Statistics

Students with a thirst for dealing with numbers often find themselves majoring in statistics. According to the University of Purdue, statistics is “the mathematical and computational study of data and chance.” Statisticians apply math principles to statistical problems; more specifically, they model and analyze empirical data. They’re familiar with probability theory and how it relates to modern statistical theory. The development of computation skills by students in the program is necessary so they can effectively store and study the numerical information with which they work. A major in statistics commonly includes courses that relate to probability, applied regression models, computing, survey sampling and nonparametric statistics. Of course, math classes like algebra and calculus are a must.

Employment openings in fields that focus on math and science usually exceed the amount of graduates holding those majors. That’s because few students are up for the challenge of processing such complex information. The result is more competition to hire qualified graduates and higher average pay. Statisticians can find work at financial service, insurance, pharmaceutical and health care companies. Some may work for marketing firms to analyze ad campaigns; others may work for the government to analyze census data. According to the Bureau of Labor Statistic, additional jobs in statistics are forthcoming; the field is expected to grow by 13 percent through 2018. The median yearly salary for statisticians is $72,610. The top 10 percent of earners average more than $117,190 per year.