Types of Degrees Business Statistics Majors Are Getting
The following table lists how many business statistics graduations there were in 2019-2020 for each degree level.
|Education Level||Number of Grads|
What Business Statistics Majors Need to Know
In an O*NET survey, business statistics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.
Knowledge Areas for Business Statistics Majors
Business Statistics majors often go into careers in which the following knowledge areas are important:
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Skills for Business Statistics Majors
When studying business statistics, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:
- Speaking - Talking to others to convey information effectively.
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Mathematics - Using mathematics to solve problems.
Abilities for Business Statistics Majors
As a business statistics major, you will find yourself needing the following abilities:
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Written Expression - The ability to communicate information and ideas in writing so others will understand.
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
What Can You Do With a Business Statistics Major?
People with a business statistics degree often go into the following careers:
|Job Title||Job Growth Rate||Median Salary|
Who Is Getting a Bachelor’s Degree in Business Statistics?
At the countrywide level, the racial-ethnic distribution of business statistics majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||22|
|Hispanic or Latino||37|
Americans aren’t the only ones with an interest in Business Statistics. About 20.7% of those with this major are international students.
How Much Do Business Statistics Majors Make?
Salaries According to BLS
Business Statistics majors often go into careers where salaries can range from $63,240 to $92,600 (25th to 75th percentile). This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.
To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.
Amount of Education Required for Careers Related to Business Statistics
Some careers associated with business statistics require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.
Find out what the typical degree level is for business statistics careers below.
|Education Level||Percentage of Workers|
|Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.||1.2%|
|Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.||0.9%|
|First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.||0.2%|
Online Business Statistics Programs
In the 2019-2020 academic year, 89 schools offered some type of business statistics program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.
|Degree Level||Colleges Offering Programs||Colleges Offering Online Classes|
|Certificate (Less Than 1 Year)||0||0|
|Certificate (1-2 years)||3||0|
|Certificate (2-4 Years)||0||0|
|Doctor’s Degree (Research)||0||0|
|Doctor’s Degree (Professional Practice)||0||0|
|Doctor’s Degree (Other)||0||0|
Is a Degree in Business Statistics Worth It?
The median salary for a business statistics grad is $87,140 per year. This is based on the weighted average of the most common careers associated with the major.
This is 118% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $944,800 after 20 years!
Explore Major by State
District of Columbia
Majors Related to Business Statistics
You may also be interested in one of the following majors related to business statistics.
|Major||Number of Grads|
|Other Management Sciences and Quantitative Methods||11,382|
*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
- Image Credit: By в±® under License
More about our data sources and methodologies.
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