M.Sc. Statistics is a 3-year postgraduate course, the minimum eligibility for admission to which is the completion of B.A. (Honors)/ B.Sc.(Honors) in Statistics or Mathematics, or graduation in a related discipline from a recognized university.
Top Institutes offering M.Sc. Statistics are:
- Loyola College, Chennai
- Madras Christian College
- Amity University, Noida
- The Oxford College of Science
- Ramjas College, University of Delhi
As an academic discipline, Statistics is an offshoot of Mathematics and lays essential emphasis on the concepts and processes involved in collecting and interpreting statistical data. Being potential areas for gathering statistical data, subjects of study such as Social Sciences, Finance, and Econometrics are covered in this course.
Ideal candidates of M.Sc. Statistics course would have a firm background in Mathematics, particularly Algebra, and advanced subjects like Multivariable Calculus, besides areas of survey sampling and experiment implementation.
M.Sc. Statistics postgraduates are lucratively hired at consultancies, in roles that require analyzing people’s preferences and tendencies. Finance, Marketing, and Data Metrics are other such areas of employment.
The average fee charged in India for M.Sc. Statistics range between INR 5,000 and 50,000. However, the average annual salary offered in India to successful postgraduates of the course ranges between INR 5 and 7 lacs.
Top Colleges for Master of Science [M.Sc] (Statistics)
- Master of Science [M.Sc] (Statistics) in Tamil Nadu
- Master of Science [M.Sc] (Statistics) in Uttar Pradesh
- Master of Science [M.Sc] (Statistics) in Maharashtra
- Master of Science [M.Sc] (Statistics) in Kerala
- Master of Science [M.Sc] (Statistics) in Karnataka
M.Sc. Statistics: Course Highlights
Listed below are some of the major highlights of the course.
|Examination Type||Semester system|
|Eligibility||Graduate from a recognized university|
|Admission Process||Direct admission to colleges. Entrance test in some cases.|
|Course Fee||INR 5,000 – 50,000|
|Average Starting Salary||INR 5 – 7 lacs|
|Top Recruiting Fields/Areas||Public and private sectors, Defense, Research, etc.|
M.Sc. Statistics: What is it About?
Fundamentally, M.Sc. Statistics is an advanced study of the collection, organization, and interpretation of data. Even though data is usually in the form of numerical figures, it can also be expressed as a relationship between different such entities. The course’s curriculum also covers supporting features of data management, such as assisting surveys.
Enrolled students are taught appropriate statistical methods to solve data analysis- related technicalities, to implement such analyses on computer, and to interpret and communicate the results clearly and succinctly. Also, M.Sc. Statistics course offers advanced training in applied and computational statistics, statistical machine learning, and the fundamental principles of statistical inference. Training is imparted through extensive lectures and hands-on practical sessions. Students work in the computer laboratory, perform exhaustive report writing and prepare supervised dissertations.
M.Sc. Statistics: Who should opt?
Ideal candidates for M.Sc. Statistics course should be able to:
- apply Mathematics and Statistics to help develop solutions to practical problem.
- follow complex mathematical and statistical arguments and develop brief arguments of their own.
- operate mathematical and statistical computer software packages.
- find, extract, and analyze data from varied sources.
- communicate mathematical and statistical information effectively to generate feasible results.
- demonstrate sufficient organizational skills.
M.Sc. Statistics: Top Institutes
Listed below are some of the top institutes offering M.Sc Statistics course in the country with the corresponding locations and fees charged by each.
|College Name||City||Average Fees in INR||User Rating|
|Madras Christian College, [MCC]||Chennai||17,583||8.2/10|
|Sri Venkateswara College, Delhi University||New Delhi||18,792||8.5/10|
|Ramjas College, Delhi University||Delhi||4,687||7.2/10|
|The Oxford College of Science||Bangalore||40,000||6.8/10|
|Mithibai College of Arts||Mumbai||25,833||8/10|
|Indian Institute of Technology, [IIT] Kharagpur||Kharagpur||10,200||8.5/10|
|Indian Institute of Technology, [IIT] Kanpur||Kanpur||49,035||9/10|
|Indian Institute of Technology, [IIT] Bombay||Mumbai||47,500||8.9/10|
|University of Kashmir||Srinagar||9,000||5/10|
|University of Madras||Chennai||5592||7.3/10|
|Cochin University of Science and Technology, [CUSAT]||Kochi||6639||7.4/10|
|University of Punjab||Chandigarh||17,500||7.3/10|
|Aligarh Muslim University||Aligarh||8,000||8/10|
Eligibility for M.Sc. Statistics
Candidates aspiring to pursue M.Sc. Statistics need to fulfil the below-mentioned eligibility criterion.
- Completion of B.A. (Honors)/ B.Sc.(Honors) in Statistics or Mathematics or graduation in a related discipline from a recognized institute
- Mathematics and Statistics as main subjects at the level of graduation
- Minimum aggregate score of 60% at the level of graduation
M.Sc. Statistics: Admission Process
The mode of admission to M.Sc. Statistics course may vary across institutes. Some institutes conduct their own entrance exams for selecting and admitting candidates, while some select students on the basis of the merit obtained at the level of graduation.
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M.Sc. Statistics: Syllabus and Course Description
A semester-wise breakup of the course’s syllabus is tabulated below.
|>Semester 1||Semester 2|
|Ancillary Mathematics||Inference 1|
|Measure Theory and Probability||Sample Surveys|
|Distribution Theory||Linear Models and Regression Analysis|
|Matrix Algebra and Numerical Analysis (Practical)||Inference 1 (Practical)|
|Distribution Theory (Practical)||Sample Surveys (Practical)|
|Computer Programming (Practical)||Linear Models and Regression Analysis (Practical)|
|Semester 3||Semester 4|
|Inference 2||Multivariate Analysis|
|Design of Experiments||Econometrics and Economics Statistics|
|Time Series Analysis||Environmental Studies|
|Inference 2 (Practical)|| -|
|Design of Experiments (Practical)|| -|
|Time Series Analysis (Practical)|| -|
M.Sc Statistics: Career Prospects
Some of the popular professional avenues open to successful postgraduates of the course are listed below with the corresponding salaries offered for the respective positions.
|Job Position||Job Description||Average Annual Salary in INR|
|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.||5-9 lacs|
|Statistician||Statisticians gather numerical data and then display it, helping companies to make sense of quantitative data and to spot trends and make predictions.||3-6 lacs|
|Cost Estimator||They collect and analyze data to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular industry/ product.||6-8 lacs|
|Service Estimator||An Estimator gathers proposals, blueprints, specifications, and related documents. They are responsible for identifying labor, material, and time requirements. Also, they compute costs by analyzing labor, material, and time requirements.||6-8 lacs|