M.Stat. (Master Of Statistics) Admissions, Colleges, Syllabus, Books, Jobs and Scope 2023

Master of Statistics or M.Stat. is a two-year program that offers advanced-level training in the theory, methods and applications of Statistics along with specialized training in selected areas of Statistics and allied fields.

On successful completion of this program, students are able to pursue an academic/research career in Statistics, Mathematics, Economics, Computer Science and allied fields, depending on their chosen area of specialization. They will also be able to work competently as Statisticians and specialists in research institutions and scientific laboratories, government departments or industries.

The basic eligibility to pursue M.Stat. course is that the students should have completed their graduation in a relevant field from a recognized college. Candidates should have a minimum aggregate of 55% or its equivalent CGPA.

Selection for admission to this program is based on performance in written admission tests and subsequent interviews. Few colleges also conduct the admission process through marks obtained by the candidates in their qualifying examinations.

Candidates can pursue M.Stat. as a full-time course. A few top colleges that offer Master of Statistics courses are ISI Bangalore, ISI Delhi, Dr. B.R. Ambedkar University, ISI Kolkata, ISI Chennai, etc. The average annual tuition fee to study a full-time Master of Statistics program is around INR 50,000- 90,000 depending on the college. Career options are huge in the industry sector after M.Stat. degree. Graduates can pursue other jobs in the private sector and work as a Professor, Lecturer, Researcher, Expertise in Research (Statistician), Photo Statistician, Senior Statistician, Arithmetician, Subject Matter Expert (Statistics), Statistical Investigator, etc. The average starting salary ranges from INR 4-20 Lakhs per annum.

The M.Stat. degree holders have excellent career opportunities in both Public and Private Sectors, Colleges & Universities and also have scope in Financial Analysis, Medical Research, Biotechnology, Weather and Commodity, Forecasting, etc.

M.Stat. Scope

M.Stat Scope

M.Stat. Course Highlights

Course Level Post Graduate
Full form Master of Statistics
Duration 2 years
Examination type Semester
Eligibility Graduate from a recognized university with statistics/ mathematics as a subject
Admission process Entrance exam based and merit based
Course fee INR 50,000/- to INR 90,000/-
Average Salary INR 4 – 15 LPA
Top Recruiting Companies Goldman Sachs, JP Morgan Chase & Co., Microsoft, Oyo, Flipkart, Myntra, LinkedIn, Morgan Stanley
Job Positions Data Analyst, Data Scientist, Quantitative Analyst, Risk Analyst, Senior Associate

M.Stat.: What is it About?

Check the mentioned below points to know more about Master of Statistics course details:

  • Master of Statistics is popularly known as M.Stat. It is a postgraduate course. This program is a professional degree and it prepares individuals to serve in collecting and interpreting statistics
  • The course duration is two years divided into four semesters. It can be pursued full-time.
  • The M.Stat. course offers advanced level training in the theory, methods and applications of Statistics along with specialized training in selected areas of Statistics and allied fields.
  • Depending on the area of specialization, students would be able to pursue an academic/research career in Statistics, Mathematics, Economics, Computer Science and allied fields. They would be able to work competently as Statisticians and specialists in research institutions and scientific laboratories, government departments or industries.

Why Study M.Stat.?

Candidates can choose Master of Statistics due to it following advantages:

  • A career in M.Stat. offers great job opportunities in India and also abroad. The statisticians and their analytic skills are highly demanded in today’s job market.
  • Candidates can use statistics in various fields such as business, industry, agriculture, government, private, computer science, scientific, health sciences & other disciplines
  • After completing their study in statistics, candidates can also apply for the Civil Services, Indian Statistical Services & Indian Economic Services exams
  • Candidates who complete their degree, one can opt for finance, analytics, software development, actuarial science & many more options

M.Stat. Admission Process

Admission to the M.Stat. courses is either through the merit of the qualifying examination or through an entrance test conducted by the respective colleges.

  • Merit based admission

Universities like Dr. B.R. Ambedkar and Amity, Lucknow provide admission on the basis of merit of the qualifying examinations.

Here are steps for merit based admission:

  1. Candidates can either apply to the college online or offline by downloading the application form from the college website
  2. On filling up the application form, the candidates can pay the application fee either online or through Demand Draft as per the guidelines
  3. Post submitting the application form, the college declares the cut off list on the basis of marks obtained by the candidates in their graduation through which candidates are shortlisted
  4. Upon getting shortlisted, few colleges take group discussions and personal interviews on the basis of which, the final selection is made
  5. Such candidates are asked to report at the institution for completing the admission process.
  • Entrance Based admission

Colleges like Indian Statistical Institute, New Delhi, Indian Statistical Institute, Kolkata and Indian Statistical Institute, Bangalore conduct their own entrance exams for selecting the candidates.

