We used the latest data and insights to identify the highest paying jobs for statistics majors so that you can learn and earn more.
Are you looking for the highest-paying jobs for statistics majors? If so, you’ve come to the right place.
In this article, we’ll explore some of the most lucrative careers for those with a degree in statistics. We’ll also talk about what kind of education it takes to get there and what skills you can expect to gain by getting a degree in statistics.
We’ve sourced this information from a variety of sources, including the Bureau of Labor Statistics. We’ve also looked at data from PayScale, Glassdoor, and Zippia. These reliable sites provide compensation and career trend data for people in different fields.
Ready to learn more? Let’s get started!
Here is a video summary based on this article
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Table of Contents
#10. Accountant
How much do they get paid?
- Source: Salary.com
- Low Range: $48,789 per year
- High Range: $70,369 per year
- Median Pay: $58,984 per year
What do they do?
Accountants are responsible for tracking and reporting financial transactions. They may be called on to help manage budgets, taxes, payrolls, and other aspects of a business’s finances.
Most accountants work in an office environment, but some travel to meet with clients or visit businesses that need accounting services.
What degrees and skills are usually required?
Most employers require at least a bachelor’s degree in accounting. In some cases, you may get by with only an associate’s degree if you have several years of professional experience. Some employers prefer applicants who have a master’s degree in accounting or a related field.
You may also need to pass an exam to become a certified public accountant (CPA). This credential is required in most states, although exceptions exist.
Who’s hiring for this job?
Accountants work in different industries and fields, including:
- Accounting firms
- Businesses (small and large)
- Government agencies (local, state, and federal)
- Pharmaceutical companies
What is the best way to get this job?
You must graduate from an accredited accounting program and pass the CPA exam to become a certified public accountant. You can then look for jobs at accounting firms, businesses, government agencies, or pharmaceutical companies.
Should you become an accountant?
#9. Market Research Analyst
How much do they get paid?
- Source: Glassdoor
- Low Range: $47,000 per year
- High Range: $105,000 per year
- Median Pay: $69,706 per year
What do they do?
Marketing research analysts gather data about consumers and their preferences so companies can make decisions about products, services, and marketing campaigns. They typically work for advertising agencies or market research firms.
These analysts may also be employed by manufacturers who want to know more about their products and businesses needing help with branding.
What degrees and skills are usually required?
Some employers may require a bachelor’s degree in marketing or data analysis. However, many entry-level positions are available to candidates with a high school diploma. In fact, some employers prefer candidates with general experience over those with degrees in the field.
Who’s hiring for this job?
The following industries are currently hiring marketing analysts:
- Advertising agency
- Marketing/advertising department of a large corporation
- Market research firm
What is the best way to get this job?
The most effective way to get a job as a marketing analyst is by networking. Join professional organizations in your field and attend local networking events. You can also look for job openings on websites like Monster and LinkedIn.
Should you become a marketing research analyst?
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#8. Survey Statistician
How much do they get paid?
- Source: Glassdoor
- Low Range: $48,000 per year
- High Range: $107,000 per year
- Median Pay: $71,763 per year
What do they do?
A survey statistician helps conduct research studies by working with large data sets. They might analyze surveys or interview participants to learn more about their opinions, experiences, and beliefs. A survey statistician will also develop models that help explain the results of these studies.
What degrees and skills are usually required?
Survey statisticians need a mathematics, computer science, or statistics degree. Some survey statisticians have advanced degrees. Employers also prefer candidates with experience working with survey data, including experience with statistical software.
In addition to their educational backgrounds, survey statisticians need excellent written and verbal communication skills. They also need creativity and critical-thinking skills because they often have to develop new ways of analyzing large data sets.
Who’s hiring for this job?
Survey statisticians are in high demand. Employers include government agencies, polling firms, universities, research institutes, and consulting companies.
What is the best way to get this job?
If you want to become a survey statistician, start by earning a bachelor’s degree in statistics. You can then get additional training in the field at a graduate school or business school.
You’ll also want to get experience through internships and part-time jobs. Your resume should include any experience with statistical analysis.
Should you become a survey statistician?
#7. Statistical Analyst
How much do they get paid?
- Source: Glassdoor
- Low Range: $54,000 per year
- High Range: $119,000 per year
- Median Pay: $80,304 per year
What do they do?
