by our College Data Analytics TeamDo 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.
In 2020-2021, management sciences and quantitative methods was the 23rd most popular major nationwide with 43,382 degrees awarded. This is a difference of 7,344 over the prior year, a growth of 16.9%.
This year's Best Management Sciences & Quantitative Methods Schools ranking compares 361 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.
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
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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.
New students will need to have completed high school or a GED program and each school will have their own minimum GPA and SAT/ACT test requirements. Once you obtain your degree, additional management science certifications required to pursue a career in this field.
Management Science degree levels vary. You can spend many years getting as high as a in management sciences and quantitative methods to something that takes less time like a . The type of management science degree you choose will determine how long it takes to get your diploma.
| 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% |
90.7% of management science workers have at least a bachelor's. The chart below shows what degree level those who work in management sciences and quantitative methods have obtained.
This of course varies depending on which management science career you choose.
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.
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% |
Recently graduated management sciences and quantitative methods students earned an average of $65,786 in 2019-2020. Earnings can range from as low as $29,699 to as high as $127,883. As you might expect, salaries for management science graduates vary depending on the level of education that was acquired.
Salaries for management sciences and quantitative methods graduates can vary widely by the occupation you choose as well. The following table shows the top 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 |
With over 1,186 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.
Learn about other programs related to Management Sciences & Quantitative Methods that might interest you.
One of 21 majors within the Business, Management & Marketing area of study, Management Sciences & Quantitative Methods has other similar majors worth exploring.
| Major | Annual Graduates |
|---|---|
| Management Science | 23,510 |
| Other Management Sciences and Quantitative Methods | 13,371 |
| Business Statistics | 4,295 |
| Actuarial Science | 2,206 |
| Related Major | Annual Graduates |
|---|---|
| Business Administration & Management | 416,590 |
| Accounting | 99,265 |
| Finance & Financial Management | 57,778 |
| General Business/Commerce | 56,042 |
| Marketing | 52,916 |