The written admission test is designed to assess competence in the theory and methods of Statistics and comprehension in Mathematics, and has two parts:

  • multiple-choice questions in Statistics and Mathematics at the under-graduate level in the first part, and
  • Short-answer questions in Statistics and Mathematics at the under-graduate level in the second part.

Candidates are shortlisted based on their marks in the entrance test and further selection is based on group discussions and personal interview.

Admission Process

M.Stat. Eligibility

The M.Stat.course eligibility remains university or college-specific and is prescribed through an admission notice. However, in almost all educational institutions, the educational qualification for Master of Statistics remains the same.

  • Applicant must have a three-year Bachelor’s degree or a BE/B Tech degree with Statistics/ Mathematics as a subject or
  • a Post-Graduate Diploma in Statistical Methods and Analytics

How to prepare for M.Stat. Entrance Exams

  • M. Stat. entrance exams usually consists of sections like Maths and Statistics
  • For scoring in Maths, candidates can practice from Class 11th and 12th level Maths focusing on Algebra and Calculus. Books like R.D. Sharma and R.S. Aggarwal can be referred.
  • Candidates should solve previous years’ papers to get a knack of paper pattern
  • Candidates while solving previous years’ papers solve them in a timed manner so that they get a practice to solve it in time
  • Candidates should read the instructions carefully before starting the paper. Candidates should know whether negative marking is there or not since there are times when such instructions change with every year.
  • Sometimes candidates are given a choice to attempt a certain number of questions therefore having a look at the instructions is very vital.

How to get Admission in Top M.Stat. College?

Keep the following things in mind to get an admission in a good M.Stat. college:

  • Few colleges take admission on the basis of marks obtained in the graduation, hence candidates should perform exceptionally well during their graduation so that it becomes easier to clear the cut off list
  • For colleges that take entrance tests, candidates should prepare thoroughly to clear the cut of marks
  • Be updated with the deadlines of filling the application forms through websites, newspapers and magazines
  • Practice previous years papers to improve your time management skills at the time of entrance exams

M.Stat. Top Colleges

Some of the top Master of Statistics colleges in India are described in the table below:

College Name City Admission Process Annual Fees
Dr. B.R. Ambedkar University Agra Merit basis + Interview INR 10,000/-
Indian Statistical Institute New Delhi Institute Entrance Exam + Interview INR 20,000/-
Indian Statistical Institute Kolkata Institute Entrance Exam + Interview INR 50,000/-
Indian Statistical Institute Bangalore Institute Entrance Exam + Interview INR 60,000/-
Amity University Lucknow Merit + Interview INR 86,100/-
Indian Statistical Institute Chennai Institute Entrance Exam + Interview INR 55,000/- 
Indian Statistical Institute Hyderabad Institute Entrance Exam + Interview INR 60,000/-
Indian Statistical Institute Pune Institute Entrance Exam + Interview INR 55,000/- 

M.Stat. College Comparison

The table below lays out a comparison between the top 2 colleges offering M.Stat. program.

Parameters  Dr. B.R. Ambedkar University Indian Statistical Institute
Location  Agra  New Delhi
Overview  It is affiliated with Sarojini Naidu Medical College, approved by AICTE and accredited by NAAC. More than 200 Colleges are affiliated to DBRAU and 15 residential Institutes are spread out in its residential campuses. It is an institute of worldwide repute offering postgraduate and doctoral programs under different specializations. ISI also claims to give 100% placements to its students.
Ownership  State University Autonomous 
Types of programs offered UG, PG, and M.Phil/ Ph.D. PG and Doctoral
Admission Process Merit based followed by an interview Entrance based
Average Fees INR 20,000 INR 40,000
Average Placement Package  INR 7 lakhs INR 12 lakhs
Recruiting Companies Genpact, HDFC Bank, HCL Technologies, Kotak Mahindra Bank, ICICI Bank, Axis Bank, Jio, Swiggy, Teleperformance KPMG, HDFC Bank, Accenture, Cognizant, RBS, Reliance, Deloitte, ICICI Bank, Idea, Goldman Sachs, Mercados, DE Shaw & Co, etc.

