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MSc Statistics: Admission 2023, Eligibility, Top Colleges, Entrance Exams, Syllabus, Jobs, Salary

Course

Chaitanya Sharma

Updated on 03rd November, 2023 , 9 min read

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 UniversityCalcutta 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: 

MSc Physics

MSc Psychology

MSc Nutrition and Dietetics

MSc Food Technology

MSc Zoology

MSc Sports and Event Management

MSc Computer Science

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MSc Statistics: Course Highlights 

MSc-Statistics

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

DUET, BHU PET, BITSAT, OUCET, IPU CET and TISS NET

Course Fees

INR 3,000 – 4 Lakhs

Top Colleges

Banaras Hindu UniversityCalcutta 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:

MSc-Statistics-Top-Colleges

College Name

Location

Average Annual Fees

Banaras Hindu University

Varanasi

INR 6,720

University of Hyderabad

Hyderabad

INR 9,450

Aligarh Muslim University

Aligarh

INR 8,980

Pondicherry University

Pondicherry

INR 26,235

Mumbai University

Mumbai

INR 13,720

Hindu College

New Delhi

INR 16,690

Loyola College

Chennai

INR 5,952

Sri Venkateswara College

New Delhi

INR 13,191

Madras Christian College

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

CUCET-PG

April 2023

June 1 – 10, 2023

BITSAT

February 2023

June 2023

NEST

February 2023

June 2023

IIT JAM

September 07 – October 11, 2023

February 12, 2023

DUET

April 2023

July 2023

TISS NET

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

Frequently Asked Questions

What is a MSc statistics?

An MSc Statistics is a graduate degree that focuses on advanced methods in statistics, data analysis, and mathematical modeling. It offers students with the skills and knowledge required for using statistical techniques to solve real-world problems in a variety of industries and research fields.

What are the requirements for admission in the MSc Statistics program?

Applicants must typically hold a bachelor's degree in mathematics, statistics, or a related field. Some programs may also accept applicants with degrees in engineering, computer science, or the natural sciences, provided they have a solid foundation in mathematics and statistical concepts.

What subjects are included in MSc Statistics?

Courses in advanced statistical theory, probability theory, mathematical statistics, multivariate analysis, linear models, Bayesian statistics, time series analysis, and experimental design are typically included in the curriculum. In addition, students may be able to take elective courses in areas like machine learning, data mining, and statistical computation.

Can I pursue an MSc Statistics without a strong mathematical background?

While a solid mathematical foundation is advantageous, some programs offer required classes to help students bridge the divide in their mathematical knowledge. It is essential, however, to review the program's specific requirements to determine if they correlate with your academic background and career objectives.

Does MSc Statistics include a research element?

Multiple MSc Statistics programs combine a research element, such as a dissertation or a research project. This enables students to explore a particular area of statistics and acquire research experience.

What opportunities are available for internships and industry collaborations in MSc Statistics?

Some MSc Statistics programs may offer residencies or collaborations with business partners, exposing students to real-world statistical challenges and providing potential networking opportunities.

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