Management Sciences & Methods

Types of Degrees Management Sciences & Methods Majors Are Getting

The following table lists how many management sciences and quantitative methods graduations there were in 2017-2018 for each degree level.

Education Level	Number of Grads
Master’s Degree	9,349
Bachelor’s Degree	7,093
Graduate Certificate	1,154
Basic Certificate	495
Associate’s Degree	89
Doctor’s Degree	55
Undergraduate Certificate	47

What Management Sciences & Methods Majors Need to Know

O*NET surveyed people in occupations related to management science and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Management Science Majors

Management Science majors often go into careers in which the following knowledge areas are important:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Management Science Majors

management science majors are found most commonly in careers in which the following skills are important:

• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Speaking - Talking to others to convey information effectively.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Abilities for Management Science Majors

Some of the most crucial abilities to master while a management science student include the following:

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a Management Sciences & Methods Major?

People with a management science degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Actuaries	22.5%	$102,880
Business Professors	18.0%	$83,960
General and Operations Managers	9.1%	$100,930
Mathematical Science Professors	9.4%	$73,230
Operations Research Analysts	27.5%	$83,390
Statisticians	33.9%	$87,780
Survey Researchers	2.1%	$57,700

Who Is Getting a Bachelor’s Degree in Management Sciences & Methods?

This is a less frequently chosen undergraduate major. Only 7,093 students graduated with a bachelor’s degree in management sciences and quantitative methods in 2018, making it rank #63 in popularity. This major tends to be male dominated. About 60% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of management science majors is as follows:

Race/Ethnicity	Number of Grads
Asian	789
Black or African American	371
Hispanic or Latino	589
White	4,023
International Students	970
Other Races/Ethnicities	351

Geographic Diversity

Americans aren’t the only ones with an interest in Management Science. About 13.7% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• India
• Malaysia
• Taiwan
• South Korea

How Much Do Management Sciences & Methods Majors Make?

Bachelor’s Degree Starting Salary

According to 2017-2018 data from the U.S. Department of Education, students who graduated with a bachelor’s degree in management science have a median salary of $51,700 during the early years of their career. During this timeframe, most salaries fell between $41,650 (25th percentile) and $58,900 (75th percentile).

One thing to note here is that not all of these people may be working in careers related to management science.

Salaries According to BLS

Average salaries range from $87,140 to $116,250 (25th to 75th percentile) for careers related to management science. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to Management Sciences & Methods

Some degrees associated with management science may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to management science have obtained the following education levels.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	3.7%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	1.6%
Some College Courses	4.6%
Associate’s Degree (or other 2-year degree)	3.2%
Bachelor’s Degree	32.1%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	8.7%
Master’s Degree	24.9%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	2.6%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	1.7%
Doctoral Degree	15.9%
Post-Doctoral Training	1.8%

Online Management Sciences & Methods Programs

In 2017-2018, 397 schools offered a management science program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	34	5
Certificate (1-2 years)	10	3
Certificate (2-4 Years)	1	1
Associate’s Degree	8	2
Bachelor’s Degree	67	21
Post-Baccalaureate	34	5
Master’s Degree	240	60
Post-Master’s	17	0
Doctor’s Degree (Research)	19	3
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Management Sciences & Methods Worth It?

The median salary for a management science grad is $92,600 per year. This is based on the weighted average of the most common careers associated with the major.

This is 132% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,054,000 after 20 years!

Majors Related to Management Sciences & Methods

You may also be interested in one of the following majors related to management science.

Major	Number of Grads
Business Administration & Management	399,810
Accounting	107,851
General Business/Commerce	58,413
Finance & Financial Management	56,960
Marketing	49,179
Human Resource Management	26,853
Hospitality Management	20,194
Business Support & Assistant Services	19,248
Management Information Systems	14,578
International Business	10,536
Entrepreneurial Studies	8,522
Business/Managerial Economics	6,727
Specialized Sales, Merchandising & Marketing	6,711
Other Business, Management & Marketing	5,750
General Sales & Marketing	5,673
Real Estate	5,183
Construction Management	3,375
Insurance	2,316
Taxation	1,888
Business/Corporate Communications	1,088
Telecommunications Management	48

References

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By в±® under License

More about our data sources and methodologies.