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Getting Your Master’s Degree in Statistics

Updated | Julie Provost
master's degree in statistics

Master’s Degree in Statistics

Love your math classes? Do you have a bachelor’s degree in statistics or a related major? If so, you might be interested in going further and getting your master’s degree in statistics. 

Those going into statistics will learn about gathering, analyzing, and interpreting data. According to BLS, the field of mathematics and statistics is projected to grow 33% from 2019 to 2020, much faster than average for all occupations. 

Online or In-person

When it comes to getting your master’s degree in statistics, you can go to an in-person program or an online one. The benefits of an online program may appeal to working professionals or those looking for a career transition. In-person programs may appeal more to those coming from undergraduate programs or those who simply want that in-person experience. 

A Master’s of Statistics

A master’s in statistics will take you around two years depending on if you go full or part-time. While you might be able to find a good job with a bachelor’s degree in statistics, a master’s will open more doors and allow you to move further in your career. 

Those going to get a master’s in statistics are skilled at math and enjoy working with numbers and data. They understand subjects such as calculus, linear algebra, and probability. 

Concentrations in Statistics

Different concentrations will have different types of coursework. Here are some of the most common that you might find in a master’s of statistics program:

Biostatistics

Students will train in statistical methods that are useful in the design and analysis of medical research, the pharmaceutical industry, and public health.

Environmental Statistics

Students research and consult within the environmental area.

Statistical Genetics

Students learn the relevance of genetics data in science. 

Financial Statistics

Students learn about working within the field of financial data.

Applied statistics

Students learn advanced skills and knowledge in planning, design, testing, and implementation of statistical methods. 

The classes you take in a master’s of statistics program will depend on the concentration. Here are a few examples of classes you might take while getting your master’s degree. 

    • Applied Probability – where students learn about the application of probability theory to statistical problems and other scientific and engineering domains. 
    • Theoretical Statistics – where students prepare for a research career in statistics. They learn about topics such as large-sample theory, high-dimensional testing, and more. 
    • Statistical Analysis – where students learn about probability hypothesis testing, have an introduction to methods of analysis such as tests of independence, regression, and more. 
    • Statistics in Research – where students learn non-calculus exposition of the concepts, methods, and usage of statistical data analysis. 

Admission Requirements

Admission requirements differ based on the school and program, however, most will require students to have a bachelor’s degree from an accredited school, to complete an application essay, and submit letters of recommendation. 

Some schools might also require professional experience, but even if the school doesn’t, it can help to have that work experience to put on the application. Schools usually also want students to have a 3.0 GPA or higher. 

How to Choose a Statistics Degree Program

There are many different factors when choosing the right statistics master’s program. Students should look at the length of each program, the course format, available concentrations, and final project requirements. Most programs are two years long, but students might also be able to find an accelerated program and be done in a year. It also might depend on if the student goes full or part-time. Students should also consider the curriculum and the cost. 

Accreditation status for each program can also make a difference and can affect future career opportunities. Departments often receive accreditation from field-specific accrediting bodies. Accreditation will indicate that the program meets set standards of quality for the profession. 

Top Master’s in Statistics Programs

There are many different master’s in statistics programs, some are in-person, and some are online. 

Here are 10 of the top master’s in Statistics programs: 

Top Online Master’s in Statistics Programs

Here are 10 of the top online master’s in statistics programs: 

Jobs With a Master’s Degree in Statistics

Statistician

Annual Median Pay: $74,253

Statisticians practice the science of using data to make decisions and decide what data they need, how to collect, analyze and interrupt it. 

Mathematician

Annual Median Pay: $71,216 

Mathematicians are similar to statisticians, who research and study different mathematical principles and theories.

Actuary

Annual Median Pay: $96,515 

Actuaries use statistics to help them determine the financial costs of various risks.

Director of Sports Analytics

Annual Median Pay: $93,110 

Directors of Sports Analytics use historical team and player data to predict outcomes to help coaches and teams get a competitive advantage.

Biostatistician

Annual Median Pay: $77,082

Biostatisticians analyze data about space exploration and atmospheric research for places such as NASA or SpaceX. 

Scholarships for Students Getting a Master’s in Statistics

Here are a few scholarships for those getting their master’s in statistics. You can also find our longer list of scholarships for statistic majors at College Recon. 

Gertrude M. Cox Scholarship

This scholarship is sponsored by the ASA Committee on Women in Statistics and Caucus for Women in Statistics to encourage more women to enter statistically oriented professions. There will be two recipients, one to a woman in or entering the early stages of graduate training at the master’s degree or Ph.D. level and one to a woman in a more advanced stage of training. There will also be honorable mentions. Students need to be women in the US or Canada, who are admitted to full-time study in a graduate statistics program. There are multiple recipients and the award is for $1,000. 

The Mikkelson Foundation

This scholarship is for a graduate of a Colorado high school who has been accepted to pursue a course of study or instruction at an accredited college or university granting undergraduate and/or graduate degrees. The student will need to show an ability to excel in mathematics and science, major in engineering, physical, or biological sciences or mathematics, and have the potential for substantial additional achievement after graduation. There will be multiple recipients and the award is for $4,000. 

Ralph W. Shrader Graduate Diversity Scholarship

This scholarship is from a generous contribution from Booz Allen Hamilton. The award is given to three full-time women, and minority students, enrolled in their 2nd semester, with at least two semester-equivalent courses completed. They also need to be currently pursuing a graduate degree at any accredited academic institution in the US and living in a way that supports the mission of the AFCEA Educational Foundation. Their focus should be on STEM or hard sciences. There is a list of qualifying majors on their website, including statistics. There are multiple recipients and the award is for $5,000. 

Edward C. Bryant Scholarship

This scholarship is for an outstanding graduate student in survey statistics to honor its co-founder and chair emeritus and to help support a student’s graduate education. The scholarship is based on a student’s potential to contribute to survey statistics, applied experience in survey statistics, and performance in graduate school. This scholarship is through ASA, the American Statistical Association. There is one winner and the award is for $2,500. 

 

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About the author

Julie Provost
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Julie Provost is a freelance writer, and blogger. She lives in Tennessee with her National Guard husband and three boys.

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