I’m currently waiting to hear about if I get into a program that would allow me to do a BS/MS in math in 5 years, with the first 4 at normal undergrad cost and then for the 5th year you work part time as a TA and do not pay tuition. I think you also get a stipend but not sure. I’m planning to double major in industrial engineering and math for undergrad. Honestly I haven’t thought about grad school seriously, figured I’d go into the workforce then hopefully at some point get a job that would pay for me to go.
If I get into this program, how likely is it that I could get a master’s degree without paying for it later? Basically, from an ROI perspective, should I consider this a big difference (5 years for the price of 4) or does it not really affect if the school is “worth it” from a financial perspective, because I could get an opportunity like this elsewhere?
Thanks!
Some money for an MS is not completely unusual. However, you should not be planning on having a lot of opportunities like that.
If you are admitted to the BS/MS program that you are currently waiting on, do remember that you can decide against staying for the MS at any time.
Thanks @happymomof1, so do you think it’s fair to say that although this school costs more per year than my second choice, the potential free 5th year could make it actually a better value?
How much more each year?
How badly do you want an MS in math?
How much would an MS in math improve your employment prospects straight out of college?
Do you like working with people, and are you naturally cheerful? Can you see yourself holding it together as a TA when your students are all unhappy and frustrated because math is so hard for them?
It’s about a 10k/year difference— around 25k a year at cal poly slo vs 35k a year for WPI (very rough numbers).
Honestly, I’m not sure that I have a firm grasp on how an MS would affect me career-wise. I know it generally does mean an increased salary but with the cost as an obstacle I wasn’t really sure about it. But I like math enough that an extra year of studying it is appealing.
Stats for industrial engineering BS at WPI:
97% response rate, 96% success (employed or in grad school), average salary 70k
Math BS at WPI (could be skewed due to the large number double majors): 82% response, 89% success, average salary 67.5k
Applied math MS: 5 students, 2 employed, 2 continuing education, 1 unknown, salary not listed
Financial math MS: 95% response, 84% success, average salary 50k
Industrial math MS: 1 employed, 1 unknown, salary not known
I do like working with people and consider myself pretty cheerful. I know it’s not the same but I’ve tutored math before and used to be considering becoming a math teacher.
Looking at the data it seems like the actual career benefit may be small. So it seems like it comes down to if I want to take advantage of getting that opportunity to study math more (if I get into the program), not really career benefits. But maybe I’d want to get a masters in a field that’s more related to industrial engineering.
So I’m thinking that although it’s a nice perk, it shouldn’t be a deciding factor.
Just to put the cat among the pigeons: if you go for a PhD in engineering / materials science / math you usually pick up a Masters on the way- and PhDs are funded. Also, depending on your interests, the NSA has fantastic (well paid) summer internships for undergrad math majors (I know a student who did it one summer, and was sent the next summer to work on a joint NSA-MI 16 task force in the UK)
That’s pretty much exactly what I was going to say. TAing to cover your tuition in an MA program isn’t uncommon in math (and a lot of STEM) fields; sometimes employers pay for degrees, too. So especially since you aren’t really sure whether or not you want the MA, this is like a nice cherry-on-top factor and not a deciding one IMO.