Pi Mu Epsilon is a national honorary mathematics society. Its goal is to promote mathematics. This is done by honoring students who have excelled in mathematics and by helping others who need help succeeding in mathematics.

Specifically, chapters may only elect as members:

- Students who are candidates for undergraduate degrees at the institution and who have met all of the following requirements:
- Completed at least the equivalent of two semesters of calculus and two additional courses in mathematics, at or above the calculus level, all of which lead to the fulfillment of the requirements for a major in the mathematical sciences.
- Have maintained the equivalent of a grade point average of at least 3.0 on a 4 point scale in all mathematics courses that lead to the fulfillment of the requirements for a major in the mathematical sciences.
- Have maintained the equivalent of a grade point average of at least 3.0 on a 4 point scale in all courses that lead to the fulfillment of the requirements for an undergraduate degree.

- Students who are candidates for graduate degrees at the institution whose mathematical work is at least equivalent to that required of qualified undergraduates, and who have maintained the equivalent of a grade point average of at least 3.0 on a 4 point scale in mathematics courses during their last school year prior to their election.
- Members of the faculty at the institution in mathematics or related subjects.
- A person who has achieved distinction in a mathematical science, provided that the Chapter obtains the explicit approval of the President of the Society.

Most members tutor or have tutored individuals or groups in mathematics.