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 2020-2021 for each degree level.

Education Level	Number of Grads
Master’s Degree	29,299
Graduate Certificate	2,275
Doctor’s Degree	127

What Management Sciences & Methods Majors Need to Know

People with careers related to management science were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Management Science Majors

According to O*NET survey takers, a major in management science should prepare you for careers in which you will need to be knowledgeable in the following areas:

• 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

A major in management science prepares you for careers in which the following skill-sets are crucial:

• 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 Master’s Degree in Management Sciences & Methods?

This is one of the most frequently chosen graduate majors. It is the 4th most popular in the country with 29,299 students graduating with a master’s in management science in 2021. This major attracts more men than women. About 58% of the graduates in this field are male.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	3,047
Black or African American	1,030
Hispanic or Latino	1,426
White	9,706
International Students	12,748
Other Races/Ethnicities	1,342

Geographic Diversity

Americans aren’t the only ones with an interest in Management Science. About 43.5% 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?

Master’s Degree Starting Salary

According to 2019-2020 data from the U.S. Department of Education, students who graduated with a master’s degree in management science have a median salary of $81,246 during the early years of their career. During this timeframe, most salaries fell between $74,315 (25th percentile) and $91,549 (75th percentile).

Note that some of these people may have jobs that are not directly related to a management science degree.

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.

Find out what the typical degree level is for management science careers below.

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 the 2020-2021 academic year, 513 schools offered some type of management sciences and quantitative methods program. 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)	0	0
Certificate (1-2 years)	13	0
Certificate (2-4 Years)	1	1
Associate’s Degree	10	2
Bachelor’s Degree	141	41
Post-Baccalaureate	0	0
Master’s Degree	415	68
Post-Master’s	24	0
Doctor’s Degree (Research)	32	2
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	131,555
Accounting	19,309
Human Resource Management	12,117
General Business/Commerce	9,137
Finance & Financial Management	5,784
Marketing	4,011
Management Information Systems	2,766
International Business	2,007
Entrepreneurial Studies	1,823
Taxation	1,350
Hospitality Management	1,341
Real Estate	1,280
Other Business, Management & Marketing	1,073
General Sales & Marketing	537
Construction Management	466
Specialized Sales, Merchandising & Marketing	180
Business/Managerial Economics	162
Insurance	143
Business/Corporate Communications	117
Telecommunications Management	23

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• 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.