What Is Management Science? + How to Enter This Field

Management science, grounded in operations research, uses analytical and statistical methods, among other techniques, to address practical issues in areas like engineering, logistics, and forecasting. Essentially, the skills learned in management science are transferable to various industries. Learn more about management science, including strategies for starting this field.

What is management science?

Management science is the study of problem-solving and decision-making in organizations. You can think of it as applying the scientific method to management, enabling managers to make decisions for an organization and improve its performance. For example, health care facilities can use management science to determine the necessary information systems, while airlines can use it to schedule planes and crew.

Management science is important because it helps organizations identify issues they must solve, streamline management efforts, use resources more effectively, and develop roadmaps for achieving goals. Several assumptions or principles of management science guide professionals in this field, including: 

• Problem-solving is central to management. 

• Managerial problems can be effectively quantified and described in mathematical terms. 

• Mathematical tools, techniques, simulations, and models can enhance problem-solving.

Originating from operations research, management science is interdisciplinary, involving two or more academic or professional disciplines. Disciplines that management science intersects with include engineering, game theory, psychology, project management, data science, and supply chain management. 

Did you know? Operations research, management science’s predecessor, came into being during World War II (WWII) when the Allied Forces (Great Britain, the United States, and the Soviet Union) used mathematical models to improve military operations.

In your research into management science, you may come across similar terms like scientific management or business analytics. Note their distinctions in the table below: 

Who uses management science?

With a degree in management science, you can work in a variety of fields, from marketing and branding to finance, human resources, and data science. According to job site Zippia, the average median US salary for management science graduates is $68,844, with the top 10 percent earning over $120,000 [1]. The most popular job titles include:

• Business analyst: Studies the market, determines a business’s profitability, and identifies solutions to a business’s challenges 

• Data analyst: Gathers and interprets data, highlights important trends, and reports findings to an organization’s management 

• Actuarial analyst: Works in the insurance industry and uses data analysis and statistical modeling to calculate the probability and risk of events like death, accidents, and property damage 

• Finance analyst: Assesses the performance of stocks, bonds, and investments to advise businesses and individuals on their investment decisions

• Programmer analyst: Tests, analyzes, and maintains software applications to help businesses achieve their goals 

• Risk analyst: Analyzes financial documents and economic conditions to determine the risk involved in business decisions and planned activities 

• Research analyst: Collects data from varied sources to help organizations determine target markets and ideal pricing for products and services

Your management science career path 

If you want to draw from multiple disciplines to solve business problems, take on a leadership role, and use analytical and critical thinking skills, management science could be an aligned career path for you. 

Start by considering the following steps:

1. Get a management science degree.

Getting a degree in management science or a related field, such as business statistics or international marketing, can expose you to the important concepts, methods, skills, and techniques for pursuing a rewarding career. Depending on the degree program, you can expect to take courses in statistics, financial accounting, systems analysis, data analysis, research design, statistics, marketing, operations research, decision risk analysis, and more. 

When researching management science degree programs, decide what criteria will make a program a good fit for you. You may find it useful to investigate programs’ rankings. For example, Universities.com ranks the management science programs at the University of Pennsylvania, Cornell University, Washington University in St. Louis, the University of Miami, and the University of Southern California as the top five in the US as of 2024 [2]. Rankings are based on such factors as:

• The diversity of the student body

• Retention and graduation rates

• Student-faculty ratio

• Percentage of tenured or tenure-track faculty 

How much can you earn with an MBA in Management Science?

With a Master of Business Administration (MBA) in management science, you can earn approximately $92,000 per year [3]. A Master of Science (MS) degree in the same field can yield $111,000 annually [4].

2. Hone your management science skills. 

In addition to earning your degree, you can benefit from continuing to build skills, knowledge, and industry insight in the broad field of management science. In continuing your education, you can better narrow down an area of focus or identify a specific career track for applying your management science training, such as data science or project management. 

The following are four approaches you can take based on your interests and career goals: 

• Become a member of the Institute for Operations Research and the Management Sciences (INFORMS). 

• Attend INFORMS conferences and events, take the organization’s professional development courses, and consider becoming a Certified Analytics Professional. 

• Attend conferences from other organizations listed on Conference Index. 

3. Build a management science resume. 

Once you decide on a focus area or specific career track, the next step is to build a resume representing your capabilities. Be sure to list your education, certifications, specific skills, conferences you’ve attended, memberships in professional organizations, and other qualifications. 

4. Apply for management science jobs. 

Start by researching current job openings on various career sites, including general sites like Glassdoor, Indeed, or LinkedIn. Try search queries like “management science careers,” “management science jobs,” “management scientist,” or roles in your chosen area of focus.

For each job listing, pay close attention to salary information, qualifications required, and the tasks and responsibilities you’d be responsible for. Tailor your resume to each position. Practice interviewing skills like answering different types of questions and researching a company. 

Learn management science with Coursera.

Management science employs a scientific approach to solving management challenges and supporting effective decision-making. Taking online courses can be a great way to gain some knowledge and skills in management science before or while pursuing a bachelor’s or advanced degree in this field.

If you’re ready to pursue an advanced degree, check out the Master of Science in Management program from the University of Illinois. 

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