Students graduating from Oxford with a degree in Mathematics can expect to earn more than any other graduates in Britain, the latest figures have revealed.
Data released by the Higher Education Statistics Agency revealed that the average salary of Oxford maths graduates is £42,589 six months after leaving university. The national average salary for maths graduates is significantly less at £23,160.
Jonathan Black, the Director of Oxford’s Careers Service, said that the reason for the earning potential of the University’s maths graduates was “essentially supply and demand.”
“We’ve recently had a period when the City has been seeking numerate and bright graduates,” he explained. “Some banks for example have stated that they want to hire engineers and mathematicians and are offering the sort of salaries to attract them to high pressure, long hours, and City-based roles.”
He also suggested a close link between the work of maths undergraduates and City financiers, saying, “I think many leavers see roles in the City as extensions of Oxford – they’re high pressure (like the tutorial system), involve frequent and important deadlines, plus there are the added attractions of great salaries to help pay down the student loan and debt, and the opportunity to work in the bright lights of London.”
First year Trinity mathematician Gideon Wakefield agreed, saying, “Maths gives you three years of experience manipulating and modeling, which is exactly what you would be doing in financial research. The only difference is that you might be modelling markets, for example.”