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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

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:

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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

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

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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

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

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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?

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?

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. According to recent stats this major attracts about equal numbers of men and women. 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

Americans aren’t the only ones with an interest in Management Science. 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

According to 2017-2018 data from the U.S. Department of Education, students who graduated with a master’s degree in management science have a median salary of $83,800 during the early years of their career. During this timeframe, most salaries fell between $72,550 (25th percentile) and $94,400 (75th percentile).

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We don’t know for sure if all of these people took jobs related to management science so take that into consideration.

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 the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

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

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.

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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 the 2018-2019 academic year, 457 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) 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 410,147
Accounting 105,123
General Business/Commerce 58,451
Finance & Financial Management 56,186
Marketing 51,241
Human Resource Management 26,823
Business Support & Assistant Services 19,483
Hospitality Management 19,042
Management Information Systems 14,747
Entrepreneurial Studies 10,427
International Business 10,181
Business/Managerial Economics 6,345
Specialized Sales, Merchandising & Marketing 5,873
Other Business, Management & Marketing 5,834
General Sales & Marketing 5,734
Real Estate 5,700
Construction Management 3,664
Insurance 2,218
Taxation 1,783
Business/Corporate Communications 968
Telecommunications Management 71

References

More about our data sources and methodologies.

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