Earning potential of a Statistician
I have become a qualified statistician recently and am curious to know about the salary that is paid by companies to a statistician.
The salary truly depends upon your educational qualification and the company or organisation that you are planning to get into. A statistics graduate from an independent college who finds employment at an IT firm, starts off with the salary of around Rs. 15,000/- to Rs. 20,000/-. As the prospects of a statistician have increased enormously in the industry thus they are in great demand and get well paid. But it is imperative that students don’t stop at graduation level as higher studies will land them in better paid jobs for sure. Whatever a B.Sc. student will be paid initially, a M.Sc. will be paid double that amount. Plus, the job opportunity increases and widens as they can consider working for the banking sector and insurance companies that give a better package then an IT firm.
If we put it in simple terms then, fresher’s starting their career as statisticians get paid in the range of Rs. 1, 50,000/- p.a. to Rs. 2,00,000/- p.a. Those having a better educational qualification will get designations like, Statistical Analyst, Statistician/Econometrician i.e. on a senior level will get pain anywhere in between Rs. 4,00,000/- p.a. to Rs. 7,00,000/- p.a. There is one more important criteria that decides your salary package and that is whether you are placed by you college or university or known as campus placements. If you are employed through campus placements then even as a fresher you might end up getting paid the same salary package as that of a senior level person.