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Statistics Degree
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My son (11th grade) shared with me the other day he would like to get a degree is statistics. I was kind of surprised, I had always envisioned him as some type of engineer. I guess I am OK with him going with statistics but would like to hear from folks who have statistics degree.

How tough was it getting a job in statistics?
What types of jobs were you able to get with statistics?
Would you recommend it to a young person?
Any particular colleges we should be looking at? (we live in Arkansas)?
Any other semi related degrees he may want to consider?
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Re: Statistics Degree [hazben] [ In reply to ]
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I'm an engineer but work with a lot of statistics folks and do a fair bit of data science myself.

I think it would be fairly easy to get a job as most become data scientists - which is a hot commodity and will continue to be a for a long time to come.

As data scientists, you do a fair bit of programming and can apply your knowledge in fields like big data, machine learning, data mining, etc. I think it's a good choice for a young person to consider. Lots of interesting things happening in the field right now and in the near future.
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Re: Statistics Degree [hazben] [ In reply to ]
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Actuarial work is HOT and will continue to be so. Think healthcare/health insurance industry for starters. I recruit engineers for the chemical industry. Many of my clients want engineers with a strong statistical background. Six Sigma itself is a statistical system. I also see Quality Engineer and Manager professionals with a Stats background.
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Re: Statistics Degree [hazben] [ In reply to ]
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My uncle was a statistician, turned down a place at cambridge to go to Bristol, he was a straight a student at a time when A's ment something

He went in to academia, he spent only a couple of years in the private sector but he worked with engineering firms, manufacturing, telecoms, developing teaching techniques for GIS in the mid 00's

He had no interest in making cash but he chose to do consultancy with his year in industry students in a broad range of fields

If your son is smart enough to pursue mathmatics / statistics through undergrad successfully almost any field that requires high degrees of numeracy are open to him, be it academia, supporting engineering analysis, financial analysis

Its interesting that my uncle pursued a number of mathmatic masters whilst he worked because he was interested, he also was able to write code. I think if a person naturally gravitates to these fields they can pick up parallel skills more easily than someone who struggles with them
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Re: Statistics Degree [hazben] [ In reply to ]
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Agree with others - Bigly data is huge. I'm friends with a few math profs and I've noticed when they talk about new professors they've hired or are looking to hire, it is usually in stats. He might want to consider a minor in CS with major in stats or vice versa.
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Re: Statistics Degree [hazben] [ In reply to ]
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Three main paths from a stats undergrad:

1. Stats postgrad leading to academic work
2. Actuarial degree. Good money and job prospects.
3. Engineering / Computer firms need stats people to help with modeling and analysis - though typically these careers are limited in advancement opportunities.

Remember - It's important to be comfortable in your own skin... because it turns out society frowns on wearing other people's
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Re: Statistics Degree [hazben] [ In reply to ]
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My daughter has just graduated with an actuarial degree. There is lots of well paid work out there for qualified actuaries. Note that once you finish uni you still have to pass the certification exams.

I took my son to a university open day a month ago. The Mathematics professor highly recommended Statistics as he predicts a huge growth in data analytics.
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Re: Statistics Degree [hazben] [ In reply to ]
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They are in demand. If he wants to get a PhD, he'll be able to get a job wherever he wants.
Super smart choice.
Semi-related degrees: either double major in math, or minor in math.
my qualifications to answer this - I'm a PhD in math and was on the job market last year. Everyone wants statisticians.

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If you're injured and need some sympathy, PM me and I'm very happy to write back.
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Re: Statistics Degree [Guffaw] [ In reply to ]
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Guffaw wrote:
Three main paths from a stats undergrad:

1. Stats postgrad leading to academic work
2. Actuarial degree. Good money and job prospects.
3. Engineering / Computer firms need stats people to help with modeling and analysis - though typically these careers are limited in advancement opportunities.


4 Give up serfdom and work in derivative trading. All our quant nerds make good money and the really good ones make stupid money. Quant trading and quant risk management are huge and growing. Some of them have PhDs in something mathy but pretty much it's all statistics. If he has anything resembling a personality and understands the bare minimum about social cues he'll go far, and if he understands markets too, he'll crush it.

Side note if he goes to U of A encourage him to bang the chicks there early and often. It's not Ole Miss, but it ain't bad at all.

ETA have him learn coding and/or computer science too
Last edited by: windywave: Oct 19, 17 19:24
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Re: Statistics Degree [hazben] [ In reply to ]
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I have several folks on my team with a degree in statistics. Data science is a good career. I pay the guys who have solid IT skills combined with the statistical background more. The experienced IT guys with any degree in something 'quantitative' generally make more than the pure modeling guys mainly because you can hire smart math guys right out of college whereas solid IT skills take more experience.

If they aren't into data management then you might consider becoming an actuary. My nephew recently graduated and he immediately got a decent paying job. Keep in mind though if you are an actuary there are many years of tests after you get your degree and the more you pass the more money you generally make.

----
Don't hold back
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Re: Statistics Degree [hazben] [ In reply to ]
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~Brad
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Re: Statistics Degree [hazben] [ In reply to ]
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Actuary. Actuary, And Actuary.
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Re: Statistics Degree [DJRed] [ In reply to ]
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DJRed wrote:
Actuary. Actuary, And Actuary.

LOL. I have an Applied Mathematics degree and an MBA, my sister has a Masters in Statistics. For 30 years I've given her shit for have a "Liberal Arts Math Degree" and for 30 years she's given me shit because she makes more money as an actuary than I do as an engineer.

