Statistics is not an easy career path, and the role of a statistician is not something that just anyone can undertake. A statistician has the difficult responsibility of compiling and analyzing data for the purpose of guiding real-world business decisions. Given that it is a demanding career that requires a high skill level, how much do statisticians make?
A statistician’s work can take many forms, which makes it hard to pin down their earnings. For example, how much do freelance statisticians make? How much do statisticians of different experience and skill levels make? In this article, we have done our best to break down the information in a way that will give you a well-rounded idea of statistician salaries.
Statistician Salary: An Overview of How Much Statisticians Make
- Average Salary: $92,270
- 10th Percentile Salary: $52,700
- 90th Percentile Salary: $150,840
The median salary for statisticians in the United States is $92,270 according to the US Bureau of Labor Statistics (BLS). This means that a statistician making average pay earns almost six figures, which is far above what most occupations make. It is safe to say that, on average, becoming a statistician is a rewarding career choice.
The top 10 percent of professional statisticians are paid $150,840 per year and above, which is an even more impressive figure. Across the board, from the lowest 10 percent to the highest 10 percent, the annual salary range for statisticians looks promising. Everything within the average pay range is a reasonable possibility if you get the skills required for wage advancement.
How Much Do Statisticians Make Per Hour?
According to BLS, the average professional statistician earns an hourly wage of $46.72. The federal minimum wage in the United States is $7.25 per hour according to the US Department of Labor, so statisticians earn over six times as much. The 90th percentile wage for statisticians, meanwhile, is $72.52 per hour, which is 10 times the federal minimum wage.
Do Statisticians Make Good Money?
Yes, statisticians make great money, far more than the national average. As mentioned above, the average salary for a statistician is $92,270. This is more than double the average annual wage across all occupations, which is $41,950 according to BLS. Even statisticians at the 10th percentile of all earners make $52,700, which is still higher than the national average.
How Much Do Statisticians Make? A Salary Breakdown by Location, Experience, and Skills
The average earnings for statisticians on an annual and hourly basis do not necessarily reflect how much a single statistician makes in the real world. Your pay may not end up matching the typical salary because earnings also depend on your location, your experience, and your skillset. In this section, we explore how these factors affect how much statisticians make.
Statistician Salaries by Location
In this section, we explore how much statisticians make in some of the highest-paying cities. Below is a detailed table to help you digest the information. Data on median salaries, the 25th percentile, and the 75th percentile comes from ZipRecruiter.
|Location||25th Percentile Salary||Median Salary||75th Percentile Salary|
|San Mateo, CA||$43,500||$78,483||$99,345|
|Santa Monica, CA||$39,686||$71,601||$90,634|
Statistician Salaries by Level of Experience
Your level of experience plays a big role in how much you will be compensated for your services. Whether you’re just starting your career as an entry-level statistician, or you’re a mid-career statistician hoping for a senior statistician position at your company, you will find relevant information in the table below. The figures in the table were sourced from PayScale.
|Experience Level||10th Percentile Salary||Median Salary||90th Percentile Salary|
Statistician Salaries by Skill
During their education, statisticians are expected to acquire analytics skills, data science skills, problem-solving skills, and extensive knowledge of statistical theory, mathematical concepts, and mathematical techniques. After examining the data from PayScale, we have come up with a list of the most important statistician skills and detailed how much these skills pay.
|Skill||10th Percentile Salary||Median Salary||90th Percentile Salary|
How Much Do Freelance Statisticians Make?
On average, a freelance statistician earns about $40 per hour according to ZipRecruiter. The annual wage for freelance statisticians stands at $83,996 a year. Whether you are paid hourly or monthly, and whether you work in the private sector or for government agencies, it is clear that in a statistician role you stand to earn good money.
Statistician Job Outlook
According to the Bureau of Labor Statistics, the number of job openings for statisticians will increase by 35 percent between 2020 and 2030. This 35 percent employment growth means that, if you decide to become a statistician sometime in the next decade, your chances of finding job openings are good.
One reason for the high job growth for statisticians is that many in the statistics field will exit the labor force or transfer to different occupations. More importantly, the increased use of statistical methods throughout the economy will make the employment of statisticians more common. Finding a statistician position will not be difficult, especially for those with advanced training.
Is Statistics a Good Career?
Yes, statistics is a great career. Not only do statisticians play an essential role in a wide variety of industries, but the job also pays well and tends to lead to high job satisfaction according to US News. With statisticians in such high demand, this career is a good path to economic advancement and personal fulfillment for anyone with the right combination of skills.
How Much Do Statisticians Make? FAQ
To become a competent statistician, you should have a Bachelor’s Degree in Mathematics, as it is a career that involves a lot of calculation and statistical analysis. Becoming a statistician is one of the best things to do with a degree in mathematics.
Statisticians analyze data and come up with solutions to real-world problems, so the job requires a lot of hard skills as well as strong communication skills. Some of the technical skills you will need are analytical skills, mathematical skills, and some coding skills. Statisticians also have one of the best-paying jobs that use Excel.
Many underestimate the importance of coding in data analytics, but it is a skill that is highly useful for statisticians. You should learn Python for statistics because many of this language’s functions help statisticians do their jobs.
Yes. Almost all statisticians have at least a Bachelor’s Degree in Statistics, Math, or a related discipline. While an undergraduate level of education is necessary for entry-level positions, an advanced degree will give you even more career options. Having a PhD in Statistics, for instance, will increase your chances of getting a high-paying job and advancing in your career.
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