Pursuing one of the best statistics master’s degrees will increase your salary potential and improve your career prospects. An increasing percentage of undergraduates go on to pursue a Master’s Degree in Statistics, according to the US Census. Advanced training through complex projects, thesis writing, and collaborative research equips you with professional experience and solidifies your credibility.
In this article, we outline the best statistics master’s degree programs, their class offerings, and program requirements. We also delve into statistics master’s degree jobs in a variety of fields. If you want to delve deeper into statistics fundamentals, experimental data analysis, data mining, and predictive analytics, a Master’s Degree in Statistics may be the right choice for you.
Where Can I Get a Master’s Degree in Statistics?
Some of the best universities for statistics master’s degree programs are Arizona State University, Texas A&M University, Stanford University, and North Carolina State University. These universities offer flexible master’s degree courses and have received various accolades for their outstanding programs. Students can select between in-person, hybrid format, and online classes. The universities extend their services to include full-time, part-time, and distance learners.
What Schools Offer the Best Statistics Master’s Degrees?
- Arizona State University
- North Carolina State University
- Stanford University
- Texas A&M University
What Are the Admission Requirements for a Master’s Degree in Statistics?
The admission requirements for a Master’s Degree in Statistics include an undergraduate degree in a related field, transcripts, GRE or GMAT scores, letters of recommendation, a personal statement, application fees, and a professional resume. Most universities require a 3.0 GPA and transcripts from every institution you have attended for your higher education.
The Admissions Department uses this information to shortlist candidates who qualify for a master’s program. You will complete an online application form and send the required documents via email or mail, depending on the institution’s admission procedure.
Statistics Master’s Degree Admission Requirements
- 2.7-3.0 cumulative GPA
- A bachelor’s degree in a relevant field
- Official transcripts
- Letter of recommendation
- Professional resume
- Personal statement
How to Get a Master’s Degree in Statistics
You will obtain a statistics master’s degree by fulfilling the university’s graduation requirements and attaining the specified credit hours. These comprise a capstone project, core courses, elective courses, and lower and upper-level courses. Most institutions require students to complete the master’s program in less than five or six years. Below is an extensive description of all the graduation requirements.
How Many Credits Do You Need for a Master’s Degree in Statistics?
You need at least 30 to 60 credits to earn a Master’s Degree in Statistics. The minimum number of credits varies from institution to institution and depends on the curriculum. Usually, universities highlight the minimum number of credits under the statistics master’s program requirements.
Statistics Degree Requirements
- Specific credit hours. You must fulfill the required credit hours as per the school’s prerequisites. Generally, you must attain 30 to 60 credit hours, depending on the school.
- Thesis or capstone project. Research is a significant part of a master’s program, and a thesis or capstone project helps to showcase an understanding of the program. Graduate students will need to submit a capstone project or thesis as the final step of a master’s degree. These projects make up for at least three credit hours.
- GPA requirements. You will need at least a 2.7 to 3.0 grade point average (GPA) in all statistics courses to graduate. The GPA differs depending on the school. In addition, you may have to attach your GRE scores and other standardized test scores.
- Time frame. Generally, a master’s degree takes two years to complete. However, you can earn your degree in one year on an accelerated degree track or take up to five or six years as a part-time student. The career services team will take you through all the learning options to help you narrow down the most suitable degree timeline.
- 500-level and above courses. If you check the curriculum, you may notice 400-level, 500-level, and 600-level courses. Advanced courses enhance your critical thinking, writing, analysis, and communication skills. You must complete two or more advanced courses that will account for your overall credit hours.
Best Statistics Master’s Degree Programs and Schools: Overview
| School | Program | Accreditation |
|---|---|---|
| City University of Seattle | Bachelor of Science in Cybersecurity | Northwest Commission on Colleges and Universities |
| Dakota State University | Bachelor of Science in Cyber Operations | Higher Learning Commission |
| Drexel University | Bachelor of Science in Computing and Security Technology | Middle States Commission on Higher Education |
| Georgia Southern University | Bachelor of Science in Criminal Justice and Criminology (Emphasis in Cybercrime) | Southern Association of Colleges and Schools Commission on Colleges |
| Northeastern University | Bachelor of Science in Cybersecurity | New England Commission of Higher Education |
| Old Dominion University | Bachelor of Science in Cybercrime (Interdisciplinary Studies) | Southern Association of Colleges and Schools Commission on Colleges |
| Regent University | Bachelor of Science in Cybersecurity | Southern Association of Colleges and Schools Commission on Colleges |
| Pennsylvania State University | Bachelor of Science in Cybersecurity Analytics and Operations | Middle States Commission on Higher Education |
| University of South Florida | Bachelor of Science in Cybersecurity | Southern Association of Colleges and Schools Commission on Colleges |
| University of Southern California | Bachelor of Arts in Intelligence and Cyber Operations | Western Association of Schools and Colleges |
Best Schools for Statistics: Top Statistics Master’s Degree Programs
The universities above are the best for master’s-level programs in statistics. You will enjoy flexible schedules, engaging curricula, and state-of-the-art learning resources at these campuses. Below is an overview of the school’s history and program details to help you during your school search.
