9 Dream Jobs For Masters In Applied Statistics Graduates
/Applied statistics is among the budding fields in the US as it gets even greater each day. The Bureau of Labor Statistics estimates a 33 percent increase in applied statistics jobs come 2026. That means the demand for well-versed applied statisticians will also rise. If you are wondering what kind of jobs to pursue with a master's in applied statistics, take a look at these nine dream jobs.
Operations Research Analyst
Most organizations, including the defence department and private corporations, rely on mathematical and statistical skills of operation research analysts to assess their operations, streamline processes, and make the organization function better. Luckily, a master’s degree in applied statistics increases your chances of becoming an operations research analyst.
The BLS report indicates that this operation research occupation has hired about 104,100 workers as of 2020. It is predicted that this profession will see a 25% job growth rate between 2020 and 2030, thereby increasing the number of new opportunities.
Statistician
Becoming a statistician is among the most popular job options in the US. As of 2020, the United States alone had nearly 42,000 statisticians and is projected to get to about 57,000 by 2030.
Statisticians use the techniques and principles of statistical analysis to capture, comprehend, and interpret numerical data. Their work enables them to determine numerical trends in every field and recognize all the life, social, and physical sciences phenomena.
Bureau of Labor statistics expects statistician job opportunities to grow by 33% between 2020 and 2030. With this predicted growth rate, about 14,900 new statistician jobs would come up soon.
As of May 2020, statisticians took home a medium annual wage of $93,290, which is way more than the average yearly wage for other workers. On top of that, mathematicians and statisticians benefit from a robustly positive job outlook.
The wage numbers should give you every reason to enroll for a masters in applied statistics online to increase your chances of being considered for the job and getting higher pay.
Financial Analyst
Financial analysts come in handy when building notable market knowledge information and use it to conduct statistical analysis and research. Then, they share the findings intending to maximize existing resources to boost financial outcomes.
These professionals deal with diverse clients, ranging from families and individuals to broad multinational corporations. According to the Bureau of Labor Statistics, financial analysts had a medium annual wage of $83,660 as of May 2020.
With the average job growth projection for financial analysts standing at 6% through 2030, it is possible hundreds of thousands of these positions are available in the US.
Biostatistician
When you take your applied statistical knowledge and use it in the healthcare field, you may obtain the job title of a biostatistician. These specialized professionals work in job settings, such as medical clinics, hospitals, and pharmaceutical companies.
Biostatisticians blend statistics and life sciences to produce reporting and analysis for fields like medicine, public health, and environmental science. They develop clinical trials and other studies and choose the best data collection method for the project.
Data Scientist
The focus of data scientists is often on resolving specific complex matters that involve large data sets through modeling and analysis. Data scientists use statistical software to envision issues and results, combined with data-focused programming languages. On average, data scientists have a higher earning potential, with their average base salary standing at $96.420.
Data Analysts
Data analysts identify current trends in consumer behavior depending on various data sources. They use customer surveys, A/B tests, and purchasing behaviors to determine the failures and successes of business initiatives. The career is different from data science because it focuses more on present trends than future projections. As private and public employers seek to broaden their analytical efforts, this statistical majors' job will remain in demand.
Business Intelligence Analyst
These professionals use applied statistics to paint clear pictures of the current market conditions. The business intelligence analyst evaluates sales data to predict customers’ responses to new product releases. The work involves creating analytical methods, identifying data anomalies, and verifying income data. This profession features a 15% estimated growth in jobs by 2030.
Sports Analyst
Modern sports remain at the forefront in generating massive data for media teams and outlets. Sports analysts working for TV networks and publications use applied statistics to gain insights into upcoming games.
Sports analysts also come in handy for professional and college teams, helping them determine opponent strategies and boost player performance. These professionals use player data and historical happenings to forecast outcomes and enable teams and coaches to remain competitive on the playing field.
Even though the sports analytics field is still in its early stages, sports analysts earn salaries similar to statisticians. You can also consider going for this job if you have a master’s degree in statistics.
Statistics Professor
Obtaining your master's degree in applied statistics is a bold step to attaining your dream of becoming a statistics professor. With their advanced education, statistics professors train future professionals to enable them to tackle global problems with data.
Applied statistics cut across the modern workforce while focusing on real-world statistical process applications. From the discussion above, you can tell that there is indeed a broad career base for current and future statistics students. If you don't have a master's degree yet, consider enrolling for an online course to remain competitive and stand a better chance of getting high-paying applied statistics jobs.
