Master of Statistics [M.Stat] Jobs, Scope, Salary in India

Duration

Average Fees

INR 50,000 - 90,000 P.A

Rahil Ahmed

Updated on Oct 3, 2022 by Rahil Ahmed

Rahil Ahmed

Updated on Oct 3, 2022 by Rahil Ahmed

Master of Statistics jobs is available for graduates in a wider and diverse variety of roles. Job opportunities exist for graduates in both the private and public sectors. Master of Statistics jobs after graduation include Statistician, Business Analyst, Mathematician, Data Analyst, Risk Analyst, and Biostatistician.

Career Prospects and Job Scope for a Master of Statistics Graduate

Jobs for the course graduates are available to students at ease. A student can easily map their Master of Statistics course as per his or her future aspirations. Listed below are some of the popular jobs after the Master of Statistics that are undertaken by graduates:

  • Data Analyst
  • Research Analyst
  • Assistant Professor
  • Enumerator
  • Biostatistician
  • Data Interpreter
  • Econometrician
  • Lecturer
  • Research Scholar
  • Statistician

Areas of Recruitment for Master of Statistics

Students pursuing a Master of Statistics course are not limited to their specific areas of study after graduation, resulting in a diverse job market. There are numerous Master of Statistics jobs available for graduates in both the private and public sectors. Some of the areas of recruitment are as follows:

  • Indian Economic Services
  • Business Complexes
  • Commercial Hubs
  • Educational Institutes
  • Indian Statistical Services
  • Social Research Centres
  • Consulting Firms
  • Data Survey Agencies
  • Insurance Companies
  • Statistical Research Centres
  • Economics
  • Financing Sector
  • Indian Civil Services
  • Public-Sector Undertakings (PSUs)
  • Statistical and Economic Bureaus
  • Banks

Master of Statistics Salary

The salary for Master of Statistics graduates can vary depending on the specialisation chosen by the aspirants. Experience, location, and specialisation are all factors that can influence the Master of Statistics salary in India. Internships and work placements can help graduates increase their salary by broadening their experience.

Master of Statistics Salary in India

The average Master of Statistics Salary for graduates is around INR 4 - 15 LPA [Source: PayScale]. The table below shows the salary breakdown of Master of Statistics graduates in India:

Master of Statistics Salary

Amount

Highest Salary

INR 15 LPA

Lowest Salary

INR 4 LPA

Average Salary

INR 7.5 LPA

Source: Glassdoor

The table below contains the list of Master of Statistics Job profiles and their average salaries per annum:

Designation

Salary

Data Analyst INR 4.6 LPA
Research Analyst INR 4 LPA
Enumerator INR 6.9 LPA
Data Scientist INR 8.9 LPA
Biostatistician INR 14 LPA

Source: Payscale

Master of Statistics Salary Abroad

According to PayScale, the annual salary of a Master of Statistics Graduate in India is around INR 4- 15 LPA. Statistics is one of the most popular courses in the world, making it an appealing option for Indian students. The table below contains a list of job profiles available in other countries, as well as the annual salaries associated with them.

Job Profile

Salary 

Statistician USD 78,431 P.A
Biostatistician USD 77,702 P.A
Data Scientist USD 97,294 P.A
Research Analyst USD 57,839 P.A 
Data Analyst USD 62,838 P.A

Source: PayScale

Career Scope of Master of Statistics

In terms of multidisciplinary job opportunities and the breadth of higher education available to graduates, the Master of Statistics is one of the most diverse degree programmes.

Based on their graduation grades and specialisation, students will find a relevant job in their field or a suitable course for further education. Whether a graduate chooses to work or further their education, Statistics has a wide range of applications. The course is primarily designed for working professionals.

Career Options after Master of Statistics

There are a number of employment domains that Master of Statistics graduates can join immediately after graduation. The Master of Statistics Is one of the most diverse courses in terms of employment opportunities for graduates. The list of career opportunities available to the graduates is as follows:

  • Data Analyst: Data analysts use the information to help their companies make better business decisions. Data analysts use techniques from a variety of disciplines, including computer programming, mathematics, and statistics, to draw conclusions from data in order to describe, predict, and improve commercial enterprise overall performance. They are typically generalists who are well-versed in mathematical and statistical evaluation techniques and serve as the foundation of any analytics group.
  • Enumerator: Enumerators conduct door-to-door interviews in order to collect census data. They assist the census bureau in compiling data on the population of a specific town, kingdom, or country. Enumerators typically paint only during the census period and in their immediate surroundings.
  • Biostatisticians: Biostatisticians use mathematics, facts, and statistics to work in biosciences. Throughout their studies, they collect, examine, and summarise data in order to draw conclusions about topics such as medicine and agriculture.
  • Data Interpreter: The daily responsibilities of a data Interpreter include converting data from the language into the specified target language, carefully modifying material to account for the first tone and context of translated data, and communicating spoken messages efficiently and clearly.

Government Jobs for Master of Statistics Graduates

The salary for a Master of Statistics Job position varies depending on the aspirant's specialisation choice and his or her sector of employment. Master of Statistics course jobs is also available in the government sector. Graduates can expect to earn between INR 4 and 10 LPA (Source: Payscale) on average in Master of Statistics Jobs.

Top Government Hiring Roles

Salary

Enumerator INR 5.8 LPA
Statistician INR 5 LPA
Lecturer INR 5.4 LPA

Source: Payscale

Private Jobs for Master of Statistics Graduates

Students who do not want to work for the government can pursue a career in the private sector after earning a Master of Statistics. Master of Statistics Students has a plethora of job opportunities in the private sector. The average salary for a Master of Statistics Job for graduates is around INR 17 LPA (Source: Payscale). The following are the job titles:

Top Private Hiring Avenue

Salary

Social Research Centres INR 4.9 LPA to 10 LPA
Consulting Firms INR 4 LPA to 17 LPA
Insurance Companies INR 4.1 LPA to 15 LPA
Financing Sectors INR 4 LPA to 17 LPA
Banks INR 3.8 LPA to 15 LPA

Source: Payscale

Job Opportunities Abroad for Master of Statistics Graduates

Graduates with a Master of Statistics have a wide range of opportunities in the global job market. Because the training and information they receive are so specialised, there is a greater demand for those graduates than there is supply. The course is designed in such a way that every student, regardless of specialisation, can find work in a foreign country.

Top Companies for Master of Statistics Graduates

Below is a list of the top international companies that hire Master of Statistics graduates:

  • HDFC Bank
  • Citibank
  • ICICI Bank
  • Amnesty International
  • Boston Consulting Firm

Best Countries for Master of Statistics Graduates

Below is the list of top countries offering job opportunities to Master of Statistics graduates:

  • the USA
  • United Kingdom
  • Japan
  • Australia
  • Denmark
  • South Africa

Various Career Designations Abroad for Master of Statistics Graduates

Here is the list of exciting job roles that attract Master of Statistics graduates to work abroad:

  • Biostatistician
  • Data Interpreter
  • Econometrician
  • Lecturer
  • Research Scholar

Famous Master of Statistics Graduates 

There is a famous statistician who pioneered marvellous techniques in the development of statistics. Below is a list of a few Master of statistics graduates:

  • Johann Carl Friedrich Gauss 
  • Florence Nightingale
  • Karl Pearson
  • William Sealy Gosset
  • Ronald A. Fisher
  • Gertrude Cox

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