What is the scope of an MSc degree in Statistics?

Posted May 31, 2021 by ssipune1248

Statistics is the collection, organization, and interpretation of data.

Statisticians in the corporate world are tasked with collecting and organizing data related to company performance, employee performance, etc and analyzing people’s preferences and tendencies.

Symbiosis Statistical Institute (SSI) in Pune is among the best MSc Statistics Colleges in India.

Let us take a brief look at the MSc Statistics course in India.

Course Overview

MSc Statistics is a two-year postgraduate course as provided by SSI. The minimum qualification for this course is a BSc degree in Statistics, Mathematics or any other related field.

The course trains students and familiarizes them with theoretical and applied concepts of statistics. It gives them advanced knowledge of analysis and interpretation of data. Subjects such as Social Studies, Finance, Economics, and Econometrics are also included in this course.

Graduates should be able to choose the correct statistical method to solve problems related to data analysis. They should be able to implement this analysis on a computer and communicate the results clearly and easily.


Here are some of the subjects included in an MSc Statistics course-

● Distribution Theory
● Ancillary Mathematics
● Linear Models and Regression Analysis
● Matrix Algebra and Numerical Analysis
● Measure Theory and Probability
● Multivariate Analysis
● Time Series Analysis
● Environmental Statistics
● Statistical Machine Learning

Salary and Job Prospects

The average salary of an MSc Statistics graduate is around 5-8 LPA. Senior Statistical Analysis positions could pay up to 18 LPA. Here are the common job profiles of MSc Statistics graduates-

● Statistician
● Cost Estimator
● Arithmetician
● Service Estimator
● Investment Analyst
● Professor
● Subject Matter Expert
● Consultant
● Research Analyst

With the advent of Big Data and the advancement of computers and networking in the professional environment, there is a lot of demand for statistics experts. There are a lot of opportunities for Statistics professionals in many different industries such as Banking firms, Investment firms. Pharmaceutical companies, manufacturing companies, research institutes, and the Public Sector.

An MSc Statistics graduate can opt for higher studies such as a PhD in Statistics that will enable him to get a post such as Senior Research Analyst.

Statistics and Data Science is at the core of every successful company and the proper use of statistics can result in a companies success or failure. Statistics professional are a necessity in each company to ensure a strong and data-driven future.


In conclusion, an MSc in Statistics is a great option for students who are interested in statistics and mathematical studies. Statistics and Data form the backbone of any successful company. SSI is among the top MSc Statistics Colleges in India. It offers an excellent curriculum in Applied Statistics that will prepare you for a successful career in the field.
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Issued By SSI Pune
Country India
Categories Education
Tags best msc statistics colleges in india , msc statistics colleges in india
Last Updated May 31, 2021