Last Updated: May 13, 2021
Studying Mathematics and Statistics in the US
Statistics is offered as a distinguished course in Mathematics departments across universities and colleges. The course has its relevance in almost every field imaginable including biology, chemistry, engineering, economics, psychology, etc., and is hence considered as important a course as ever due to the immense career opportunities one can find. It is based on the theory of probability
A major in mathematics, focusing on statistics, augmented by a minor in computer science and by courses in accounting, economics, general business, finance, or industrial engineering, for example, would provide a solid basis for a business career.
A mathematics major who wishes to prepare for a career in a government agency, such as the National Security Agency or the Department of Defense, or in a technically related or service-oriented industry would do well to focus on statistics and applied mathematics and to complete a minor in computer science.
Benefits of Studying Mathematics and Statistics
The study of Statistics within the discipline of Mathematics helps students in learning about the skill of collecting data, understanding them, and organizing them as is necessary for their purpose. Statistics is a foundational subject in the study of disciplines like psychology, sociology, business, and other social sciences. The subject is also a part of courses in the medical sciences and is a major part of any systemic research that is conducted.
Data is available in plenty through the advent of the internet and this increase in the availability of data has made it important to have people who can decipher the data into informative based on quantitative reasoning. The importance of Statisticians in research done in every discipline is undeniable which provides them with career opportunities and also lets them take up research in other disciplines due to their stronghold in Statistics. Understanding Statistics is often a prerequisite for most courses if the student is aiming to complete their Master’s Program and Doctoral Program.
They can attain job opportunities from fields ranging from business to academia and from labs to pharmaceuticals. They can also, with proper training, be part of building market strategies in business and manage investment portfolios in finance with their knowledge in Statistics. Statisticians are those people who will have no trouble in finding well-paying jobs after even their degree as long as they remain diligent in their profession. They can also easily earn six-figure salaries according to the knowledge they possess in the field.
Undergraduate Programs in Mathematics and Statistics
Students planning to study Mathematics and Statistics can either choose to take a Major in Mathematics while specializing in Statistics or take a Minor in Mathematics with a specialization in Statistics. There are also universities that colleges that offer a BA course in Statistics through the Department of Mathematics which will focus entirely on the subject giving due importance to Mathematics.
They will have the option of taking either BS or BA in Mathematics and Statistics with the difference between both courses being that BS offers students more exposure in the field of Science with heavy mathematical coursework and BA is part of Liberal Arts often taken by students who wish to take up a career right after their degree. The job market does not essentially differentiate between the two courses and it can be said with certainty that both courses will offer the student enough opportunity to reach their dream job.
Course Requirements for BS/BA in Mathematics and Statistics
The common courses that are taught to students while doing their Mathematics and Statistics course are-
- Linear Algebra
- Analytic Geometry and Trigonometry
- Mathematics and the Modern World
- Applied/ Multidimensional Calculus
- Business Calculus
- Mathematical Statistics
- Math for Computing
- Statistical Concepts
- Elementary Statistics
Graduate Programs in Mathematics and Statistics
Students who are interested in specializing their knowledge in statistics to one of the fields they have learned in their undergraduate degree can take up a Master’s degree in the subject. The course takes a full two years to be completed and will have important subjects like linear algebra, calculus, etc. continuing from the undergraduate course. Students will be able to choose between a thesis program and a non-thesis program according to whether the program is an MS or MA program respectively which will help them either move on to a career or take up research eventually.
The different courses that students can take are Mathematical Statistics and Mathematics and Statistics programs which will both have different courses to study from.
