The online masters in applied mathematics degree program focuses on applying and using mathematics in fields such as science and engineering. The program provides skills, knowledge, and experience to address bigger challenges in business, government, and non-profit organizations through courses in graph theory, statistics, numerical analysis, optimization, complexity, etc. Online applied mathematics masters can lead to greater career opportunities, better earnings, and job promotions. According to the U.S. Bureau of Labor Statistics, mathematicians and statisticians earn a median annual wage of $96,280 and can expect jobs to grow by 33% between 2020 and 2030. This guide provides in-depth information on what this degree entails, including aspects like accreditation, curriculum, funding, career options, etc.
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The best online masters in applied mathematics degree programs are offered throughout the country. The best masters programs are accredited and have well-trained and experienced faculty, excellent laboratories, student services, and a very good reputation in the industry. The OMC team has analyzed hundreds of affordable, flexible applied mathematics programs that check all the right boxes. Here is the list of the best masters in applied mathematics programs online:
Masters in applied mathematics online programs help students use mathematics to problems that arise in various areas like science and engineering and implement new ideas and new methods to meet new challenges. The program also teaches students how mathematics is applied in laboratories to understand mathematical models of biological processes in the spread of diseases, in weather departments to understand how climate change and aeronautical industries to design better airplanes, and much more. The goal of applied mathematics research is to intelligently apply existing mathematics tools and knowledge to solve scientific problems. With the advent of new computer technology, applied mathematics has transcended its traditional style and is even more critical to this new generation.
The online applied mathematics degree is a typically 2-year program, culminating with a capstone project and, sometimes, a thesis. Several universities also offer traditional and hybrid programs that combine on-campus and online classes.
Masters in Applied Mathematics Degree Types
Being a scientific degree, the online master’s in applied mathematics programs are usually a Master of science or MS degree, with a Master of Arts or MA being extremely rare.
Master of Science in Applied Mathematics
In the Master of Science or MS applied mathematics, students receive thorough training in mathematical sciences and scientific computing, exposure to mathematics-related subjects in science and engineering, and the application of mathematics to problems in various areas. The degree focuses on how to implement new ideas and methods to meet challenges, preparing students for a career in a contemporary industry or business.
Specializations in Masters in Applied Mathematics Programs
Specializations are an excellent choice for those who want to focus on a specific area within the field of applied mathematics. They also lead to niche jobs and better career prospects. Some areas of concentration for an online masters in applied mathematics are:
MS Research Specialization in Applied Mathematics – This specialization makes use of analytical and computational mathematics to solve real problems. It mainly consists of modeling, analysis, and scientific computing. In this specialization, students are taught how to identify a broad spectrum of problems across several disciplines.
Quantitative Risk Management– This specialization helps students understand the process of converting the impact of risk on the project into numerical terms. This numerical data is typically utilized to determine the project’s cost and schedule contingencies.
Computational Statistics for Data Science – In this specialization, students are taught how mathematicians and statisticians deliver an expert compilation of concepts, theories, techniques, and practices in computational statistics for those who seek a core understanding of statistics in contemporary data science.
Stochastic Computation – Stochastic computation consists of techniques representing continuous value through a stream of random bits. This specialization makes students understand how complex computations can then be computed by simple bitwise operations on the streams.
Industrial Mathematics – Industrial mathematics is a branch of applied mathematics, which includes theoretical topics from physics, biology, economics, and computer science. Industrial mathematics’ primary focus is on problems that come from industries and on gathering solutions that are relevant and most efficient to the industry.
Operations Research – This specialization develops mathematical and computational support for assessing and optimizing operational and logistical issues in the industry, services, and businesses.
Mathematics of Data Science – This specialization deals with mathematical models and algorithms that can analyze any data and easily draw conclusions and make accurate decisions. In this specialization, students become expert data scientists and continue to research new and accurate mathematical models.
Artificial Intelligence for Health – In this specialization, students will work on healthcare-related case studies. These real-health case studies have been developed in partnership with clinical partners in hospitals and demonstrate the abilities of AI applications in healthcare. With this specialization, students will be utilizing a theoretical understanding of the mathematics behind Artificial Intelligence in practice.
