Analysis
Caltech's undergraduate math program carries an estimated first-year earnings figure of $38,449—derived from the California state median for similar programs—which lands about $10,000 below the national benchmark and trails considerably behind UC San Diego's $52,339 or Cal Poly SLO's $53,136. This gap is striking given Caltech's 3% admission rate and elite reputation. The likely explanation: many Caltech math graduates pursue PhDs or research positions that initially pay less but lead to higher long-term trajectories, while peers at other schools head straight into tech industry roles.
The estimated debt of $21,750 (from national medians for similar institutions) translates to a 0.57 debt-to-earnings ratio—manageable on paper, but that assumes the state median earnings accurately reflect Caltech graduates' actual outcomes. If your child plans to work immediately after graduation in quantitative finance or tech, other California programs show stronger initial returns. If they're headed toward graduate school or research, those estimated first-year earnings may understate their eventual earning power, though you'd be financing several more years of education.
The core question: are you paying for a Caltech credential that opens doors beyond what these estimates capture, or are you banking on a long-term payoff that other math programs deliver more directly? Without actual earnings data for this specific program, you're making that bet blind.
Where California Institute of Technology Stands
Earnings vs. debt across all mathematics bachelors's programs nationally
Compare to Similar Programs in California
Mathematics bachelors's programs at peer institutions in California (67 total in state)
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| School | In-State Tuition | Earnings (1yr)* | Earnings (4yr) | Median Debt* | Debt/Earnings |
|---|---|---|---|---|---|
 California Institute of TechnologyPasadena | $63,255 | $38,449* | — | $21,750* | — |
 California Polytechnic State University-San Luis ObispoSan Luis Obispo | $11,075 | $53,136* | $65,655 | $16,718* | 0.31 |
 University of California-San DiegoLa Jolla | $15,265 | $52,339* | $56,452 | $16,250* | 0.31 |
 Pomona CollegeClaremont | $62,326 | $50,712* | — | —* | — |
 University of California-BerkeleyBerkeley | $14,850 | $46,674* | — | $20,500* | 0.44 |
 University of California-Santa BarbaraSanta Barbara | $14,965 | $46,447* | $64,574 | $17,000* | 0.37 |
| National Median | — | $48,772* | — | $21,500* | 0.44 |
Career Paths
Occupations commonly associated with mathematics graduates
Natural Sciences Managers
Clinical Research Coordinators
Water Resource Specialists
Data Scientists
Business Intelligence Analysts
Clinical Data Managers
Mathematicians
Statisticians
Biostatisticians
Mathematical Science Teachers, Postsecondary
Secondary School Teachers, Except Special and Career/Technical Education
Mathematical Science Occupations, All Other
About This Data
Source: U.S. Department of Education College Scorecard (October 2025 release)
Population: Graduates who received federal financial aid (Title IV grants or loans). At California Institute of Technology, approximately 15% of students receive Pell grants. Students who did not receive federal aid are not included in these figures.
Earnings: Median earnings from IRS W-2 data for graduates who are employed and not enrolled in further education, measured 1 year after completion. Earnings are pre-tax and include wages, salaries, and self-employment income.
Debt: Median cumulative federal loan debt at graduation. Does not include private loans or Parent PLUS loans borrowed on behalf of students.
Estimated Earnings: Actual earnings data is not available for this program (typically due to privacy thresholds when fewer than 30 graduates reported earnings). The estimate shown is based on the median of 23 similar programs in CA. Actual outcomes may vary.