Types of Degrees Management Science Majors Are Getting
The following table lists how many management science graduations there were in 2019-2020 for each degree level.
|Education Level||Number of Grads|
What Management Science Majors Need to Know
In an O*NET survey, management science majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.
Knowledge Areas for Management Science Majors
Management Science majors often go into careers in which the following knowledge areas are important:
- 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
A major in management science prepares you for careers in which the following skill-sets are crucial:
- 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 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:
- 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?
Below is a list of occupations associated with management science:
|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?
At the countrywide level, the racial-ethnic distribution of management science majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||301|
|Hispanic or Latino||549|
Americans aren’t the only ones with an interest in Management Science. About 11.3% 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 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 Science
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)||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%|
|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%|
|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%|
Online Management Science Programs
In the 2019-2020 academic year, 302 schools offered some type of management science 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)||2||0|
|Certificate (2-4 Years)||1||1|
|Doctor’s Degree (Research)||17||3|
|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!
Explore Major by State
District of Columbia
Majors Related to Management Science
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||11,382|
*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.
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