Master of Science in Statistics Top Colleges, Syllabus, Scope and Salary

Master of Science in Statistics or M.Sc Statistics is a 3-year postgraduate course, the minimum eligibility for admission to which is completion of B.A. (Honors)/ B.Sc.(Honors) in Statistics or Mathematics, or graduation in a related discipline from a recognized university. 

As an academic discipline, Statistics is an offshoot of Mathematics, and lays essential emphasis on the concepts and processes involved in collecting and interpreting statistical data. Being potential areas for gathering statistical data, subjects of study such as Social Sciences, Finance, and Econometrics are covered in this course.

Ideal candidates of the course would have a firm background in Mathematics, particularly Algebra, and advanced subjects like Multivariable Calculus, besides areas of survey sampling and experiment implementation.

Master of Science in Maharashtra

Master of Science in Andhra Pradesh

Master of Science in West Bengal

Master of Science in Uttar Pradesh

Such postgraduates are lucratively hired at consultancies, in roles that require analyzing people’s preferences and tendencies. Finance, Marketing, and Data Metrics are other such areas of employment.

The average fee charged in India for Masters in Statistics ranges between INR 5,000 and 50,000. However, the average annual salary offered in India to successful postgraduates of the course ranges between INR 5 and 7 lacs. Some of the top institutes offering the course include:

• Loyola College, Chennai
• Madras Christian College
• Amity University, Noida
• The Oxford College of Science
• Ramjas College, University of Delhi

M.Sc Statistics: Course Highlights

Listed below are some of the major highlights of the course.

M.Sc Statistics: What is it About?

Fundamentally, M.Sc Statistics is an advanced study of the collection, organization, and interpretation of data. Even though data is usually in the form of numerical figures, it can also be expressed as a relationship between different such entities. The course’s curriculum also covers supporting features of data management, such as assisting surveys.

Enrolled students are taught appropriate statistical methods to solve data analysis- related technicalities, to implement such analyses on computer, and to interpret and communicate the results clearly and succinctly. Also, the course offers advanced training in applied and computational statistics, statistical machine learning, and the fundamental principles of statistical inference. Training is imparted through extensive lectures and hands-on practical sessions. Students work in the computer laboratory, perform exhaustive report writing and prepare supervised dissertations.

M.Sc Statistics: Who should opt?

Ideal candidates of the course should be able to:

• apply Mathematics and Statistics to help develop solutions to practical problem.
• follow complex mathematical and statistical arguments and develop brief arguments of their own.
• operate mathematical and statistical computer software packages.
• find, extract, and analyze data from varied sources.
• communicate mathematical and statistical information effectively to generate feasible results.
• demonstrate sufficient organizational skills.

Top Institutes offering M.Sc Statistics

Listed below are some of the top institutes offering the course in the country with the corresponding locations and fees charged by each.

Eligibility for M.Sc Statistics

Candidates aspiring to pursue M.Sc Statistics need to fulfil the below-mentioned eligibility criterion.

• Completion of B.A. (Honors)/ B.Sc.(Honors) in Statistics or Mathematics or graduation in a related discipline from a recognized institute
• Mathematics and Statistics as main subjects at the level of graduation 
• Minimum aggregate score of 60% at the level of graduation

M.Sc Statistics: Admission Process

The mode of admission to the course may vary across institutes. Some institutes conduct their own entrance exams for selecting and admitting candidates, while some select students on the basis of the merit obtained at the level of graduation.

M.Sc Statistics: Syllabus and Course Description

A semester-wise breakup of the course’s syllabus is tabulated below.

M.Sc Statistics: Career Prospects

Some of the popular professional avenues open to successful postgraduates of the course are listed below with the corresponding salaries offered for the respective positions.

1. Candidate will be shortlisted for admission to above-mentioned UG courses based on the rank and marks secured in the university entrance examination.
2. According to the rank list, candidates will be eligible for the seats allocated to all colleges/institutions under State merit, reserved quotas and communal reservation seats.

Aspirants seeking admission to 2-year M.Sc Program should be a graduate in relevant stream from a recognized university or equivalent.