If you are OK with using numbers to guess the right answer then statistics is the way to go.

"...the street finds its own uses for things"
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Re: Statistics Degree [hazben] [ In reply to ]
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Just to echo what others are saying. It will be no problem finding a job.

Lots of interesting things out there with big data and in places you might not consider it. Know one fellow with a stats. degree that was offered a job with a Major League Baseball team - think Beane Ball.

If he has the grades and scores, Carnegie Mellon is hard to beat. In addition I believe they have a 1 year MS program for Stats that positions their students incredibly well.
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Re: Statistics Degree [hazben] [ In reply to ]
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I have a friend who has a masters degree in statistics. From what i can tell he helps research doctors put together cancer studies. He travels a lot to conferences, publishes papers and is well regarded in the medical industry.

If he wants to get into the insurance industry there is a high demand for actuaries, which is all statistics. If he wants to get into finance, if he got a finance minor/major as well, he would be extremely marketable.

He better be very good at math and problem solving. I consider myself about average in math and I struggled with stats.
Last edited by: AndysStrongAle: Oct 20, 17 7:18
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Re: Statistics Degree [hazben] [ In reply to ]
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I find it amazing how many people with random BS degrees go on to get a masters in Stats before going on to a PhD in their selected field. Stats is used everywhere. Go check a job board and search for Data Mining, no shortage of jobs.

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Re: Statistics Degree [MTBSully] [ In reply to ]
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MTBSully wrote:
I find it amazing how many people with random BS degrees go on to get a masters in Stats before going on to a PhD in their selected field. Stats is used everywhere. Go check a job board and search for Data Mining, no shortage of jobs.

Reminds me of a girl in college saying "Why do I need to take a statistics class? I'm majoring in business marketing". She was actually pretty smart too.
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Re: Statistics Degree [AndysStrongAle] [ In reply to ]
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I think every Biology PhD has a Stats masters.

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Re: Statistics Degree [Andrewmc] [ In reply to ]
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I took a stats course once and found it about as exciting as watching paint dry on the wall. Excuse my ignorance, but what exactly do people with stats degrees actually do in their jobs?
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Re: Statistics Degree [cerveloguy] [ In reply to ]
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I took a stats course once and found it about as exciting as watching paint dry on the wall. Excuse my ignorance, but what exactly do people with stats degrees actually do in their jobs?

They use statistics to calculate how long the paint will take to dry.



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Re: Statistics Degree [cerveloguy] [ In reply to ]
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https://en.m.wikipedia.org/...The_Lady_Tasting_Tea

This is a great non stats book on the history of stats

What do statisticians do - or what parts of life do they have no impact on? I am guessing very few

Medicine - designing and analysing clinical trials, clinical outcomes, physician performance, clinical guidelines

Manufacturing - almost every aspect of precision manufacturing requires an unserstanding of variation and its significance

Finance - if you understand mathmatics and can code the financial worlds your oyster

I would say you have to find data interesting but if you do..........lots of opportunities
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Re: Statistics Degree [cerveloguy] [ In reply to ]
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Quote:
I took a stats course once and found it about as exciting as watching paint dry on the wall. Excuse my ignorance, but what exactly do people with stats degrees actually do in their jobs?

Make R and other programs crunch numbers for them. :-)

maybe she's born with it, maybe it's chlorine
If you're injured and need some sympathy, PM me and I'm very happy to write back.
disclaimer: PhD not MD
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Re: Statistics Degree [cerveloguy] [ In reply to ]
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cerveloguy wrote:
I took a stats course once and found it about as exciting as watching paint dry on the wall. Excuse my ignorance, but what exactly do people with stats degrees actually do in their jobs?

In derivatives they print money
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Re: Statistics Degree [windywave] [ In reply to ]
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windywave wrote:
Guffaw wrote:
Three main paths from a stats undergrad:

1. Stats postgrad leading to academic work
2. Actuarial degree. Good money and job prospects.
3. Engineering / Computer firms need stats people to help with modeling and analysis - though typically these careers are limited in advancement opportunities.


4 Give up serfdom and work in derivative trading. All our quant nerds make good money and the really good ones make stupid money. Quant trading and quant risk management are huge and growing. Some of them have PhDs in something mathy but pretty much it's all statistics. If he has anything resembling a personality and understands the bare minimum about social cues he'll go far, and if he understands markets too, he'll crush it.

Side note if he goes to U of A encourage him to bang the chicks there early and often. It's not Ole Miss, but it ain't bad at all.

ETA have him learn coding and/or computer science too

♤♤♤ This!

There are so many applications for a statistician but combined with coding he could do really well in the finance business, either in trading or research.
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Re: Statistics Degree [Kay Serrar] [ In reply to ]
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Hey folks thanks for the feedback. After reading the responses I feel better about his initial plan. My concern is I don't want him to be one of those that leaves college $70,000 in dept. Then has to settles for a job making $30,000 a year with little chance of advancement. Based on what I read here I think his interests and personality would lend itself well to an actuary. (I had to look up actuary to know what they did). This weekend when he was doing sumo wrestling with the suit on when he was holding some kid down he would lecture them on how to solve different math problems.
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Re: Statistics Degree [hazben] [ In reply to ]
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As a total aside if he wants a free education but taught in english at a good university and he is open minded he could look at europe where plenty of universities are now encouraging overseas students to attend and funding them
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