What is MSc Statistics?
Master of Science in Statistics or MSc Statistics is a postgraduate Statistics course. It is the study of the collection, organization, and interpretation of data. It contends with all aspects of course, including the planning of data collection in terms of the design of surveys and experiments.
Go through the full list of MSc Entrance Exams in India.
The duration of MSc in Statistics is mostly of 2 academic years but it varies from institute to institute. The minimum eligibility for admission to this course is the completion of BSc in Mathematics/Statistics, or graduation in a related discipline from a recognized university.
Admission to MSc Statistics course is mostly through Entrance Exams conducted by the respective institute. Though a few colleges also grant admission on the basis of merit.
The average fee charged in India for MSc Statistics ranges between INR 5,000 and 65,000. The tabulation below is the list of Top MSc Statistics colleges in India as per India Today.
|India Today 2019 Rank||Name of College||Admission Process||Average Annual Fees||Average Placement Salary|
|1||Hindu College, New Delhi||Entrance Exam||INR 16,690||INR 5,00,000|
|9||Christ University, Bangalore||Entrance Exam||INR 65,000||INR 5,75,000|
|17||Ramjas College, New Delhi||Entrance Exam||INR 14,284||INR 3,50,000|
|47||Aligarh Muslim University, Aligarh||Entrance Exam||INR 8,980||INR 4,00,000|
|53||The Oxford College of Science, Bangalore||Entrance Exam||INR 50,000||INR 5,00,000|
This course aims to train you to solve real-world statistical problems. The MSc Statistics syllabus includes subjects like Computational Statistics, Statistical Machine Learning, and the Fundamental Principles of Statistical Inference.
Postgraduates of MSc Statistics get jobs in consultancies, in roles that require analyzing people’s preferences and tendencies. Marketing, Finance, and Data Metrics are other such areas of employment.
The average annual salary offered in India to successful postgraduates MSc Statistics ranges between INR 3,00,000 to 7,00,000.
After successful completion of the MSc Statistics course, a candidate can go for higher studies and research in this field. They can go for a PhD in Statistics, after which they can become lecturers in colleges.
What is the Admission Process for MSc Statistics?
- Admission to MSc Statistics program is through both entrance examinations and merit-based. A few universities offer both direct admission and entrance based admission to the program. However, few Universities require Candidates to have given any of the applicable Entrance Exams for MSc Statistics.
- Candidates who are applying for the MSc Statistics program should have their results beforehand from the respective Entrance Exams required by the selected/opted Universities.
- Applications for admissions can be availed either from the University website or by visiting the Admissions Office of the same. Candidates must have to fill out the required details in a match with the existing documents.
- Candidates are advised to have a look at the list of Entrance Exams applicable for MSc Statistics, for various Universities. They should also make sure they qualify in the education eligibility criteria with the minimum required marks.
- After the results for entrance exams are announced, a merit list will be prepared by the college and the shortlisted candidates will be called for document verification.
- The candidates found eligible will be granted admission to the course.
What is the Eligibility Criteria for Admission to MSc Statistics?
MSc in Statistics admission varies from college to college. In various colleges and Universities, they conduct entrance exams for the admission of the students.
- Completion of BSc Honors in Statistics or Mathematics or Mathematics with Computer Applications along with Statistics as one of the papers or graduation in a related discipline from a recognized institute.
- The minimum aggregate score of 60% at the level of graduation is required for admission into this program.
Which are the Top Entrance Exams for Admission to MSc Statistics?
- National-level MSc Statistics exams are there like CSIR NET in Mathematical Science, SET, Indian Statistical Service (ISS), etc. that are conducted for admission to the course.
- Universities like Jawaharlal Nehru University selects candidates through JNUEE entrance test, Banaras Hindu University selects candidates through BHU PET entrance exam, and the Indian Statistical Institute conducts their own entrance tests for the selection of students.
And the details regarding their intake and entrance examination will be released through their respective sites at the time of admission.
Listed below are some of the popular MSc Statistics entrance exams.
- CSIR NET: CSIR NET is a national-level exam conducted by the National Testing Agency (NTA) on behalf of CSIR (Council of Scientific and Industrial Research) to select candidates for the statistics lectureship in Indian colleges and universities.
- BHU PET: BHU PET is the entrance examination of Banaras Hindu University. The exam is conducted for admission into multiple programs, including MSc Statistics.
- JNU Entrance Exam: Jawaharlal Nehru University conducts its JNUEE entrance exam under the guidance of the National Testing Agency (NTA) for admission into the MSc Statistics program annually.
