Statistics play a major role in many companies and in our daily lives. A Masters in Statistics in India is a good idea for any student looking to become a statistician. Let us take a look at the MSc Statistics course in India and the job opportunities it provides.
An MSc Statistics course is a two-year postgraduate program. Applicants who have a Bachelor’s degree in Mathematics, Statistics or a related field have an advantage in applying.
This program trains students to use correct statistical methods to solve problems related to data analysis. Graduates should be able to solve real-world statistical; problems and implement their analysis on a computer to communicate the results clearly and easily. It familiarizes students with theoretical and applied concepts of studies. It gives them advanced knowledge of statistics, analysis and interpretation of data, along with subjects like Economics, Finance, Social Studies, and Econometrics.
Here are some of the topics included in this program-
● Linear Models and Regression Analysis
● Multivariate Analysis
● Ancillary Mathematics
● Matrix Theory and Numerical Analysis
● Distribution Theory
● Time Series Analysis
● Statistical Machine Learning
● Environmental Statistics
Salary and Job Prospects
MSc Statistics fresher graduates usually earn around 5-8 LPA. Senior Statistical Analysis positions pay large salaries of around 15-18 LPA. Here are some of the common job profiles of these graduates-
● Service Estimator
● Research Analyst
● Investment Analyst
● Subject Matter Expert
Big Data Analytics has exploded in the past few years, and along with the advancement of computers and networking, there is a lot of demand for statistics experts. There are many opportunities for statistics graduates in industries like Banking and Finance, Investment firms, Pharmaceutical companies, manufacturing companies, research institutes and Public Sector government agencies.
A PhD in Statistics will enable you to get even better high-paying positions such as Senior Research Analyst.
Data Science and Statistics is the backbone of any successful company. The proper use of statistics plays a major role in a firm’s success. Statistics professionals are required to ensure correct, data-driven decisions that lead to a strong future.
A Master’s degree in Statistics is a great option for students who are interested in statistics and mathematical studies. If you have a proclivity for solving arithmetic problems, then it is a great career. Statistics and Data is a field with a bright future as they form the backbone of any successful company.
Symbiosis Statistical Institute is among the top MSc Statistics Colleges in Pune, offering an excellent program in applied statistics that will prepare you for a successful career as a statistician.