Statistical analysts are responsible for analyzing data and interpreting the results. They may use statistics to find patterns in a company’s sales records, improve manufacturing processes or determine how well advertising campaigns work.
What degrees and skills are usually required?
Statistical analysts usually have a bachelor’s degree in mathematics or statistics. Some employers prefer candidates with a master’s degree in statistics or another field. This job also requires good analytical skills and an ability to work with numbers.
Who’s hiring for this job?
Statistical analysts are in demand in many companies, including banks, insurance companies, and government agencies.
What is the best way to get this job?
To get a job as a statistical analyst, you need to have strong analytical skills and knowledge of statistics. You can get this experience by taking classes in college or earning a graduate degree. If you already have the education and experience required, you can search for jobs on websites like LinkedIn or Monster.
Should you become a statistical analyst?
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#6. Business Analyst
How much do they get paid?
- Source: Glassdoor
- Low Range: $54,000 per year
- High Range: $124,000 per year
- Median Pay: $81,679 per year
What do they do?
A business analyst works in a company to help make decisions about how to improve its products and services. They may do this by analyzing data, such as customer feedback and sales figures, or by interviewing people.
Business analysts can work for any organization and often report directly to the CEO or another high-level executive.
What degrees and skills are usually required?
The most common degree for a business analyst is an undergraduate degree in computer science, information systems, or management.
However, some companies may also hire individuals with an MBA (master of business administration) or other related degrees.
Who’s hiring for this job?
Many companies hire business analysts, including technology companies and financial institutions. Some common employers include IBM, Microsoft, and Amazon.
What is the best way to get this job?
Business analysts often get hired through on-campus recruiting, job boards, and networking at events like career fairs.
If you’re interested in this career path, you should consider taking courses in marketing, finance, and statistics. You can also get an MBA to gain more management experience and prepare for a career in business analysis.
You can also look for entry-level positions that may not require a degree. Many employers will hire candidates with experience over credentials.
What’s it like to be a business analyst?
#5. Operations Research Analyst
How much do they get paid?
- Source: Glassdoor
- Low Range: $56,000 per year
- High Range: $142,000 per year
- Median Pay: $88,916 per year
What do they do?
An operations research analyst uses mathematical models, data analysis tools, and other techniques to solve problems in business. Operations research analysts work with managers to improve processes within their companies. They may also recommend changes in strategy or production levels.
What degrees and skills are usually required?
You should earn a degree in mathematics, computer science, operations research, or a related field. You may also need to take additional courses in statistics and business administration. It’s helpful to have strong problem-solving skills and experience with computers.
Who’s hiring for this job?
Operations research analysts work for a variety of companies, including retail stores and service firms. Government agencies and military contractors also employ operations research analysts.
What is the best way to get this job?
You can find job openings on Monster.com, Indeed, and other online job sites. You can also get a head start by earning a master’s degree in operations research or related fields.
Should you become an operations research analyst?
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#4. Actuary
How much do they get paid?
- Source: Payscale
- Low Range: $59,000 per year
- High Range: $150,000 per year
- Median Pay: $99,114 per year
What do they do?
Actuaries are responsible for analyzing risk and uncertainty in many different areas, including:
- Insurance
- Finance
- Medicine (particularly with regard to health care costs)
They use statistics and mathematics to determine how much money a company should set aside to pay for all possible risks.
What degrees and skills are usually required?
Most actuaries have a bachelor’s degree in actuarial science, mathematics, statistics, or finance. In addition, some employers require that actuaries have passed a series of exams to become certified. You may also need a solid understanding of insurance and risk management.
Who’s hiring for this job?
Most actuaries work for insurance companies, but they can also be found in financial services and consulting firms. Some actuaries are self-employed, while others work as university professors.
What is the best way to get this job?
To become an actuary, earn a bachelor’s degree in actuarial science or statistics. Then, you should take the exams required by your state to become certified. You can also consider getting a master’s degree or Ph.D. in mathematics or statistics.
Once you have your degree, you can begin working as an entry-level actuarial analyst at one of these companies. You will have to take continuing education courses throughout your career to keep up with changes in the field and stay current with new developments.
Should you become an actuary?
