Online Master's in Statistics Degrees

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Individuals who enjoy statistics and mathematics can consider pursuing a master's in statistics. Successful statisticians typically enjoy solving complex problems, working with numbers, and interpreting data.

The Bureau of Labor Statistics (BLS) projects employment for mathematicians and statisticians to increase 33% from 2019-2029, much faster than the average growth rate of 4% for all occupations. According to the BLS, these professionals earn a median salary of $93,290 per year.

This page explores common statistics degree requirements and the cost of earning a master's in the field, along with career options for graduates.

Statistics Majors FAQ

What kind of jobs do statistics majors get?

Graduates with a master's in statistics can become statisticians, data scientists, economists, math professors, and actuaries. These professionals often work for local governments and for-profit businesses.

How long does it take to get a statistics degree?

Most full-time learners need about two years to complete a statistics master's degree. Part-time students typically take about four years. Individuals can pursue accelerated programs to graduate sooner.

Are statisticians in high demand?

Yes. Companies and government agencies need qualified statisticians. The BLS projects employment for mathematicians and statisticians to increase 33% from 2019-2029.

How much do statisticians make?

According to the BLS, mathematicians and statisticians earn a median salary of $93,290 per year. However, an individual's earning potential depends on factors including geographic location, experience, and employer.

Why Get a Degree in Statistics?

Graduates with this flexible degree often become professors, who receive paid time off during the summer. Other graduates pursue careers as mathematicians with reliable government jobs and generous benefits. Statistics professionals typically earn above-average salaries and benefit from working in a field that aligns with their interests.

Additionally, master's in statistics curricula generally pair well with online learning formats. Statistics master's degrees rarely require in-person components, such as labs. Asynchronous online programs allow degree-seekers to complete assignments according to their schedule, and many distance learners save money on commuting and housing costs. Some schools even charge reduced tuition rates for online students.

How Much Does a Statistics Degree Cost?

Public institutions typically charge lower tuition rates than private schools. According to the National Center for Education Statistics, graduate tuition and fees at public institutions cost $12,171 on average for the 2018-2019 academic year. Private schools charged an average of $27,776 in tuition and fees for the same school year.

The cost of tuition and fees varies based on the individual's school and major. Students should research the cost of attending each prospective school when determining their budget and financial aid requirements.

Statistics programs rarely require additional lab fees. However, online learners should budget for the cost of reliable technology and internet access.

How Much Do Statistics Majors Make?

While the exact salary for a statistician varies based on factors such as location, employer, and experience, statisticians earn a median annual salary of $93,290, according to BLS data. The lowest 10% of these professionals earn less than $61,130, while the highest 10% earn more than $170,150 per year.

According to March 2021 PayScale data, statisticians with less than one year of experience earn an average salary of about $66,180 per year. Professionals with more than 20 years of experience earn an average annual salary of about $111,480.

Aspiring statisticians can also research regional job postings to understand typical salaries in their area.

Courses in Statistics

Statistics majors learn how to solve complex equations and apply discoveries in practical ways. Learners explore methods for interpreting and analyzing data, and they prepare to communicate findings through presentation graphics, such as graphs.

Advanced courses cover topics such as the impact of statistics on common social and scientific issues. Degree-seekers gain the skills necessary to collect and analyze large quantities of numbers and to apply findings in ways that benefit society.

The following list highlights three courses common to many statistics master's degrees. Course availability varies by school, so learners should contact their prospective institution for details about program requirements.

• Theoretical Statistics

  The class explores statistical decision theory. Learners study the theory's premise and practical applications. Coursework also covers Bayesian statistics, maximum likelihood estimators, confidence intervals, and nonlinear models.

• Probability

  Students in this course develop computing skills relevant to probability. The class explores topics such as axioms of probability, conditional probability, conditional densities, and laws of large numbers. Students examine the theories that shape probability, and they learn how probability relates to statistics and how to use probability software.

• Applied Statistics

  The class prepares degree-seekers to apply statistical findings to real-world scenarios. Learners prepare to collect data and form inferences. Students also learn to communicate findings to the general public, use statistical software packages for data analysis, and conduct hypothesis testing.

Certifications and Licensure for Statistics

While most statistician positions do not require a license or certification, professionals can obtain voluntary credentials to demonstrate expertise in the field. The following list highlights three common credentials for graduates of statistics master's degrees.

Best Online Master's in Statistics