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Statistics Major

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Statistics

3,756 Master's Degrees Annually
474 Doctor's Degrees Annually
#47 in Popularity (Master's)
$92,600 Median Salary

Types of Degrees Statistics Majors Are Getting

The following table lists how many statistics graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Master’s Degree 3,756
Doctor’s Degree 474
Graduate Certificate 269

What Statistics Majors Need to Know

In an O*NET survey, stats 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 Stats Majors

This major prepares you for careers in which these knowledge areas are important:

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  • 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.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • 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.

Skills for Stats Majors

The following list of skills has been highlighted as some of the most essential for careers related to stats:

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  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Mathematics - Using mathematics to solve 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.
  • Speaking - Talking to others to convey information effectively.

Abilities for Stats Majors

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

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  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.

What Can You Do With a Statistics Major?

People with a stats degree often go into the following careers:

Job Title Job Growth Rate Median Salary
Actuaries 22.5% $102,880
Clinical Data Managers 33.9% $87,780
Clinical Research Coordinators 9.9% $123,860
Mathematical Science Professors 9.4% $73,230
Mathematicians 29.0% $101,900
Natural Sciences Managers 9.9% $123,860
Statisticians 33.9% $87,780
Survey Researchers 2.1% $57,700

Who Is Getting a Master’s Degree in Statistics?

3,756 Master's Degrees Annually
45% Percent Women
15% Percent Racial-Ethnic Minorities
Statistics runs middle of the road when it comes to popularity, ranking #47 out of all the graduate majors we track. In 2019, about 3,756 graduates completed their master’s degree in this field. Roughly 45% of the graduates are women, and 55% are men.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of Stats Students with Master's Degrees
Race/Ethnicity Number of Grads
Asian 333
Black or African American 53
Hispanic or Latino 107
White 790
International Students 2,332
Other Races/Ethnicities 141

Geographic Diversity

Stats appeals to people across the globe. About 62.1% of those with this major are international students. The most popular countries for students from outside the country are:

  • China
  • South Korea
  • India
  • Taiwan
  • Saudi Arabia

How Much Do Statistics Majors Make?

Master’s Degree Starting Salary

The median early-career salary of statistics students with a master’s degree is $81,500 a year according to 2017-2018 data from the U.S. Department of Education. During this timeframe, most salaries fell between $73,750 (25th percentile) and $91,950 (75th percentile).

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It’s important to note that just because the people reporting these salaries have a degree in stats, it does not mean that they are working in a job related to their degree.

Salaries According to BLS

Average salaries range from $87,140 to $116,250 (25th to 75th percentile) for careers related to stats. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Statistics Major  ( 87140 to 116250 )
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Median Salary for a High School Graduate  ( 30000 to 57900 )
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Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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Some degrees associated with stats 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.

Find out what the typical degree level is for stats careers below.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 1.1%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 1.2%
Associate’s Degree (or other 2-year degree) 1.9%
Bachelor’s Degree 40.4%
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. 5.5%
Master’s Degree 26.7%
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. 0.5%
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. 2.7%
Doctoral Degree 16.1%
Post-Doctoral Training 4.4%

Online Statistics Programs

In the 2018-2019 academic year, 261 schools offered some type of statistics program. 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) 10 0
Certificate (1-2 years) 2 1
Certificate (2-4 Years) 0 0
Associate’s Degree 3 1
Bachelor’s Degree 45 14
Post-Baccalaureate 10 0
Master’s Degree 171 16
Post-Master’s 6 0
Doctor’s Degree (Research) 85 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Statistics Worth It?

The median salary for a stats grad is $92,600 per year. This is based on the weighted average of the most common careers associated with the major.

This is 132% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,054,000 after 20 years!

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

Major Number of Grads
Mathematics 30,684
Applied Mathematics 9,625
Other Statistics 486

References

More about our data sources and methodologies.

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