A few other examples of specializations in applied mathematics are:
Mathematical Theory of Communication Systems
Dynamical Systems and Chaos
Discrete Computation and Optimization
Curriculum and Skills Gained in Online Masters in Applied Mathematics Programs
Masters in Applied mathematics online degrees are designed to prepare students in the mathematical sciences for a career in modern industry or business. Students receive in-depth training in applied mathematics and scientific computing, exposure to mathematically related subjects in the natural sciences and engineering, and experience in group projects. Program graduates will succeed in securing the best position in a variety of companies.
The curriculum of online master’s in applied mathematics may vary by university and program but will primarily contain some of the following applied mathematics courses:
Linear Algebra – This course introduces students to linear algebra, a study of linear equations and the properties of matrices. The course helps students understand concepts used in linear algebra that are very useful in physics, economics, social sciences, engineering, and natural sciences.
Topology – In this course, students are taught how topological-based data analysis is the analysis of datasets using techniques from topology. It is a major branch of mathematics that was never applied by ancient mathematicians as it was considered abstract mathematics.
Numerical Analysis – This course is the study in the area of computer science and mathematics that creates, analyzes, and implements algorithms to obtain numerical solutions to problems involving continuous variables, which arise throughout the social sciences, physics, medicine, engineering, economics, and business.
Fluid Mechanics – This course aims to provide a mathematical introduction to fluid dynamics and introduce students to active research topics in fluid dynamics.
Dynamical Systems – In this course, students learn how a dynamic system, whether it is man-made, physical, or biological, changes in time. Students are trained in-depth in the study of dynamical systems based on mathematics in terms of differential equations.
Some of the skills individuals with an online masters in applied mathematics would have gained upon graduating include:
Apart from these skills, graduates will be able to:
efficiently and professionally explain mathematical ideas, results, context, and background in both written and oral form;
make use of technology to put mathematical theory into practice;
use oral and written communication in the form of papers, reports, and presentations to share critically reasoned conclusions from work or research initiatives;
demonstrate the ability to read, interpret, critically analyze, and discuss peer-reviewed scientific papers and articles; and
apply the right equations, algorithms, and all necessary calculations best suited to solving a problem and communicating it to their clients.
Accreditation for Online Masters in Applied Mathematics Programs
Doing an online accredited masters in applied mathematics is very important. Accreditation is a term that includes both initial and ongoing accreditation of schools, higher education institutions, or programs aimed at meeting the standard requirements of nationally recognized and accredited accreditation bodies. Accreditation is accessed by agencies that oversee the academic and administrative quality of schools, educational institutions, and programs. Accrediting agencies may be national, regional, or specialized, but it is common for most universities to seek regional accreditation from agencies like:
New England Association of Schools and Colleges (NEASC)
Middle States Commission on Higher Education (MSCHE)
Timeline for graduation from Online Masters in Applied Mathematics Programs
The length of an online master’s program in applied mathematics varies by university and also depends on course selection and program structure. A masters in applied mathematics online taken full-time will typically be 2 years long, requiring students to complete about 36. Some universities allow students to study at their own pace, which may or may not contribute to early graduation. Part-time students would require over 2 years to finish their degrees.
Online Masters in Applied Mathematics Programs Admission Requirements
To apply for a masters in applied mathematics online, a student must have completed a bachelor’s degree with a minimum Grade Point Average (GPA) of 3.0 GPA and should preferably have a background in mathematics. Those with no mathematics background may be required to complete prerequisite courses in areas such as advanced linear algebra, analysis, differential equations, and statistics. Some common masters in applied mathematics requirements are:
Since admission requirements for a master’s in applied mathematics vary by program and college, students should check with the university for the exact requirements.
Online Masters in Applied Mathematics No GRE Programs
Most colleges have the GREscore as a mandatory criterion for application. Nevertheless, some universities waive this requirement if the applicant has a high Grade Point Average (GPA). Still, an exemption for the GRE is rare in most instances, but a few universities do offer online masters in applied mathematics with no GRE programs, such as theColumbian College of Arts and Science.
Accelerated Online Masters in Applied Mathematics Programs
It is not uncommon for universities to offer masters in applied mathematics online programs from which one can graduate in less than 2 years. By opting for accelerated programs or credit transfers, lower graduation times can be achieved. Some universities offer accelerated online masters in applied mathematics online, which helps students complete the program before the typical schedule of 2 years. Here are a couple of examples of accelerated online applied mathematics master’s:
The University of Akron – The University of Akron allows students to take graduate-level courses in the final year of their undergraduate program, making it possible to complete their master’s degree in 1 year instead of the usual 2 years.
