MSc in Statistics Admission

M.Sc in Statistics is a two-year postgraduate course that involves collecting and analyzing data, henceforth using the outcomes of analysis to drive business decisions. An M.Sc in Statistics is a postgraduate degree in Statistics that is the study of data gathering, management, and interpretation of data, to be short. M.Sc in Statistics deals with every area, including the planning of data collecting in terms of survey and experiment design.

The completion of a BSc in Mathematics/Statistics or graduation from an accredited university with a degree in a relevant field is the minimum requirement for entrance to M.Sc in Statistics. The majority of M.Sc in Statistics students are admitted through entrance exams held by the relevant colleges. However, there are also some colleges that admit candidates on the basis of merit. The average course fee to enrol for M.Sc in Statistics ranges from INR 3,000 to INR 4,00,000. Some universities also offer courses through distance learning. Students who are eager to develop solutions to challenging problems using Mathematics and Statistics must opt for this program. The M.Sc in Statistics is available as both a full-time program and a part-time program.

M.Sc in Statistics graduates can opt for some high-paid job profiles such as Investment Analyst, Business Analyst, Risk Analyst, Statistician, Data Analyst, etc. To know more about the M.Sc in Statistics course such as top entrance exams, top colleges, syllabus, salary package, top recruiters, etc., candidates can continue reading further. 

Why Study M.Sc in Statistics?

One of the primary reasons to study M.Sc in Statistics is the abundance of career opportunities it offers. With a degree in statistics, individuals can find employment in a wide range of industries, including finance, healthcare, technology, and government. Statisticians are in high demand as organizations increasingly rely on data to make informed decisions and drive strategic initiatives.

Moreover, studying M.Sc in Statistics equips individuals with a strong foundation in statistical methods and techniques. Students learn how to collect, analyze, and interpret data using various statistical software tools. This skill set enables them to make meaningful and accurate conclusions based on the data at hand.

Another significant advantage of pursuing an MSc in Statistics is the opportunity to develop critical thinking and problem-solving skills. Statisticians are trained to identify patterns and trends in data, as well as to design experiments and surveys to gather relevant information. These skills are not only valuable in a professional context but also in everyday life, where the ability to analyze data can help make informed decisions.

Lastly, obtaining an MSc in Statistics can lead to substantial financial rewards. Statistics is consistently ranked among the highest-paying fields, with statisticians earning competitive salaries. The demand for skilled statisticians is projected to continue growing, ensuring a stable and lucrative career path for those with an MSc in Statistics.

What is the Eligibility Criteria for Admission to M.Sc in Statistics?

MSc in Statistics admission varies from college to college. In various colleges and Universities, they conduct entrance exams for the admission of the students.

Completion of BSc Honors in Statistics or Mathematics or Mathematics with Computer Applications along with Statistics as one of the papers or graduation in a related discipline from a recognized institute.

The minimum aggregate score of 60% at the level of graduation is required for admission into this program.

Top Entrance Exams for Admission to M.Sc in Statistics

1. CUET PG
2. BITSAT
3. NEST
4. IIT JAM
5. DUET 
6. TISS NET

How to Prepare for M.Sc in Statistics Entrance Exams?

The syllabus for M.Sc in Statistics entrance exams will vary from Institute to institute. However, most exams concentrate on areas of mathematical statistics topic-oriented knowledge and skills.

Some points that are useful while preparing for M.Sc in Statistics entrance exams are:

The students are shortlisted on the basis of their academic records, written exam, and the personal interview. The exam paper is divided into 2 parts such as Objective Type and Descriptive Type.

Students should know the entire syllabus of the entrance exam that they are going to give because some of these exams are purely based on neuroscience knowledge and some exams may be general and have few sections of biology and core sciences-related questions.

Students should consider buying study material or previous year question papers and practice them for M.Sc in Statistics entrance exams so that they prepare well for the same. BSc Statistics course books also constitute a good study material for these exams.

M.Sc in Statistics Course Syllabus

M.Sc in Statistics 1st Semester Syllabus

• Distribution Theory 
• Distribution Theory (Practical)
• Measure Theory and Probability
• Matrix Algebra and Numerical Analysis (Practical)
• Computer Programming (Practical)
• Ancillary Mathematics

M.Sc in Statistics 2nd Semester Syllabus

• Inference I
• Inference I (Practical)
• Linear Models and Regression Analysis
• Linear Models and Regression Analysis (Practical)
• Sample Surveys
• Sample Surveys (Practical)

M.Sc in Statistics 3rd Semester Syllabus

• Inference II
• Design of Experiments
• Time Series Analysis
• Inference II (Practical)
• Design of Experiments (Practical)
• Time Series Analysis (Practical)

M.Sc in Statistics 4th Semester Syllabus

• Multivariate Analysis
• Econometrics and Economic Statistics
• Environmental Statistics

Job Options Available for M.Sc in Statistics Candidates

In this digitalized world, data plays a very important role and Statistics is the key to learning from data and navigating common problems that can lead you to incorrect conclusions.

Statistics-related work placements are available across both government and private departments.

Candidates can also develop their skills in statistics through work placements and internships, in sectors such as market research, financial services, operational research, banking sectors, etc.

Aspirants in the field of Statistics can find job openings in Indian Statistical Services, Insurance industries, Agricultural research, Banks, Demographic Studies, Indian Economic Services, Statistical and Economic Bureaus, Planning Commission, Civil Services and Research, etc.

• Statistician
• Investment Analyst
• Service Estimator
• Cost Estimator

Future Scopes and Further Studies Options After M.Sc in Statistics?

Candidates can choose an MPhil and a PhD in Statistics as their higher studies if they want to study further.

If M.Sc in Statistics graduates prefer research experience, then they can apply for the Senior Research Fellow post available in this institute.

This imparts the importance of the role of approximation and mathematical approaches to analyze real problems.

One can go for teaching positions in leading schools and universities as a Junior Faculty, professor, or as a Research Associate.

Thus, there are a lot of opportunities open for students after they complete this course.  Some of the major profiles are Statistician, Investment Analyst, Arithmetician, Cost Estimator, Online Tutor, Service Estimator, Subject Matter Expert, Assistant Professor, Statistical Investigator, etc.