- ISI Entrance Exam: Indian Statistical Institute (ISI) Admission Test is conducted by ISI Calcutta to take admission in the statistical program annually.
|Exam Name||Conducting Body||Application Period||Exam Date||Exam Mode|
|CSIR NET||NTA||March 16 - June 30, 2020||To be Announced||Online|
|BHU PET||BHU||January 30 - March 21, 2020||August 16 - August 31, 2020||Online|
|JNU Entrance Exam||NTA||March 02 - June 30, 2020||To be Announced||Online|
|ISI Entrance Exam 2020||ISI||February 14 - May 16, 2020||September 20, 2020||Offline/online|
How to Prepare for MSc Statistics Entrance Exams?
The syllabus for MSc Statistics entrance exams will vary from Institute to institute. However, most exams concentrate on areas of mathematical statistics topic-oriented knowledge and skills.
Some points that are useful while preparing for MSc Statistics entrance exams are:
- The students are shortlisted on the basis of the academic records, written exam, and the personal interview. The exam paper is divided into 2 parts such as Objective Type and Descriptive Type.
- Students should know the entire syllabus of the entrance exam which they are going to give because some of these exams are purely based on neuroscience knowledge and some exams may be general and have few sections of biology and core sciences related questions.
- Students should consider buying study material or previous year question papers and practice them for MSc Statistics entrance exams so that they prepare well for the same. BSc Statistics course books also constitute a good study material for these exams.
Check the question paper pattern for BHU PET.
How to Get Admission in a Good MSc Statistics college?
To get admission in the top MSc Statistics College, the following points must be kept in mind:
- The performance of a candidate in the qualifying entrance exams is the basic selection procedure followed by a personal interview in which the panel will judge your interests and skills.
- The candidate should start working on a personal interview round after checking that they are eligible to apply for the MSc Statistics program.
- Having a good score in the previous qualifying exam is an advantage for the candidates to take admission into any good college.
- A few private institutes are there offering the course to admit students based on their performance in a relevant entrance test followed by a round of Personal Interview.
MSc Statistics: What is it about?
- MSc in Statistics is an advanced course dealing with the analysis and interpretation of data that is suited for mathematical applications.
- MSc Statistics offers the students an amalgamation of knowledge on theoretical and applied concepts of Statistics in a wider spectrum.
- Further, it intends to impart awareness on the importance of the conceptual framework of statistics across diversified fields and to provide practical training on the applications of statistical methods.
- The course curriculum has been designed in such a way to cater the needs of stakeholders to get placements in industries and institutions.
- On successful completion of the course and to provide those ample skills and opportunities to meet the challenges at the national level competitive examinations like CSIR NET in Mathematical Science, SET, Indian Statistical Service (ISS), etc.
- As an academic discipline, Statistics is a branch of Mathematics and lays essential emphasis on the concepts and processes involved in collecting and interpreting statistical data. As important areas for collecting statistical data, subjects of study such as Social Sciences, Finance, and Econometrics are covered in this course.
MSc Statistics Course Highlights
Tabulation below is the details of the MSc Statistics program followed by the duration, course fee, admission process, job profiles, areas of employment, etc.
|Full-Form||Master of Science Statistics|
|Eligibility||BSc Honors in Statistics or Mathematics or Mathematics with Computer Applications along with Statistics with a minimum of 60% marks from a recognized university|
|Admission process||Merit-Based or Entrance Examination|
|Average Course Fee||INR 5,000 - 65,000|
|Average Salary||INR 3,00,000 - INR 7,00,000|
|Top Recruiters||Deloitte Consulting, TCS Innovations Labs, Nielsen Company, Blue Ocean Marketing, Accenture, HP, GE Capital, BNP Paribas India, HDFC, Cognizant, RBI, HSBC, American Express, Indian Market Research Bureau, Genpact, etc.|
|Job Profiles||Statistician, Investment Analyst, Arithmetician, Cost Estimator, Online Tutor, Service Estimator, Subject Matter Expert, Assistant Professor, Statistical Investigator, etc.|
|Areas of Employment||Manufacturing Sector, Research Centers, Pharmaceutical Companies, Educational Institutes, Public Sector, Scientific Research Organizations, Research Organizations, Banking Sector, Market Research Companies, Insurance Companies, etc.|
Why Study MSc Statistics?
- Having a MSc in Statistics can confer a candidate with the skills and knowledge to work directly with the government and help in monitoring and controlling price rise and fluctuations.
- A career in teaching, particularly one to do with numbers becomes a distinct possibility with this degree.
- After completion of this course, candidates should be able to choose an appropriate statistical method to solve a given problem of data analysis, implement the analysis on a computer, and communicate your results clearly and succinctly.
- MSc Statistics candidates can find jobs in various finance organisations, data centres, government offices, etc.
- The salary for MSc Statistics candidates is good. The starting salary ranges between INR 3,00,000 to INR 7,00,000, depending on the skills of the candidates.
