Statistics Degree Overview

Statistics programs teach students to apply mathematical models to data sets and extract analytical insights to estimate potential outcomes. Schools sometimes offer similar programs under the name "quantitative methods." In either case, the field transfers well to careers in accounting and business analytics, which deal heavily with quantitative data.

A statistics degree can be a strong alternative to an accounting specialization. Some accounting concentrations, such as auditing, guide students toward specific careers. If you want to build a specialization but are unsure which career path to follow, consider a versatile statistics degree and explore the sections below to learn more.

What Is Statistics?

While people often categorize statistics as a branch of mathematics, more nuanced views consider the field a unique and distinct subject built on applied probability theory. Statistics degrees focus on specialized methods for analyzing data and using applied mathematics to obtain targeted insights from raw numbers.

Schools offer statistics programs at all levels, from pre- and post-degree certificates to undergraduate and graduate degrees. Your career options depend on factors like your education level and whether you combine your statistics studies with higher education in other fields. However, statistics generally transfers well to fields like:

• Accounting
• Business analytics
• Computer science
• Data science

The advanced and specialized quantitative analysis techniques statistics programs teach have valuable applications in these and other areas. However, statistics programs do not cover accounting methods or professional practices. If you want to enter an accounting career, you will need to acquire these skills through additional education, experience, or both.

What Skills Do Statistics Programs Teach?

These programs typically combine mathematics courses with classes in statistical methods and theory, as well as their applications. Mathematics coursework typically covers the following:

• Calculus
• Linear algebra
• Probability

Your program's core statistics courses may cover such topics as:

• Statistics theory, methods, and applications
• Statistical reasoning and modeling
• Linear regression and time series analysis

Classes and specific topics vary by degree level. Undergraduate certificate programs typically take broad, survey-style approaches to academic content. Coursework becomes increasingly detailed and specialized as you advance through undergraduate and graduate degree programs.

What Are the Types of Statistics Degrees?

Your statistics degree options include:

• Pre- or post-degree certificate or diploma programs
• Undergraduate (associate and bachelor's) degrees
• Graduate (master's and doctoral) degrees

You can pursue a general statistics program or a specialization. Concentrations typically become available at the undergraduate level and include:

• Applied statistics, which focuses on the many real-world uses for statistics in problem-solving
• Business statistics and data science, which concentrate on targeted technical specializations
• Mathematical statistics, which emphasizes theory and analytical techniques

The subsections below explore various learning pathways in greater detail.

Certificate in Statistics

Schools offer two primary types of certificate programs in statistics: pre-degree programs for undergraduate learners and post-degree programs for college graduates. In both cases, curricula usually cover 12-15 semester credits or the equivalent. However, some schools offer certificate programs that approach or exceed 30 credits.

Courses depart significantly from what you would find in an accounting certificate program. Assignments typically focus on statistical mathematics and quantitative analysis. If you wish to pursue an accounting career, a statistics certificate usually functions best in conjunction with an accounting diploma or degree.

Associate in Statistics

Associate degrees in statistics usually cover two academic years or the equivalent of about 60 semester credits. Coursework typically covers algebra, calculus, and mathematical techniques for arranging and analyzing statistical data.

These topics have applications in accounting but do not explore specific accounting practices. As such, an associate degree in statistics may help you qualify for entry-level accounting jobs, but you will likely need additional accounting-specific qualifications.

Available variations include:

• Associate of arts (AA) and associate of science (AS) degrees in statistics
• AS in applied statistics
• AS in data analytics

Bachelor's in Statistics

Bachelor's programs in statistics require about 120 semester credits or the equivalent. First-time students usually need four academic years to complete a bachelor's degree. As with other undergraduate statistics pathways, course content has extensive applications in accounting but does not typically cover accounting-specific material.

Many states do not explicitly require candidates to hold a bachelor's degree in accounting to qualify for licensure as a certified public accountant (CPA). As such, you could become a CPA with a statistics degree if you meet state requirements for additional accounting and/or business coursework.

Variations on this degree include:

• Bachelor of arts (BA) or bachelor of science (BS) in statistics
• BS in applied statistics
• BS in data science
• BS in quantitative methods

Master's in Statistics

A master's degree in statistics can supplement a bachelor's degree in accounting. Master's programs, which usually require 30-36 semester credits or two years of full-time study, delve deep into topics like statistical theory, modeling, and analysis.

Available variations include:

• Master of arts (MA) or master of science (MS) in statistics
• MS in data science
• MS in statistical science
• Professional master's in statistics

Combined with accounting education and a strong working knowledge of accounting methods, these degrees can help you establish yourself as an accounting professional. You can also enter career paths in data science and business analytics, which may not be as available if you only hold an accounting degree.

Doctorate in Statistics

Doctoral programs in statistics usually lead to a doctor of philosophy (Ph.D.) degree. Ph.D. programs are academically demanding, but credit requirements cover a broad range of about 34-64 credits or more, depending on the program.

Active accounting professionals rarely hold Ph.D. degrees in statistics or similar fields. Instead, doctoral degrees more often lead to careers in academia, research, and highly specialized or research-oriented career paths.

The topics you can explore at the doctoral level generally align with master's programs in the field. However, doctoral programs tend to offer more latitude to specialize in niche technical areas. Many also include advanced research, doctoral thesis, or dissertation components.

Is Statistics Better As an Undergrad or Graduate Degree?

If you plan to pursue higher education in statistics, you may wonder whether to study the subject as an undergraduate or graduate student. Both options offer viable paths to accounting or business careers but function differently.

First, consider majoring in statistics as an undergraduate. After completing your degree, you could pursue roles in business analytics or data science. However, you will likely need additional, field-specific training in accounting to qualify for jobs in that domain.

Then, consider the potential benefits of a graduate program. You could earn a bachelor's degree in accounting, business, data science, or another related field, then build deeper analytical expertise with a master's degree in statistics. While it involves additional years of schooling, this path builds a broader educational profile for accounting or business careers.

As a final option, you could also earn both undergraduate and advanced degrees in statistics. Consider this path if you are committed to a career in business analytics or data science.

Common Questions About Statistics Degrees