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The best online statistics master’s degrees prepare students to work in many different fields. Graduates of online statistics master’s degrees can become data scientists, management analysts, or statisticians. A further option is to enter the field of market research analysis. This group of experts is relied upon by businesses to forecast sales and returns on investments.
Graduate studies in statistical science are suitable for those who enjoy working with numbers and data. It is possible to get an online Master’s Degree in Statistics while maintaining a full-time job. In this article, we discuss the schools that provide the best online programs for this field, as well as the best statistics master’s degree jobs and salaries.
Where Can I Get a Statistics Master’s Degree Online?
Some of the best schools to get a statistics master’s degree online are Arizona State University, Texas A&M University, North Carolina State University, University of Idaho, and University of Houston.
What Schools Offer the Best Statistics Master’s Degrees?
- Texas A&M University
- North Carolina State University
- Arizona State University
- University of Idaho
- University of Houston
What Are the Admission Requirements for an Online Statistics Master’s Degree?
The admission requirements for an online statistics master’s degree are typically a bachelor’s degree, preferably with a major in statistics, and a minimum GPA of 3.0. Along with your degree, many schools also require that you complete prerequisite courses like calculus and linear algebra.
Besides the undergrad requirements, you also have to provide results of standardized tests like GRE/GMAT, a letter of recommendation, a resume, and a personal statement.
Online Statistics Master’s Degree Admission Requirements
- A bachelor’s degree with a minimum 3.0 GPA (varies)
- GRE/GMAT scores
- Letter of recommendation
- Personal statement
- Resume
- Prerequisite courses (such as linear algebra and calculus)
How to Get a Statistics Master’s Degree Online
You get a statistics master’s degree online by fulfilling all of the graduation requirements including completing the credits required for graduation, completing any required research work, and complying with the rules and regulations of the school throughout your time enrolled.
Statistics Degree Requirements
- Complete 30-36 credits of core, elective, and capstone courses
- Thesis or internship
- Maintain a minimum GPA of 3.0 in the core courses (varies)
- Complete the minimum threshold for online attendance in lectures
Best Online Statistics Master’s Degree Programs and Schools: Overview
| School | Program | Accreditation |
|---|---|---|
| Arizona State University | Master of Science in Business Analytics | Higher Learning Commission |
| Colorado State University | Master of Applied Statistics | Higher Learning Commission |
| Iowa State University | Master of Business Analytics | Higher Learning Commission |
| North Carolina State University | Master of Statistics | Southern Association of Colleges and Schools, Commission on Colleges |
| Oklahoma State University | Master of Science in Applied Statistics | Higher Learning Commission |
| Texas A&M University | Master of Science in Statistics | Southern Association of Colleges and Schools, Commission on Colleges |
| University of Houston | Master of Science in Statistics and Data Science | Southern Association of Colleges and Schools, Commission on Colleges |
| University of Idaho | Master in Statistical Science | Northwest Commission on Colleges and Universities |
| The University of Kansas | Master of Science in Applied Statistics & Analytics | Higher Learning Commission |
| University of Kentucky | Master of Applied Statistics | Southern Association of Colleges and Schools, Commission on Colleges |
Best Schools for Statistics: Top Online Statistics Master’s Degree Programs
Below is a list of schools that offer the best online statistics master’s degrees, along with their respective details, including an overview of the program, the admissions requirements, and how to apply.
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Arizona State University | Scottsdale, AZ
Arizona State University (AZU) is a public research institution located in the Phoenix metropolitan region. ASU was founded in 1885 by the 13th Arizona Territorial Legislature and is one of the largest public institutions in the United States in terms of enrollment.
Master of Science in Business Analytics
The Master of Science in Business Analytics from Arizona State University teaches students how to evaluate, analyze, and manipulate data to make strategic business decisions. Graduates will be prepared to work in marketing, finance, supply chain management, and information management.
