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Statistics - scope, careers, colleges, skills, jobs, salary

Everything you need to know about making a career in the Statistics. Statistics careers, scope, colleges, skills required, job prospects and salary. Discover the complete information of Statistics here.

About Statistics


Definition

Statistics: the only science that enables different experts using the same figures to draw different conclusion. ~Evan Esar

Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. The two main statistical methods used in data analysis are:

  • Descriptive statistics: One which summarizes the data from a sample using indexes such as the mean or standard deviation.
  • Inferential statistics: One which draws conclusions from data that are subjected to random variation (e.g., observational errors, sampling variation).

Statistics Career Path


B.A. Statistics/ B.A. (Hons.) Statistics/ Bachelor of Statistics (Honors) [B.Stat (Hons)]/ B.Sc. (Statistics)/ B.Sc (Actuarial Science)
LevelUnder-Graduate
Duration3 years
Eligibility10+2 with mathematics, Some colleges ask for a minimum percentage in 10+2
Entrance ExamEvery institution/college conducts their own entrance tests. Some of them take direct admissions on merit basis.
Specialization--
Average Course Fee₹40,000 to ₹3,00,000
ModeRegular/Distance
GoalFinance Analyst, Statisticians, Business Analyst, Professor, Data Scientist, Statistic Trainer, Consultant, Biostatistician
Master of Statistics (M. Stat.)/M.Sc. (Statistics)
LevelUnder-Graduate
Duration2 years
Eligibilitya three-year Bachelor’s degree or a B.E./B. Tech. degree with Statistics as a full-time subject, or a Post-Graduate Diploma in Statistical Methods with Applications/Statistical Methods and Analytics.
Entrance ExamSome colleges conduct their own entrance exam.
Specialization--
Average Course Fee₹80,000 to ₹3,00,000
ModeRegular/Distance
GoalStatistician, Business Analyst, Professor, A research career in Statistics, Mathematics, Economics, work in government department/ scientific laboratories.
M.Phil.(Statistics)
LevelPre-Doctorate
Duration1-2 years
EligibilityM.Sc., (Statistics with Computer Applications) or M.Sc., (Statistics) degree course with a minimum of 55% marks in aggregate.
Entrance Exam--
Specialization--
Average Course Fee₹40,000 to ₹3,00,000
ModeRegular/Distance
GoalFinancial Analyst, Statisticians, Business Analyst, Professor, Data Scientist, Statistic Trainer, Consultant, Biostatistician, Econometrician
Ph.D.(Statistics)
LevelDoctorate
Duration3-6 years
EligibilityM.Sc., (Statistics) degree course with a minimum of 55% marks in aggregate. The percentage of marks may vary from university to university.
Entrance Exam--
Specialization--
Average Course Fee₹40,000 to ₹3,00,000
ModeRegular
GoalMarket Research companies, Governmental Statistical Service (GSS), Office for National Statistics (ONS), Finance Sector, Statisticians, Business Analyst, Professor, Consultant, Biostatistician, Econometrician

Colleges for Statistics


  • Aligarh Muslim University, Aligarh
  • Annamalai University, Tamil Nadu
  • Babu Banarasi Das University, Lucknow
  • Delhi University (DU), New Delhi
  • Hindu College
  • Indian Institute of Technology (IIT), Kanpur
  • Indian Institute of Technology Bombay
  • Indian Statistical Institute (ISI), Bengaluru
  • Indian Statistical Institute, Kolkata
  • Indira Gandhi National Open University (IGNOU)
  • Loyola College, Chennai
  • Madras Christian College, Chennai
  • Manipal University, Manipal
  • Manonmaniam Sundaranar University, Tamil Nadu
  • Pondicherry University, Pondicherry
  • University of Mysore
  • Vinayaka Missions University, Tamil Nadu

Top Colleges for Statistics


Scholarship / Fellowship in Statistics


  • Post-Doctoral Fellowship to SC / ST Candidates.
  • Rajiv Gandhi National Fellowship for SC Candidate.
  • National Fellowship for Persons with Disabilities.
  • Maulana Azad National Fellowship for Minority Students.

Statistics Key Skills


Analytical Skills

Communication Skills

Decision Making skills

Detail Oriented

Dexterous & Alert

Flexibility

Mathematical Aptitude

Passion for learning

Problem Solving

Statistics Career Prospects


  • Statistician
  • Business Analyst
  • Data Scientist
  • Statistic Trainer
  • Consultant
  • Biostatistician
  • Econometrician
  • Professor

Jobs in Statistics


  • Pharmaceutical Companies - Ranging From Small Local Firms To Large National And International Companies
  • Higher Education Institutions
  • Operational And Scientific Research Establishments
  • Contract Research Organizations
  • Public Sector Research Organizations (Such As The Health Protection Agency And The World Health Organization)
  • Regulatory Authorities
  • Market Research Companies
  • Manufacturing And Service Companies
  • Investment Companies And Banks
  • Insurance Companies
  • National Health Service

Salary in Statistics


The pay in this field varies according to knowledge and experience. One could get an initial pay of ₹20,000 to ₹50,000 per month.

Statistics Role Models




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