M.Stat college Comparison: Average fees & Placement Package

Source: College Websites

M.Stat. Syllabus

A detailed Master in Statistics syllabus is mentioned below:

Semester I
Linear Models and Markov Chain Sample Surveys and Design of Experiments
Large Sample Statistical Methods Large Sample Statistical Methods
Real Analysis Applied Stochastic Processes
Measure Theoretic Probability Statistical Inference I
Semester II
Regression Techniques Metric Topology and Complex Analysis
Multivariate Analysis Elective Course I
Programming and Data Structures Elective Course II
Semester III
Analysis II Elective I
Statistical Computing Elective II
Time Series Analysis -
Semester IV
Probability and Stochastic Processes III Elective IV
Project Elective V
Elective III -

M.Stat. Important Books

Important books for M.Stat. course are:

Book Author
Statistics Freedman, Pisani & Purves
Modern Applied Statistics  Venables & Ripley
Probability and Statistics for Engineering and the Sciences Devore
The Elements of Statistical Learning: Data Mining, Inference, and Prediction Hastie, Tibshirani & Friedman
Bayesian Data Analysis Gelman, Carlin
Probability and Statistics (4th Edition) Morris H. DeGroot, Mark J. Schervish
All of Statistics: A Concise Course in Statistical Inference Larry Wasserman

M.Stat. Course Comparison

M.Stat. Vs MBA

M.Stat. is Masters of Statistics and MBA is Masters of Business Administration. Both these courses have their own specializations and subjects. Below are the major points of difference in them:

Parameters M.Stat. MBA
Full Form Masters in Statistics Master of Business Administration
Domain Mathematics Business Administration
Objective The course is essentially about collecting and interpreting statistics It is more focused on developing business and technical knowledge among students
Examination type Semester Semester/Trimester
Admission process Merit or Entrance exam Entrance Exam
Job Opportunities Statisticians, Business Analyst, Mathematician, Professor, Risk Analyst, Data Analyst, Statistic Trainer, Data Scientist Marketing manager, Financial manager, Human resources manager, Nonprofit director, Operations manager
Average Annual Fees INR 50,000/- to 90,000/- INR 20,000/- to INR 30,00,000/-
Average Placement Package INR 4 to 20 LPA INR 15 LPA

M.Stat Vs MBA: Average Fees & Placement Package

M.Stat. Career Prospects

A career in Statistics is becoming popular in India. Statistician jobs can be found in government and semi-government institutes; in the public and private sectors; and in factories. Statistics jobs can include teaching in research institutions and establishments dedicated to higher education. Clearly, a statistics career has excellent potential.

Some of the job options are mentioned below:

Job Position Job Description Average Annual Salary
Statistician A statistician collects all numerical data and then displays the results with the organization for analyzing and predicting future demand. Statisticians use all statistical tools and methods to collect and analyze the data and solve real-time problems in business, engineering, the sciences, or other fields INR 4,05,000/-
Business Analyst A business analyst is the one who analyses the organization’s processes and systems, assesses the business model and integrates with technology. Analyzing the business needs to assess the client, is the main responsibility of a business analyst INR 5,25,884/-
Mathematician Help organizations by applying mathematical theories and techniques to solve practical problems. Collect data, analyze this data and present their findings with the aim of solving practical problems in business, government, engineering and science INR 4,50,000/-
Data Analyst Interpret data and turns it into information which can offer ways to improve a business, thus affecting business decisions INR 4,00,000/-
Risk Analyst Examine a firm's investment portfolios, including overseas investments, and analyze the risk involved in associated decisions INR 5,12,950/-
Biostatistician Analyze data and statistics on living things collected during medical research studies to draw conclusions or make predictions. Contribute to the design and execution of research studies in collaboration with other statisticians and scientists. INR 4,00,000/-
Econometrician They use statistics and mathematics to study, model, and predict economic principles and outcomes. Use statistical and other quantitative measures and mathematical formulas to produce objective results in the study of economics. INR 6,00,000/-
M.Stat Salary Trends

Scope: Payscale

M.Stat. Future Scope

After pursuing a Master of Statistics, candidates can go for further education in Master of Philosophy in Statistics and Ph.D in Statistics.

Master of Philosophy in Statistics: In this course, both the theoretical and applied features of statistics are taught. The work of a statistician is to collect, interpret and verify data. In every field statisticians are required, right from Government offices to sporting international events. M.Phil. is a combination of course work and research training. It also helps in extending competence of the candidates in their chosen discipline.

