What Can You Do With A Statistics Degree

Alyssa Omandac

What Can You Do With A
Statistics Degree

A Statistics Degree prepares you for jobs that require a detailed analysis of information. Statistics is a branch of Mathematics that focuses on collecting, organizing, and analyzing data.

With a Statistics Degree, you learn how to use mathematical techniques to evaluate information. Statistics programs are often full of math classes covering topics such as probability theory, statistical modeling, and differential calculus. Students first learn how to use statistical methods for analyzing data before exploring more advanced topics.

After graduating with a Statistics Degree, graduates tend to find entry-level work as Research Assistants and Statisticians. The biggest employers are government agencies. Seeking a career in this field often requires an advanced degree with specialized training that combines Statistics with another discipline. This may include training for becoming a Financial Analyst, Econometrician, or Data Analyst.

Statistics Degree

Typical employers for Statistics graduates

Government Agencies
Financial Institutions
Insurance Firms
Pharmaceutical Companies

Universities and Colleges
Nonprofit Organizations

10 Career Options

  1. Statistical Research Assistant
  2. What they do

    Statistical Research Assistants may work under Statisticians, Actuaries, and other professionals involved in statistical analysis. Assistants often perform research and administrative tasks to support the duties of senior staff members.

    As a Statistical Research Assistant, you may need to collect data from various sources, organize the data for analysis, and perform initial research. This job also often requires the summarization of findings and the creation of reports. Find out more about what is it like working as a Statistical Research Assistant.

    How to become one

    Many employers prefer to hire candidates with a Bachelor’s Degree in Mathematics or Statistics. However, an Associate’s Degree may suffice for some employers. This is also a common job for Statistics graduates seeking work experience before moving on to other jobs.

    If you seek employment with a state agency, you may also need to pass a statistical assistant certification exam.

    How much they make


  3. Statistician
  4. What they do

    Statisticians organize and analyze data using specialized statistical analysis software. They are often responsible for detecting trends and relationships within sets of data.

    Statisticians spend time collecting numerical data and analyzing it to solve real-world issues. They frequently work in the medical and healthcare industries but may also find employment in finance, government, and private business. Find out more about what is it like working as a Statistician

    How to become one

    Entry-level Statistician positions, such as Junior Statistician, often require a Bachelor’s Degree in Statistics. Other suitable majors include Mathematics, Computer Science, or Economics with coursework in linear algebra, survey methods, and calculus.

    Advancing in this field typically requires a Master’s Degree. When obtaining a Master’s Degree, Statisticians often choose a specialization related to their industry. For example, you may obtain a Master’s Degree in Biostatistics, Econometrics, or Actuarial Science.

    How much they make


  5. Financial Analyst
  6. What they do

    Financial Analysts offer guidance to individuals and businesses to help them make better investment decisions. They may assess the performance of stocks, bonds, and other investment products. This job involves evaluating current and historical financial data, economic trends, and financial statements.

    Along with offering investment advice, Financial Analysts evaluate the risk of various ventures, such as a company’s plan to expand into new markets or establish a new location. Find out more about what is it like working as a Financial Analyst.

    How to become one

    Financial Analysts often require a Bachelor’s Degree. Suitable fields of study include Accounting, Finance, Statistics, Economics, and Mathematics.

    If your job role involves the sale of financial products, you will likely need a license from the Financial Industry Regulatory Authority (FINRA). Certification is also recommended. There are several professional associations that offer financial certifications, including the Chartered Financial Analyst (CFA) certification from the CFA Institute.

    How much they make


  7. Investment Analyst
  8. What they do

    Investment Analysts evaluate financial and investment information to help clients or employers determine the risk of various investment opportunities. Investment Analysts must collect information, conduct research, and analyze assets. They then compile their findings and supply the information to Investment Managers or Portfolio Managers.

    How to become one

    Investment Analysts tend to need a Bachelor’s Degree for entry-level positions. The most common degrees include Finance and Business. However, degrees in Statistics, Accounting, and Economics may also be accepted by employers.

    Investment Analysts who want to progress to senior roles may need a Master’s of Business Administration (MBA) Degree in Mathematics, Statistics, or Finance. You may also require several years of experience as a low-level analyst before becoming a full-time Investment Analyst.

    How much they make


  9. Actuary
  10. What they do

    An Actuary uses statistics, mathematics, and financial theory to analyze financial risk. They are typically employed by insurance companies and private businesses.

    The main role of the Actuary is to help businesses and clients develop processes or policies that minimize the risk of financial losses. Job duties include compiling statistical data and estimating the economic cost of specific events, such as a natural disaster or accident. Find out more about what is it like working as a Actuary.