Master of Science in Business Analytics Overview
- Accreditation: Higher Learning Commission
- Tuition: $899.80/credit (in state); $1,053.33/credit (out of state)
- Required Credits: 30 credits
- Program Length: 2 semesters at 15 credits per semester
- Learning Format: Online
- NCES School Graduation Rate: 24%
Master of Science in Business Analytics Admission Requirements
- GPA: 3.0 recommended
- Standardized Tests: GMAT or GRE
- Application Fee: $70
- Minimum Education: Bachelor’s degree
- Other Requirements: Academic transcripts, letters of recommendations, resume, personal statement
Applying to Arizona State University
- Make sure you have a bachelor’s degree with at least a 3.0 GPA from an accredited US school or an internationally recognized institution
- Complete your online application on the university’s website by uploading all the required documents
- Complete and submit the online application by selecting “100% online” as your campus of choice
- Pay the $70 application fee
- Have your academic transcripts sent directly to the school by your previous institution
Colorado State University | Fort Collins, CO
Colorado State University (CSU) is located in Fort Collins. It is the flagship of the CSU System. In 2018, there were roughly 34,000 students enrolled, including residents and non-residents. Eight colleges and 55 departments feature roughly 2,000 faculty members.
Master of Applied Statistics
The Master of Applied Statistics at CSU prepares online students to work as statisticians in the science industry, government, or academia upon graduation. Online graduates obtain the same regionally accredited degree as on-campus students, taught by the same professors. This program is designed for students who do not intend to earn a PhD.
Master of Applied Statistics Overview
- Accreditation: Higher Learning Commission
- Tuition: $835/credit (in state); $835/credit (out of state)
- Required Credits: 30 credits
- Program Length: 2 semesters at 15 credits per semester
- Learning Format: Online
- NCES School Graduation Rate: 70%
Master of Applied Statistics Admission Requirements
- GPA: 3.0
- Standardized Tests: GRE or math entrance exam
- Application Fee: $60
- Minimum Education: Bachelor’s degree
- Other Requirements: 3 semesters of calculus, a linear algebra course, at least one undergraduate-level statistics course
Applying to Colorado State University
- Review the admission requirements on the program’s page
- Prepare the required documents
- Complete the online application process by uploading all the documents and selecting your program
- Have your digital transcript sent by your previous institution
Iowa State University | Ames, IA
Iowa State University is a public land-grant research university. It is the state’s largest university and the Big 12’s third-largest. Iowa State University has eight colleges, including the graduate college, that provide over 100 bachelor’s, 112 master’s, and 83 doctoral degree programs.
Master of Business Analytics
The Master of Business Analytics program will provide you with the technical skills in statistics you need to sort through massive amounts of data. It prepares you to work with fraud detection, risk analytics management, process improvement, and more.
Master of Business Analytics Overview
- Accreditation: Northwest Commission on Colleges and Universities
- Tuition: $722/credit (in state); $722/credit (out of state)
- Required Credits: 30 credits
- Program Length: 4 semesters at 6 credits per semester and 2 summer sessions of 3 credits
- Learning Format: Online
- NCES School Graduation Rate: 75%
Master of Business Analytics Admission Requirements
- GPA: No minimum requirement
- Standardized Tests: Not Required
- Application Fee: $60
- Minimum Education: Bachelor’s degree
- Other Requirements: College transcript, statement of purpose, two letters of recommendation, a resume
Applying to Iowa State University
- Make an account on the school’s website
- Choose your program type
- Upload the required documents and fill in all required information
- Pay the application fee and complete the online application
North Carolina State University | Raleigh, NC
North Carolina State University has historically excelled in engineering, statistics, agriculture, biological sciences, textiles, and design. The graduate school offers master’s, doctorate, and DVM degrees.
Master of Statistics
This program appeals to a diverse group of statistics students and professionals. Students will deepen their statistical knowledge and enter the field of applied data science and big data. Or, they will focus on strengthening their understanding of statistical methodologies and analysis used.
