What is the Career Outlook for Statistics Professionals?

Statistics Career
Statistics Career

It’s easy to see why the career outlook for statisticians is so attractive to students with an interest in math, data analysis, and problem-solving. Many positions in this field offer engaging day-to-day work and a dynamic, regularly changing environment that stimulates critical thinking skills.

There are also a growing number of opportunities to seize in this field: The Bureau of Labor Statistics projected 31% career growth in the field through 2031, which is incredibly strong compared to the average for all occupations of 5%. Wages are strong as well. Statisticians earned a median salary of $96,280 in 2021. An online Master of Science in Applied Statistics degree from Michigan Tech can equip you with the knowledge and skills needed to compete for a variety of opportunities in this growing, lucrative, and engaging field.

The Tools Statisticians Need to Succeed

Statisticians need a robust set of skills and a broad knowledge base to successfully handle the many types of projects they may encounter in their careers. Some basic attributes that are especially valuable include:

  • Familiarity with a variety of software, including analytical, business intelligence, database management, and data analysis applications, along with programming
  • Deep knowledge of mathematical disciplines, the English language, computers, and electronics
  • Complex problem-solving, critical thinking, and reading comprehension skills supported by mathematical knowledge
  • Pattern detection, inductive and deductive reasoning, and related abilities

The right educational background will help statisticians build their talent in the field and develop important competencies, like effective written and oral communication skills.

Aspiring professionals with clear career goals can grow their skills through an online Master of Science in Applied Statistics from Michigan Tech. The program’s four major areas of focus serve as the foundation of a successful statistics career. This includes core abilities needed in the profession and talents that are required across the modern economy:

  1. Advanced Statistical Methods – Students learn about time-tested and emerging techniques.
  2. Programming And Technology – Learners build the technical knowledge needed to craft customized, in-depth analysis.
  3. Real-World Problem Solving – Program participants learn how to analyze real data sets and inform decision-making in a professional context.
  4. Communication and Leadership – Graduates can count on their abilities to communicate effectively with colleagues and clients, as well as effectively lead projects and teams.

Career Opportunities for Statisticians

Graduates with a Master of Science in Applied Statistics degree aren’t locked into a single career or a specific industry after graduation. There’s a need for statisticians in nearly all areas of the economy. A professional who can harness and effectively analyze data to discover the solution to a problem or potential opportunity can work in many fields. This type of relevant, widely applicable skill set allows statisticians to seek out many different careers and gives them leverage not frequently seen in the modern economy.

Large corporations are an obvious destination for statisticians. Such companies need thoughtful analysis across all of their business units. Positions for statisticians can be found in many areas:

  • Medical Research
  • College And Professional Sports
  • Education Engineering
  • Health Care
  • Insurance
  • Life Sciences and Biostatistics
  • Public Safety

A Master of Science in Applied Statistics degree supports students interested in many career paths. Through emphasis on real-world statistical workflows and datasets, students learn how current professionals conduct careful reviews and reach meaningful conclusions.

Why the Career Outlook for Statisticians is Positive

There’s no doubt statistics is an engaging field. Statisticians regularly work with new datasets and attempt to tackle new and intriguing problems. This exciting work environment is supplemented with a number of other benefits, ranging from salary to work-life balance.

  • Statisticians earned a median salary of more than $95,570 in 2021.
  • US News & World Report ranked statistician as one of the top ten best business jobs overall, thanks to a mix of high salaries, strong projected growth, and low on-the-job stress, among other factors.
  • In terms of job satisfaction, U.S. News and World Report found strong upward mobility and work flexibility across the profession.

Although statisticians can find career opportunities with just a bachelor’s degree, many of the more exciting and lucrative careers in the field require a master’s degree. Earning a Master of Science in Applied Statistics can position you to make the most of a career in the field of statistics.

Why MTU Is a Great Place to Earn Your Master of Science in Applied Statistics

Successfully completing a master’s degree requires consistent attention across the entire curriculum. For this reason, students with existing professional and personal responsibilities can find it especially difficult to earn their degree through traditional, on-campus programs. Commutes, standardized course schedules, and other factors can complicate the logistics of education. A Master of Science in Applied Statistics degree can streamline your learning experience, giving you the flexibility needed to balance earning a degree with current obligations. Michigan Tech allows you to complete this program 100% online, meaning anyone who qualifies can participate, regardless of location.

With three start dates per year and accelerated seven-week courses, you aren’t constrained by the traditional higher education model.

MTU also connects you with experienced enrollment advisors who take pride in supporting your educational decisions and sharing valuable context about our program offerings. By carefully comparing your individual goals against existing program offerings, our enrollment advisors ensure you make a thoughtful decision about furthering your education. Enrollment advisors can answer a variety of questions as you consider the possibility of earning an online Master of Science in Applied Statistics degree, including specifics of Michigan Tech’s online learning model, admissions criteria, and details about the admissions process and the curriculum itself.