Ph.D. in Statistics: Ph.D. is a research-based program in Statistics. The course consists of four areas of specialization, viz. Biostatistics, Mathematical/Probability Statistics, Statistical Modeling, and Actuarial Science/Financial Mathematics. A compulsory thesis needs to be submitted by students of the course upon completion of 24 months of study of the subject.

M.Stat. FAQs

Ques. What is the course duration of M.Stat.?

Ans. The Masters of Statistics has a course duration of two years which is further divided into four semesters.

Ques. Are there any Master of Statistics entrance exams conducted in India?

Ans. Yes, Indian Statistical Institute conducts its own entrance exam – ISI Admission Test.

Ques. What is the educational qualification required for admission to the Master of Statistics course?

Ans. Applicants must have a three-year Bachelor’s degree or a BE/B Tech degree with Statistics/ Mathematics as a subject or a Post-Graduate Diploma in Statistical Methods and Analytics to take admission in a M.Stat. course.

Ques. What jobs can I get with a degree in M.Stat.?

Ans. There are several job opportunities after completing a Master of Statistics. Some of the job roles include Data Analyst, Data Scientist, Quantitative Analyst, Risk Analyst, Senior Associate, Risk Analyst, Content Analyst.

Ques. What is the admission procedure for a Master of Statistics?

Ans. Few colleges admit the candidates on the basis of merit whereas few colleges conduct their own entrance tests. Candidates should check the college website to learn about a particular college’s admission process.

Ques. What is the scope of a Master of Statistics?

Ans. After pursuing M.Stat. course candidates can go for further education in Master of Philosophy in Statistics and Ph.D. in Statistics.

Ques. What are some top Master of Statistics colleges in India?

Ans. Some of the top M.Stat. colleges in India are Dr. B.R. Ambedkar University, Indian Statistical Institute Kolkata, Indian Statistical Institute Delhi, Indian Statistical Institute Hyderabad, Indian Statistical Institute Pune, Indian Statistical Institute Chennai.

Ques. What is the average fee for the course Master of Statistics?

Ans. The fee ranges from INR 50,000- 90,000 depending on the college.

Master of Statistics [M.Stat.] : 9 answered questions

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Ques. Which is better M.Sc. Statistics from Mumbai University or NMIMS?

● Top Answer By Tezal Dahiya on 03 Jul 23

Ans. NMIMS is a better option than Mumbai University for MSc Statistics because of these simple reasons NMIMS has much better infrastructure than Mumbai University and offers better facilities and campus life. Better recruiters visit NMIMS and the placement scenario is much better than Mumbai University.  The processors at NMIMS are very approachable and helpful in contrast to MU The teaching staff is better than Mumbai University and they are quite cooperative with students as compared to MU professors that despite being learned refuse to help students. NMIMS ensures proper attendance to classes while Mumbai Univeristy has a pathetic attendance scenario. The simple points above are enough to prove that NMIMS is better than Mumbai University for MSc Statistics.Read more
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Ques. How is the MSc Applied Statistics and Informatics course in IIT Bombay?

● Top Answer By Adwait Tejas on 17 Mar 23

Ans.  MSc Applied Statistics and Infometrics at IIT Bombay can be challenging for some students who did their B.Sc from Mumbai University, especially if they did not receive sufficient training in statistics. In comparison to Delhi University and Calcutta University, the Mumbai University curriculum is relatively deficient in statistical topics. Consequently, most of the students in the class come from DU and CU. While DU and CU students are often comfortable during the first quarter or half of the semester since they studied similar topics in their bachelor's programs, Mumbai University students may struggle to keep up. Despite the challenges, this course is in line with current analytics trends in the market. The course requires students to complete not only statistics courses but also intermediate-level computer science courses such as C, C++, Data Structures, and Applied Algorithms. Students also receive some exposure to statistical software, depending on which software the professor prefers: SaS or R.Read more
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Ques. Which companies came for placement at ISI Kolkata for an M.Stat?

● Top Answer By Paramita Mukherjee on 22 Aug 22

Ans. Microsoft, Goldman Sachs, Alphonso, JPMC, Walmart, Americal Express, Capital One, Mckinsey, Standard Chartered , etc. are the companies that come for placements at ISI Kolkata for M.Stat. Students are usually recruited as Data Scientists, Analysts, Associates in the field of Actuary, Data Science, Analytics, etc. According to the recent highlights of ISI Kolkata placements, the average CTC offered to M.Stat students is around INR 19 LPA. Read more
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Ques. Which one has got better placement and higher average packages ISI kolkata M.Stat or math and computing from any of the 5 old IITs?