MSc Statistics vs MSc Mathematics
MSc Statistics is a study of the collection, organization, and interpretation of data, and MSc Mathematics degree provides in-depth knowledge to the students in advanced applied mathematics and prepares them for various research activities. Both these postgraduate degrees has the following differences between them:
|Parameters||MSc Statistics||MSc Mathematics|
|Full-Form||Master of Science in Statistics||Master of Science in Mathematics|
|Overview||MSc Statistics involves the comparison of various data, it teaches us topics like Distribution Theory, Time Series Analysis, Regression Analysis, etc.||MSc Mathematics involves the study of all forms of Mathematics including Trigonometry, Geometry, Algebra, Matrix and Determinant, Calculus, etc.|
|Duration||2 years||2 years|
|Eligibility||BSc Honors in Statistics or Mathematics or Mathematics with Computer Applications along with Statistics with a minimum of 60% marks from a recognized university||Graduation in relevant discipline with a minimum of 50% marks from a recognized university|
|Admission Procedure||Entrance Exam / Merit-based||Entrance Exam / Merit-based|
|Average Fees||INR 5,000 - 65,000||INR 10,000 - 1,00,000|
|Average Salary||INR 3,00,000 - INR 7,00,000||INR 6,00,000 - INR 9,00,000|
|Job Profiles||Statistician, Investment Analyst, Arithmetician, Cost Estimator, Online Tutor, Service Estimator, Subject Matter Expert, Assistant Professor, Statistical Investigator, etc.||Teacher or Professor, Quantitative Risk Analyst, Mathematical Analyst, Equity Quantitative Analyst, Interest Rate Trading Strategist, Quantitative Developer, Assistant Developer - Mathematics, Manager - Mathematics, Mathematics Specialist, Assessment, etc.|
|Areas of Employment||Manufacturing Sector, Research Centers, Pharmaceutical Companies, Educational Institutes, Public Sector, Scientific Research Organizations, Research Organizations, Banking Sector, Market Research Companies, Insurance Companies||Commercial and Industrial Companies, Financial Organizations, Marketing Companies, HR Departments, Govt. Social Services, Defense Forces, Colleges & Universities|
Source: College Websites
Which are the Top Colleges Offering MSc Statistics Course?
The tabulation below shows the best MSc Statistics colleges and universities that offer the course.
Top MSc Statistics Universities
|NIRF 2020 Ranking||Name of University||Location||Average Annual Fees||Average Placement Package|
|3||Banaras Hindu University||Varanasi||INR 6,720||INR 4,50,000|
|6||University of Hyderabad||Hyderabad||INR 9,450||INR 5,25,000|
|17||Aligarh Muslim University||Aligarh||INR 8,980||INR 4,00,000|
|58||Pondicherry University||Pondicherry||INR 26,235||INR 5,00,000|
|65||Mumbai University||Mumbai||INR 13,720||INR 4,75,000|
Top MSc Statistics Colleges
|NIRF 2020 Ranking||Name of College||Location||Average Annual Fees||Average Placement Package|
|3||Hindu College||New Delhi||INR 16,690||INR 5,00,000|
|7||Loyola College||Chennai||INR 5,952||INR 5,00,000|
|14||Sri Venkateswara College||New Delhi||INR 13,191||INR 3,50,000|
|17||Madras Christian College||Chennai||INR 17,583||INR 4,00,000|
Source: College Websites
MSc Statistics College Comparison
The tabulation below shows the comparison made among the three top MSc Statistics colleges in India.
|Parameter||Banaras Hindu University||Aligarh Muslim University||University of Hyderabad|
|Overview||This University is a public university from Varanasi. It is one of the oldest universities in the country. This is one of the best colleges for a MSc Statistics program.||Aligarh Muslim University is established in 1875, which has students from around the world. Its MSc degree is highly ranked and respected in India.||The University of Hyderabad is a public research university, established in 1974, it has students from around the country. Its Statistic program is highly ranked among other research programs.|
|Ranking||NIRF University Rank: 3||NIRF University Rank: 17||NIRF University Rank: 6|
|Average Fees||INR 6,720||INR 8,980||INR 9,450|
|Average Placement Offered||INR 4,50,000||INR 4,00,000||INR 5,25,000|
|Top Companies Visited||Infosys, Coal India, ICICI Bank, IDBI Bank, Pantaloon, Visa Steel, FINO, Ansal API, etc.||IBM, TCS, ICICI Bank, ONGC, L&T, Kotak Securities, Genpact, etc.||TCS Digital, TCS R&D, Convergence, Deloitte, Dr. Reddy's, Renovo Hospital, Aster Prime Hospital, Vedanta, etc.|
Source: College Websites
What are the Subjects Taught in MSc Statistics Course Syllabus?
