What Can You Do With a Statistics Degree? Best Job Options

Reviewed by Gerri Dunnigan, Ph.D.

From the obvious choice of becoming a statistician to more specialized roles like actuary or consultant, a statistics degree opens up a wide range of career possibilities.

The degree equips you with the analytical skills and deep knowledge needed in each of these roles.

All numbers tell stories. This is particularly true when you have to deal with data and results, which statistics is the language of, and it helps translate those stories. Whether it's predicting the next big market trend, understanding public health patterns, or optimizing business strategies, statistics is central to the decision-making process of practically every industry.

10 Jobs You Can Get With a Statistics Degree

From sports to finance, healthcare to tech, the ability to use statistics to analyze and interpret data is in high demand everywhere. This widespread need for such expertise often leads students to consider pursuing a degree in this field. But what can you do with a statistics degree? Let's explore the options!

Statistician

Median salary: $104,110 per year

Job outlook: 11% increase

Statisticians utilize mathematical and statistical methods to collect, analyze, and interpret data. They design surveys and experiments, apply statistical models, and identify patterns to assist organizations in making informed decisions. In addition to the general role, statisticians can specialize in various fields. Applied statisticians focus on using established statistical techniques to address practical problems. They apply these methods to real-world issues to optimize processes and systems.

Biostatisticians, on the other hand, concentrate on the health and biological sciences. They design and analyze clinical trials, contribute to drug development, and interpret public health data to support disease prevention and treatment strategies.

A statistics degree is crucial for all these roles, as it covers essential topics such as probability, statistical modeling, and data analysis. This foundation equips professionals with the skills needed to handle complex data and provide actionable insights.

Financial Analyst

Median salary: $99,010 per year

Job outlook: 9% increase

Financial analysts play a big role in evaluating investments and financial performance. They analyze financial data, market trends, and economic conditions to forecast future performance and guide investment decisions. Financial analysts use statistical tools to model financial scenarios, assess risks, and recommend investment strategies. A statistics degree is particularly valuable for this role, providing expertise in regression analysis, probability theory, and time series analysis.

Additional qualifications, such as the Chartered Financial Analyst (CFA) certification, can further enhance career prospects in this field.

Data Scientist

Median salary: $108,020 per year

Job outlook: 36% increase

Data scientists extract insights and knowledge from data using advanced statistical techniques, machine learning algorithms, and programming skills. Their goal is to observe patterns and trends within the data and use that information to drive decision-making and strategic planning. Within the data science field, one could also pursue a data analyst role. While data scientists help develop the algorithms needed to work with the data, data analysts' work is more descriptive. They explain what has already happened based on the data at hand.

A statistics degree is a good foundation for a career in data science since the training in probability, statistical modeling, and data analysis prepares individuals to handle the quantitative aspects of the role.

Actuary

Median salary: $120,000 per year

Job outlook: 22% increase

Actuaries use mathematical and statistical methods to assess the likelihood of events that could change financial markets and calculate the potential costs associated with them. They also help design insurance policies, pension plans, and other financial strategies.

A degree in statistics is an ideal starting point for a career as an actuary. However, to advance, these professionals are required to earn certification from actuarial organizations. To do so, they must sit a series of exams covering topics such as probability, financial mathematics, actuarial science, and risk management.

Operations Research Analyst

Median salary: $83,640 per year

Job outlook: 23% increase

Operations research analysts use mathematical models and analytical techniques to solve complex problems and improve decision-making processes. Their work focuses on optimizing systems and enhancing operational efficiency.

A statistics degree is highly relevant for this role, as it provides the analytical tools needed to develop and apply optimization models effectively. This background helps analysts tackle various challenges in operations and logistics.

Market Research Analysts

Median salary: $74,680 per year

Job outlook: 8% increase

Market research analysts study market conditions to evaluate potential sales of products or services. They analyze consumer behavior, market trends, and competitive data to help companies make strategic decisions.

A statistics degree offers skills in data collection, analysis, and interpretation, which are crucial for understanding market dynamics and providing actionable insights.