What Is a Statistics Master’s Degree?
A statistics master’s degree is a graduate program that is a level above a statistics bachelor’s degree. A Master’s Degree in Statistics provides advanced training and specialized statistics coursework for students with a foundation in mathematics. Usually, a statistics master’s degree takes graduate students two years of study to complete if they are in a full-time program.
The best statistics master’s degrees cover the practical application of mathematical sciences. You will learn about mathematical and applied statistics, data analytics, programming, data structures, and data science. The master’s degree prepares you for senior-level positions in tech, research, medicine, engineering, business, and education organizations.
How Important Is a Master’s Degree in Statistics?
A Master’s Degree in Statistics is essential for anyone looking to advance their career in the field of statistics. The Bureau of Labor Statistics (BLS) states that professionals with a master’s degree have a higher earning potential than bachelor-level professionals. With the advanced experience, skills, and knowledge earned while studying for a master’s degree, you can thrive in senior roles and negotiate for higher salaries.
Apart from salary benefits and a broader professional pool, you will gain specialized knowledge in the areas of statistics. Statistics is a broad field, and pursuing a master’s allows you to narrow down on a specific niche. Furthermore, many employers now consider a master’s degree the new normal for job role requirements and future career advancement.
What Types of Master’s Degrees Can You Get in Statistics?
The two types of master’s degrees you can earn in statistics are a Master of Science or Master of Arts. These degree programs have a similar curriculum outline, time frame, and graduation requirements. Some institutions also offer a Master of Research in Statistics, which delves into statistics research and develops advanced research skills that prepare you for a doctoral degree.
Is It Better to Get a Master of Science or Master of Arts in Statistics?
A Master of Science in Statistics is better for students who prefer to focus on tech-related scientific or mathematical courses. In an MS program, you will study courses in computer science, engineering, biochemistry, economics, and mathematics. In addition, MS students participate in lab work and scientific research and hone their logical math skills.
A Master of Arts in Statistics prioritizes humanities courses, including literature, English, languages, art, and communications. MA in Statistics programs focus on research and discussion-based learning through seminars and collaborative class engagements.
The main difference between an MS and MA in Statistics is the thesis requirement. An MS will require additional mathematics courses and a thesis for program completion while a MA in Statistics does not.
What Is the Difference Between a Statistics Master’s Degree and a Statistics Certificate?
The difference between the two educational paths is that a certificate typically takes one year and requires 12-15 credit hours to complete, whereas a statistics master’s degree has a two-year duration and requires 30 or more credits. Also, a certificate program is more affordable than a Master’s Degree in Statistics. Finally, a statistics master’s degree focuses on skills in the field of statistics as a whole, while a graduate certificate in statistics offers specialized training in a specific area of statistics.
How Much Does It Cost to Get a Master’s Degree in Statistics?
It costs from $8,875 to $44,667 to get a Master’s Degree in Statistics. These numbers from the National Center for Education Statistics (NCES) include tuition costs and required fees for public and private institutions. These figures can fluctuate depending on whether you are an in-state student or an out-of-state student. Most institutions also allow students to pay per credit, which is cheaper for transfer students.
How Long Does It Take to Get a Statistics Master’s Degree?
It takes approximately two years in a full-time program to get a statistics master’s degree as a graduate-level student. However, this timeframe will change if you are a part-time student or in an accelerated program. Most universities require students to complete a master’s degree within five or six years.
You can take two courses per semester as a part-time student and complete your master’s in five years. Alternatively, you can complete eight credits per semester and finish the degree in two years. With 15 credits per semester, you can get your master’s in one year. Many universities offer these different degree options to cater to a variety of needs and personal goals.
How Hard Is It to Get a Master’s Degree in Statistics?
It is very hard to get a Master’s Degree in Statistics. First, you must complete your undergraduate in mathematics or statistics, which takes four years and requires at least 120 credit hours of coursework. Only then can you strive for a Master of Statistics.