Master of Statistics Overview
- Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
- Tuition: $505.28/credit (in state); $1,504.56/credit (out of state)
- Required Credits: 30 credits
- Program Length: 2-4 years at 3-9 credits/semester
- Learning Format: Online
- NCES School Graduation Rate: 84%
Master of Statistics Admission Requirements
- GPA: 3.0
- Standardized Tests: Not required
- Application Fee: $75
- Minimum Education: Bachelor’s degree
- Other Requirements: Academic transcripts, letters of recommendation, prerequisite coursework of calculus and linear algebra
Applying to North Carolina State University
- Review the application deadline
- Prepare your application materials
- Submit your application and pay the fee
- Wait for acceptance
Oklahoma State University | Stillwater, OK
This is the flagship university in the Oklahoma State University System, with tens of thousands of students enrolled and a $1.5 billion budget. The main campus had 24,071 students enrolled in the fall 2019 semester, consisting of 20,024 undergrads and 4,047 grads.
Master of Science in Applied Statistics
Oklahoma State University’s Master of Science in Applied Statistics stresses the practical application of statistical methodology, rather than the mathematical foundations. While not a prerequisite for doctoral studies, this degree qualifies you for a job in both the science industry and academia.
Master of Science in Applied Statistics Overview
- Accreditation: Higher Learning Commission
- Tuition: $350.35/credit (in state); $480.55/credit (out of state)
- Required Credits: 32 credits
- Program Length: 3 semesters at 9 credits/semester & 1 semester and summer of 2-3 credits
- Learning Format: Online
- NCES School Graduation Rate: 64%
Master of Science in Applied Statistics Admission Requirements
- GPA: No minimum requirement
- Standardized Tests: GRE/GMAT
- Application Fee: $50
- Minimum Education: Bachelor’s degree
- Other Requirements: Academic transcripts, letters of recommendation, standardized test scores
Applying to Oklahoma State University
- Create an account on the program’s application page
- Complete the application
- Submit the required documents
- Pay the application fee
Texas A&M University | College Station, TX
Texas A&M has the largest student body in the US. The institution has around 130 degree programs, 17 colleges, and 21 research institutes. Texas A&M is one of six American colleges with a full-time volunteer Cadet Corps studying alongside civilian undergraduates.
Master of Science in Statistics
This master of science program provides extensive training in statistical methods, computational statistics, and statistical theory. The program is flexible enough for students to pursue varied interests.
Master of Science in Statistics Overview
- Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
- Tuition: $1,880/3 credits (in state); $3,400/3 credits (out of state)
- Required Credits: 36 credits
- Program Length: 3-4 years
- Learning Format: Online
- NCES School Graduation Rate: 83%
Master of Science in Statistics Admission Requirements
- GPA: No minimum requirement
- Standardized Tests: Not required
- Application Fee: $65
- Minimum Education: Bachelor’s degree
- Other Requirements: Calculus 1 & 2 as prerequisites, letters of recommendation, personal statement, academic transcript
Applying to Texas A&M University
- Create an account via the TAMU graduate student portal
- Search “online statistics” in the search bar to find your program
- Select the desired program and start date
- Pay the application fee and complete the application submission
University of Houston | Houston, TX
University of Houston, founded in 1927, is the University of Houston System’s flagship institution and Texas’ third-largest university. The university’s 16 academic colleges and schools provide over 358 degree programs, including professional degrees in architecture, law, optometry, medicine, and pharmacy.
Master of Science in Statistics and Data Science
This program teaches online students how to do statistical analysis of data and how to use modern data mining techniques. The program includes real-world data sets and key theoretical topics. The curriculum prepares students for careers in categorical data analysis and statistics.