#3. Data Scientist
How much do they get paid?
- Source: Glassdoor
- Low Range: $77,000 per year
- High Range: $202,000 per year
- Median Pay: $124,272 per year
What do they do?
Data scientists analyze data to improve business processes and make informed decisions. They may work with all types of data but most commonly focus on large sets of complex information.
These scientists often use statistical models, machine learning algorithms, and other analytical techniques to make sense of data. They may also create reports that provide insights into business practices or trends.
What degrees and skills are usually required?
Data scientists must be good at analyzing complex data, and they need to know how to use the right software. You also need strong communication skills because you’ll have to explain your findings in a way that others can understand.
Many employers expect employees to have a master’s degree in statistics, data science, or applied mathematics.
Who’s hiring for this job?
Data scientists are in demand at all kinds of companies, including tech firms like Google and IBM. You might also find opportunities at consulting firms or research institutions.
What is the best way to get this job?
You can’t just walk into a data scientist role. Most employers require applicants to have at least one or two years of experience in the field.
You can build up your skills by taking classes or participating in projects through organizations like Kaggle, which hosts competitions for data scientists to work on real-world problems.
Should you become a data scientist?
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#2. Business Intelligence Manager
How much do they get paid?
- Source: Glassdoor
- Low Range: $92,000 per year
- High Range: $223,000 per year
- Median Pay: $141,626 per year
What do they do?
Business intelligence (BI) managers work with teams to find ways to collect and analyze consumer data.
They then use this information to help businesses make better decisions about their products, services, and marketing strategies. Their goal is to give decision-makers the data they need to predict trends and improve performance over time.
What degrees and skills are usually required?
BI managers typically need at least a bachelor’s degree in business, computer science, information technology, or statistics. A master’s degree is usually preferred. You may also need to have experience as a data analyst.
Who’s hiring for this job?
Many companies hire business intelligence managers, including software companies and retailers. They may also be hired by consulting firms, banks, and insurance companies.
What is the best way to get this job?
The most effective way to get a job as a business intelligence manager is by networking. You can start by asking your friends, family members, and colleagues if they know of any job openings in this field. If not, try joining online groups related to BI and data analytics.
What’s it like to be a business intelligence manager?
#1. Quantitative Analyst
How much do they get paid?
- Source: Glassdoor
- Low Range: $91,000 per year
- High Range: $228,000 per year
- Median Pay: $142,771 per year
What do they do?
A quantitative analyst is someone who uses data analysis to solve business problems. They are the ones who create, analyze, and interpret data to help their companies make better decisions.
This job description can sound pretty vague, but don’t worry. There’s more to it than that. A quantitative analyst might be responsible for things like:
- Developing and testing models for forecasting and optimization.
- Identifying trends in sales or market share by analyzing large amounts of data using statistical techniques such as regression analysis, time series analysis, cluster analysis, etc.
- Designing experiments/studies (e.g., A/B tests) involving websites or mobile apps so they can be optimized based on user behavior patterns derived from recorded data points over time.
What degrees and skills are usually required?
Quantitative analysts need at least a bachelor’s degree in mathematics, statistics, or a related discipline. Many employers also require candidates to have graduate degrees in applied math or computer science.
This job also requires strong analytical skills and the ability to interpret data and make sense of it. A good understanding of statistical concepts is also important.
Who’s hiring for this job?
A wide range of companies hire these analysts. These include healthcare providers, insurance companies, financial institutions, retailers, and manufacturers.
Other employers include consulting firms and government agencies. Some analysts work as independent contractors or consultants for small businesses that don’t have the resources to hire full-time employees.
What is the best way to get this job?
The most common way to get into data analysis is by earning a bachelor’s degree. If you have an undergraduate degree in another field, many employers will still hire you—but you may need to take extra classes to fill any gaps in your knowledge.
Should you become a quantitative analyst?
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Conclusion
As a statistics major, you are uniquely positioned to contribute to the world around you. You can use your skills to help make decisions and find solutions to improve lives. Whether it is helping companies develop new products or working directly with people who need support.
Statistics is an integral part of the modern world, and by studying it, you’ll be in high demand no matter your career path.
We hope this article has helped you better understand how statistics can be useful in your career.
I have a bachelor’s in mathematics and statistics