StatisticianStatisticians salary statistic
Statistician’s Salary Report
A statistician conducts their work using applied or theoretical statistics. When working in various positions for public and private sectors, they are tasked to combine their skills in their field of study with their current field of employment in order to take on the role of statistical consultants.
Statisticians can work on other areas, allowing them to hold titles such as applied mathematicians, financial analysts, actuaries, economists, sociologist, psychometricians, and many more. Most positions in the United States require statisticians to hold a master’s degree in statistics or a related area of study. They can also acquire a PhD for added research capabilities.
This occupation involves working on numerical and mathematical models, calculating outcomes using information collected through surveys and research, as well as using tools developed by other statisticians. Basically, a statistician works with numbers in order to analyze past data, work on current data, and predict outcomes for future data.
Common Duties and Daily Tasks
Statisticians are usually tasked to collaborate with researchers or scientists. Their duties include working on mathematical models or simulation, designing experiments and sampling plans, analysis of test results and survey answers, or forecasting numerical or financial events like revenues and company share prices.
As a statistical consultant, they can provide companies, researchers, and scientists advice on how to model their methodologies to streamline design studies, data collection, data analysis, and presentation of findings. They are also tasked to plot data, develop new measuring instruments, maximize existing instruments, determine sample sizes for experiments, and computing results from high-density data experiments.
Apart from that, such specialists can manage research programs by assigning which data are needed to solve specific problems. They will also choose the method of collection. They can also be the ones who design the surveys and experiments. With a higher degree of education, statisticians can also teach others under their supervision to assist in collecting data.
Before a statistician can be considered for employment, they need to have at least a master’s degree in statistics, mathematics, or other field with statistics as a major field of study. For entry-level statistician occupation, job seekers do not need to have a master’s degree. However, if they want to get promoted, they must continue their studies to increase a salary for statistician.
For research and academic positions, they need to acquire a PhD before they can participate. Otherwise, they can only work on an assistive capacity and may be taken out of the research author list for lack of qualifications.
Before attaining a master’s degree, statisticians can major in an undergraduate course like mathematics, physics, computer science, or engineering. It would be better if a college offers a major in statistics as the basis for their undergraduate studies. Other undergraduate degrees that qualify for advanced statistical studies include health science, biology, chemistry, and physics.
A statistician salary can range from $68,970 per annum to $99,300 from a basic standpoint. This does not include grant allowances from private and public sectors. The median annual salary of a statistician is $80,110. This was in May 2015. The lowest income-earners from this group can earn less than $44,900, while the highest earners can earn as much as $130,630.
Statistician salaries may also vary based on the industries they are working in. The lowest earning sector is the academic field, where a statistician can as much as $68,970. The next bracket covers management positions, scientific areas of business, and consultation services, which has an average salary of statistician of $76,450.
Insurance and finance companies can pay statisticians up to $79,190, while scientific research and development companies can pay up to $89,490. The highest-paying mainstream industry is under the federal government, with a median annual wage of $99,300.