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Management Sciences & Methods Major

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Management Sciences & Methods

12,583 Master's Degrees Annually
102 Doctor's Degrees Annually
#17 in Popularity (Master's)
$92,600 Median Salary

Types of Degrees Management Sciences & Methods Majors Are Getting

The following table lists how many management sciences and quantitative methods graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Master’s Degree 12,583
Graduate Certificate 1,451
Doctor’s Degree 102

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:

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  • 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

The following list of skills has been highlighted as some of the most essential for careers related to management science:

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  • 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

As you progress with your management science degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

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  • 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?

Below is a list of occupations associated with management science:

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?

12,583 Master's Degrees Annually
45% Percent Women
15% Percent Racial-Ethnic Minorities
This is one of the most frequently chosen graduate majors. It is the 17th most popular in the country with 12,583 students graduating with a master’s in management science in 2019. Roughly 45% of the graduates are women, and 55% are men.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of Management Science Students with Master's Degrees
Race/Ethnicity Number of Grads
Asian 864
Black or African American 394
Hispanic or Latino 463
White 2,987
International Students 7,399
Other Races/Ethnicities 476

Geographic Diversity

Students from other countries are interested in Management Science, too. About 58.8% 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

The median early-career salary of management sciences and quantitative methods students with a master’s degree is $83,800 a year according to 2017-2018 data from the U.S. Department of Education. During this timeframe, most salaries fell between $72,550 (25th percentile) and $94,400 (75th percentile).

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It’s important to note that just because the people reporting these salaries have a degree in management science, it does not mean that they are working in a job related to their degree.

Salaries According to BLS

Management Science majors often go into careers where salaries can range from $87,140 to $116,250 (25th to 75th percentile). 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.

Median Salary for a Management Sciences & Methods Major  ( 87140 to 116250 )
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Median Salary for a High School Graduate  ( 30000 to 57900 )
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Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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Some degrees 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.

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

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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 2018-2019, 457 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) 44 7
Certificate (1-2 years) 10 1
Certificate (2-4 Years) 1 1
Associate’s Degree 9 3
Bachelor’s Degree 91 28
Post-Baccalaureate 44 7
Master’s Degree 297 78
Post-Master’s 16 0
Doctor’s Degree (Research) 21 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!

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

Major Number of Grads
Business Administration & Management 135,757
Accounting 21,904
Human Resource Management 10,770
General Business/Commerce 10,236
Finance & Financial Management 6,277
Marketing 3,308
Management Information Systems 3,158
International Business 2,417
Entrepreneurial Studies 1,778
Taxation 1,611
Other Business, Management & Marketing 1,240
Real Estate 1,186
Hospitality Management 1,072
General Sales & Marketing 637
Construction Management 507
Business/Managerial Economics 267
Specialized Sales, Merchandising & Marketing 221
Insurance 173
Business/Corporate Communications 80
Telecommunications Management 38
Business Support & Assistant Services 0

References

More about our data sources and methodologies.

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