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Management Sciences & Methods

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Management Sciences & Methods Major

Management sciences and quantitative methods is a major that typically falls into the Business, Management & Marketing category.

There are 8 programs available throughout the country that offer an associate’s degree in management science, 290 that offer a bachelor’s degree, and 240 that offer a master’s degree. There are also at least 19 schools in the nation where you can get your doctorate degree in the field.

Who Is Getting a Management Science Degree?

Management sciences and quantitative methods runs middle of the road when it comes to popularity, ranking #66 out of all the majors we track. In 2017, about 6,400 graduates completed their bachelor’s degree in this major. This major attracts more men than women. About 59.7% of the graduates in this field are male.

Racial Distribution

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

  • Asian: 11.1%
  • Black or African American: 5.2%
  • Hispanic or Latino: 8.3%
  • White: 56.7%
  • Non-Resident Alien: 13.7%
  • Other Races: 4.9%
Management Sciences & Methods Majors Ethnic Diversity Statistics

Americans aren’t the only ones with an interest in management science. About 13.7% of those graduating in 2017 were international students. The most popular countries sending management science majors to the U.S. are China, India and Malaysia.

What Will You Learn as a Management Sciences & Methods Major?

An O*NET survey asked people with careers related to management science to rate how important certain subject areas were to their job. The following are some of the results of that survey. Importance was rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Management Science Majors

This major prepares you for careers in which these knowledge areas are important:

Important Knowledge Areas for Management Sciences & Methods Majors

Skills for Management Science Majors

When studying management science, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:

Important Skills for Management Sciences & Methods Majors

Abilities for Management Science Majors

A major in management science will prepare for your careers in which the following abilities are important:

Important Abilities for management science Majors

What Can You Do With a Management Science Major?

Below is a list of occupations associated with management science:

Careers Related to Management Sciences & Methods
Job Title Job Growth Rate Median Salary

Chief Executives

-3.9%

$189,600

Insurance Underwriters

-5.3%

$69,380

Mathematical Science Professors

9.4%

$73,230

Chief Sustainability Officers

-3.9%

$189,600

Business Professors

18%

$83,960

Actuaries

22.5%

$102,880

Operations Research Analysts

27.5%

$83,390

Statisticians

33.9%

$87,780

Survey Researchers

2.1%

$57,700

General and Operations Managers

9.1%

$100,930

Management Sciences & Methods Major Salary

Management science majors often go into careers where salaries can range from $87,000 to $116,000. 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, the typical high school graduate makes between $29,000 and $57,000 a year. The average person with a bachelor’s degree (any field) makes between $44,000 and $99,000. Advanced degree holders make the most with salaries between $55,000 and $120,000.

Average Salary for a Management Science Major  ( 87000 to 116000 )
$0
$200k
Average Salary for High School Graduate  ( 29000 to 57000 )
$0
$200k
Average Salary with Bachelor's Degree  ( 44000 to 99000 )
$0
$200k
Average Salary with Advanced Degree  ( 55000 to 120000 )
$0
$200k

The area of the country you choose to work in will also affect your career and salary prospects. Getting a graduate degree may open up more options with higher salary potential.

Amount of Education Required for Management Sciences & Methods Major Jobs

Some careers associated with management science may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much education 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 Levels for Careers Associated With Management Sciences & Methods
Level of Education Percentage of Workers

Less Than a High School Diploma

0%

High School Diploma or Equivalent

3.7%

Post-Secondary Certificate

1.6%

Some College Courses

4.6%

Associate's Degree or Equivalent

3.2%

Bachelor's Degree

32.1%

Post-Baccalaureate Certificate

8.7%

Master's Degree

24.9%

Post-Master's Certificate

2.6%

First Professional Degree

1.7%

Doctoral Degree

15.9%

Post-Doctoral Training

1.8%

Online Management Sciences & Methods Programs

There are 290 colleges that offer a bachelor’s degree in management sciences and quantitative methods, with 22 of them offering at least some courses online.

Online learners must listen or watch video lectures, participate in group chats or forums, submit papers and assignments electronically, take tests, and meet deadlines.

Getting your degree online is not easy and includes watching and listening to hours of lectures, participating in group charts, submitting papers by the appropriate deadline and taking tests. Some online programs will also feature internships or in-person clinical hours.

Is a Management Sciences & Methods Major Worth It?

The median salary for a management science grad is $93,000 per year. This is based on the weighted average of the most common careers associated with the major.

This is 138% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,074,000 after 20 years!

management sciences and quantitative methods salary compared to typical high school and college graduates over a 20 year period

References

Bureau of Labor Statistics
National Center for Education Statistics
O*NET Online
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