A statistics master’s degree is time-consuming, and the curriculum is challenging. You must complete prerequisite coursework, meet the credit hour requirements, and complete a thesis or capstone project which usually takes six months of research and execution. The coursework is also very complex, requiring focus and a lot of commitment.
Why Should You Get a Statistics Master’s Degree?
You should get a statistics master’s degree to acquire in-depth knowledge in statistics. The statistics industry relies on analytical skills, mathematical capability, and hands-on experience. A master’s degree has a condensed curriculum that focuses on developing these skills and enhancing your professional value. Pursuing a statistics master’s degree allows you to diversify your career opportunities and negotiate better salaries.
What Courses Do You Need to Take in a Master’s Degree Program in Statistics?
During a Master’s Degree in Statistics, you need to take courses in applied statistics, mathematical statistics, regression, probability theory, statistical analysis, data management, and programming. These courses cover all aspects of statistics, including research, analysis, data interpretation, and execution.
Mathematical Statistics
This course explores the application of mathematics in statistics. You will learn how applied mathematics uses probability theory to collect statistical data. The course enhances your mathematical foundation by providing rigorous training in complex equations and problems.
Data Management
Data management is a required course where you will learn advanced methods of collecting, analyzing, and storing data. The course also covers the applications of these methods in real-world projects. Additional skills taught include programming, data analysis, and critical thinking.
Applied Statistics
An applied statistics course in a master’s degree program covers hypothesis testing, descriptive statistics, estimation, confidence intervals, power, regression, and diagnostics. In addition, you will learn about planning, managing data, drawing conclusions, and interpreting data. This is usually an upper-level course that requires at least three credit hours.
Statistical Programming
Statistical programming involves the use of computation techniques to understand the efficiency of a product and analyze data. You will learn to apply different statistical concepts, write code, and explore statistical programming languages. These languages are crucial in data science and reconfiguring unstructured data.
Predictive Analytics
This course covers a broad area of study that focuses on the art and science of predictive analysis. You will learn to build reliable predictive models to make actionable performance predictions. Additionally, students gain advanced data analytics skills related to resource assets and operations.
Continuing Education Paths for Statistics Master’s Degree Graduates
After completing your statistics master’s degree, your continuing education path could involve pursuing a PhD in Statistics, the highest education level in the career field. Alternatively, you can apply for a graduate certificate, online courses, or licensing and certification courses that develop your skills without the long-term commitment.
Related Statistics Degrees
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What to Look For in the Best Statistics Master’s Degree Programs
A Master’s in Statistics is a demanding degree and significantly impacts your career trajectory. During your school search, you should consider cost, class offerings, your professional goals, the pace of study, and degree options.
You will put in hours of research, take advanced studies courses, and work on complex projects that contribute to your degree. Below are the top five factors to consider when selecting the best statistics master’s program for you.
Pace of Study
The pace of study refers to the speed at which you complete your graduate education. Typically, a Master’s Degree in Statistics takes two years. However, if you want to complete your degree sooner, you can find degree options that support an accelerated track. This degree allows you to complete your degree in about one year.
Alternatively, if you can’t commit to full-time graduate studies, select a master’s program that offers flexible hours of coursework. Part-time statistics graduate students can take up to five years to complete the degree.
Cost
A Master’s in Statistics is not cheap. Therefore, consider the cost and tuition payment options when you select a statistics master’s degree. Remember, a high tuition cost does not have to be a deal-breaker, as the school’s graduate department should have an array of payment options and financial aid to accommodate all students.
Graduation Rate
Consider the institution’s graduation rate as it provides insight into the number of students who complete the degree. The graduation rate also indicates the school’s accountability and how it motivates its students. You can check the National Center for Education Statistics or official school websites to find out these rates.
Curriculum Content
A Master’s Degree in Statistics features a curriculum that requires approximately 30 credits. You will complete core classes, including mandatory courses, elective courses, and a thesis or capstone project. The best statistics master’s degree curriculum should include courses on mathematics and statistics, statistical models, scientific computing, numerical analysis, database management, applied statistics, and logistics regression.
Flexibility
Universities offer in-person and online programs on a full-time or part-time basis. These offerings allow recent undergraduates and working professionals to find the perfect master’s program for their needs. The best programs offer flexibility and you can choose your course of study depending on your financial capability, schedule, and goals.
What Is the Most Affordable Statistics Master’s Degree?
The most affordable statistics master’s degree is available at Oklahoma State University. According to NCES data, the annual in-state tuition is $5,611 and $21,114 for out-of-state students. Additional costs will include application fees, books and supplies, accommodation, and additional resources.
