Business Statistics

Types of Degrees Business Statistics Majors Are Getting

The following table lists how many business statistics graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Master’s Degree	3,554
Graduate Certificate	539
Doctor’s Degree	5

What Business Statistics Majors Need to Know

In an O*NET survey, business statistics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Business Statistics Majors

According to O*NET survey takers, a major in business statistics should prepare you for careers in which you will need to be knowledgeable in the following areas:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Skills for Business Statistics Majors

business statistics majors are found most commonly in careers in which the following skills are important:

• Speaking - Talking to others to convey information effectively.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Mathematics - Using mathematics to solve problems.

Abilities for Business Statistics Majors

As you progress with your business statistics degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

What Can You Do With a Business Statistics Major?

People with a business statistics degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Business Professors	18.0%	$83,960
Mathematical Science Professors	9.4%	$73,230
Statisticians	33.9%	$87,780
Survey Researchers	2.1%	$57,700

Who Is Getting a Master’s Degree in Business Statistics?

According to recent stats this major attracts about equal numbers of men and women. Roughly 46% of the graduates are women, and 54% are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of business statistics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	216
Black or African American	100
Hispanic or Latino	104
White	707
International Students	2,306
Other Races/Ethnicities	121

Geographic Diversity

Business Statistics appeals to people across the globe. About 64.9% of those with this major are international students.

Amount of Education Required for Careers Related to Business Statistics

Some degrees associated with business statistics may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to business statistics have obtained the following education levels.

Education Level	Percentage of Workers
Bachelor’s Degree	16.4%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	1.2%
Master’s Degree	39.4%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	0.9%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	0.2%
Doctoral Degree	38.7%
Post-Doctoral Training	4.5%

Online Business Statistics Programs

The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	6	1
Certificate (2-4 Years)	0	0
Associate’s Degree	4	1
Bachelor’s Degree	35	14
Post-Baccalaureate	0	0
Master’s Degree	79	19
Post-Master’s	4	0
Doctor’s Degree (Research)	2	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Majors Related to Business Statistics

You may also be interested in one of the following majors related to business statistics.

Major	Number of Grads
Management Science	30,891
Other Management Sciences and Quantitative Methods	19,243
Actuarial Science	1,705

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By в±® under License

More about our data sources and methodologies.