M.Com Statistics is a postgraduate degree program, usually of 2 years, ideal for students looking to pursue a career in banking, finance, investment or accounting. It is a specialization course dealing with the subject area of statistics - the art and science of collecting and analyzing data to draw meaningful inferences.
See More: MCom Courses
Basic Eligibility of MCom Statistics to get Passed in BCom/BA/BBA with at least 55% Aggregate in relevant stream from any recognised college or institute.
Admission to these courses is based on the Entrance exams conducted at the state level and the national level.
The starting salary for a freshman is about 3 lakhs to 9 lakhs LPA. Candidates who want to become Data Analyst, Senior Accountant, Business Analyst, Bank Manager, Investment Banker, Finance Manager, Risk Analyst etc usually go after this course.
MCom Statistics: Course Highlights
Few of the highlights of this course are given below:
| Course Level | Post Graduate |
| Full-Form | Master of Commerce in Statistics |
| Duration | 2 years |
| Examination type | Semester wise |
| Eligibility | Completed B.Com/BA/BBA in relevant stream with at least 50% aggregate from any recognised university |
| Admission Process | Entrance and Merit based |
| Course Fee | INR 12,000 to INR 1,60,000 |
| Average Salary | INR 3,50,000 to INR 6,00,000 |
| Top Recruiting Companies | Deloitte, EY, KPMG, TCS, Goldman Sachs, Deutsche Bank, McKinsey & Company, Kotak Securities |
| Job Positions | Data Analyst, Senior Accountant, Business Analyst, Bank Manager, Investment Banker, Finance Manager, Risk Analyst |
Do I qualify for MCom Statistics eligibility Criteria?
Candidates are advised to see eligibility criteria before applying for admission in any university or college.
- A Candidate must have Completed B.Com/BA/BBA in relevant stream with at least 50% aggregate from any recognised university
- A Candidate must have Completed 10+2 Level Education in commerce from any recognised board.
What is the MCom Statistics Admission Process
Admissions in MCom Statistics courses are also done through both merit and entrance exams.
Direct Admission
Candidates who are willing to get admission in this stream can apply to MCom Statistics colleges by both offline and online means.
- You can either reach the official website of the institute or to this step admission office of the institute to fill the admission application form.
- Fill the application form required and upload all the necessary documents which are asked in the form.
- After completion of the process of application, go for counselling round and attend the personal interview round to get your desired college.
Entrance Exam Based Admission
What are the top MCom Statistics Entrance Exams?
The top MCom Statistics Entrance Exams are:
| Entrance Exam Name | Registration Date | Exam Date | Exam Mode |
|---|---|---|---|
| CUET PG | Mid March 2023 - 3rd week of March 2023 | June 1 – 10, 2023 | Online |
| DUET PG | Mid March 2023 – 3rd week of March 2023 | June 1 – 10, 2023 | Informed on the website |
MCom Statistics: Entrance Exam Preparation Tips
- Divide your schedule: Studying without a deadline isn’t something that candidates can afford, therefore they must assign their days to certain topics and finish them within the deadline.
- Keep your resources limited: It is a must for candidates to remain focused and having too many resources will only alleviate the stress. Therefore, they must research well and shortlist some resources for the study plan and stick to it. Remember, Candidates can’t cover everything from everywhere, therefore keep it simple and accurate.
- Revision is the Key: Candidates should not keep revision for the last minute. They should keep revision sessions for regular intervals. They should make some crisp notes for the last minute reading and avoid unnecessary panic before the exam.
Why should you pursue MCom Statistics?
- Data is soon becoming the new currency and unless we know how to make full use of it, we cannot derive the respective benefits
- An M.Com Statistics deals primarily with data analysis and interpretation and those who do this course will acquire the complete knowledge set of how to analyse data, which models to build, which tests to run, how to interpret it and finally, the practical applications for companies and governments alike
- Anyone pursuing this course will definitely develop the most important skill of analysis and logical reasoning. Other skills like data interpretation, critical reasoning, the ability to recognize patterns in a large set of data, testing appropriateness of parameters etc will automatically come as a part of the course
- After completion of this course, a candidate will not only be eligible for a job in the banking and finance sector, but can also pursue professorship or join a consulting firm. Come what may, data is here to stay
MCom Statistics: Course Advantages
- M.Com Statistics is a specialization course in Statistics, studied from a commerce perspective.
- It deals mainly with collection, organization, analysis and interpretation of data which can be used by business organizations.
- It uses mathematical models and is quite often used in the insurance and banking industry.
- One could also say that this course forms the basis of data analysis as we know today and is sure to add high value to any candidate’s profile.
MCom Statistics: Course Comparison
All these degrees may sound similar. But M.Com Statistics and M.Sc Statistics are different courses. Below is mentioned the comparison of all these courses:
See More: Top MSc Statistics Colleges in India
| Parameter | M.Com Statistics | M.Sc Statistics |
|---|---|---|
| Overview | This is a course which looks at the real life, specifically, business application of statistical tools and techniques. | This is an advanced course in statistics and deals with the mathematical and real life applications of statistical techniques. It is very helpful for research in almost all fields. |
| Eligibility | Completion of an undergraduate degree with at least 45% marks. | Completion of B.Sc Statistics, B.Sc Mathematics or B.Sc Mathematics with Computer Applications with at least 50-55% marks |
| Admission Process | Entrance Exam or Merit Based | Entrance exam |
| Average Annual Fee | Rs 60,000 | Rs 65,000 |
| Average Annual Salary | Rs 4,50,000 | Rs 6,94,000 |
| Top Recruiters | Deloitte, EY, KPMG, TCS, Goldman Sachs, Deutsche Bank, McKinsey & Company, Kotak Securities | TCS, Gartner, Fractal Analytics, Genpact, Accenture, Nielsen, |
| Job Profiles | Data Analyst, Senior Accountant, Business Analyst, Bank Manager, Investment Banker, Finance Manager, Risk Analyst | Data Scientist, Data Analyst, Statistician, Analytics Consultant, SAS Programmer, Statistical Analyst, Analytics Manager |
MCom Statistics: Top Colleges
Many colleges are offering this course in India. Some of the top colleges offering this course are listed below –
| Name of the College | Average fees |
|---|---|
| Shri Ram College of Commerce (SRCC) | INR 12,000 |
| Christ College | INR 1,65,000 |
| Hansraj College, Delhi | INR 19,000 |
| Stella Maris College, Chennai | INR 40,000 |
| Symbiosis College of Arts and Commerce | INR 45,000 |
- There are very few colleges which require the candidate to give a qualifying exam.