Salary and Job Outlook for Statistics Master’s Degree Graduates
Many people pursue a statistics master’s degree to expand career prospects and salary potential. With a Master’s Degree in Statistics, you can explore careers in a variety of industries and develop specialized skills that translate to career longevity. Read on to discover the salary outlook and some of the highest-paying jobs for a Master’s in Statistics.
How Hard Is It to Get a Job With a Statistics Master’s Degree?
It is not hard to get a job with a statistics master’s degree. Employers are quick to hire applicants with a master’s degree or higher. In addition, pursuing a Master’s Degree in Statistics diversifies your job search because you can apply for high-level jobs in government, technology, engineering, health care, education, and the finance industry.
The Bureau of Labor Statistics (BLS) projects a 33 percent job growth rate for statisticians and mathematicians between 2020 and 2030. To facilitate your job search, statistics master’s degree institutions also invest in student services, career coaching, and counseling to prepare students for graduate careers.
What’s the Average Statistics Master’s Degree Salary?
According to Payscale, the average salary for someone with a statistics master’s degree is $89,000 per year. However, the average annual wage can fluctuate depending on your title and responsibilities.
For example, a senior data analyst earns an annual median wage of $84,485, a statistical analyst earns $68,707, and a senior data scientist takes home over $120,000 annually. These salary estimates exclude benefits and perks, which differ from employer to employer.
What Types of Jobs Can You Get With a Statistics Master’s Degree?
The types of jobs you can do with a statistics master’s degree include data scientist, biostatistician, quantitative analyst, actuary, mathematician, and statistics professor. Statistics master’s degree graduates enjoy a wide variety of career opportunities that lead to professional independence and fulfillment.
Statistics Degree Jobs
- Statistician
- Data scientist
- Mathematician
- Market research analyst
- Financial analyst
Potential Careers With a Statistics Degree
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How Much Money Can You Make With a Master’s Degree in Statistics?
You can make between $80,000 and $130,000 with a Master’s Degree in Statistics. However, this number can grow depending on your negotiation skills and employer, as a master’s degree is highly valued in the professional sector. Here are some of the highest-paying jobs for a statistics master’s degree holder.
Highest-Paying Statistics Master’s Degree Jobs and Salaries: Overview
| Statistics Master’s Degree Jobs | Average Salary |
|---|---|
| Director of Analytics | $129,430 |
| Senior Data Scientist | $127,452 |
| Mathematician | $108,100 |
| Actuary | $105,900 |
| Statistician | $95,570 |
Best Jobs for Statistics Master’s Degree Grads
Below is a list of the best statistics master’s degree jobs. This will give you an idea of what to expect as a master’s degree graduate. Each job details the job outlook and lists the highest-paying states. This information helps you evaluate your degree options, plan your pace of study, decide on employment location upon graduation, and establish your career goals.
Best Jobs According to Your Major
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Is a Master’s Degree in Statistics Worth It?
Yes, a Master’s Degree in Statistics is worth it. You will expand your knowledge of statistics fundamentals and advanced topics and gain access to senior-level job opportunities upon graduation. Advancements in technology bring a lot of changes to the industry, and continuing your education at the master’s level keeps you up-to-date on the latest software, technology, and statistics resources.
The industry is growing, and although bootcamps, online courses, and undergraduate degrees build your foundation in statistics, a master’s degree will open more doors in a variety of industries. This will help you to reach your professional goals and earn a higher annual wage.
Additional Reading About Statistics
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Statistics Master’s Degree FAQ
No, you cannot get a statistics master’s degree for free. Usually, these degree programs are expensive because of the complex coursework, quality of academic resources, and certification. However, most institutions allow students to pay per credit or apply for financial aid.
Other universities known for successful statistics master’s degree programs include Carnegie Mellon University, Oregon State University, North Carolina State University, Duke University, Eastern Kentucky University, and Columbia University. Finding the best graduate school for your master’s degree depends on your personal goals, budget, and availability.
Yes, you can apply for a senior role with a Master’s Degree in Statistics. A statistics master’s degree demonstrates your proficiency in the field and proves that you have the skill set to take on more responsibility in different career fields.
It can take between one year and six years to earn a Master’s Degree in Statistics. The time frame depends on your desired pace of study, which can be full-time or part-time. For example, if you want to complete 30 credit hours within a year, you can split the program into two semesters of 15 credits each. If you take two courses per semester, you can complete the master’s degree in five years.
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