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Management Science Major

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Management Science

5,585 Bachelor's Degrees Annually
15,708 Master's Degrees Annually
#14 in Popularity
$103,330 Median Salary

Types of Degrees Management Science Majors Are Getting

The following table lists how many management science graduations there were in 2020-2021 for each degree level.

Education Level Number of Grads
Master’s Degree 15,708
Bachelor’s Degree 5,585
Graduate Certificate 1,222
Basic Certificate 822
Doctor’s Degree 91
Associate Degree 42
Undergraduate Certificate 40

What Management Science 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

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

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  • 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.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • 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.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Skills for Management Science Majors

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

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  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • 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.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Abilities for Management Science Majors

As a management science major, you will find yourself needing the following abilities:

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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 Science Major?

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

Job Title Job Growth Rate Median Salary
General and Operations Managers 9.1% $100,930

Who Is Getting a Bachelor’s Degree in Management Science?

5,585 Bachelor's Degrees Annually
40% Percent Women
32% Percent Racial-Ethnic Minorities*
This major attracts more men than women. About 60% 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:

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Race/Ethnicity Number of Grads
Asian 676
Black or African American 297
Hispanic or Latino 594
White 3,107
International Students 573
Other Races/Ethnicities 338

Geographic Diversity

Americans aren’t the only ones with an interest in Management Science. About 10.3% of those with this major are international students.

How Much Do Management Science Majors Make?

Salaries According to BLS

Management Science majors often go into careers where salaries can range from $88,350 to $123,880 (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 Science Major  ( 88350 to 123880 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

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) 5.1%
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) 3.0%
Some College Courses 7.5%
Associate’s Degree (or other 2-year degree) 4.2%
Bachelor’s Degree 25.0%
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. 10.4%
Master’s Degree 22.5%
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. 4.4%
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. 0.7%
Doctoral Degree 17.6%

Online Management Science Programs

In 2020-2021, 336 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) 0 0
Certificate (1-2 years) 2 0
Certificate (2-4 Years) 1 1
Associate’s Degree 8 2
Bachelor’s Degree 82 30
Post-Baccalaureate 0 0
Master’s Degree 196 41
Post-Master’s 9 0
Doctor’s Degree (Research) 20 2
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Management Science Worth It?

The median salary for a management science grad is $103,330 per year. This is based on the weighted average of the most common careers associated with the major.

This is 159% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,268,600 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
Other Management Sciences and Quantitative Methods 13,371
Business Statistics 4,295
Actuarial Science 2,206

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.

More about our data sources and methodologies.

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