    How to become one

    Actuaries typically need a Bachelor’s Degree in Statistics, Mathematics, Actuarial Science, or other analytical fields of study. Courses should include Corporate Finance, Statistics, and Economics. Due to the job duties of an Actuary, many Actuaries take courses in Computer Science to learn how to use databases and statistical analysis tools.

    Voluntary certifications are also available. Actuaries who work in the insurance industry can obtain certification through the Society of Actuaries (SOA). The Casualty Actuarial Society (CAS) offers certification for those who work in the property and casualty field.

    How much they make


  11. Market Research Analyst
  12. What they do

    Market Research Analysts study current market conditions to help businesses or clients explore the potential sales of a product or service. They analyze marketing and sales trends and measure the effectiveness of marketing campaigns.

    Market Research Analysts may also gather data on consumers and competitors and frequently rely on statistical software to complete their research. Find out more about what is it like working as a Market Research Analyst.

    How to become one

    Most employers prefer to hire Market Research Analysts with at least a Bachelor’s Degree in Market Research, Statistics, Mathematics, or Computer Science. However, some enter this field with degrees in Communications, Social Sciences, or Business Administration.

    Some Market Research Analysts positions may require a Master’s Degree. As with the Bachelor’s Degree, you can choose from a variety of fields, including Market Research or Statistics.

    The Market Research Association offers professional certification for Market Research Analysts. The certification is voluntary but demonstrates your professional expertise.

    How much they make


  13. Econometrician
  14. What they do

    An Econometrician uses statistics to help predict economic outcomes. They rely on statistical analysis and quantitative measures to study economic trends and make predictions.

    Job tasks for Econometricians include gathering and analyzing data sets, using statistical analysis software, and summarizing the results of their research. They are often employed by financial firms and government agencies.

    How to become one

    The typical requirement for becoming an Econometrician is a Master’s Degree in Economics, Mathematics, or Statistics with a specialization in Econometrics. However, a Bachelor’s Degree may qualify you for entry-level positions, such as a Statistical Assistant.

    How much they make


  15. Business Analyst
  16. What they do

    Business Analysts analyze business processes or systems to produce better results. Private businesses often employ Business Analysts to improve productivity, reduce costs, or help solve problems related to business processes.

    Common job duties include collecting and analyzing data from a variety of sources and providing summaries of their findings to employers or clients. Business Analysts may work for Consultancy Firms or individual companies. Find out more about what is it like working as an Business Analyst.

    How to become one

    The minimum educational requirement for Business Analysts is a Bachelor’s Degree. Some colleges and universities offer a Bachelor of Science in Data Analytics Degree. Related fields of study include Statistics, Mathematics, and Business Administration.

    Earning a Master’s Degree increases your career opportunities in this field. Suitable options include Master’s Degrees in Business Data Analytics, Operations Research, Predictive Analytics, and Project Management.

    How much they make


  17. Operations Research Analyst
  18. What they do

    Operations Research Analysts help identify and solve problems to help organizations improve the effectiveness of their policies or standard procedures. This job involves the collection and organization of data from a variety of sources including sales histories, computer databases, and customer feedback.

    Operations Research Analyst job duties include using statistical analysis, predictive modeling, and simulations to evaluate problems and find solutions. They may also write reports to summarize their findings and make the information more digestible. Find out more about what is it like working as an Operations Research Analyst.

    How to become one

    Entry-level Operations Research Analyst positions often require at least a Bachelor’s Degree. Some universities offer Operations Research programs. However, many individuals enter this field with degrees in Engineering, Computer Science, Mathematics, or Statistics.

    A Master’s Degree can increase your career prospects and is often needed for advancement in this field. Master’s Degrees may focus on Data Analysis, Marketing, or Business Administration.

    How much they make


  19. Survey Researcher
  20. What they do

    Survey Researchers are responsible for designing and analyzing surveys. The type of survey depends on the employer. For example, a Survey Researcher may design consumer surveys to learn more about the needs and interests of consumers.

    Common job duties for Survey Researchers include conducting background research, planning surveys, coordinating the work of interviewers and data collectors, and summarizing the results of the surveys. Find out more about what is it like working as a Survey Researcher.

    How to become one

    A Bachelor’s Degree in Statistics may suffice for entry-level positions. However, Survey Researchers often need a Master’s Degree or a Ph.D. Suitable fields of study include Survey Research, Statistics, and Social Sciences.

    As with many other professional fields, Survey Researchers can obtain a voluntary certification to demonstrate their skills and knowledge. The Professional Researcher Certification is available through the Insights Association.

    How much they make