Master of Science in Statistics and Data Science Overview
- Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
- Tuition: $334-$421.76/credit (in state); $842-$929.76/credit (out of state)
- Required Credits: 30 credits
- Program Length: 2 semesters at 12 credits per semester and a summer session of 6 credit
- Learning Format: Hybrid
- NCES School Graduation Rate: 62%
Master of Science in Statistics and Data Science Admission Requirements
- GPA: 3.0 or higher in the last 60 credits of undergrad coursework
- Standardized Tests: GMAT/GRE
- Application Fee: None
- Minimum Education: Bachelor’s degree
- Other Requirements: 3 letters of recommendation, resume, personal statement, prerequisite courses of linear algebra and calculus 2
Applying to the University of Houston
- Contact the designated graduate advisor for any specific admission requirements for your program
- Prepare all the required documents in electronic form.
- Start filling out information on your graduate admission page and save the ID and password in case you need to add any other documents later
- If approved, you must accept the admission offer in CollegeNet
University of Idaho | Moscow, ID
University of Idaho offers 142 degree programs, from accounting to wildlife resources, including bachelor’s, master’s, doctoral, and specialist degrees.
Master in Statistical Science
In this course, you will learn how to conduct research, conduct experiments, and interpret surveys in the social science field, as well as how to connect social, physical, and biological variables numerically.
Master in Statistical Science Overview
- Accreditation: Northwest Commission on Colleges and Universities
- Tuition: $263/credit (in state)
- Required Credits: 30 credits
- Program Length: 2 semesters at 12 credits per semester and 6 credits for thesis/internship course/consulting option
- Learning Format: Online
- NCES School Graduation Rate: 59%
Master in Statistical Science Admission Requirements
- GPA: 3.0
- Standardized Tests: Not required
- Application Fee: $60
- Minimum Education: Bachelor’s degree
- Other Requirements: Transcripts of your undergraduate studies, three letters of recommendation, resume, letters of reference, statement of career objectives
Applying to the University of Idaho
- Prepare your application form with the required documents
- Pay the application fee
- Meet the application deadline
- Once your application is reviewed by the department, you will be notified
The University of Kansas | Lawrence, KS
The University of Kansas (KU) is an American public research university with a major campus in Lawrence. The university was founded on March 21, 1865, after receiving a charter from the Kansas State Legislature in 1864.
Master of Science in Applied Statistics & Analytics
This master’s program equips online students with the specialized knowledge required for professions in statistics and data analytics. The degree focuses on statistical theory with an emphasis on application, allowing students to make an immediate contribution to their profession.
Master of Science in Applied Statistics & Analytics Overview
- Accreditation: Higher Learning Commission
- Tuition: $700/credit
- Required Credits: 30 credits
- Program Length: 2 semesters at 15 credits per semester
- Learning Format: Online
- NCES School Graduation Rate: 63%
Master of Science in Applied Statistics & Analytics Admission Requirements
- GPA: 3.0
- Standardized Tests: GRE (preferred)
- Application Fee: None
- Minimum Education: Bachelor’s degree
- Other Requirements: Letters of recommendation, B or higher grade in calculus 1 & 2, completion of any computer programming-related course
Applying to the University of Kansas
- Create an account on the school website
- Submit the required documents
- Submit the online application
- Check your application status regularly
University of Kentucky | Lexington, KY
The University of Kentucky is one of the state’s two land-grant colleges and Kentucky’s biggest university, enrollment-wise, with over 30,000 students. It has 16 degree-granting colleges, a graduate school, 93 undergraduate, 99 master’s, 66 doctoral, and four professional science programs.
Master of Applied Statistics
In this program, students develop data analytics and computing skills. You will learn how to compose data visualizations, work with big data, and decipher data patterns. This master of applied science program prepares you to apply statistical studies to a wide range of challenges.
