be seen across a vast range of industries and sectors owing to their mathematical acumen and quantitative analysis skills. This has given a growth in options for jobs after MSc in math. 

Below is a list of industries wherein we can deep dive into the scope for job opportunities after MSc in maths:

1. Banking and Finance

With an MSc in mathematics, you can find work employment in the Banking and Finance industry with roles such as an analyst in risk, credit, and finance departments. You can even explore profiles of portfolio management and investment banking if you amass the equivalent experience and upskill yourself.

 

Take a look at these online fintech courses by upGrad and set yourself apart with advanced skills. 

 

2. Public Sector 

The government sector hires mathematics majors in the fields of research, administration, defense services, accountancy, treasury management, and even economics. However, you need to align yourself with the specific requirements of these job opportunities after MSc in maths and compensate for any missing experience or skill set by pursuing relevant courses and internships.

3. Statistics 

Data scientists and statisticians have both formed some of the most hotshot careers in India. With data science courses being integrated into academic curricula, these fields see a surge of professionals. This sector is highly rewarding once you obtain the right skills and experience.

 

Check out these free data sciences courses from upGrad to get a kickstart in transforming your career. 

 

4. Consultancy

The Consulting sector hires MSc Mathematics majors who are adept at analysis, risk analysis, and management, all of which require skills with large number sets and analytical acumen.

5. Academia and Research 

Mathematics professors and school teachers are one of the most popular professions undertaken by mathematics majors. After the right training in education studies, school teachers and professors can apply for job opportunities after MSc in maths in various educational institutions.

Similarly, mathematics researchers are hired by research and development firms, universities as well as scientific institutes.

6. IT

Did you think mathematics will not make you eligible for a career in IT? The answer is: Yes, a mathematics MSc opens doors to the IT industry. Fintech companies also recruit mathematics majors for roles in statistics and data analysis. 

7. Accounting

Being interrelated domains, mathematics majors are often hired for roles in the accounting sector. These roles may be in treasury management, financial planning, as well as executive positions. It is preferable to upgrade learning in this domain by equipping yourself with relevant courses and skills.

 

If you are interested in the accounting profession, here’s a course on Financial Modelling and Analysis in association with PwC India to level up your game. 

 

8. Healthcare

Being one of the fastest-growing industries, the healthcare sector seeks MSc Mathematics graduates for roles in market research, data analysis, budget management, medicinal research, and even risk analysis. These areas require skilled professionals in mathematical abilities.

Conclusion

In this text, we explored the varied fields and domains where mathematics majors can work. We looked into how mathematics as a field has its implications well rooted in a multitude of job opportunities after MSc in maths and potential for a high amounting salary in India.

However, we must reiterate the importance of seeking out additional opportunities to facilitate professional growth. People aspiring to establish a successful career in mathematics should enrich themselves with extra knowledge and skills. Doing so can greatly determine your hiring chances, and polish your profile.

Once you explore what area you are interested in, you can begin by completing online certification courses in addition to your academic degree. Such measures of e-learning facilitate the provision of learning from anywhere and are even recognized by top-notch institutes.

To further find out what courses you’d like to undertake, you can explore our online courses and talk to our expert counsellors for a wide range of options and find the right fit for yourself.