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M. Stat. is a 2-year postgraduate course, the minimum eligibility for admission to which is the successful completion of graduation in a relevant discipline, from a recognized university. The course is essentially about collecting and interpreting statistics.

Social Sciences, Finance, and Econometrics are all covered as potential areas for gathering statistical data. The program involves components such as:

  • practical math, like algebra, calculus.
  • design side of statistics, like survey sampling and experiment implementation.

Admission to the course is based on the candidate’s test score, academic profile, performance in the round of interview, followed by qualification of a relevant entrance test.

The average tuition fee charged for this course in India ranges between INR 1 and 4 Lacs.

Popular organizations that hire such postgraduates include:

  • Deloitte Consulting
  • TCS Innovations Labs
  • Blue Ocean Marketing
  • BNP Paribas India
  • Neilson Company
  • Accenture
  • HP
  • GE Capital
  • Mu Sigma
  • Fractal Analytics
  • EXL
  • HDFC, etc.

They are hired in capacities such as:

  • Statisticians
  • Business Analyst
  • Mathematician
  • Professor
  • Risk Analyst
  • Data Analyst, etc.  

The average annual salary offered to such professionals in India ranges between INR 3 and 10 Lacs.

Top Colleges for Master of Statistics [M.Stat.]

  • M.Sc in Delhi-NCR
  • M.Sc in Maharashtra
  • M.Sc in Chennai
  • M.Sc in Uttar Pradesh
  • M.Sc in Telangana

M. Stat.: Course Highlights

Tabulated below are some of the major highlights of the course.

Course LevelPost Graduate
Duration2 year
Examination TypeSemester System
EligibilityGraduation in a relevant discipline, from a recognized university.
Admission ProcessBased on counselling after qualification of entrance tests
Course FeeINR 1 to 4 Lacs p.a.
Average Starting SalaryINR 3 to 10 Lacs p.a.
Top Recruiting CompaniesGenpact, TATA CONSULTANCY SERVICES LIMITED, WNS Global Services, Wipro Technologies Ltd., Tata Motors, Bharat Sanchar Nigam Limited (BSNL), National Small Industries Corporation Limited (NSIC), Heavy Engineering Corporation Limited (HEC Ltd.), etc.

M. Stat.: What is it About?

Statistics as a subject shows relevance with many other fields like:

  • Medicine
  • Natural sciences
  • Education
  • Psychology
  • Education
  • Industry, business, and government.

The main functions in an enterprise for statistical methods are as follows:

  • Planning of Operations: This may relate to either special projects or to the recurring activities of a firm over a specified period.
  • Setting up of standards: This may relate to the size of employment, volume of sales, fixation of quality norms for the manufactured product, norms for the daily output, and so forth.
  • Function of Control: This involves comparison of actual production achieved against the norm or target set earlier. In case the production has fallen short of the target, it gives remedial measures so that such a deficiency does not occur again.

In ancient times, statistics was regarded as the science of state craft and was used to collect information related to:

  • Military force,
  • Population,
  • Wealth.

But in modern times, the use of statistics is broad, and in problems related to:

  • Planning
  • Economics
  • Business
  • Management
  • Mathematics.

The discipline is related to fields such as:

  • Engineering
  • Science
  • Medicine
  • Multivariable Calculus
  • Consultancies, in analyses of people’s preferences and tendencies.
  • Marketing, in tracking customer actions on a company’s website.

Top Institutes offering M. Stat.

Some of the top institutes offering the course in the country with the corresponding locations and fees charged by the respective colleges are listed below.

Name of InstituteCity Average Fees
ISI BangaloreBangaloreINR 60,000 (course)
ISI DelhiDelhiINR 50,000 (course)
Dr. BR Ambedkar UniversityAgraINR 80,000 (course)
ISI KolkataKolkataINR 50,000 (course)
ISI ChennaiChennaiINR 55,000 (course)
ISI HyderabadHyderabadINR 60,000 (course)
ISI PunePuneINR 55,000 (course)

Eligibility for M. Stat.:

Candidates aspiring for admission to the course are required to fulfil the following minimum eligibility criteria.

  • Graduation in a relevant stream, from a recognized educational Board.
  • A minimum aggregate score of 50% (45% for SC/ST/OBC candidates) at the level of graduation.
  • Candidates appearing for their final graduation-level examination are also eligible to apply for the course on provisional basis.

M. Stat.: Admission Process

Most institutes offering the course in India admit students based on their performance in a relevant entrance test, followed by a subsequent round of counselling.The round of counselling consists of two additional rounds of Group Discussion and Personal Interview, wherein the candidate’s general aptitude for the course is examined.

Some institutes conduct their own entrance tests for offering admission. Admission process generally varies across colleges.

M. Stat.: Syllabus and Course Description

Semester I

Semester II

Linear Models and Markov ChainRegression Techniques
Large Sample Statistical MethodsMultivariate Analysis
Real AnalysisProgramming and Data Structures
Measure Theoretic ProbabilityMetric Topology and Complex Analysis
Sample Surveys and Design of ExperimentsElective Course I
Large Sample Statistical MethodsElective Course II
Applied Stochastic Processes-
Statistical Inference I-

Semester III

Semester IV

Analysis IIProbability and Stochastic Processes III
Statistical ComputingProject
Time Series AnalysisElective III
Elective IElective IV
Elective IIElective V

M. Stat.: Career Prospects

Statisticians perform duties such as:

  • solving problems in a wide variety of fields.
  • applying mathematical and statistical knowledge to social, economic problems.
  • using statistics such as computer science, government, private, statistics business, scientific, agriculture, health, private and other ones.
  • collecting and analyzing data.
  • designing experiments or surveys to collect required data.
  • applying statistical methods to practical problems in business, science and other fields.
  • writing reports and articles of their analysis.
  • presenting results to clients or authorities.

Industries that apply statistics include:

  • Business
  • Industry
  • Agriculture
  • Computer Science
  • Health Sciences
  • Finance
  • Analytics
  • Software Development
  • Actuarial Science, and such.

Employment Outlook and Salary status:

Job RoleJob DescriptionAverage Annual Salary in INR
StatisticiansA statistician is responsible for the collation, evaluation, interpretation, and presentation of quantitative data.3,68,671
Business AnalystA Business Analyst is responsible for developing solutions that can solve business problems technically. They also analyse the requirements and documentation needed for advancing sales efforts.8,62,699
MathematicianMathematicians are the professionals responsible for using formulas and models to prove and disprove theories. They use techniques for solving business and engineering-related problems.1,230,410
Risk AnalystRisk Analysts are responsible for estimating the risks financially involved in the investments and operations of an organisation. They usually work for banks and financial institutions.5,01,424
Data AnalystData Analysts are the professionals responsible for collecting data for market research, logistics, and transportations, to use that data in order to take decisions.3,49,284
Content AnalystContent Analysts are responsible for analysing the accuracy within the content, of facts and grammar.2,44,879
Statistic TrainerThese Instructors are responsible for leveraging their expertise to deliver education services to students through preparing course plans and material. Also, they deliver courses, and monitor progress/attendance. They advise students and record grades and submit reports.4,32,819
ConsultantConsultants are responsible for providing training, advice, and support to the group.831,119
BiostatisticianBiostatistician are responsible for combining Math, Science and Statistics to prevent public health problems.1,460,000

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