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Online Master’s Degree in Statistics

Statisticians use their quantitative knowledge to analyze various types of data that they collect from sources like opinion polls or various experiments. Because of their knowledge and skills, they work in a wide variety of industries, including computer technology, data analysis, biostatistics, and finance. Individuals interested in working in this profession should consider earning a master’s degree in statistics, which is offered in classrooms at traditional colleges and universities and online. The advantage to earning an online master’s degree in statistics is you can complete your course work in your own time without having to set aside obligations you have to your employer or your family.

Classes for an Online Master’s Degree in Statistics

The curriculum for an online master’s degree in statistics program is typically designed to give students the qualitative skills they need to succeed as professionals while also enabling them to specialize in a certain field through the elective courses they take. Depending on the program, students may be able to specialize in data analysis, mathematical statistics, biostatistics, statistical genetics, statics and finance, and more. Regardless of their specialization, students may take essential graduate-level statistics courses such as statistical analysis, regression analysis, mathematical statistics, and statistical methods. Here are some common master’s-level statistics courses:

  • Statistical Methods
  • Theory of Probability and Statistics
  • Statistical Computing
  • Stochastic Processes
  • Theoretical Statistics

Program requirements tend to vary by the institution that is offering the degree. Some colleges and universities require the completion of a written exam that discusses statistical methods and theories, while others require participation in seminars. Some institutions provide programs that give students consulting experience or exposure to cutting edge methods used in the industry through seminars and special courses.

A Career as a Graduate with an Online Master’s Degree in Statistics

Acquiring a master’s degree in statistics may prepare an individual for a career as a statistician. A statistician uses his or her mathematical skills to analyze and interpret data that could affect social, political, economic, and military decisions. He or she is responsible for determining the problems that need to be addressed, the data needed to come up with a solution, and designing surveys or experiments to collect the required data. Once that is done the statistician must then analyze the data and report their conclusions. Statisticians are employed across a wide range of industries, including for the federal government, scientific research and development services, colleges and universities, and insurance companies, according to the U.S. Bureau of Labor Statistics (BLS). The median annual salary earned by statisticians in May 2010 was $72,830, and those employed by the federal government earned a median wage of $94,970, according to the BLS. Employment of statisticians is expected to increase 14% from 2010 to 2020 because of a greater use of statistical analysis in making organizational decisions. However, these projections are no guarantee of salary of employment opportunity, which is determined by location, employer, condition of the economy, and the applicant’s credentials.

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