The full form of MSc Statistics is Master of Science in Statistics. It is a two-year postgraduate course. MSc Statistics is designed to provide students with in-depth training in statistical concepts and applications.
The admission into this course is done on both merit and entrance basis. MSc Statistics entrance exam includes DUET, BHU PET, BITSAT, OUCET, IPU CET and TISS NET etc. MSc Statistics eligibility is a BSc degree in Statistics or Mathematics with a minimum of 50-55% marks.
The fees for MSc Statistics is INR 3,000 – 4 Lakhs. Some of the top MSc Statistics colleges are Banaras Hindu University, Calcutta University, University of Hyderabad, and Bharathiar University among others.
MSc Statistics jobs include Investment Analyst, Business Analyst, Risk Analyst, Statistician, Data Analyst, etc. MSc Physics salary ranges from INR 4 – 20 LPA.
Some of the top recruiters for this course are Neilson, Deloitte Consulting, Tata Consultancy Services Innovation Labs, Blue Ocean Marketing, BNP Paribas, Goldman Sachs, Genpact, Accenture, etc.
More MSc Courses:
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MSc Statistics: Course Highlights
Details | Particulars |
Course Name | MSc Statistics |
Course Level | Postgraduate |
Course Full Form | Master of Science in Statistics |
Course Duration | 2 Years |
Course Types | Full time/Distance Education |
Admission Process | Merit and Entrance Based |
Eligibility Criteria | BSc degree in Statistics or Mathematics with a minimum of 50-55% marks. |
Entrance Exams | |
Course Fees | INR 3,000 – 4 Lakhs |
Top Colleges | Banaras Hindu University, Calcutta University, University of Hyderabad, and Bharathiar University. |
Average Salary in India | INR 4 – 20 LPA |
Job Profiles | Investment Analyst, Business Analyst, Risk Analyst, Statistician, Data Analyst, etc. |
Top Recruiters | Neilson, Deloitte Consulting, Tata Consultancy Services Innovation Labs, Blue Ocean Marketing, BNP Paribas, Goldman Sachs, Genpact, Accenture, etc. |
What is MSc Statistics?
An MSc Statistics provides a comprehensive understanding of statistical concepts and techniques, enabling them to analyze data, draw meaningful conclusions, and make informed decisions across various industries and research fields.
Why pursue MSc Statistics?
- The need for data professionals is growing. With the growth of data in many industries, there is a big need for skilled analysts who can look at data and figure out what it means.
- Statisticians help with everything from studying clinical trial data in health care to improving marketing strategies for businesses.
- Opportunities for a wide variety of careers are available with an MSc Statistics. Graduates can find employment as data scientists, statisticians, quantitative analysts, market researchers, and more. Both the public and private sectors have these positions available.
Who Should pursue MSc Statistics?
- Graduates from Related Subjects: An MSc Statistics may enhance the knowledge and skills of graduates in mathematics, engineering, computer science, economics, and other quantitative subjects.
- Followers of Number Theory and Statistics: An MSc Statistics might be a rewarding career choice if one loves math, are good with numbers, and takes pleasure in solving challenging problems.
- Curiosity: Individuals who are curious about data, who like to organize and analyse information, and who want to learn how to draw meaningful conclusions from large amounts of data might think about entering this sector.
MSc Statistics: Course Duration
Two years, or four semesters, are required to complete an MSc Statistics in India. The exact duration may change, however, depending on the college or institution offering the course of study. Each university or college may have different criteria and completion timelines for their MSc Statistics via distance learning programs.
MSc Statistics: Course Types
MSc Statistics is offered to students in two modes that can be pursued full-time or via distance education.
- MSc Statistics Full-Time: This course is organized logically and teaches students both theory and practice. To build strong foundation in MSc Statistics, various aspects of experimental design, data analysis, probability theory, statistical inference, data mining, machine learning, biostatistics, and econometrics are taught.
- MSc Statistics Distance Education: Students who are unable to commit themselves full-time to this course but need a little flexibility in when they spend their study time might take advantage of this option. Students get hands-on experience in the statistical sciences through lab work, fieldwork, and research projects throughout the course of the program.
MSc Statistics: Top Colleges
Given below is a list of all the top Colleges that offer MSc Statistics along with their fees and placement package:
College Name | Location | Average Annual Fees |
Varanasi | INR 6,720 | |
Hyderabad | INR 9,450 | |
Aligarh | INR 8,980 | |
Pondicherry | INR 26,235 | |
Mumbai | INR 13,720 | |
New Delhi | INR 16,690 | |
Chennai | INR 5,952 | |
New Delhi | INR 13,191 | |
Chennai | INR 17,583 |
MSc Statistics: Admission Process
Given below is an overview of both the modes of admission:
Related Article: MSc Admission 2023: Eligibility, Entrance Exam, Colleges, Fees, and Scope
MSc Statistics Admission: Merit Based
- To be eligible for merit-based admission, an applicant must achieve a grade point average of at least 50% or higher on their undergraduate exams.
