Bachelor Of Statistics (B. Stat)- Scope, Fees, Eligibility, Jobs & Salary

What is Bachelor Of Statistics

Bachelor Of Statistics Admission Criteria

In India, application requirements for Bachelor of Statistics (B.Stat) programmes vary by university or institution. But most colleges and universities have a similar process for letting students in, which includes the steps below:

• Educational Qualification: Candidates must have completed their 10+2 education from a recognised board with math, economics, and business studies as mandatory subjects.
• Minimum Marks: The minimum marks required in 10+2 to be eligible for admission into B. Stat programme is 50% for general category students and 45% for SC/ST/OBC candidates.
• Age Limit: There is no specific age limit to apply for admission into the Bachelor of Statistics. However, candidates must fulfil the age criteria as specified by the respective universities or colleges.
• Entrance Exams: Some universities or colleges may conduct an entrance exam for admission into the B.Stat Some of the most common entrance exams are university-level entrance exams and state-level entrance exams.
• Merit-Based: Some universities or colleges may offer admission based on merit as well. In such cases, admission is offered based on the candidate’s performance in 10+2.

Bachelor Of Statistics Eligibility

• Educational Qualifications: Candidates must have completed their higher secondary education (10+2) from a recognised board or institution with a minimum aggregate score of 50% or an equivalent grade in any discipline. Some colleges may also require candidates to have studied mathematics, business studies, or economics at the 10+2 level.
• Age Limit: Some universities may require candidates to have completed 17 years of age on or before December 31 of the year of admission.
• Entrance Exams: Some colleges may require candidates to appear for an entrance exam to be eligible for admission. These exams may test the candidate’s aptitude, reasoning, language skills, and general knowledge. Some popular entrance exams for B.Stat in India include IPMAT, SET, NPAT, and DU JAT.

Bachelor Of Statistics Entrance Exams

Bachelor Of Statistics Fee Structure

The fee structure for B.Stat programmes in India can vary considerably depending on the type of institution or university, location, and facilities provided. Government colleges typically charge lower tuition rates than private colleges. Depending on the institution, the total expenses of a B.Stat programme can range from INR 50,000 to INR 12 lakh for the entire three-year duration.

Courses after Bachelor Of Statistics

Career Opportunities after Bachelor Of Statistics

A Bachelor of Statistics offers many public and private sector job possibilities. Here are some career opportunities in both the government and private sectors.

Careers in the Public Sector

• Statistical Officer: A statistical officer collects and analyses data and prepares statistical reports for the government. The salary for a statistical officer in India can range from 1.1 lakh to 12.0 lakh.
• Research Officer: A research officer designs, conducts, and evaluates research projects for the government. The salary for a research officer in India average yearly revenue of 4.2 Lakhs.
• Data Analyst: A data analyst works with large sets of data to extract meaningful insights that inform government decision-making. With an average contribution every year of 4.1 lakhs, data analyst salaries in India vary from 1.6 lakhs to 11.7 lakhs.
• Market Research Analyst: A market research analyst studies market trends and consumer behaviour to help the government make informed decisions about policies and programmes. The salary for a market research analyst in India is Rs. 3.3 lakh.
• Data Scientist: A data scientist creates predictive models by analysing data using statistical and machine learning methods. The salary for data scientists in India varies from 3.6 lakhs to 25.4 lakhs.
• Demographer: A demographer studies population trends and patterns and helps the government plan for the future. In India, the average gross wage for a demographer is 12,55,431, which corresponds to a 604-hourly wage.
• Environmental Scientist: An environmental scientist studies the effects of human activity on the environment using statistical methods and aids in the development of government regulations to lessen these effects. The salary for environmental scientists in India is between 1.6 lakh and 7.6 lakh.
• Social Researcher: A social researcher uses statistical methods to study social phenomena. The salary for researchers in India may vary from 1.6 lakh to 18.0 lakh.

Careers in the Private Sector

• Data Analyst: Data analysts collect, analyse, and interpret complex data sets to inform business choices. They draw conclusions using statistical methods. Data analysts in India earn between INR 300,000 and INR 900,000 per year.
• Actuarial Analyst: Actuarial analyst by analysing statistical data, actuaries control financial risks. They work in insurance, finance, and consultancy. Salary: Indian actuarial analysts earn between 600,000 and 2,000,000 per year, based on experience and education.
• Market Research Analyst: Market research analysts analyse market conditions for sales opportunities. They analyse customer preferences, market trends, and competitive analysis. Market research analysts in India earn between 300,000 and 900,000 per year.
• Business Analyst: Business analysts analyse business processes, find areas for improvement, and recommend solutions to increase efficiency and profitability. Stakeholders help them gather requirements and write technical specifications. Business analysts in India earn between 40 lakhs and 1.2 million per year, based on experience.
• Risk Analysts: Risk analyst assess and manage organisational risks. They analyse data to identify hazards, create risk mitigation solutions, and evaluate them. Risk analysts in India earn between 400,000 and 1,200,000 per year, depending on industry and experience.
• Statistical Consultant: Statistical consultants help organisations develop, collect, and analyse data. Healthcare, financial, and marketing projects are possible. Salary: Indian statistical consultants earn between 500,000 and 1,500,000 per year, based on expertise and project type.
• Data Scientist: Data scientists use statistical methodologies, machine learning algorithms, and programming skills to find patterns in huge, complicated datasets. They forecast and advise. Data scientists in India earn between 80 lakh and 2.5 million per year, based on experience and competence.
• Financial Analyst: Financial analysts analyse financial data to advise investors, budgeters, and financial planners. They examine economic, market, and company statistics. Salary: Indian financial analysts earn between 400,000 and 1,200,000 per year, based on experience and industry.
• Econometrician: Econometricians analyse and predict economic trends using statistical and mathematical models. They work in government, research, and consulting. Salary: Indian econometricians earn between 50 lakh and 1 million based on experience.
• Quality Analyst: Quality analysts verify product or service quality. They analyse data to improve quality control processes. Salary: Quality analysts in India earn between 300,000 and 900,000 per year, based on sector and experience.

Bachelor Of Statistics Scope, Salary & Employers

Bachelor of Statistics (B.Stat) is a widely known undergraduate programme in India that offers numerous opportunities in the business and management fields. Here is a summary of the B.Stat scope, salary, and employers in India:

• Scope: The Bachelor of Statistics (B.Stat) course in India may vary based on various factors such as experience, skills, location, and industry. B.Stat graduates can work as statisticians, data analysts, research analysts, data scientists, risk analysts, and consultants in government, research, financial, and private companies.
• Salary: The average salary of B.Stat graduates in India also varies depending on the sector, location, and experience. According to the Pay-scale website, the average annual salary of a statistician in India is Rs. 475,343 per year, while a data analyst earns an average of Rs. 365,365 per year.
• Employers: As for employee prospects, the job outlook for statisticians is projected to grow by 33% from 2020 to 2030, which is much faster than the average for all occupations. The increasing use of big data and the need for data-driven decisions in various industries are expected to drive this demand.

Required Skills for Bachelor Of Statistics

To excel in a Bachelor of Statistics B.Stat programme, students must possess a combination of hard and soft skills. Here are some of the essential skills required for a B.Stat:

• Good mathematical skills 
• Problem-solving abilities
• Programming skills
• Data Management
• Statistical Analysis

FAQ (Frequently Asked Questions)