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Master of Commerce [M.Com] (Statistics) - Course Overview

  • STREAM

    COMMERCE

  • DURATION

    2 YEARS

  • COURSE

    Statistics

  • COURSE TYPE

    Post Graduation

Master of Commerce in Statistics Top Colleges, Syllabus, Scope and Salary

 

M.Com. in Statistics is a 2-year postgraduate course, minimum eligibility for which is a B.Com. degree. The course lays primary emphasis on collecting and interpreting statistical data. Social Sciences, Finance, and Econometrics are all covered as potential areas concerned with gathering statistical data. Ideal students of the course would have a strong mathematical background in practical Math, including algebra, calculus, etc. The program also covers the design aspects of statistics, including subjects such as survey- sampling and experiment- implementation.

Master of Commerce in GujaratMaster of Commerce in Tamil NaduMaster of Commerce in RajasthanMaster of Commerce in Karnataka

Admission to the course is based on the candidate’s performance in a relevant entrance test, academic profile, and occasionally, rounds of Personal Interview.

The average tuition fee charged for this course in India ranges between INR 1 and 4 Lacs, and the average annual salary offered in India to such professionals ranges between INR 3 and 10 lacs.

Organizations such as Deloitte Consulting, TCS Innovations Labs, Blue Ocean Marketing, BNP Paribas India, Neilson Company, Accenture, HP, GE Capital, and HDFC, etc. hire such postgraduates.

Successful postgraduates of the course are hired in capacities such as Statistician, Business Analyst, Mathematician, Professor, Risk Analyst and Data Analyst, etc.

M.Com. in Statistics: Course Highlights​

Course LevelPostgraduate
Duration2 years
Examination TypeSemester System
EligibilityBachelor's degree with commerce subjects such as Accounts, Maths and Economic
Admission ProcessBased on counselling after qualification of the relevant entrance test.
Course FeeINR 1 to 4 Lacs p.a.
Average Starting salaryINR 3 to 10 Lacs p.a.
Top recruiting companiesGenpact, TATA CONSULTANCY SERVICES LIMITED, WNS Global Services, Wipro Technologies Ltd., Tata Motors, Bharat Sanchar Nigam Limited (BSNL), National Small Industries Corporation Limited (NSIC), Heavy Engineering Corporation Limited (HEC Ltd.) etc.

M.Com. in Statistics: What is it About?

As an academic discipline, Statistics is closely related to other fields, such as medicine, natural sciences, education, and psychology etc.

Related areas such as Social Science, Econometrics, and Finance are also covered in this course. Statistics is intricately applied in the following:

  • Planning of Operations: This may relate to either special projects or to the recurring activities of a firm over a specified period.
  • Setting up of Standards: This may relate to the size of employment, volume of sales, fixation of quality norms for the manufactured product, norms for the daily output, and so forth.
  • The Function of Control: This involves comparison of actual production achieved against the norm or target set earlier. In case the production has fallen short of the target, it helps provide remedial measures so that such a deficiency does not occur again.

Successful postgraduates of the course may work for consulting companies, analyzing people’s preferences and tendencies.

In ancient times, Statistics was also called the science of state craft, and was applied to collect information related to military, population, wealth, etc.

In modern times, it is applied in various more areas, such as planning, economics, business, management, Mathematics, etc.

Top Institutes offering M.Com. in Statistics

Name of InstituteCity Average Fees
University of RajasthanJaipurINR 7,000 (course)
Hindu collegeDelhiINR 20-50,000 (course)
Biyani Girls CollegeJaipurINR 80,000 (course)
Maharshi Dayanand Saraswati UniversityAjmerINR 1,000 (course)

Eligibility for M.Com. in Statistics

As a minimum criterion of eligibility, candidates seeking admission to the course need to have completed graduation (B.A./B.Com./ BBS) with Commerce subjects, such as Accounts, Maths and Economics, from a recognized institute, and with a minimum aggregate score of 50%.

Master of Commerce in MaharashtraMaster of Commerce in Uttar PradeshMaster of Commerce in KeralaMaster of Commerce in Telangana

M.Com. in Statistics: Admission Process​

The admission process for the course is varied, as various institutes have their very own criteria and processes of admission. Admission to the course is often based on the candidate’s performance in a relevant entrance exam, followed by a round of counselling, based on performance in which, students are admitted.

Listed here are the major entrance exams held in the country for admission to the course.

  • Acharya Nagarjuna University M.Com. Entrance Exam
  • Avinashilingam University for Women M.Com. Entrance Exam
  • Banaras Hindu University M.Com. Entrance Exam
  • Bangalore University M.Com. Entrance Exam
  • Barkatullah Vishwavidhyalaya University M.Com. Entrance Exam

M.Com. in Statistics: Syllabus and Course Description

A semester-wise breakup of the course’s syllabus is tabulated here.

Semester - I

Advanced Statistics - 1
Statistical Inference
Univariate Distributions
Advanced Statistics - 2
Demography
Index Numbers
Advanced Statistics - 3
Mathematical Economics
Time Series Analysis
Advanced Statistics - 4
Testing of Hypothesis
Non- Parametric Tests

Semester - II

Advanced Statistics - 5
Demography
Life Tables
Indian Official Statistics
National Income
Advanced Statistics - 6
Econometrics Methods
Time Series Analysis

Semester – III

Advanced Statistics - 7
Advanced Statistics - 8
Advanced Statistics - 9

Semester – IV

Advanced Statistics - 10
Advanced Statistics - 11
Advanced Statistics - 12

M.Com. in Statistics: Career Prospects

A variety of social and economic problems need to be addressed by application of Statistics. Other prominent areas that need its application are computer science, government and private statistics-based business, science, agriculture, health, and such.

Typically, a Statistician does the following:

  • collect and analyze data.
  • design experiments or surveys to collect data.
  • applying statistical methods to solve practical problems in business, science and other fields.
  • write reports and articles of their analyses.
  • presenting results to clients or authorities.

Some of the popular professional avenues open to such postgraduates are listed below with the corresponding salaries offered for the respective positions.

Master of Commerce [M.Com.] in Statistics
Job PositionJob DescriptionAverage Annual Salary in INR
StatisticiansA Statistician is responsible for the collation, evaluation, interpretation and presentation of quantitative data.3,68,671
Business AnalystA Business Analyst is responsible for developing solutions for business problems technically, and for analysing requirements and documentation for advancing sales efforts.8,62,699
MathematicianThey use formulas and models to prove and disapprove theories. They use techniques for solving business and engineering-related problems etc.1,230,410
Risk AnalystThey are responsible for estimating the risks financially involved in the investments and operations in an organisation. They usually work for banks and financial institutions.5,01,424
Data AnalystData Analysts are responsible for collecting data for market research, logistics, and transportation to implement such data for decision-making.3,49,284
Content AnalystContent Analysts are responsible for analysing the accuracy of content-relate aspects such as facts and grammar.2,44,879
Statistic TrainerThey handle the learning and professional development of an organisation's workforce. They are also often called learning and development officers.4,32,819
ConsultantConsultants provide training, advice, and support to the group.8,31,119
BiostatisticianBiostatistician are responsible for combining Maths, Science and Statistics to prevent and address public health problems.1,460,000