- Apply to the desired college via its official website or by physically visiting the institution and completing an application form.
- Check the eligibility requirements and ensure you have the necessary documents (10th and 12th Certificates, Undergraduate Degree, Aadhar Card, Photographs, etc.).
- The aspirant must regularly look at the college's official website for merit lists, which will usually be updated regularly.
- If accepted, the applicant will be able to pay the required fees and the admissions process will be concluded.
- If selected from the merit list, candidates are obligated to attend the institution-organized counseling or orientation for additional information.
MSc Statistics Admission: Entrance Based
- Apply to the desired college through their official website or by physically visiting the institution and filling out the application form.
- The application form will require the candidate to register themselves with an email ID, password, and mobile number along with academic and course details.
- The candidate is required to upload the necessary documents online, such as Photograph, 10th, and 12th Certificates, Undergraduate degree, Aadhar Card etc.)
- Once the form is complete, the candidate will be asked to pay a minimal amount of application fee.
- It is advised to check the website regularly for updates on the admit card, entrance exam and entrance exam syllabus.
- Admit cards will be issued to all the eligible students which will have important information such as the date of the examination, examination centre and timings.
- The college/university will then publish lists according to their cutoff and seat availability.
- If selected, a candidate should pay the course fee as soon as possible and attend the orientation/counselling organized by the college for further information.
MSc Statistics: Eligibility
- MSc Statistics admission varies from institution to institution. In many higher education institutions, entrance exams are necessary for student admission.
- A BSc with Honors in Statistics, Mathematics, Maths with Computer Applications, or Maths with Computer Applications and Statistics as one of the papers, or a bachelor's degree in a related field from an institution with accreditation.
- Minimum average score of 60 percent at high school graduation is required for admission to this program.
MSc Statistics: Entrance Exams
The following are some of the most frequent MSc Statistics entrance examinations.
Entrance Exams | Registration Date | Exam Date |
April 2023 | June 1 – 10, 2023 | |
February 2023 | June 2023 | |
February 2023 | June 2023 | |
September 07 – October 11, 2023 | February 12, 2023 | |
April 2023 | July 2023 | |
December 14 – January 15, 2023 | January 28 – February 28, 2023 |
Further Reading: MSc Entrance Exams in India
MSc Statistics: Entrance Exams Syllabus
MSc Statistics syllabus may vary slightly depending on the college or university. However, here are some common topics that are usually included in the syllabus:
Subject | Topics |
Probability and Mathematical Statistics | Probability theory, random variables, probability distributions. Sampling distributions, estimation, hypothesis testing. Joint and conditional distributions, multivariate distributions. |
Calculus and Linear Algebra | Differentiation and integration techniques. Matrices and vectors, determinants, eigenvalues, eigenvectors. |
Statistical Inference | Point estimation, interval estimation. Testing of hypotheses, type I and type II errors, power of tests. |
Multivariate Analysis | Multivariate normal distribution, principal component analysis, factor analysis. Cluster analysis, discriminant analysis. |
Regression Analysis | Simple linear regression, multiple linear regression. Residual analysis, model selection, collinearity.
