A person who is considering becoming a practitioner of statistics may wonder what the average salary of a statistician is. Wage figures are collected so that degree candidates and others can find out what the lowest and highest ten percent of earners bring home yearly and what the median annual and hourly wages are for people who work as statisticians. Here are a few ways to look at the average salary of a statistician in the United States.
Median Earnings By Industry of Employment
The average earnings of a statistician vary based on the industry in which they are employed. The top-paying industries for statisticians are the federal government, research institutions, insurance carriers, healthcare and colleges, universities and professional schools. The federal government’s average annual wage for statisticians as of May 2016 was more than $106,000. The average annual wage for a statistician working at a college, university or professional school was $73,000.
Factors That Affect the Average Earnings of a Statistician
The industry of employment is just one factor that determines the average earnings of a statistician. Another is the level of education. Most statisticians hold at least a master’s degree, and many hold a doctorate degree. Some of them have an additional degree or area of specialties, such as epidemiology or business. This can increase the individual’s earning power. Years of employment also affect the average annual salary. A statistician who is bilingual or multi-lingual may also earn more than what is average for the profession.
Salary of Statisticians By State or Territory
Another way to look at the average salary of a statistician is based on the state or territory in which they are employed. According to the Bureau of Labor Statistics, the five states or territories with the highest average annual salary for statisticians are New Jersey, Idaho, Massachusetts, Maryland and the District of Columbia. The average annual salary of the statisticians in New Jersey exceeded $116,000 as of May 2016, and the average annual salary of those in the District of Columbia exceeded $103,000. These numbers should be compared to the cost of living in those states.
Statistician Salaries By City or Metropolitan Area
Cities and metropolitan areas tend to have a higher cost of living than the suburban or rural areas of a state. It is also worth looking at the average salaries of statisticians by city or metropolitan area so that a candidate can compare those numbers against the cost of living. The top-paying cities or metropolitan areas for statisticians as of May 2016 were Bridgeport, San Francisco, Boston, Boulder, Raleigh, Trenton, New York City, San Diego, Washington D.C. and San Jose. The average annual salary in Bridgeport exceeded $142,000, and the average annual salary in San Jose exceeded $105,000.
Related Resource: 25 Most Affordable Master of Statistics Degrees
Knowing about the average annual or hourly wage of a statistician could help a person plan for repayment of student loans or decide where to live based on the cost of living and typical salaries for the profession. People may also want to make sure that the advanced degree they earn is worthwhile. Learning the average salary of a statistician is makes it easier to develop an informed decision about accepting a job based on the salary offer or negotiating with the employer for a higher wage.