Master of Applied Statistics Overview
- Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
- Tuition: $736.50/credit
- Required Credits: 30 credits
- Program Length: 2 semesters at 15 credits per semester
- Learning Format: Online
- NCES School Graduation Rate: 66%
Master of Applied Statistics degree Admission Requirements
- GPA: No minimum requirement
- Standardized Tests: GRE/GMAT
- Application Fee: $65
- Minimum Education: Bachelor’s degree
- Other Requirements: Calculus 1 & 2, transcript, three letters of recommendation
Applying to the University of Kentucky
- Go to the University of Kentucky graduate school application portal and create an account
- Select your online degree program, complete the application, and pay the fee
- Upload the required documents
- After successful submission of your application, check your status regularly
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What Is an Online Statistics Master’s Degree?
An online statistics master’s degree is commonly a one or two-year program in the field of applied statistics, which covers courses like calculus, linear algebra, ordinary differential equations, statistics, multivariate analysis, and more. This program is designed for graduate students who have earned an undergraduate statistics degree and want to deepen their knowledge with advanced statistics courses.
An online master’s degree is a more convenient option for students who already have a full-time job or other schedule constraints. You can complete your studies just about anytime and anywhere via online programs.
Online vs In-Person Statistics Degrees
Self-motivation is a must for students who pursue online statistics master’s degrees. In contrast to more traditional in-person degree programs, online programs do not provide the same structure and supervision for students.
One of the most crucial things to keep in mind when considering an online Master’s Degree in Statistics is the reputation of the specific school and program, in order to maximize your chances of long-term career success.
If you are a self-motivated student who does not need a classroom setting in order to focus, online programs may be a good option for you. Additionally, online programs are relatively cheaper and offer more flexible options when it comes to course format, scheduling, and learning style.
Top 5 Benefits of an Online Master’s Degree in Statistics
- Setting flexibility. You don’t have to relocate and you don’t have to commute when you pursue a degree online. From the convenience of your own home, you can complete all of your coursework.
- Schedule flexibility. Learning online involves studying on your own schedule. Many degree programs offer recorded lectures that can be viewed anytime and live online lectures that eliminate the time it takes to commute, find a parking spot, and get to class.
- Learning flexibility. Maybe you find it easier to study in the morning before you start your day. Maybe you are more alert after dinner and prefer to work then. Whatever the case, an online program can be tailored to your learning preferences.
- Option to continue working. With more free time available due to the flexibility of the program, you’ll find it much easier to keep working than you would if you had to attend in-person classes and exams.
- Lower costs. Online statistics master’s degrees are usually more affordable than their in-person counterparts. This includes tuition costs, but also money saved that would have been spent on on-campus housing, transportation, and parking.
Top 5 Benefits of an In-Person Master’s Degree in Statistics
- Dedicated learning environment. Focus and attentiveness are essential for academic achievement. An environment devoted to learning is absent of many of the distractions that might exist in your home or other chosen environment.
- Hands-on experience. For students who value active engagement when learning something new, an on-campus degree program may be the better option.
- Career services. Most universities offer a career resources center of some kind, where you can meet with professionals who can help you shape your resume, sharpen your interviewing skills, and secure an internship or job. Though similar online resources are sometimes available, working with an actual person can be helpful in these areas.
- Better networking. An in-person degree program gives you more opportunities for networking with professors and other industry leaders throughout the university.
- Extracurricular options. The campus environment offers more than what your degree program requires. It often provides a whole-life experience. You can join groups and clubs with like-minded people to expand your social and professional networks.
What Types of Online Master’s Degrees Can You Get in Statistics?
The types of online master’s degrees you can get in statistics are a master of science or a master of applied science. There are other options, but these are the two most popular. Both will prepare you for a career in statistics, but there are some differences to consider.
Is It Better to Get a Master of Science or Master of Applied Science in Statistics?
It is better to get a Master of Science in Statistics program when it comes to overall popularity, the number of degrees awarded, and overall job outlook. This degree is designed for students interested in a career in statistics or another quantitative subject that will lead to a PhD program in the same field. There are thesis and non-thesis alternatives.
The Master of Applied Science in Statistics program delivers a more in-depth and comprehensive theoretical understanding of the field with an emphasis on applications of statistical practice and methodology. It equips graduates to play a critical role in statistical modeling and design, as well as to make methodological contributions of their own.
