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If you find the field of math to be interesting and want to pursue a career in this sector, you may have contemplated attaining your Master’s in Applied Statistics. At the same time, however, you may want to gain more information regarding what you will be able to do with this degree once it is earned. Below you will find basic information regarding the Master’s in Applied Statistics that can help you determine whether investing your resources in this degree would be personally advantageous and/or professionally rewarding.
The Master’s in Applied Statistics-A Brief Overview
The Master’s in Applied Statistics is a graduate level degree program that is designed to enable students to develop their data-analytic skills while also exploring the basic areas of applied statistics such as DOE, Analysis of Discrete Data, ANOVA, and MANOVA. Typically, the degree is completed between two to five years and will include courses covering topics like predictive analytics, data mining, statistical consulting, and biostatistics techniques.
Using the Master’s in Applied Statistics
Individuals who obtain a Master’s in Applied Statistics will be prepared to enter a plethora of career fields. Some of the jobs for which these individuals can apply include:
1. Economist
An economist is an individual who studies the distribution and production of goods, services, and resources by researching trends, evaluating economic issues, and collecting and analyzing data. The U.S. Bureau of Labor Statistics reports that economists earn an average of $91,860 per year, or $44.16 per hour.
2. Market Research Analyst
Market research analysts are individuals who study market conditions in order to predict the potential sales of a business’s services and/or products. To help businesses experience continual growth and expansion, market research analysts help companies understand which types of products individuals want, who is most likely to buy them, and what prices they are willing to pay. The U.S. Bureau of Labor Statistics reports that market research analysts earn an average of $60,300 per year, or $28.99 per hour.
3. Personal Financial Advisors
A personal financial advisor is an individual who offers financial advice to individuals. Their job responsibilities are diverse, but can include handling things such as taxes, insurance decisions, and investments. These individuals typically earn about $67,520 annually. Interestingly, employment for individuals within this sector is expected to grow 27% between the years of 2012 to 2022. This is much faster than the average for all vocations. The expected growth of this field is attributed to the fact that as our population ages in light of life expectancy increases, the demand for personal financial planning services will also rise.
The job positions listed above are just three of many career options that individuals who obtain the Master’s in Applied Statistics can pursue. Some other options include:
•insurance researchers
•quality control managers
•project managers
•public health researchers
•statistical consultants
If you have given serious thought to obtaining a graduate-level degree in the field of applied statistics, you should know that doing so can provide you with a plethora of vocational opportunities. In recognizing some of the job opportunities you may have after obtaining a Master’s in Applied Statistics, you can determine whether pursuing this type of advanced education and experience will be the right path for you.
