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Management Sciences & Quantitative Methods

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2020 Management Sciences & Quantitative Methods Degree Guide

Do you ever wonder who make the tough decisions in business? Who decides where investment will go, if employees can be hired or prices altered? Students who major in Management Sciences and Quantitative Methods will learn how to use business and scientific techniques in order to make decisions, design systems, and solve problems for business.

Be prepared to study applications of data warehousing, data mining, programming, forecasting and operations, and statistical modeling in order to research these problems for various organizations.

There are two concentrations within this major: Business Statistics, and Actuarial Science. While focusing on this major, you will be taking courses in systems analysis and design, research methods, finance, statistics, marketing, and business administration and management.

A Recent Jump in Management Sciences & Quantitative Methods Degrees

#67 Most Popular Major
18.3k Degrees Awarded
22.7% Increase in Graduates

In 2017-2018, management sciences and quantitative methods was the 67th most popular major nationwide with 18,282 degrees awarded. This is a difference of 4,157 over the prior year, a growth of 22.7%.

Approximately 171 colleges in the U.S. offer a management sciences and quantitative methods degree of some kind. This year's Best Colleges for Management Sciences & Quantitative Methods ranking compares 69 of them to identify the best overall programs in the country. Continue reading to check out one of our many unbiased rankings of management science programs later in this article.

Requirements for Getting a Degree in Management Sciences & Quantitative Methods

This is a great major a student with an analytical mind who loves solving problems. In your college work, as well as your career, you will be faced with a number of complex issues that you will need to use creativity and logic to overcome. Many of your projects will involve group work. Learn to improve your communication skills to achieve success.

Being comfortable with computers and technology will also help you. There is opportunity to gain a Master in Management Sciences and Quantitative Methods if you decide to further your education.

Prior Education for a Management Science Program

management sciences and quantitative methods degree applicants generally need have finished high school or their GED. Many schools may also have GPA and SAT/ACT score minimums that must be met. In addition to these basic management sciences and quantitative methods program qualifications, to serve in some management science careers, special certification may be required outside of your degree.

Management Sciences & Quantitative Methods Degree Types

There are many different management science degrees levels. You can get anything from a award taking less than 1 year in management sciences and quantitative methods to the highest management science degree, a research/scholarship based doctorate. Different management sciences and quantitative methods degrees vary in how long they take.

Degree Credit Requirements Typical Program Length
Associate Degree 60-70 credits 2 years
Bachelor’s Degree 120 credits 4 years
Master’s Degree 50-70 credits 1-3 years
Doctorate Program required coursework including thesis or dissertation At least 4 years

A bachelor's degree is the most common level of education achieved by those in careers related to management science, with approximately 33.1% of workers getting one. People currently working in careers related to management science tend obtained the following education levels.

Level of Education Percentage of Workers
Bachelor’s Degree 32.1%
Master’s Degree 24.9%
Doctoral Degree 15.9%
Post-Baccalaureate Certificate 8.7%
Some College Courses 4.6%

57.6% of management science workers have at least a graduate certificate. See the chart below for the most common degree level workers in management sciences and quantitative methods have received.

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The education level required is different depending on the management science career you are seeking.

Management Science Careers

Above Average Number of Jobs
$60.6k Average Starting Salary
9% Growth Job Outlook 2016-26

There are a few different career options for graduates with a degree in Management Sciences and Quantitative Methods. They find work in a variety of companies doing research, improving efficiency and developing better work systems.

Some jobs that graduates work at are Computer Systems Analysts, Operations Research Analysts, Statisticians, Management Consultants, and Financial Analysis. All of these career options work with businesses to solve problems and create strategies to better their company. You will be working closely with different management teams and working with their data and software.

Solid Growth Projected for Management Science Careers

Want a job when you graduate with your management science degree? Management Sciences & Quantitative Methods careers are expected to grow 8.6% between 2016 and 2026.

The following options are some of the most in-demand careers related to management sciences and quantitative methods.

Occupation Name Projected Jobs Expected Growth
General and Operations Managers 2,468,300 9.1%
Chief Executives 296,800 -3.9%
Operations Research Analysts 145,300 27.5%
Business Professors 123,000 18.0%
Insurance Underwriters 98,600 -5.3%

How Much Money Do People With a Management Science Degree Make?

Management Sciences & Quantitative Methods graduates between 2015-2017 reported earning an average of $60,558 in the 2017-2018 timeframe. Earnings can range from as low as $32,400 to as high as $181,500. As you might expect, salaries for management science graduates vary depending on the level of education that was acquired.

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High Paying Careers for Management Science Majors

Salaries for management sciences and quantitative methods graduates can vary widely by the occupation you choose as well. The following table shows the top 5 highest paying careers management science grads often go into.

Occupation Name Median Average Salary
Chief Executives $200,140
General and Operations Managers $123,880
Actuaries $116,250
Business Professors $103,330
Statisticians $92,600

Getting Your Management Sciences & Quantitative Methods Degree

With over 786 different management science degree programs to choose from, finding the best fit for you can be a challenge. Fortunately you have come to the right place. We have analyzed all of these schools to come up with hundreds of unbiased management science school rankings to help you with this.

Management Sciences & Quantitative Methods is one of 21 different types of Business, Management & Marketing programs to choose from.

Majors Similar to Management Science

Related Major Annual Graduates
Business Administration & Management 399,810
Accounting 107,851
General Business/Commerce 58,413
Finance & Financial Management 56,960
Marketing 49,179

View All Management Science Related Majors >

References

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