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Career Information for a Degree in General Statistics

Degrees in statistics typically cover areas such as budgeting, marketing, human resources and production management. Find out about the requirements for these programs and learn about career options, job growth and salary info for statistics graduates.

In addition finding work as a statistician, a degree in general statistics can lead to careers in actuarial science or budgetary analysis. The latter two careers may only require a bachelor's degree, however budget analysts may need to complete a master's degree to find employment. For a statistician career, a bachelor's degree could be enough for entry-level work but a master's degree is generally needed in this field.

Essential Information

General statistics degree programs teach individuals how to collect, interpret, analyze and present numbers. They're available at the associate's, bachelor's, master's or doctoral degree level. Coursework in calculus, statistical math and demographics teaches students how to predict the probability of events using numerical data. Graduates may find work as actuaries, budget analysts and statisticians, among other possibilities.

Career Actuary Budget analyst Statistician
Education Requirements Bachelor's degree Bachelor's degree; master's sometimes required Bachelor's degree for entry-level positions; master's required for most
Other Requirements Certification Certified Government Financial Manager credential available Experience in a related field, such as computer science, will make a candidate more desirable
Projected Job Growth (2014-2024)* 18% 3% 34%
Median Salary (2015)* $97,070 $71,590 $80,110

Source: *U.S. Bureau of Labor Statistics

Career Options

Earning bachelor's degree in general statistics is a common route for those hoping to become a statistician, actuary, or budget analyst. In all of these fields, there are additional credentials to be earned that can help with advancement, including master's degrees and professional certifications.

Actuaries

Actuaries work for insurance companies and other businesses to determine the risk level for various situations and endeavors. Those who work for insurance companies collect data on policyholders and the public to help determine appropriate premiums and risk assessments. Actuaries who work for other businesses use statistical methodology to predict investment risks, identify the expected returns on expenditures or help determine budgetary policy.

Career Outlook and Salary Information

According to the U.S. Bureau of Labor Statistics (BLS), employment for actuaries is expected to grow 18% from 2014 through 2024, but job seekers may face increased competition in the field during that decade. The median annual salary for actuaries was $97,070 in 2015, according to the BLS.

Budget Analysts

Budget analysts are responsible for preparing and managing budgets and financial plans for corporations. They may analyze spending by collecting information, studying account records and creating new budgets based on those findings. Many employers are more apt to hire applicants with master's degrees, but those with a bachelor's degree in statistics may be able to attain entry-level positions.

Career Outlook and Salary Information

The BLS predicted that employment for budget analysts would increase by 3% from 2014-2024. The median annual salary for these workers was $71,590 as of 2015, according to the BLS.

Statisticians

A statistician is someone with a graduate degree in statistics or mathematics that may find employment in numerous industries. For example, these individuals may work in the field of information technology by preparing computational data analysis or in the health care realm as biostatisticians. According to the BLS, 33% of statisticians worked for state and federal government. Some of these professionals work in offices and labs, while others have more interpersonal roles: they use various data collection tools, ranging from surveying to polling, to learn about people's behaviors and desires within a certain experimental pool.

Career Outlook and Salary Information

Biostatisticians and their equivalent within the medical realm stand to see the greatest job prospects from 2014-2024, though the BLS reported that statisticians in general would see 34% growth. The median annual wage for these professionals was $80,110 as of 2015. Scientific and research development services were the largest employers of these professionals and paid statisticians an average of $94,820.

Along with earning bachelor's degrees, actuaries, budget analysts, and statisticians may pursue certifications or advanced degrees, which may be extremely beneficial for job seekers. The duties in these careers vary significantly, with actuaries often working in the insurance industry to evaluate risk scenarios, and budget analysts frequently overseeing the financial plans and budgets of corporations. Statisticians can work for the government, in health care, labs, or in an office, and should see as much as 34% growth in job opportunities from 2014-24.

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