MSc in Statistics syllabus is almost the same in all the colleges. The table below shows common subjects that are included in the structured MSc Statistics syllabus and subjects included in it:
|1st Semester||2nd Semester|
|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)|
|3rd Semester||4th Semester|
|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)||-|
Which are the Important Books for MSc Statistics Course?
The tabulation below is some of the Statistics subject books that can help students to have a broader and better understanding of the course. The books mentioned below will also help the students in cracking various MSc Statistics exams.
|Name of the Book||Author|
|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|
What are the Job Options Available for MSc Statistics Candidates?
- In this digitalized world, data plays a very important role and Statistics is the key to learning from data and navigating common problems that can lead you to incorrect conclusions.
- Statistics-related work placements are available across both government and private departments.
- Candidates can also develop their skills in statistics through work placements and internships, in sectors such as market research, financial services, operational research, banking sectors, etc.
- Aspirants in the field of Statistics can find job openings in Indian Statistical Services, Insurance industries, Agricultural research, Banks, Demographic Studies, Indian Economic Services, Statistical & Economic Bureaus, Planning Commission, Civil Services and Research, etc.
The following table shows some of the major areas where you can find employment after pursuing a MSc Statistics degree:
|Job profile||Job Description||Average Annual Salary|
|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.||INR 4,00,000|
|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.||INR 5,50,000|
|Service Estimator||The Estimator gathers proposals, blueprints, specifications, and related documents. They are responsible for identifying labor, material, and time requirements. They also calculate costs by analyzing labor, material, and time requirements.||INR 6,00,000|
|Cost Estimator||They gather and analyze 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.||INR 6,25,000|
What are the Future Scopes and Further Studies Options After MSc Statistics?
- Candidates can choose a MPhil and a PhD in Statistics as their higher studies, if they want to study further.
- If MSc Statistics graduates prefer research experience, then they can apply for the Senior Research Fellow post available in this institute.
- This imparts the importance of the role of approximation and mathematical approaches to analyze real problems.
- One can go for teaching positions in leading schools and universities as a Junior Faculty, professor, or as a Research Associate.
- Thus, there are a lot of opportunities open for students after they complete this course. Some of the major profiles are Statistician, Investment Analyst, Arithmetician, Cost Estimator, Online Tutor, Service Estimator, Subject Matter Expert, Assistant Professor, Statistical Investigator, etc.
Some of the popular employment areas for MSc in Statistics postgraduates are:
- Manufacturing Sector
- Research Centers
- Pharmaceutical Companies
- Educational Institutes
- Public Sector
- Scientific Research Organizations
- Banking Sector
- Insurance Companies
MSc Statistics FAQs
Ques. What is the duration of the MSc statistics program?
Ans. The MSc statistics program duration is 2 years (or four semesters).
Ques. Is there any entrance exam for MSc statistics?
Ans. Admission and Selection in the MSc statistics courses occur through either Merit or Entrance Exams. There are colleges which conduct entrance tests, followed by a Personal Interview and there are national-level MSc Statistics exams like CSIR NET in Mathematical Science, SET, Indian Statistical Service (ISS), etc. that are conducted for admission to the course.
Ques. How much is the salary after the MSc statistics course?
Ans. The average starting salary ranges from INR 3 LPA – INR 7 LPA.
Ques. What are the top colleges for MSc statistics?
Ans. The top institutes and colleges for MSc statistics are the University of Hyderabad, Christ University, Mumbai University, Banaras Hindu University, Loyola College, Hindu College, Ramjas College, among others.
Ques. Which job profiles are available for the MSc statistics graduates?
Ans. Students of MSc statistics can work as Statistician, Investment Analyst, Arithmetician, Cost Estimator, Online Tutor, Service Estimator, Subject Matter Expert, Assistant Professor, Statistical Investigator, etc.
Ques. What is the annual average fee charged for the MSc statistics program?
Ans. The annual average fee at the top MSc statistics colleges is between INR 5K to INR 65K for 2 years.
Ques. What is the scope after the MSc statistics degree?
Ans. Candidates can opt for higher education like they can pursue higher education like M.Phil. Or Ph.D. in statistics or there are a lot of opportunities open for students after they complete this course. Some of the major profiles are Statistician, Investment Analyst, Arithmetician, Cost Estimator, Online Tutor, Service Estimator, Subject Matter Expert, Assistant Professor, Statistical Investigator, etc.
Ques. What are the areas of employment after the MSc statistics degree?
Ans. After this degree, there are diverse fields where students can get into are Manufacturing Sector, Research Centers, Pharmaceutical Companies, Educational Institutes, Public Sector, Scientific Research Organizations, Research Organizations, Banking Sector, Market Research Companies, Insurance Companies, etc.