Mathematical Statistics and Probability

Types of Degrees Mathematical Statistics and Probability Majors Are Getting

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

Education Level	Number of Grads
Master’s Degree	186
Doctor’s Degree	21

What Mathematical Statistics and Probability Majors Need to Know

People with careers related to mathematical statistics and probability were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Mathematical Statistics and Probability Majors

Mathematical Statistics and Probability majors often go into careers in which the following knowledge areas are important:

• 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.
• 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.
• 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.

Skills for Mathematical Statistics and Probability Majors

A major in mathematical statistics and probability prepares you for careers in which the following skill-sets are crucial:

• Mathematics - Using mathematics to solve problems.
• 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.
• Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
• 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.

Abilities for Mathematical Statistics and Probability Majors

A major in mathematical statistics and probability will prepare for your careers in which the following abilities are important:

• Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
• Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• 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 Mathematical Statistics and Probability Major?

People with a mathematical statistics and probability degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Actuaries	22.5%	$102,880
Mathematical Science Professors	9.4%	$73,230
Mathematicians	29.0%	$101,900
Statisticians	33.9%	$87,780

Who Is Getting a Master’s Degree in Mathematical Statistics and Probability?

This major attracts more men than women. About 57% of the graduates in this field are male.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	3
Black or African American	1
Hispanic or Latino	5
White	10
International Students	166
Other Races/Ethnicities	1

Geographic Diversity

Students from other countries are interested in Mathematical Statistics and Probability, too. About 89.2% of those with this major are international students.

Amount of Education Required for Careers Related to Mathematical Statistics and Probability

Some degrees associated with mathematical statistics and probability 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 mathematical statistics and probability careers below.

Education Level	Percentage of Workers
Bachelor’s Degree	26.9%
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.	6.9%
Master’s Degree	34.1%
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.	5.1%
Doctoral Degree	23.4%
Post-Doctoral Training	3.8%

Online Mathematical Statistics and Probability 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)	0	0
Certificate (2-4 Years)	0	0
Associate’s Degree	0	0
Bachelor’s Degree	2	1
Post-Baccalaureate	0	0
Master’s Degree	11	1
Post-Master’s	0	0
Doctor’s Degree (Research)	7	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Majors Related to Mathematical Statistics and Probability

You may also be interested in one of the following majors related to mathematical statistics and probability.

Major	Number of Grads
Statistics	8,292
Mathematics & Statistics	591
Other Statistics	574

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 QWFP under License

More about our data sources and methodologies.