- According to LinkedIn, proficiency in statistical analysis is the most in-demand skill. (Source)
- The field of biostatistics has among the fastest-growing jobs. In fact, there is a shortage of people with data analysis skills to work in academic and non-academic institutions. Fortune magazine ranked statistics as the top graduate degree based on salary, growth and job satisfaction. (Source)
- Those with biostatistics training have a wide variety of career fields to choose from.
- In fact, 90% of our graduates are already either in the workforce or pursuing further education in Ph.D. or in medical schools as students or residents. Among them, 75% found jobs in well-known pharmaceutical companies, academic institutions, and medical centers within 3 to 6 months of graduating with a Master of Science (MS) in Biostatistics with a starting salary of about $75 to $85K, even without having extensive job experience. They are currently working across the U.S. (California, Florida, New Jersey, Ohio, and Tennessee) and even in China.
- Our international students on student visa receive up to three years of optional practical training (OPT) due to earning an advanced degree in a STEM major. This extra time in the U.S. helps them to practice biostatistics in the job market before returning to their country of origin as competitive job seekers.
- The popularity of biostatistics is also growing on college and medical campuses across the U.S. Our biostatistics courses in the division are in high demand across different graduate programs in and outside of the department and across different schools at the University of Miami.
- Fortune magazine reported that it is one of the fastest-growing STEM majors. In recent years, the number of schools granting biostatistics and data science degrees has increased dramatically because of the big data revolution in almost every job sector. But even with this growth, it is not even enough to meet the outsize demand for people with data analytics skills (Source)
- Another reason to study biostatistics: Money! A degree in Biostatistics offers a great return on investment right after graduation. Annual salaries are strong even for new graduates. According to the Bureau of Labor Statistics (BLS) year 2017 report, the median annual salaries of all statisticians is $84,760. In May 2017, the median annual wage for all workers was $37,690. The lowest 10% earned less than $50,660, and the highest 10% earned more than $133,720.
- Statistics jobs are growing much faster than the average. Overall, employment of statisticians is projected to grow 33% from 2016 to 2026, which is much faster than the average of all occupations. Businesses will need statisticians to analyze the increasing volume of digital and electronic data.
- If you do not want to be a career biostatistician, you will still benefit greatly from having an MS in Biostatistics, regardless of your career path. That is because there are more and more career fields that need workers who are statistically literate, especially in our growing data-driven economies, such as medicine and healthcare, data science, communications and public relations, government and public policy, journalism, marketing, business, and finance.
- Since May 2017, the median annual wages for statisticians in the top industries in which they worked for were as follows: (Source)
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Federal government
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$103,630
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Research and development in the physical, engineering, and life sciences
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91,610
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Healthcare and social assistance
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79,150
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Insurance carriers and related activities
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77,860
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Colleges, universities, and professional schools; state, local, and private
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70,780
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