Careers with a masters in statistics

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Discussion Overview

The discussion centers around career opportunities for individuals pursuing a master's degree in statistics, with a particular focus on enhancing employability and exploring various industries, including finance, market research, and pharmaceuticals. Participants share advice on internships and necessary skills.

Discussion Character

  • Exploratory
  • Technical explanation
  • Debate/contested
  • Homework-related

Main Points Raised

  • One participant expresses a desire to improve employability before starting graduate school, specifically mentioning the importance of programming languages like R and SQL for a career in finance.
  • Another participant suggests looking into internship programs at major audit firms, emphasizing that any internship experience can be beneficial for future job applications.
  • Some participants argue against limiting career options to finance, highlighting that a master's in statistics can lead to various well-paying opportunities in different fields.
  • There is a consensus on the value of internships, with suggestions to seek positions that utilize statistical software such as SQL, SAS, or other statistical packages.
  • Participants recommend considering internships in market research, big data, insurance, and pharmaceutical sectors, noting that skills gained in one area can be transferable to others.
  • There is agreement on the necessity of acquiring programming skills, particularly in SAS, R, or SQL, to enhance job prospects.

Areas of Agreement / Disagreement

Participants generally agree on the importance of internships and acquiring programming skills. However, there is a debate regarding the focus on the finance industry versus exploring a broader range of career opportunities available to statisticians.

Contextual Notes

Participants express varying opinions on the industries to consider and the types of skills to prioritize, indicating a lack of consensus on a singular career path or approach.

Who May Find This Useful

Individuals pursuing a master's degree in statistics, those interested in enhancing their employability in various industries, and students seeking internship opportunities in related fields.

bonfire09
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I will be attending a graduate school (masters program) in fall not sure where I will be accepted. I was wondering in the meantime what could I do to become more employable. I've been reading and it says that knowing certain types of programming languages is necessary such as R and sql. I really want to work in the finance industry and that's what I would like to focus on. Since I have the summer off I'd like to get to a head start. Basically what should I start doing?
 
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If I were you I would have a look at internship programmes in the big 4 audit firms. See if anything they do interest you. Even if what you do as a intern isn't directly relevant to what you think you will be doing, just having an internship on your CV demonstrate that you got some experience outside schools. You also get to know people in the companies that can help you with future job applications.
 
Why restrict yourself to finance? With a masters in stats, there's lots of interesting, well paying work out there.

Agree about the internship. Try anywhere you'd get to use sql, sas, or other statistical package.
 
I agree with the other posters about pursuing internship opportunities related to statistics. Also don't restrict yourself to the finance industry, but also consider internships to market research firms or any firms specializing in "big data", insurance companies, pharma companies or contract research organizations (CROs) specializing in providing services to the pharma sector -- all of these fields hire masters level statisticians, and the skills you acquire in one can be transferable to these other companies as well.

I would also agree about the need to pick up some programming skills in SAS, R, or SQL (especially SAS or R).
 

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