In my opinion, most of the Masters Statistics (maybe except UChicago) do not really increase your chance much into a PhD program.
I dont know much about the UM MA Stat but it seems that their students are able to land jobs in the financial industry:
From the website FAQ: https://lsa.umich.edu/stats/graduate-students/prospective-graduate-students/prospective-graduate-student-faqs.html
Q: I am interested in going into finance and would like to have a better understanding of statistics. Would the Applied Master’s program be an appropriate degree?
A: We have had Applied Masters alumni find careers in finance. Some recent examples of finance jobs our graduates started upon completing the degree:
Quantitative Research and Trading at Worldco, LLC
Financial Analyst at the Quantitative Strategies Group of Goldman Sachs
Quantitative Operations Manager at Bank of America
FX Options Trader – Associate at Bank of America
Credit Risk Analyst at Household Credit Services
