Career Outlook for Individuals with a Degree in Management ScienceCareer News February 16, 2016
Generally, studying a degree program in management sciences offers you knowledge and skills in administrative and technical work. However, before you pursue the program, it is important for you to read this article to learn what education requirements are expected, the job outlook for graduates of this program as well as the expected salary once you get a job related to the program.
Information for those with a Management Science Degree
Management Sciences as a degree program is broad. It focuses mainly on innovative technologies, especially technological inventions that may assist a company in financial accounting, management communications and systems analysis. In advanced levels of the degree program, students specialize in areas such as operations research and risk analysis. Additionally, students should expect to do coursework involving quality control programs, managing supply chains and decision support systems. Of more importance, this course demands a lot of critical thinking and analytical skills.
|Career||Operation Research Analyst||Executives|
|Education details||Bachelor’s degree||Bachelor’s degree|
|Estimated job growth rate||30%||6%|
|Average salary in 2012||$76,660||$102,750|
Professions you can pursue with a Management Science Degree
Generally, a Bachelor’s degree in Management Systems is enough to get you a decent paying job in a relevant field. However, should you further your studies; you are likely to get a higher paying job still in the same career path. All in all, the following career paths are what most graduates of Management Sciences join after training:
Operations Research Analyst
They generally study and make findings of how to reduce operational costs for business organizations and also come up with ideas on how to maximize efficiency in the different departments of the organization. Their findings usually come from assessing existing data and statistics, after which they make necessary recommendations to their employer companies. Operational research analysts also use complex computer programs to invent new ways of increasing efficiency in the business organizations that they work for.
After graduation, an operations research analyst may choose to either become a private consultant or seek employment in organizations or government agencies such as the military. Note, while a bachelor’s degree may offer a job in any of these sectors, most employers prioritize applicants with either a master’s degree or additional experience in the field. The U.S. Bureau of Labor Statistics (BLS) estimate that jobs for operation research analysts are likely to grow at a rate of 30% up to the year 2022. On the other hand, the average salary for these professionals was $76,660.
First, these positions are reserved for highly experienced professionals, preferably with a master’s degree in management sciences or higher. Their work involves making decisions that will help achieve the company’s goals and targets. They also assist with assessing the company’s goals and rewriting operational protocols. Also, it is possible to join top executive positions with graduate degrees in any field. The BLS estimates that most executives earned an average annual salary of $102,750 in 2012. Finally, the career is expected to grow at a rate of six percent up to the year 2022.