Masters in Statistics: What, where and how
Updated on Oct 26, 2018 - 2:53 p.m. IST by Shraya Singh
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Masters in Statistics - Statistics is a lucrative and applied branch of mathematics dealing with the collection, organization, analysis, interpretation and presentation of data. Being a form of mathematical analysis, statistics uses quantified models, representations and synopses for experimental data or real-life studies. The study uses a number of methodologies to gather, review, analyze and draw conclusions from data. A few of the statistical measures are mean, regression analysis, skewness, kurtosis, variance and analysis of variance (ANOVA). A foundational knowledge of these concepts is essential for students who want to pursue a masters in statistics. 

A wide variety of theoretical and applied topics are covered in MS in statistics programs such as probability, actuarial science, and mathematical finance. Other equally important aspects for a masters in statistics are statistical methods and applications, applied regression analysis, statistical models and methods, and mathematical probability. 

Courses for masters in statistics also cover various mathematical concepts like algebra, calculus, number theory, probability theory, game theory, data collection and sampling methods, and statistical modelling. The fields of specialization for a masters in statistics jobs vary depending on the type statistics degree an aspirant choses. Undergraduate degrees are usually three or four year programmes and masters or MS in statistics degrees or graduate programmes are of one to two year duration depending on the country of study. While undergraduate courses in statistics cover all the different fields like biometry, forensics, biostatistics, operational research, predictive analysis, statistical computing, graduate programmes, on the other hand, usually focus on one of these specialization and subsequent masters in statistics jobs are also specific to the area of specialization.

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There are number of different masters in statistics jobs for prospective statisticians. With the production of information heading into the exabyte range on a daily basis, there has been an increase in the data and market research being used in each field. Statisticians, or MS in statistics graduates, have been increasingly been absorbed in market research, medicine and healthcare, public sector, sports, actuarial sciences, agriculture, forestry, environmental work etc.


Masters in Statistics: Eligibility

The basic masters in statistics admission requirements for eligibility for a graduate course in statistics is that the aspirant should ideally possess a bachelor's degree in  either statistics or mathematics. Though this masters in statistics requirement may not be firmly adhered to but the aspirant should have substantial higher level quantitative courses in computer science, electrical engineering, mathematics or any related field. Most of the best universities for masters in statistics prefer candidates with a bachelor’s qualification in a related field. The aspirant should also be able to display an interest in research in the domain of statistics. Another one of the most generally followed masters in statistics admission requirements is that most universities expect a good GPA of 3.2/ 4 and above. Candidates should ideally have GRE scores in the 90th percentile of the quantitative section as well. 


Masters in Statistics: Admission Requirements

The masters in statistics prerequisites for admission are usually similar for all MS in statistics courses around the world. The standard application procedure requires the aspirants to send the following documents to their prospective university of application:

Deadlines for fall admissions start from mid October and end by mid February. Candidates should ensure that their application meets the masters in statistics prerequisites prior to application submission and fee payment. 

Masters in Statistics:Top Universities

Many of the best universities for masters in statistics are located in the United States. Other top universities in the world are located in the UK, Switzerland, Singapore, Canada and China. Stanford University is considered one of the best universities for masters in statistics, both in terms of pedagogical methodology as well as prospective masters in statistics jobs acquired by graduates. Details for some of the best programs for MS in statistics in the world are:

Best Universities for Masters in Statistics

S.no

University

Country

Program

QS World Rank

1

Massachusetts Institute of Technology (MIT)

United States

Master’s in Operations Research

1

2

Harvard University

United States

Data Science Master's Degree

3

2

Stanford University

United States

MS in Statistics

2

4

University of California, Berkeley (UCB)

United States

MA Program in Statistics

27

5

University of Cambridge

United Kingdom

MASt Mathematical Statistics

6

6

University of Oxford

United Kingdom

  • MSc Statistical Science

  • MSc Applied Statistics

5

7

Georgia Institute of Technology

United States

Master of Science in Statistics

69

8

Carnegie Mellon University

United States

MS in Statistics

46

8

Princeton University

United States


13

10

ETH Zurich - Swiss Federal Institute of Technology

Switzerland

MS in Statistics

7

11

National University of Singapore (NUS)

Singapore

MS in Statistics

11

12

Imperial College London

United Kingdom

  • MSc Statistics, 

  • MSc Statistics (Applied Statistics), 

  • MSc Statistics (Biostatistics), MSc Statistics (Statistical Finance), 

  • MSc Statistics (Theory and Methods)

8

13

Columbia University

United States

MA in Statistics


14

University of Michigan

United States

Master's Program Statistics - Applied Statistics

16

15

University of Washington

United States

Master of Science in Statistics

66

16

University of California, Los Angeles (UCLA)

United States

Master of Applied Statistics

32

17

University of Toronto

Canada

MSc Program in Statistics

28

18

Cornell University

United States

MPS (Applied Statistics)

14

19

University of Chicago

United States

M.S. Degree in Statistics

PhD in Statistics

9

20

Tsinghua University

China

Masters programme in Statistics

17

Masters in Statistics: Fees and Funding

The fee for most of the masters in statistics programs varies with the country and the university of application. The annual tuition fee also may vary with the masters program of application with significant differences arising in the tuition for various master of science and master of arts programs. Although it may be higher in some countries, especially the United States, the high quality of masters in statistics jobs obtained by graduates in USA makes up for the educational expenses. Apart from this, scholarships are generally available for academically exceptional students at the university-level as well as the statistical department-level. A few notable scholarships along with the fee structure for a masters in statistics for some of the top programs in the field around the world are given below.

Fees and Funding for Top Biostatistics Graduate Programs

Country

University

Annual Tuition Fee

Notable Scholarships

United States

Stanford University

$16,901

Hertz Fellowship

University of Michigan

$23,339

Alumnae Council Scholarship

United Kingdom

University of Cambridge

£ 19,449

Cambridge Trust Scholarships

University of Oxford

£21,703 - £25,387

Clarendon Fund Scholarship

Singapore

National University of Singapore

S$39,736 - S$48,836

Singapore International Graduate Award

China

Tsinghua University

RMB 30,000 to RMB 238,000

Chinese Government Scholarship

Canada

University of Toronto

CAD $39,921

Government of Canada International Scholarships

Switzerland

ETH Zurich

CHF 580 per semester

Swiss Government Scholarships

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