|
Probability Distributions | Binomial, Poisson, normal, exponential distributions. Properties, moments, and functions related to these distributions. |
Design of Experiments | Basic principles of experimental design. Randomized designs, blocking, factorial designs. |
MSc Statistics: Subjects
MSc Statistics subjects may differ from one college to another. Nevertheless, given below is a list of potential subjects in MSc Phs that students will study:
Subject | Description |
Probability Theory | In-depth study of probability concepts, random variables, probability distributions, joint distributions, and conditional probability. |
Mathematical Statistics | Advanced statistical theory, including estimation, hypothesis testing, likelihood theory, and properties of statistical estimators. |
Statistical Inference | Techniques for drawing conclusions about populations based on sample data, including point estimation, interval estimation, and hypothesis testing. |
Linear Models | Study of linear regression models, including simple and multiple regression, analysis of variance (ANOVA), and analysis of covariance (ANCOVA). |
Multivariate Analysis | Techniques for analyzing data with multiple variables, including principal component analysis, factor analysis, and cluster analysis. |
Time Series Analysis | Analysis of time-dependent data, including modeling, forecasting, and identifying patterns in time series data. |
Design of Experiments | Principles of experimental design, including factorial designs, randomized block designs, and analysis of variance. |
Statistical Computing | Hands-on experience with statistical software such as R or Python for data analysis, visualization, and modeling. |
Non-parametric Statistics | Techniques for analyzing data when assumptions of normality are not met, including rank-based tests and distribution-free methods. |
Bayesian Statistics | Introduction to Bayesian methods for statistical inference, including Bayesian estimation and Bayesian hypothesis testing. |
Survival Analysis | Techniques for analyzing time-to-event data, including Kaplan-Meier estimation and Cox proportional hazards models. |
Sampling Techniques
| Study of different sampling methods, sampling distributions, and strategies for collecting representative samples. |
Applied Statistics | Application of statistical methods to real-world problems in various fields, such as economics, social sciences, healthcare, and more. |
Statistical Quality Control | Concepts of quality control, process monitoring, and statistical techniques for maintaining product and process quality. |
MSc Statistics: Syllabus
The MSc Statistics curriculum may vary slightly between colleges and universities. However, the following topics are typically included in the course syllabus:
MSc Statistics Syllabus: 1st Year | |
Semester - 1 | Semester – 2 |
Distribution Theory | Inference I |
Distribution Theory (Practical) | Inference I (Practical) |
Measure Theory and Probability | Linear Models and Regression Analysis |
Matrix Algebra and Numerical Analysis (Practical) | Linear Models and Regression Analysis (Practical) |
Computer Programming (Practical) | Sample Surveys |
Ancillary Mathematics | Sample Surveys (Practical) |
MSc Statistics Syllabus: 2nd Year | |
Semester - 3 | Semester – 4 |
Inference II | Multivariate Analysis |
Design of Experiments | Econometrics and Economic Statistics |
Time Series Analysis | Environmental Statistics |
Inference II (Practical) | - |
Design of Experiments (Practical) | - |
Time Series Analysis (Practical) | - |
Also Read: MSc Subjects and Syllabus
MSc Statistics: Recommended Books
Mentioned below are some well-known books in the field of Statistics, along with their authors, that those interested must read to gain more information for the course.
Name of the Book | Author’s Name |
Introduction to Probability & Statistics | V K Rohatgi |
The Fundamentals of Mathematical Statistics | S C Gupta and V K Kapoor |
An Introduction to the theory of Statistics | Mood and Graybill |
An Introduction to Mathematical Statistics | Hogg and Craig |
Statistical Methods | N G Das |
MSc Statistics: Jobs
Below is a list of some of the most prominent job possibilities with their average annual salary for MSc Statistics graduates.
Job Profile | Job Description |
Statistician | Employees in this help companies to make sense of quantitative data and to spot trends and make predictions by profession collecting numerical data and then display it. |
Investment Analyst | The job of an Investment Analyst is to provide stockbrokers, fund managers, and stock market traders with financial information and to give advice and recommendations derived from global investment data. |
Service Estimator | The Estimator gathers proposals, blueprints, specifications, and related documents. They are responsible for identifying labour, material, and time requirements. They also calculate costs by analysing labour, material, and time requirements. |
Cost Estimator | They gather and analyse data to estimate the money, materials, time, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular industry/ product. |
Further Reading: MSc Jobs
MSc Statistics: Salary
Given below are the MSc Statistics jobs along with their respective salaries:
Job Profile | Average Salary |
Statistician | INR 4,00,000 |
Investment Analyst | INR 5,50,000 |
Service Estimator | INR 6,00,000 |
Cost Estimator | INR 6,25,000 |
MSc Statistics: Top Recruiters
After completion of MSc Statistics, graduates are qualified to apply for positions in both the private and public sectors. Following is a list of the leading recruiters for this course:
Name of the Company | Average Annual Salary (in INR) |
Epsilon | 11.4 LPA |
TCS | 5.1 LPA |
Radix Analytics | 4.5 LPA |
MRF Tyres | 3.4 LPA |
Torrent Pharmaceuticals | 2.5 LPA |
AIIMS | 4.7 LPA |
GlaxoSmithKline Pharmaceuticals | 7.5 LPA |
SPSS South Asia | 3.1 LPA |
Draup | 3.5 LPA |
MSc Statistics: Scope
MSc Statistics is a discipline that offers immense career opportunities due to its broad applicability in a variety of fields and specializations. Nearly every industry needs the support of statistics to interpret data and analyse market trends in a timely manner. The multiple career options available to you include:
- Trainer in Statistical Content Analysis
- Statistician Lecturer
- Data Scientist
- Biostatistician Consultant
- Data Analyst