Considering a career in statistics? This is a field that many are turning to right now and this is for a few reasons. There are many perks to a career in statistics and similar fields, but like any job, there are also drawbacks and a few challenges to be aware of. It is important for anyone entering a field such as this to be aware of the main benefits and drawbacks so that they can make the right decision and be prepared for whatever comes their way. So, if you are planning on embarking on a career in statistics, keep reading to learn more.
It Has One Of The Best Job Outlooks
One of the main reasons that so many people are looking to careers in statistics is that it has one of the best job outlooks in the country. According to the U.S Bureau of National Statistics, employment of statisticians is projected to grow by as much as 33% from 2020 to 2030 which is much faster than the average. This means that it should not be too challenging to find work as a statistician and you will benefit from great job security.
You Can Work In Many Fields
One of the main reasons that statistics has one of the best job outlooks is the fact that you can find work in so many different fields. With the advancement of Big Data, organizations across the board can benefit from employing statisticians that are able to use data to solve problems and improve the performance of an organization. A statistician could find work in business, healthcare, politics, education or even in sports. This gives people the chance to find rewarding work in a field that they are interested in and make a difference.
You Get To Make A Difference
Leading on from this, you also get to make a difference with a career in statistics. You will be using your technical knowledge to solve problems, which can be highly rewarding and allows you to make a difference. Having job satisfaction is one of the most important factors that can have a huge bearing on your overall happiness, so this is a key advantage of a career as a statistician.
It Is Lucrative
As statisticians can play such a key role in business success and require a lot of training, you will find that this can be a lucrative career field. In 2019, statisticians made a median average salary of $91,160 with the best-paid 25% earning $118,790. This is likely to increase as the demand for statisticians increase in the coming years, so it can certainly provide a comfortable lifestyle and this is one of the major perks of the job.
You Need Strong Written & Verbal Communication Skills
People might imagine that statisticians spend all of their time in front of a computer, but actually, this is a role that requires a lot of communication and you need to possess strong written and verbal communication skills in order to find success. As a statistician, you will need to be able to listen to others and understand business problems, present your ideas to those that do not have a strong grasp of statistics and work as part of a team. Some people are better communicators than others, but there are always ways to improve if this is an area that you are worried about.
You Can Develop Technical Skills With A Masters Degree
Obviously, technical skills are essential when it comes to statistics. Advanced education is key for those that want to find success in applied statistics/data science and a masters degree will develop the technical skills that are needed to excel in this field. It is important to note that although statisticians and data scientists are similar roles and work in the same teams, there is a difference between the two, with statisticians working out how to collect data and quantify uncertainty while data scientists often make predictions within large fields of data.
Work Is Often Flexible
It will depend on your employer but work as a statistician tends to be flexible. This means that there is often flexibility with the hours that you work and home working and career breaks are usually possible. Your work will largely be office-based, but you may have to travel for meetings, presentations and conferences.
It Is Demanding
It is also important to note that although flexible, the work is demanding. Statisticians play a key role in forming business strategy and will be tasked with solving important problems, which means that there is a lot of pressure and the work can be demanding. This means that you may have to work longer hours and/or take work home with you as well as be able to work to tight deadlines and in a high-pressure environment. As you are working with large sets of data, you will also find that attention to detail is critical and you need to be able to fully focus for long periods.
It Is Interesting & Varied
Another benefit of a career in statistics is that it is interesting work and varied. The projects that you are assigned can be very interesting and no two days are the same, plus you will be solving problems each day and this means that you are continuously learning and developing your abilities.
These are the main things to be aware of with a career in statistics. While it is not for everyone, you will find that there are many perks in the role and there is a reason why it is one of the most sought-after positions right now. Statisticians can play a major part in helping organizations in various industries to make better decisions, overcome challenges and improve. This makes the work incredibly rewarding, but you will also find that it allows you the chance to work in many areas and earn a healthy salary. It can take some time to develop the skills and knowledge required, but it is a smart career choice for anyone with an interest in math and statistics.
James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. He is also an avid reader, who can while away hours reading and knowing about the latest gadgets and tech, whilst offering views and opinions on these topics.