Scope of BS/MSc Statistics Scope in Pakistan

Statistics have a wide range of applications in different scientific domains, including economics, materials science, medicine, psychology, and sociology. You can work in actuarial science, market research, medical research, social studies, and many other sectors. 

BS Statistics Scope in Pakistan (MSc Statistics)

Scope of bs statistics in Pakistan

Statistics is a vast mathematical field that investigates methods for collecting, summarizing, and drawing conclusions from data. It is applicable to a wide range of academic subjects, including the physical and social sciences, as well as business, government, and industry. Scope of statistics in Pakistan is good as the trend is shifting to numeric culture.

This post is part of our career counseling for students.  

What is Statistics?

Statistics is a field of mathematics concerned with data collection, combination, organization, interpretation, analysis, and reporting for social, financial, medical, or other professional purposes.

 What do Statisticians do?

A Statistician is someone who studies and works with statistics. A statistician investigates, surveys, researches, and reproduces quantitative data for probability and investigation.

A statistician's profession includes using computing technology to code information, organize data, and drive outcomes from numbers in the form of tables, charts, graphs, and diagrams.

If you have adequate knowledge, you can compute the mathematical probability of an event.

Career Prospects of / Jobs for Statistics

The scope of statistics in Pakistan can be seen through the details below. Scope of BS statistics in Pakistan and statistics in Pakistan are equal in scope. A statistics degree holder can work in the following capacities:

1. Market Researcher

Examines the market situation in order to develop effective campaigns, generate demand and supply reports, forecast price variations, introduce new items into the market, and identify competitors in a market sphere.

2. Investment Analyst

An investment Analyst is employed by brokerage businesses, investment firms, and fund advisers to analyze data and report on the purchase and sale of stocks, bonds, funds, and investment securities.

3. Financial Manager

Financial management is the one in the financial sector that interprets data to provide reports on budget plans, spending management, commodities, bonds, and capital.

4. Statistician

Statisticians and mathematicians explore and solve organizational difficulties by analyzing data and applying business models.

5. Database administrators

Database administrators are experts at storing, categorizing, and organizing data. They are in charge of protecting data through backups and restores, as well as maintaining and updating data security.

6. Actuaries

Actuaries manage financial risks for individuals, businesses, and government agencies. They study financial costs, evaluate risk levels, and make recommendations. They use their statistical expertise to collect data, analyze trends, and estimate future occurrences using business models.

7. Professors in academic institutions

Statistics professors often work in academic environments, where they teach students and do research. They may also work in government organizations or private businesses, where they may provide project consultation or assist with the development of new goods or services.

BS statistics Salary in Pakistan

In Pakistan, the average Statistician's salary is nearly PKR 480000 per year or PKR 40,000 per month depending on the skills and experience. Starting salaries for entry-level work start at PKR 35,000 per month, with most experienced professionals earning up to PKR 90,000 per month.

MSc/BS statistics in Pakistan

Here is the complete details about BS statistics or M.Sc statistics in Pakistan:

What Are the Required Skills in Statistics?

A statistician's ability to manage information requires teamwork, time management, organization, and planning skills.

A practical and strategic strategy to information gathering, data analysis, and report production. A statistician must be able to think logically and solve problems.

A statistician must be able to decode complex mathematical problems and use technology effectively.

Statistics Major Subjects

Some of the major subjects offered courses by universities are as follows:
  • Statistical Inference
  • Statistical Quality Control
  • Survey and Report Writing
  • Practical on Statistical Inference
  • Operational Research
  • Time Series Analysis and Forecasting
  • Data Processing and Computer Program
  • Practical on Sample Techniques
  • Practical on Design and Analysis
  • Population Research
  • Multivariate Analysis
  • Actuarial Analyst

Universities in Pakistan Offering Admissions in Statistics

We have listed below some best universities of Pakistan that are offering BS/MSc statistics programs:
  1. The University of Punjab.
  2. Karachi University.
  3. Sindh University
  4. Aga Khan University
  5. NED
  6. AJK University.
  7. BahaudinZakriya University.
  8. Sargodha University.
  9. Peshawar University.
  10. Islamia University Bahawalpur.
  11. Allama Iqbal Open University.
  12. The Virtual University of Pakistan.
  13. Comsats University Islamabad.
  14. Kinnaird College for Women.
  15. Lahore College for Women University.
  16. Federal Urdu University of Arts Science &Technology, Karachi.
  17. University of central Punjab.
  18. University of management and technology.

Basic Eligibility criteria of admission in statistics

Students are eligible to apply for a BS course in statistics after 12th with mathematics or statistics as a compulsory course. Admission to master's programs requires a bachelor's degree in statistics from a recognized university. 

Candidates seeking admission to doctorate programs must have a master's degree, such as M.Stat or M.Sc. in Statistics.

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