How Much Does a Statistics Master’s Degree Cost?
A statistics master’s degree costs an average of $12,410 at public colleges and $26,597 at private universities, according to data collected by the National Center for Education Statistics (NCES) from 2019 to 2020. Prospective students may find the most affordable master’s degrees online, as many schools offer reduced tuition prices for online students. However, you should keep in mind that the NCES does not collect program-specific data on online tuition and fees, so the cost of your online program may vary from these figures.
How Long Does It Take to Get a Statistics Master’s Degree Online?
It typically takes one to two years to get a statistics master’s degree online. Many online degree programs provide faster, asynchronous, or part-time scheduling options that can make them more feasible for some students. Asynchronous and part-time student online education options make it easier for students to work and attend school at the same time.
For some programs, you can take 15 credits per semester to graduate in one year. Some universities allow you to take just one course per semester or whatever you require to complete the degree. Make sure that your degree program’s scheduling requirements fit your schedule.
Are Online Statistics Degrees Respected?
Yes, online statistics degrees are respected. The popularity of online degree programs is increasing rapidly. Some of the most respected colleges and universities, such as Harvard and Dartmouth, now offer online master’s degree programs.
According to NCES data, there were 14,056,994 students enrolled in degree-granting postsecondary institutions’ distance education courses in the fall of 2020. The change is huge, as the percentage of students taking online courses has increased from 37 percent in 2019 to 74 percent in 2020.
Is Statistics Hard to Learn Online?
No, statistics is not hard to learn online as opposed to on-campus. Even though statistics is a tough subject to learn, it doesn’t involve the use of complex machinery or equipment, which makes it equally feasible for online students as in-person students.
Statistics students can perform their data analysis and calculations using different online simulation and calculation software. So, distance learning in the field of statistics is not only feasible but possibly better in terms of the time and money it saves.
Statistics Bootcamp vs Online Statistics Master’s Degree: Which Is Better?
Online statistics master’s degrees are better if you are looking for long-term advancement in your career. However, statistics or data science bootcamps are great when you need to build your understanding of the basics in a short period of time.
Top 5 Benefits of an Online Statistics Master’s Degree
- Broader, more in-depth education. A Master’s Degree in Statistics online program enables you to research and study a wider range of academic areas, like data analytics, business analytics, statistical science, and online applied data science.
- Peer support. Having interactions with fellow students who are learning the same thing you are is a benefit, whether you need help with a specific assignment or to answer bigger-picture questions.
- More career options. Master’s degrees indicate a level of mastery of the subject that many employers highly value. This will give you access to higher-level positions earlier on in your career.
- Networking opportunities. A degree program, even online, offers more networking opportunities than a bootcamp does. You’ll interact with classmates as well as professors, assistant professors, career counselors, and other university professionals.
- Personalized scheduling. Online degree programs are typically very flexible in their scheduling. Study at night or on the weekends, or whenever works best for you.
Top 5 Benefits of a Statistics Bootcamp
- Shorter duration. Bootcamps typically require a two or three-month commitment, enabling you to advance your skills in a matter of weeks.
- Added certification. A statistics bootcamp can help you gain certification in your field. This enhances your resume and makes you eligible for certain jobs.
- Hands-on learning. The learning methodology used in bootcamps is more hands-on, and it eventually helps you to have a great command over your subject of interest.
- Quick growth. Getting some professional experience while learning new skills is essential for surviving in this fast-paced job market. Taking statistics bootcamps can help you quickly grow in your field with new skills and online certification.
- Valuable experience. Learning new skills and applying them in your practical problem solving gives you valuable experience and great confidence moving forward.
Why You Should Get a Statistics Master’s Degree Online
You should get a master’s degree online if you aspire to grow as a professional in your career and gain access to higher-ranked positions in your company. Moreover, an online Master’s Degree in Statistics does not require you to leave your job and only concentrate your time and energy on your degree.