- However, in case of an entrance exam, the institutes upload the date and respective details on their websites through which an application for the same has to be made.
- At this point, very few details are required but some essentials like marks in Class 10 and 12 as well as marks in undergraduate are required.
- Institutes require the candidate to obtain at least 45% marks in the entrance exam in order to be considered for admission.
- Post the exam, a merit list is released with the names of the qualifying candidates who then have to complete the formalities and pay the fees.
- Some colleges, like St Joseph’s College of Commerce also require the candidate to appear for an interview post the exam.
MCom Statistics: College Comparison
College Comparison between SRCC and Christ College is given below:
| Parameter | SRCC | Christ College |
|---|---|---|
| Location | New Delhi | Bangalore |
| Affiliated to | University of Delhi | Christ (Deemed to be) University |
| Admission Mode | Entrance Exam Based | Merit Based |
| Average Annual Fee | Rs 12,000 | Rs 1,65,000 |
| Average Placement Offer | Rs 6,00,000 | Rs 5,70,000 |
| Top Recruiters | EY, Dell, Deloitte, Citi Bank, HUL, AGI, KPMG | BCG, Goldman Sachs, TCS, Deutsche Bank |
MCom Statistics: Tips to get Best College
To get admission into a good college one needs to ensure to have scored more than 90% at the Intermediate level. Apart from this, most of the institutes provide admission to the course on the basis of entrance examinations, hence preparing well for the entrance exams is a must for an aspirant to get the best college.
Note: Before shortlisting and selecting colleges finally, they must ensure to check the placement rate of the college, method of course delivery, admission system, and the financial aid offered there.
MCom Statistics: Syllabus
A typical MCom Statistics syllabus is written below –
The table shows some of the topics taught in the course throughout the 2 years of education.
| Semester I | Semester II |
|---|---|
| Advanced Statistics - I | Advanced Statistics - II |
| Testing of Hypothesis | Statistical Inference |
| Univariate Distributions | Econometrics Methods |
| Time Series Analysis | Index Numbers |
| Non- Parametric Tests | Indian Official Statistics |
| Semester III | Semester IV |
| Advanced Statistics - III | Advanced Statistics - IV |
MCom Statistics: Recommended Books
Some of the important reference books are mentioned below:
| Name of the book | Author |
|---|---|
| Advanced Statistical Methods: A Practical Handbook | Dr. R. K. Tailor |
| Probability Theory: Introduction to Random Variables and Probability Distributions | Mark Smart |
| Business Statistics in Practice: Using Data, Modeling, and Analytics | Bowerman, Connell and Murphee |
MCom Statistics: Job Prospects
Since this course is math heavy and requires a lot of analysis, the job profiles are also similar.
- Most recruiters are from the banking and finance arena and are looking for data analysts, risk analysts, financial managers, business analysts and similar profiles
- There is a lot of scope for growth since data analytics is a very upcoming field
- Most jobs are in the private sector since businesses require such expertise, but the government also has such jobs mostly in PSUs like SBI and LIC. Most government teaching jobs also require that one must have completed M.Com.
Top Job Profile and Average Salary are given below:
| Job Profile | Average annual Salary |
|---|---|
| Risk Analyst | INR 10 lakhs |
| Finance Manager | INR 7.75 lakhs |
| Branch Manager | INR 9.2 lakhs |
| Accounts Administrator | INR 4.2 lakhs |
| Accounts Payable Specialist | INR 2.75 lakhs |
| Assistant Branch Manager | INR 4 lakhs |
Future scope after MCom Statistics
After completing the MCom Statistics course graduates can continue doing their further study and go for a PhD. It will enhance their language skills and provide more knowledge. Graduates can work in the government sector as well as the private sector.
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PhD: If a student wants to continue in the same field of education, the second program of choice is a PhD. It is a three to five year duration course and the eligibility criteria include having a MSc Degree in related disciplines.
See Also Top PhD Colleges in India
MCom Statistics: FAQs
Ques. Is there any prerequisite for M.Com Statistics?
Ans. There are no requirements as such, but having a background in mathematics, statistics or finance is preferable
Ques. What is statistics?
Ans. Statistics is the art and science of collection, organization, analysis and interpretation of data with a set objective. It deals with the various methods of each and how to apply them.
Ques. Can I pursue M.Com Statistics after doing a plain B.Com?
Ans. To pursue an M.Com Statistics, one needs to have either studied a B.Sc. Statistics or specialized in mathematics/statistics during undergraduate or have a background in either.
Ques. Is M.Com Statistics worth pursuing?
Ans. The answer depends on your future goal. Although it gives one a headstart in the finance world, M.Com is generally regarded as a degree that teachers pursue. While this may not be true for M.Com Statistics, it is advisable to consider your end goal before deciding on this degree.
Ques. Is there reservation for M.Com Statistics?
Ans. Yes, there is reservation in most top colleges for caste categories and for Christian minorities in south Indian colleges as well. The percent differs from college to college.
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