Rochester Institute of Technology

Academic Program Overviews

Student Skills & Capabilities, Salary Data, Career Information 

Applied Statistics and Actuarial Science BS

Program Overview

RIT's Applied Statistics and Actuarial Science program provides students with a strong foundation in mathematical and statistical principles, experience with real-world applications, and a solid background in advanced statistical software packages. Students in this program learn to effectively apply statistics to problems in data analysis, quality control, reliability analysis, experimental design, survey sampling, and statistical forecasting. In addition, students learn the important skills of designing an experiment, selecting and formulating appropriate statistical models, interpreting and analyzing data, and communicating the results in written and oral form. Students also select program electives in a related application field. Program options include actuarial science, biology, biostatistics, chemistry, economics, finance, industrial engineering, marketing, operations research, psychology, public policy, and quality science. Graduates of RIT’s Applied Statistics program find outstanding professional opportunities in business, industry, and government, and are accepted into the very best graduate programs.

Degrees Awarded

  • Bachelor of Science in Applied Statistics and Actuarial Science
  • Bachelor of Science in Applied Statistics & Masters of Science in Applied Statistics (dual degree program)
  • Bachelor of Science in Applied Statistics & Master of Science in Applied and Computational Mathematics (dual degree program)

Enrollment

  • Approximately 28 students are enrolled

Cooperative Education & Experiential Education Component

  • Students are eligible to participate in an optional co-op program upon completion of 2nd year courses. Participation is strongly encouraged.

Salary Information

Co-op:   $17.00                     $17.00-$27.00
*BS:         $60,000                   $55,000-$70,000

*Statistics from the Nat’l Assn. Of Colleges & Employers ; (NACE)

Student Skills & Capabilities

  • Data analysis, simple and multiple regression analysis, interpretation and presentation of data, problem solving, experimental design, survey sampling, quality control methodologies, statistical inference and statistical modeling.
  • Computer Skills- Software: SAS, R, SPSS, Minitab, LaTeX Programming Languages: Python, Java, C (dependent upon course sequence selected by student)

Equipment & Facilities

Students have access to programming, statistical and simulation languages, graphics software and design tools on a variety of platforms. Symbolic computation and statistical laboratories are also available.

Nature of Work

Statisticians use statistical methods to collect and analyze data and to help solve real-world problems in business, engineering, healthcare, or other fields. Statisticians typically need at least a master’s degree in statistics, mathematics, or another quantitative field. However, a bachelor’s degree is sufficient for some entry-level jobs. (Source: U.S. Bureau of Labor Statistics Occupational Outlook Handbook ’15)

Training / Qualifications

A master's degree in statistics or mathematics is the minimum educational requirement, but research and academic jobs generally require a Ph.D., while Federal Government jobs require at least a bachelor's degree. Beginning positions in industrial research often require a master’s degree combined with several years of experience. Jobs with the Federal Government require at least a bachelor's degree. Because computers are used extensively for statistical applications, a strong background in computer science is highly recommended. For positions involving quality and improvement in productivity, training in engineering or physical science is useful. A background in biological, chemical, or health science is important for positions involving the preparation and testing of pharmaceutical or agricultural products. Courses in economics and business administration are valuable for many jobs in market research, business analysis, and forecasting. (Source: U.S. Bureau of Labor Statistics O.O.H. ’15)

Job Outlook

Employment of statisticians is projected to grow 34 percent from 2014 to 2024, much faster than the average for all occupations. Growth is expected to result from more widespread use of statistical analysis to make informed business and healthcare decisions.(Source: U.S. Bureau of Labor Statistics O.O.H. ’15)

Job Titles

Actuary, Operations Research Analyst, Financial Analyst, Teacher (secondary or post-secondary), Market Research Specialist, Data Analyst (e.g. biological, clinical trial), Quality Assurance Engineer/Analyst, Biostatistician, Underwriter, Statistician

Employment

Statisticians held about 35,100 jobs in 2014. About 20 percent of these jobs were in the Federal Government, where statisticians were concentrated in the Departments of Commerce, Agriculture, and Health and Human Services. Another 10 percent were found in State and local governments, including State colleges and universities. Most of the remaining jobs were in private industry, especially in scientific research and development services, insurance carriers, and pharmaceutical and medicine manufacturing. (Source: U.S. Bureau of Labor Statistics O.O.H. ’15)

Selected Employer Hiring Partners

Excellus Blue Cross/Blue Shield, Center for Army Analysis, CIGNA Healthcare, GE, HealthNow, JP Morgan, Liberty Mutual Insurance Co., LMI, Minitab Inc., National Grid, Ortho-Clinical Diagnostics, Paychex, U.S. Bureau of Labor Statistics, U.S. Census Bureau, Xerox Corp

Contact Us

We appreciate your interest in your career and we will make every effort to help you succeed. Feel free to contact Lisa Monette, the career services coordinator who works with the Applied Statistics and Actuarial Science program. For your convenience, you can access information and services through our web site at www.rit.edu/careerservices
 

Lisa Monette, Career Services Coordinator, This email address is being protected from spambots. You need JavaScript enabled to view it.; 585.475.7413

Rochester Institute of Technology . Office of Career Services and Cooperative Education
Bausch & Lomb Center
57 Lomb Memorial Drive . Rochester NY  14623-5603
585.475.2301

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