You can do a part-time online degree, which involves flexible scheduling. Some schools even allow students to take just one course per semester, helping alleviate any stress caused by the course workload.
What Courses Do You Take in an Online Master’s Degree Program in Statistics?
The required courses for an online master’s degree program in statistics differ depending on the institution. But there are a few core and elective courses that are common to all, which are listed below.
Mathematical Statistics
The mathematical statistics course covers the theoretical study of statistical analysis, reasoning, and inference, covering concepts such as sufficiency, multivariate analysis, random variables, and convergence concepts.
Regression Models
Understanding the relationship between independent and dependent variables is taught in this course. Linear, nonlinear, logistic, and curvilinear regression analyses are among the most commonly used regression methods covered.
Data Analysis
This course involves the analysis of data via logistic regression analysis models for binary responses, log-linear models for count data, multicategory logit models for multiple category responses, and other methods.
Data Mining
This course covers the techniques for collecting and evaluating massive amounts of data in order to make financial and marketing forecasting decisions for a business. A variety of subjects are covered, including data visualization, decision trees, and clustering.
Probability
This course covers concepts involving probability fundamentals such as random occurrences, random variables, moments, distributions of random variables’ functions, central limit theorems, and more.
Continuing Education Paths for Online Statistics Master’s Degree Graduates
The education path for Master’s Degree in Statistics graduates might involve pursuing a doctoral degree in statistics or analytics. In the PhD program, you might decide to specialize in a popular field such as data mining or statistical design.
Related Online Statistics Degrees
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What to Look For in the Best Statistics Master’s Degree Programs
The things to look for in the best online statistics master’s degree programs are the employment outcome, accreditation, flexibility of the format, specialization options, and cost of the program. Consider each of these factors when selecting your school and program.
Employment Outcome
The employment rate of the program is one of the most important factors to consider when choosing an on-campus or online Master’s Degree in Statistics program. Knowing how other graduates fared in the job market will give you insight into what you can expect after you graduate.
Accreditation
Choosing a regionally or nationally accredited program is essential. To be eligible for federal financial aid, you must be enrolled in a program that has been approved by the Department of Education.
Flexibility of the Program Format
When you are considering an online Master’s Degree in Statistics program, it is important to consider the program’s flexibility and format. Confirm whether the program is entirely online or a hybrid format consisting of online and on-campus courses
Concentration Options
At the level of a master’s degree, you go in with basic knowledge about your field and what you want to study. If a concentration, like statistical science, is essential to you, be sure that your program offers it as an option.
Cost
Comparing costs enables you to determine the optimal return on your investment. Not all pricey online statistics master’s degrees will meet your educational and professional goals. Similarly, not all inexpensive degrees are of low quality.
What Is the Most Affordable Online Statistics Master’s Degree?
The most affordable online statistics master’s degree is the Master of Science in Statistics and Data Science degree from University of Houston. At about $334 per credit hour, with 30 hours required, this degree will cost about $10,020.
Can I Get a Statistics Master’s Degree Online for Free?
No, you cannot get a statistics master’s degree online for free. However, you can always choose a school that offers student scholarships and federal financial aid. Another option is to prepare in advance for a degree using free resources like OCW.
Salary and Job Outlook for Online Statistics Master’s Degree Graduates
The US Bureau of Labor Statistics (the BLS) projects that statistician positions will rise at a rate of 33 percent through 2030. This means that businesses in various industries throughout the country will require an additional 15,000 statisticians proficient in applied data science fields to help them make vital business decisions. Statistician salaries range from about $50,000 to $150,000, according to the BLS, with a median annual average of $92,270. Statisticians earn an average hourly wage of $46.72.
How Hard Is It to Get a Job With a Statistics Master’s Degree?