California University of Pennsylvania – The California University of Pennsylvania offers an accelerated online masters in applied mathematics with an option to complete a 30-credit program in just 13 months if they choose to study full-time.
Free Applied Mathematics Courses Online
Unfortunately, there are no free masters in applied mathematics degree online programs. However, numerous individual free online courses are offered by several prominent universities worldwide. These free courses will help students acquire more or specific knowledge of the subject, which could be useful for assignments or exams. Here are some resources to find online masters in applied mathematics free courses:
Udemy – Udemy offers several free courses, with many also available at reasonable rates, on various topics connected to engineering mathematics, machine learning, statistics, etc.
Coursera – Coursera is a platform that offers free courses that provide students with practical mathematical insights from accredited colleges, experts in the field, and reputed institutions. They offer over 1,000
free guided projects, and specialization and certificate courses. Topics include mathematical thinking, engineering mathematics, mathematics for machine learning, etc.
How to Pay for an Online Masters in Applied Mathematics Program
An online masters in applied mathematics program is a much-sought degree that costs several thousand dollars. The tuition fees for this program keep increasing with each passing year. Even though students who take up online programs do not have to pay for a hostel, transportation, and meals, they still have to pay the tuition fees, which are not cheap. Thus, financial assistance can significantly ease the burden of a self-funded college education. Some such sources of financial assistance include:
Universities offer scholarships to students who are good in academics, sports, arts, or any other skill. Religious groups, communities, individuals, and NGOs offer scholarships to deserving students. The good thing about scholarships is that they are free, and the student need not pay the awarded money back.
Grants are need-based and are allocated on a case-to-case basis to students who have a poor financial background. Unlike scholarships that predominantly pay for tuition, grant funds can be utilized for purposes other than tuition fees. Grants do not need to be repaid as well.
Graduate Assistantships offer students the opportunity to take up part-time teaching or a part-time job in the same institution where they are studying and, in return, receive a tuition waiver or monthly stipend.
Student loans are sums of money often borrowed from banks, financial institutions, or the federal government and need to be paid back through regular installments or as a lump sum. Student loans involve an interest payment which increases the overall cost of education and poses a risk of increased student debt.
Scholarships for Online Masters in Applied Mathematics Programs
Scholarships bear an advantage over other forms of funding as they do not need to be repaid. Scholarships are offered by universities, various for-profit and non-profit institutions, as well as other individuals and groups. Although no scholarships are explicitly awarded for applied mathematics, some colleges provide generic scholarships to grad students with the help of gifts from individuals and religious organizations. Here is an example:
Cal U and its Foundation offer scholarships to students through gifts from individuals or organizations. These scholarships are awarded to students who meet certain criteria, such as academic performance, hobbies, talents, and so on. The scholarship amount is decided based on students’ meeting certain criteria.
Deadline: TBA for 2022-2023.
FAQs about Applied Mathematics Programs
Q. What is a master’s in applied mathematics?
A. A Masters in applied mathematics is a two-year program where students are trained in advanced theory and practical knowledge of numerical simulation, statistical analysis, data mining, and computational mechanics.
Q. Who can do a masters in applied mathematics degree?
A. A student who has completed a bachelor’s degree with a minimum GPA of 3.0 GPA and has a background preferably in mathematics can consider this program. Those from backgrounds other than mathematics are usually required to take prerequisite courses in linear algebra, analysis, differential equations, statistics, etc. Individuals who have a flair for mathematics and enjoy the subject are the best fit for this program.
Q. Where to study a masters in applied mathematics?
A. Many universities in the United States offer a masters in applied mathematics online. Students are recommended to apply to accredited colleges or universities. Some of the best ones are listed on this page.
Q. Is an applied mathematics master’s degree worth it?
A. Having a masters in applied mathematics is beneficial to students to improve their career prospects and earning potential as many industries and organizations require professionals for their analytical and problem-solving skills.
Q. What can you do with a masters in applied mathematics?
A. Having a masters in applied mathematics, students can get jobs as computer scientists, statisticians, operations managers, mathematical economists, etc. Applied mathematics is a practical study that complements the careers of chemists, biologists, laboratory researchers, industrial technicians, and instrument engineers.