Courses in Mathematical Statistics
Mathematical Statistics is a division of the field of Statistics that combines Mathematics and Statistics. The courses typically found for Master’s in Mathematical Statistics are-
- Probability Distributions
- Statistical Inference
- Regression
- Non-Parametric Statistics
- Linear Algebra
Courses for Master’s in Mathematics and Statistics
The Master’s program in Mathematics and Statistics can be taken as an individual course without any concentrations or with concentration in Bioinformatics, Statistics, Biostatistics, Scientific Computing, etc. If the student takes a concentration in Statistics, they will have courses like-
- Probability and Statistics
- Linear Algebra
- Mathematical Statistics
- Regression Analysis
- Variance
- Numerical Algebra
Doctoral Programs in Mathematics and Statistics
The Doctoral Program in Mathematics and Statistics takes the course of education one step higher with the student expected to provide an original contribution of their own during their research. They will have to complete their core coursework in the field of Statistics along with a major course like Probability and then move on to taking their examination for the coursework. After clearing this, they will be able to work on their thesis starting with a proposal that has to be approved by an internal examiner and an external examiner after an Oral Examination where the student will have to defend their work.
Students will be able to take their Ph.D. in Mathematics with a specialization in Statistics, Mathematics, Finance, Applied Mathematics, etc. But if they take it with Statistics, they will have to complete courses like the following in their core coursework.
- Mathematical Statistics
- Regression
- Probability
- Decision Theory
- Stochastic Processes
- Biostatistics
- Non-Parametric Statistical Inference
Top Universities for Statistics
The top universities to study Statistics according to US News are -
- Williams College
- High Point University
- Harvard University
- Amherst College
- Columbia University
- Calvin University
- Dordt University
- Xavier University
- Bryant University
- Florida Southern College
Certification Courses in Mathematics and Statistics
Students who wish to pursue high education might be required to have become qualified at a particular level in Mathematics and Statistics as a prerequisite for many courses. In order to gain this qualification, a lot of places offer certification courses in different Mathematics and Statistics related courses. Students will also be able to receive Graduate Certifications from universities upon doing similar courses. The common courses offered in Mathematics and Statistics are-
- Data Analytics Certificate
- Statistics Certificate
- Mathematics
- Applied Statistics and Mathematics
- Actuarial Science and Financial Engineering
Career Opportunities after Studying Statistics
Candidates who have completed their education in Statistics will be able to find career opportunities in various fields due to the vastness of the course. They will not have to seek out high-paying jobs since most of the jobs offered for people in the field are high. It is also a field that does not seem to dry out over time. On the contrary, due to the increase in data creation and consumption, it has become necessary to possess knowledge in statistics and the people who are knowledgeable in the field are valued most of all. The few jobs that people can apply for are-
- Statistician- They have to apply theoretical models in statistics on real-world problems and will have to collect the data necessary for this purpose all the while generating comprehendible knowledge from the same and using it to make better decisions in business.
Median Salary: $93,290
- Mathematician- While Statisticians gather statistical data, Mathematicians have to gather mathematical data and correlate them with other evidence to form mathematical techniques that can solve business problems and aid in better decision-making skills for businesses.
Median Salary: $93,290
- Big Data Analyst- They have the duty of studying the business market by gathering, observing, understanding, and explaining the data available and basing future decisions based on them. They will have to research the data they have carefully collected and then work on them. The job mostly has a theoretical framework along with the application of these theories into real life.
Median Salary: $79,527
- Actuary- They use Mathematics, Statistics, and other Financial Theory to estimate the financial drawbacks of risks and uncertainty. Their job is to minimize the cost of the risks that companies take. This is an exceptionally important job in insurance companies and hence
Median Salary: $111,030
- Claims Adjuster- They evaluate insurance claims for insurance companies in order to determine who is liable. This job also includes verifying insurance claims by going through police reports, reviewing witnesses, and finding other evidence relating to the episode.
Median Salary: $68,130
- Logistics Specialist- They have to deal with shipment deliveries and other preparation of goods. They also have to keep track of schedules relating to transactions, inventory records and manage maintenance programs.
Median Salary: $76,270
- Budget Analyst- They have to deal with the rejection and approval of budget proposals by weighing the pros and cons of each budget plan. They have to also keep track of fund requests and often defend the proposals that work in favor of the job market and contribute to the final budget proposed and reach an agreement with the management regarding the same.
Median Salary: $78,970