How to Make 6 Figures As A Statistician? (11 Best Ways in 2024)
So you want to make six figures as a Statistician? Good for you! Being a Statistician is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a Statistician - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start a blog ($44.9K/month)
Starting a blog could significantly supplement your income as a Statistician, potentially paving the way to make six figures. With the vast knowledge and expertise you already possess, you could share valuable insights on data analytics, statistical methods, and industry trends. This, in turn, could attract a large readership eager to learn from your expertise.
Blogs have been rated as the 5th most trustworthy source of gathering information online, and with 77% of internet users reading blogs, the potential to reach a massive audience is immense. By consistently posting high-quality content and engaging with your readers, you could monetize your blog through various streams such as advertisements, sponsored posts, and affiliate marketing. Over time, your blog could even evolve into a full-time business, providing not only a substantial income but also the flexibility to work from anywhere.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
2. Start an ecommerce store ($287K/month)
Starting an ecommerce store could be a lucrative way to supplement your income as a Statistician, allowing you to edge closer to that six-figure mark. By leveraging your analytical skills, you could identify niches that are underserved and target them effectively, ensuring a steady stream of sales. The lower overhead costs and increased flexibility of an online store make it easier to sustain while you maintain your primary career.
Given the booming nature of ecommerce owing to its unparalleled convenience for consumers, this venture could potentially reach a wider audience than traditional brick-and-mortar businesses. Moreover, with tools like payment processing software, shopping cart software, and inventory tracking, setting up and managing your store has never been more efficient.
By properly balancing your time and resources, you could turn this side endeavor into a successful business, significantly boosting your overall earnings.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
3. Become an affiliate marketer ($55.3K/month)
Supplementing your income as a statistician with an affiliate marketing business could be a practical and lucrative endeavor. By promoting other companies' products or services and earning a commission for each sale made through your referral, you could leverage your analytical skills to identify high-performing niches and optimize your marketing strategies for maximum profitability.
The low-cost nature of affiliate marketing eliminates the need for substantial upfront investment, making it an accessible option for those looking to diversify their income streams. Additionally, the flexibility of this business model allows you to manage it alongside your full-time job, gradually increasing your earnings potential as you refine your marketing techniques and build a larger audience.
Incorporating affiliate marketing into your career trajectory could not only provide a substantial supplemental income but also open opportunities for financial growth beyond your primary role as a statistician. This entrepreneurial venture offers the potential to significantly boost your overall earnings, helping you edge closer to the six-figure mark.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
4. Digital products ($261K/month)
As a Statistician, venturing into digital products could present a lucrative pathway to making six figures. You could leverage your expertise to create information-based products such as eBooks or online courses on statistical methods, data analysis, or predictive modeling. Given the high demand for data skills, these digital offerings can attract a global audience, ensuring a steady stream of income.
Additionally, you could develop software-based products like specialized statistical tools or apps that cater to niche needs within various industries. The scalability of digital products means there’s no hassle with physical inventory, making it easy to manage and distribute directly from your website. This entrepreneurial move not only supplements your income but also positions you as an authority in your field.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
5. Start a podcast ($97.9K/month)
Starting a podcast could be a lucrative side business for a statistician. By sharing your expertise and insights on statistics, data analysis, and industry trends, you could attract a dedicated audience interested in these topics.
With the right niche and consistent content creation, your podcast could become a valuable resource for professionals and students alike. As your audience grows, opportunities for monetization through sponsorships, advertising, and premium content subscriptions could significantly supplement your income.
Ultimately, turning your podcast into a reputable brand could not only boost your earnings but also enhance your professional reputation and open doors to additional revenue streams.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
6. Become a social media influencer ($57.4K/month)
As a Statistician, one promising way to make six figures is by leveraging your expertise to become a social media influencer. Due to the prominent role social media plays in daily life, brands are eager to collaborate with influencers on platforms such as Instagram, YouTube, Facebook, and TikTok. By establishing yourself as a credible voice in the field of statistics, you could attract a vast audience interested in data analysis, statistical methods, and their practical applications.
Creating engaging and educational content about statistics can help you build a loyal following. This could not only supplement your income through brand sponsorships and partnerships, but you could also monetize your content via ads and premium courses. By choosing a niche that aligns with your interests and professional knowledge, you could effectively grow your influence and potentially generate a substantial additional income stream.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
7. Start a freelance writing business ($65.5K/month)
Starting a freelance writing business could provide statisticians with the flexibility and additional income streams needed to reach six figures. By leveraging your analytical expertise, you could produce high-quality content on data science, analytics, and other related topics, attracting clients who value your niche knowledge. This allows you to supplement your income significantly without the constraints of a traditional job.
Additionally, the ability to set your own schedule and work from home means you could manage your freelance projects alongside your main job. Strong writing skills, the ability to meet deadlines, and being a self-starter would be crucial to your success in this venture. By staying up-to-date with current writing tools and trends, you ensure that your content gets noticed in a competitive marketplace.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
8. Start a social media marketing agency ($116K/month)
Starting a social media marketing agency could significantly supplement your income and help you make six figures as a Statistician. Leveraging your analytical skills, you could develop and execute data-driven social media strategies that attract clients looking for impactful and measurable results. This venture allows you to utilize automated social media marketing tools, thereby not requiring a full-time commitment which means you can manage your agency alongside your primary career.
Furthermore, creating an impressive agency portfolio will showcase your ability to convert data insights into effective marketing campaigns, enticing potential clients. This entrepreneurial endeavor offers a flexible pathway to clear your utility bills and save for future goals, be it a vacation or further education. Embracing the dual benefits of financial growth and professional enrichment could lead you to a thriving secondary income stream, pushing you closer to achieving a six-figure salary.
How much you can make: $1,000 — $500,000/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
9. Start a career coaching business ($48.5K/month)
Starting a career coaching business could significantly supplement your income and help you reach six figures as a Statistician. By leveraging your analytical skills and industry experience, you could provide personalized guidance on resume building, interview preparation, and workplace advancement strategies to clients looking to achieve their professional goals.
Operating a career coaching business offers flexibility for in-person or virtual meetings, allowing you to build a diverse client base. With a knack for speaking and a background in human resources, you could monetize your motivational talents and set your own work schedule, turning your coaching practice into a lucrative side business or full-time venture.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
10. Start a youtube channel ($146K/month)
Starting a YouTube channel could be an excellent way for you as a Statistician to supplement your income and potentially make six figures. By creating high-quality content focused on statistical methods, data analysis, and industry insights, you could attract a large and engaged audience. As your subscriber base grows, reaching the necessary 1,000 subscribers and 4,000 watch hours could open doors to YouTube's monetization opportunities.
In addition to ad revenue, you could capitalize on your expertise by offering tutorials, online courses, and consulting services through your channel. Many successful YouTube creators also earn money through brand partnerships, sponsored content, and even merchandise sales. By leveraging YouTube's established monetization system and its vast user base, you could turn your channel into a significant income stream while sharing your passion for statistics.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
11. Create an online course ($91.9K/month)
Creating an online course could be a lucrative way to supplement your income as a Statistician, potentially helping you reach six figures. By identifying educational gaps in the field and developing engaging video lessons and supplementary materials, you could attract a dedicated student base eager to learn specialized statistical skills.
With the flexibility to offer self-paced or cohort-based courses, this side business offers passive income potential with minimal startup costs. Aspiring lifelong learners are always seeking convenient access to emerging subjects, making your statistical expertise a valuable commodity in the digital education market.
How much you can make: $350 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