It is not very hard to get a job with a statistics master’s degree. Today’s commerce and other industries are powered by statistics, making professionals in this field highly in demand. According to the US Bureau of Labor Statistics (BLS), 14 percent of statisticians worked as researchers in 2020, 12 percent worked for the national government, nine percent worked in healthcare, and eight percent worked for insurance companies. Statisticians rank 14th on BLS’ list of the 20 fastest-growing occupations.
What’s the Average Online Statistics Master’s Degree Salary?
The average salary for someone with a statistics master’s degree is $89,000, according to PayScale. A statistician with a master’s degree typically earns about $60,000 to $100,000 per year.
What Jobs Can You Get With an Online Statistics Master’s Degree?
The jobs you can get with an online Master’s Degree in Statistics include statistician, economist, financial advisor, actuary, survey researcher, and other data analytics professions. The fastest-growing occupations in the next few decades are expected to be in the fields of science, technology, engineering, and mathematics (STEM).
Statisticians can work in a variety of disciplines including healthcare, machine learning, finance, product development, and economics and marketing. A wide range of businesses are in need of statistics experts, who are proficient at evaluating datasets, tracking trends, and constructing statistical models, as well as producing visuals in the form of graphs and charts, in order to make sense of the data. The work of a statistician also includes hands-on data gathering, analysis, and review in order to establish the best statistical approaches and processes for a project.
Statistics Degree Jobs
- Economists
- Survey Researchers
- Personal Financial Advisors
- Actuaries
- Statistician
Potential Careers With an Online Statistics Degree
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How Much Money Can You Make With an Online Statistics Master’s Degree?
You can make about $100,000 per year with an online statistics master’s degree, according to the US Bureau of Labor Statistics (BLS). The median salary is $92,270 for a master’s degree holder in statistics. Below is a list of some of the highest-paying jobs for a statistics master’s degree holder, along with their median annual salaries. The data comes from the BLS.
Highest-Paying Online Statistics Master’s Degree Jobs and Salaries: Overview
| Statistics Master’s Degree Jobs | Average Salary |
|---|---|
| Actuaries | $105,900 per year |
| Economists | $105,630 per year |
| Statisticians | $96,280 per year |
| Personal Financial Advisors | $94,170 per year |
| Survey Researchers | $59,740 per year |
Best Jobs for Online Statistics Master’s Degree Grads
The best jobs for online statistics master’s degree grads are economists, survey researchers, personal financial advisors, actuaries, and statisticians. Graduates with an online Master’s Degree in Statistics are in demand and have career pathways related to the growing fields of data analytics and science.
Best Jobs According to Your Major
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Is an Online Statistics Master’s Degree Worth It?
Yes, an online Master’s Degree in Statistics is worth it. According to PayScale, those with a Master of Science in Statistics degree earn an average of $89,000 per year. This is $16,000 more than what a Bachelor of Science in Statistics degree holder earns. Employers value a master’s degree holder’s advanced knowledge and analytical and technical skills.
The best companies for statisticians recognize the commitment and perseverance required to complete an advanced degree. A person who is willing to commit time and money to earn a Master’s Degree in Statistics is likely to be invested in their career.
Additional Reading About Statistics
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Online Statistics Master’s Degree FAQ
Yes, there is a great demand for statisticians. Statistics professionals are in high demand in business and government jobs. Mathematics and statistics jobs are expected to grow by 33 percent by 2030, according to the US Bureau of Labor Statistics.
No, a Bachelor’s Degree in Statistics is not required to get a Master’s Degree in Statistics. While a bachelor’s degree is required before you’re eligible to pursue a Master’s Degree in Statistics, it doesn’t need to be in statistics.
“MS in Statistics” refers to a Master of Science in Statistics. The master of science is the most common master’s degree throughout the world.
Statisticians solve problems using data analysis and calculation. Government and scientific research and development firms employ statisticians.
The post Best Online Statistics Master’s Degree Programs, Jobs, and Salaries appeared first on Career Karma.
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Sana Uqaili
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