● Top Answer By Sagnik Chakraborty on 16 Sept 21

Ans. I have friends studying in ISI Kolkata and old IITs. Based on my conversations with them, I will say there is no doubt that M.stat students from ISI have better chances of landing jobs with really lucrative salaries. You will be surprised by the fact that ISI is known for its 100% placement ratio for M.Stat. This is not the case you would be able to find in any IIT whether old or new. Even if you pursue a B.tech degree from IIT Bombay (an old and reputed IIT), the institute never succeeds in maintaining a cent-percent placement record. You can even cross-check the stats from IIT Bombay’s website. Students studying mathematics and computing students from IITs, most of them are more inclined toward research careers than jobs. M.Stat degree from ISI is unique in India. The course is highly reputed and the institute itself is far ahead of most Indian institutes in the field of stats, math, and economics. I have attached a video that will brief you on the ISI Placement scenario Overall, ISI stands as a premier institute for fields especially related to stats, math, and economics with a 100% placement ratio.Read more
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Ques. Which IIT is better for an MSc in statistics: Bombay or Kanpur?

● Top Answer By Admin on 28 Jun 24

Ans. IIT Kanpur’s MSc in statistics is very well recognized in India. The entire course is for 2 years. The MSc in Statistics at IIT Kanpur offers more traditional education on statistics which helps the students to enhance their theoretical knowledge. IIT Kanpur has highly qualified faculties for their MSc Statistics department which helps the students get excellent insights and offers great help in the research programs. The placement for this department is really good, with the highest-ever salary package being 27 LPA . The average salary package offered to the students is around 11.68 LPA . Top companies like Goldman Sachs, Walmart, Dunia Finance, Fuzzy Logics, Amazon, Citicorp, Jp MorganChase, Accenture, United Health Groups , and more participate in the placement drive and hire students.Read more
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Ques. How hard is it to get admission into Pondicherry University for an MSc in statistics?

● Top Answer By Rhea Vij on 29 Sept 21

Ans. Actually, it is quite the contrary. It is quite easy to convert to Pondicherry University even if you are a little serious about your studies.  The university conducts its own entrance test every year. You need to clear the test to get admission here. For the test, you need to be moderately prepared (depending on the level of the student) and practice the last 4-5 years of the question paper. The level is easy Most people aim for the IITs, IISc, and ISI Kolkata before joining this university if they do not get a chance there. You can get an idea of the level of the university. The course is good with excellent faculty and a good study environment, more freedom and no academic or social pressures. So it would be a wise decision to join here if you do not get the top colleges.Read more
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Ques. How's M.Sc in statistics in Bangalore University Is it good to do a PG in Bangalore University?

● Top Answer By Shalini Guha on 30 Nov 21

Ans. The Statistics department is one of the best at Bangalore University (BU). But if you are planning on doing your M.Sc. from BU, then it is advised that you opt for it in any other institution. As, BU is known to delay the publication of the results, which is one of the major complaints of the students. They also take no action to rectify their faults. Your complaints will tend to go unheard most of the time.Read more
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Ques. What are the eligibility criteria to pursue a master's in statistics at ISI, Kolkata?

● Top Answer By Raktim Sinha on 19 Jul 22

Ans. The eligibility for pursuing a master’s in Statistics at ISI Kolkata is graduation in a relevant field from a recognized university. You need to have scored at least 55% or the equivalent CGPA in graduation to be eligible for admission. The final admission is based on the entrance examination performance and interview. Read more
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Ques. How's the M.Sc. statistics at Bharathiar University?

● Top Answer By Harsha Jha, on 23 Nov 21

Ans. One of my friends studied at Bharathiar University (BU). According to him, if you can study on your own without the regular guidance of teachers, you can opt for BU. Here if you want to learn something, you have to do it for yourself, as the faculty members wont guide you step by step. BU has a huge library from which you can get the required study materials. So if you are someone who does not require a methodical guidance and can learn on your own, BU will be fine for you.Read more
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Master of Statistics [M.Stat.] Colleges IN INDIA

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Amity University
Noida, Uttar Pradesh
1.07 L first year fees
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50.92 K first year fees
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Amity University
Lucknow, Uttar Pradesh
1.44 L first year fees
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Amity University
Kolkata, West Bengal
80.4 K first year fees
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20 K first year fees
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97.25 K first year fees
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20 K first year fees
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