Is a STATISTICS degree WORTH it?

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These videos are for entertainment purposes only and they are just Shane's opinion based off of his own life experience and the research that he's done. Shane is not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.

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ShaneHummus

As a senior high school student who just applied to colleges, I cannot tell you how helpful this channel has been! I decided to apply to colleges with business and data science majors because of you :)

fizzyflair

I'm a statistician (with master of science degree). Here are additional points.

1. YES statistics is DIFFICULT to achieve. Math courses are prerequisites and you add more concepts of statistics. It's really a challenging but rewarding degree.
2. Speaking of a rewarding degree, you get
- paid for freelance and consultation works
- paid for research works that leads to scientific results (say, biostatistics) and policy recommendations (say, economics/econometrics)
- some bragging rights.... while many people hate math, there are still numerous graduate degree takers and holders in the pure and applied sides, and statistics is even rarer.
3. The flexibility is also true. Applied Statistics is the single most used (and abused) field in STEM and Social Sciences as source "empirical evidence" to prove hypothesis.
4. Be it in academe or industry, statisticians are asked for collaborations in both short-term and long-term projects if data interpretations and modeling is needed.
5. You see beyond what the data tells you as it is intellectually challenging and satisfying - once you choose your field and applications (Biostatics, Econometrics, Survey Sampling, etc.), you should know current trends and findings about it as people around may ask your opinions about it specifically if you work in an academe.
6. Learning theoretical statistics is a huge boost: you can easily transition into data scientist and machine learning engineer through coding training or practice statistics in the industry or academe.

PS: Earning a pure statistics degree in masters level might be the most flexible degree you could get if you want to get a PhD in other fields (Biology, Environmental Sciences, Economics, Meteorology, Agriculture, Engineering, Public Health, Computer Studies, Psychology, and the list goes on) or in Statistics itself. In general, for as long as data and uncertainty exists, a statistician has a job and direction.

;)

phg

I'm a healthcare statistician and I was very insecure abt this career because no one knew what was it about, but now I feel more relief to find this video

alessguzman

I made the decision to go for a statistics degree when I finished high school. If I was 18 years old again, I would make the same choice 100%. I am glad I had the brain +luck to find something I am good at, which also opens many job opportunities

giorgosmaragkopoulos

As someone who's considering doing a statistics or a Econ and stat degree, this was very much appreciated!

VocalBeast

Statistics is amazing!! The fact that you can sample an entire population and find useful information from it is itself mind blowing

exotickhanaarif

Lol, why people think their job has such low meaning? Meaning of statisticians is insane, basically all health related science based on statistics. Not only health, btw, economic, social, etc. It's kinda weird

dmytrandr

I am personally someone that has always hated maths and have never been good at it. However, I have always been interested in research and enjoy reading graphs. This year i have been doing a statistics course unit at my university and am personally LOVING IT. I think you just need to be really passionate about research and finding answers, i find that the maths in statistics is very doable and relatively easy to pick up (After a few trial and errors haha!).

karimhajama

I’m a data scientist 👨🏻‍💻. The job is really intellectually satisfying. It’s not just crunching numbers. It’s a lot of customer engagement to determine business needs, and then developing models with those needs in mind. I do some of the cutting edge machine learning (what people call artificial intelligence). You do have to know more than statistics, including how to code very well. I didn’t have a statistics degree though. I had a biomedical engineering degree. You can get the job with any mathematical major.

Demand is high. Salaries starting out are high (120k plus is correct). It’s worth it if you love math, machine learning, etc.

trevormiller

As someone studying Statistics and Computer Science, I would like to give my input:

1. You mention that a potential negative is a lot of number crunching, but I tend to disagree. Or at least, it depends on what you mean by number crunching. There's a huge variety of jobs, some of which you'll barely do any math in and you'll mainly be making PowerPoints (typically more managerial) and doing meetings, but then there are other jobs (Machine Learning Engineer) where your main job is to develop Statistical Models. Of course, in most you'll work with math, but keep in mind Computers can do most number calculations instantly, so a lot less than is spent number crunching than you might think. I think the most popular job is Data Science at the moment, and it's a bit more programming heavy and essentially finding data, cleaning it and then deciding what model to use and what insights could be valuable.

2. With me and a lot of my friends, we are neutral with Math, but LOVE statistics. I would highly encourage anyone thinking of it, to just try some Statistics. Especially some practical, real life problems. Math is like the fuel and Statistics is like the race car. You might like it more than you'd think. Especially, if you're an analytical thinker with an inquisitive mind. I started off with accounting and then quickly discovered that I like statistics ;).

3. It's difficult. Applied Statistics is much easier, but the more theoretical courses (which most Bachelors should have) in Mathematical Statistics are difficult. However, it's not impossible for most people I'd say. Just work hard and enjoy the learning process.

Sebastian

Don’t forget, stats has a lot of opportunity for contracting. I have a full time job but also two ongoing conracts that pay a lot per hour. So the salary can easily go up, especially if you are willing to work more than 40 hours a week

roboticperson

Personal opinion, I actually recommend going to university for pure mathematics and learning computer science on the side and taking statistics as a subject in grad school. You will have better foundation and clearer understanding, as well as be equipped with more tools. Also the pay nearly triples.

Apuryo

One of the most informative channels on YT.. Love your content as always ❤

alexisyuren

I did bio… then epidemiology… now stats/data science. It’s AWESOME

existentialrap

Major and degree was Economics with History, but along the way I took statistics. I remember telling myself how cool and potentially POWERFUL this science was. I tell all my friends to try and sell Stats to their kids as a major. As someone who's not strong in math, I would've 100% taken the Stats route if I could do it again.

adriansierra

I was so nervous that you were gonna talk about how being a stats major is not a good idea but I’m glad to hear I’ve made a good decision. I’m actually in a four year master program for Biostats so I’m saving 2 years worth of tuition and 2 years worth of time where I can be working and building my career. Good thing I picked a school that took all 32 of my AP credits. I just love statistics which makes me a huge nerd I know, but I always was good at math but wasn’t sure what I would do with it, and then when I took stats in high school and actually fell in love with it. I’m actually a math and stats tutor also at my university. As of now I’m hoping to be a data analyst for clinical trials, which with covid is in even more demand, but if that doesn’t work out my degree will still be a masters level statistics degree if I decide to not stay in the medical field.

carlyparker

Statisticians don't crunch numbers, that's what accountants are for

rlpn

for the future it would be amazing to interview some people with the respective degrees

mulle

I was way better at Calculus than Intro Statistics, but I wish I was better at stats because it's so useful. As a CS major, calc is mostly useless, but stats is super valuable in several areas.

Squeezyness

Is a STATISTICS degree WORTH it?