Careers and Salary Outlook for Masters in Applied Mathematics Graduates
Professionals with a strong mathematical aptitude can pursue jobs in the field, which can be lucrative and gratifying. The U.S. Bureau of Labor Statistics reports that mathematicians and statisticians can expect jobs to grow by 33% between 2020 and 2030. Graduates of applied mathematics masters are capable of making financial decisions or solving business challenges efficiently, so they are in high demand in numerous sectors. Some of the career options for masters in applied mathematics graduates are:
Actuarial Analyst – $74,000 – Actuarial Analysts are computer system analysts or systems designers. Actuarial analysts are responsible for upgrading computer systems, configuring software and hardware, training end-users, and ensuring they use computer technology efficiently.
Data Analyst – $80,403 – A Data Analyst is in charge of creating and maintaining databases and data systems. They are experts in fixing coding errors and other data-related problems. They make decisions based on data collection. They collaborate with programmers, engineers, and organizational leaders for system improvements and recommend upgradation and system modifications. Data analysts are responsible for understanding client requirements and developing policies for data governance.
Data Engineer – $111,019 – Data Engineers are experts in implementing new methods to improve data quality and reliability. They collect information from various sources to create consistent and machine-readable formats. They are responsible for analyzing raw data, developing and maintaining data sets, and improving and maintaining data quality depending on industry requirements.
Data Scientist – $136,637 – Data Scientists are experts in creating data tools to analyze and assist fellow data scientists in building and optimizing the best products in an innovative industry. Data scientists work closely with clients to understand their requirements and determine how data can be used to achieve their goals.
Mathematician – $85,921 – Mathematicians apply mathematical theories and techniques to solve practical problems in industries and organizations. They solve scientific and engineering problems by collecting data, analyzing the data, and presenting their reports. They are experts in applying mathematical theories and test formulas to new areas of scientific investigation and also provide mathematical support to engineering and product teams.
Certifications and Licensing for Applied Mathematics Graduates
Generally, an online master’s in applied mathematics is sufficient to start a career in the field of mathematics, but a certification enhances one’s potential in a specific skill or tool. Certifications are not mandatory, but some firms insist on employees completing one or more certifications for high-skilled roles. Certifications also reflect well on a graduate’s resume alongside their projects and help them stand out from their peers. Here are a few certifications related to applied mathematics graduates and students can consider:
CompTIA – CompTIA career pathways is an organization offering certifications aligned with the IT infrastructure and cybersecurity sectors. CompTIA provides Certifications to professionals like Data Analysts, Software Engineers, and Data Engineers.
Certified Analytical Professional (CAP) – Certified Analytical Professional (CAP)certification validates a professional data scientist’s ability to transform complex data into valuable insights and actions, which are very important in industries relying heavily on data science.
Certified Financial Planner (CFP)– Certified Financial Planner (CFP) is a certification for Financial Planners who have met extensive training and commit to ethical standards that require them to give consumers confidence and security. Applied Mathematicians can use their knowledge and skills along with a CFP to seek niche jobs in several industries.
Additional Resources for Applied Mathematics Professionals
Applied Mathematics is a vast study, and students who have completed their masters must update their knowledge regularly. With each industry having its specific requirements, it is always advisable for professionals to tap into resources to understand those requirements. Here are some resources that masters in applied mathematics graduates and professionals can tap into:
American Mathematical Society (AMS) – The American Mathematical Society (AMS) is a professional society dedicated to advancing research and connecting diverse global mathematical professional communities through publications, conferences, professional services, advocacy, and awareness programs.
Society for Industrial and Applied Mathematics (SIAM) – The Society for Industrial and Applied Mathematics (SIAM) is an international community with over 14,000 individual members, including applied mathematicians, computational mathematicians, computer scientists, and other scientists and engineers. The members are professionals from different countries who are researchers, educators, students, and practitioners. The Society publishes a variety of books and prestigious peer-reviewed research journals, holds conferences, and organizes activity groups in various areas of mathematics and computational science.
National Association of Mathematics (NAM)– The National Association of Mathematics (NAM) is a non-profit professional organization dedicated to promoting excellence in mathematical sciences and mathematical development. They aim to engage students in projects, activities, programs, conferences, workshops, etc., which inspire, motivate, promote, and assist graduates in maintaining an active interest in the mathematical sciences.
Mathematical Association of America (MAA) – The Mathematical Association of America (MAA) is an organization that helps professionals connect and share their ideas. They offer several membership categories that provide the best mathematical exposition. Members benefit from world-class resources and numerous opportunities to network and grow professionally.
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