Economist

Median salary: $115,730 per year

Job outlook: 5% increase

Economists analyze data to understand and predict economic trends and conditions. They use statistical methods to study economic issues, develop policies, and offer recommendations based on their analyses.

A statistics degree provides a strong background in data analysis and modeling, which is essential for conducting economic research and policy analysis.

Cost Estimator

Median salary: $74,740 per year

Job outlook: 4% increase

Cost estimators analyze data to forecast the costs of production, construction, or service delivery. They use statistical models to prepare accurate cost estimates for various projects.

A statistics degree is useful for cost estimators, as it helps in developing precise cost models and forecasts. Statistical skills are also essential for analyzing data and making reliable cost predictions.

Statistical Consultant

Median salary: $99,410 per year

Job outlook: 11% increase

Statistical consultants provide expert advice on statistical methods and data analysis to clients in various industries. They tend to work on a project-by-project basis, helping organizations design studies, analyze data, and interpret results. Their work involves applying statistical techniques to solve specific problems, such as optimizing business processes, evaluating research findings, or improving product quality.

Considering that these consultants must be proficient in statistics, a statistics degree is a must. It provides the technical knowledge needed to apply statistical methods effectively and guide others in using them. Many statistical consultants pursue advanced degrees in statistics or related fields to deepen their expertise and enhance their credibility.

Database Administrator

Median salary: $101,510 per year

Job outlook: 9% increase

Database administrators (DBAs) manage and maintain databases. They work with database management systems (DBMS) to create, update, and maintain databases, aiming to optimize performance and ensure data integrity.

While a statistics degree is not the primary qualification for a DBA, it can be beneficial, especially when working with databases that involve complex data analysis and statistical modeling. A minor in statistics, for example, can help DBAs better understand the data being stored and ensure it is organized to support effective analysis.

Median Annual Salaries for Careers with a Statistics Degree

Job Outlook for Careers with a Statistics Degree

How to Get Started in a Statistics Career

To turn into a person who can transform raw data into insights that influence industries, improve public health, or predict the next big market trend, then you need to pursue a career in statistics.

The way you can start this pursuit is by:

• Exploring the field to understand what statisticians do and the various industries where statistical expertise is needed
• Taking statistics as a minor during your undergraduate studies to get a taste of the field and see if it aligns with your interests
• Majoring in statistics, if the field has captured your interest
• Looking for internships, research projects, or entry-level jobs in statistics so you can gain experience in the field
• Specializing with a master's degree in statistics or a related area
• Enhancing your credentials through certifications in areas like actuarial science or financial analysis

Choosing Your Path

Choosing from the array of available careers with a statistics degree can be both thrilling and also a bit daunting. The exciting part is the sheer variety of options, from data science to biostatistics, financial analysis, and beyond. However, the overwhelming part is deciding which path to take. The good news is that many of these roles share a common foundation in statistical skills and knowledge, which means that your choice doesn't have to be final.

For instance, if you start your career as a data analyst but later find yourself drawn to the healthcare field, you can transition into biostatistics with some additional training or education. Similarly, if you're working as a financial analyst and want to move into a more specialized area like actuarial science, you can pursue the necessary certifications to make that switch.

This flexibility is one of the major advantages of a statistics career. The skills you develop—such as data analysis, statistical modeling, and problem-solving—are highly transferable across different industries and roles. 

So, while it's important to choose a job that aligns with your current interests and goals, remember that your career path isn't set in stone. With the right mindset and a willingness to learn, you can pivot to new opportunities as your interests evolve or as new trends emerge in the field.

Conclusion

Whether you choose to make statistics a part of your broader skill set by pursuing it as a minor or decide to fully immerse yourself in the field with a Master's in Applied Statistics degree, UND provides the programs and resources you need to succeed. With the right guidance and education, you'll be equipped to turn data into powerful, world-changing insights that can shape industries and inspire progress. The numbers are waiting—let's see where your insights will lead.

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