M.S. in Management Science

Management Science (M.S.)

In our nationally-ranked program, you can develop the high-impact analytical and quantitative skills that drive business success.

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The Master of Science in Management Science is a rigorous program that prepares students to successfully analyze and solve complex business problems.

The program’s emphasis on quantitative methods, analytical tools, and computer models, with a choice of specializations in either quantitative finance or analytics, helps students master a data-intensive approach to management science attuned to the demands of the industry.

Through Illinois Tech’s one-of-a-kind Elevate program, you are guaranteed hands-on experiences throughout your graduate years, such as virtual and in-person internships, research projects, and more. You’ll also partner with a career adviser, academic mentor, and alumni coach to develop a personalized educational and career plan.

Chicago is a global financial center and home to a diverse range of industries, including a growing tech business sector. Stuart School of Business leverages its downtown location to offer students access to opportunities for internships, networking, and career-focused events with employers.

The result is career readiness that employers are seeking. Our management science graduates are ready to step into positions in business, finance, and management where they can use their knowledge and skills to create strategic, impactful solutions to pressing business challenges.

STEM-Designated Program

This is a STEM-designated program, and international graduates of the program are eligible to apply for an extension for Optional Practical Training.

Program Overview

The Master of Science in Management Science program, ranked #16 in the United States by TFE Times, teaches students to effectively use quantitative methods, analytical tools, and computer models to devise innovative solutions to complex problems in business, finance, and management.

Career Opportunities

In the Master of Science in Management Science program, students develop the skills and knowledge they need to be successful in mid-level careers as business analysts, consultants, and analytics and data managers and directors. Recent graduates have been hired by companies such as:

  • Bank of America
  • BMO Harris Bank
  • Clorox Company
  • Discover Financial Services
  • Envestnet Asset Management
  • Kellogg Company
  • POSCO America Corporation
  • Teladoc Health

The management science program’s curriculum includes core courses focused on mathematical economics, statistics, and modeling in management science, as well as courses in the student’s area of specialization (analytics or quantitative finance) and elective courses.

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  • Completed Online Application
  • Master of Science in Management Science applicants must have completed an undergraduate degree
  • Official transcript submission with a minimum cumulative undergraduate grade-point average of 3.0 on a 4.0 scale
  • No GMAT or GRE scores required
  • Official TOEFL or IELTS score, if required. A minimum score of 85 on the internet-based TOEFL, 600 on the paper-based TOEFL, or 7.0 on the IELTS exam is required for admission consideration
  • A one-page statement of purpose, with goals and objectives
  • At least one letter of recommendation from an academic or professional reference

This program may be completed full-time in as few as three semesters or part-time. Given the prescribed sequence of required courses, new students are only admitted in the fall semester of each year.

Master of Science students may apply for the Stuart Ph.D. in Management Science program during the course of their studies. If admitted, all credits already earned in the M.S. in Management Science program may be applied toward the Ph.D. program.


Domestic students pursuing the M.S. in Management Science program who seek to advance their careers in the Chicago-area market are eligible to apply for the Chicago Talent Pipeline Scholarship, which awards up to $14,000 spread evenly across the courses required for the degree.

International students pursuing the M.S. in Management Science program are eligible to apply for the Stuart School of Business Dean’s Scholarship, which awards up to $14,000 for the full two-year program.

Tuition and Fees

Choose a Specialization


Learn how to apply sophisticated quantitative theory and techniques in areas of finance such as investments, banking, trading, and risk management.

Marketing Analytics

Develop high-level expertise in leveraging, analyzing, and interpreting data for market research, logistics, and other data-intensive areas of business.

Get Hands-on with Management Science

Internship Opportunities at Stuart School of Business

Stuart students get a head start on their careers with internships at top companies such as CME Group, Eurex, Wintrust, and many others.

Stuart Investments for hands-on experience for Finance students

Learn by doing in Stuart Investments, the student-led organization where you can participate in equity research, valuation modeling, and portfolio management.

Finance competitions at Stuart School of Business

From risk management to equity valuation, Stuart students put their financial knowledge and skills to the test in national and international business competitions.

Move Your Career Forward

Alumni relations

A global network of accomplished Illinois Tech alumni is available to engage with and support our students.

Career development

Stuart’s Career Management Center offers individualized career counseling, resources for job and internship search, and opportunities to network with industry professionals.

“Participating on the Illinois Tech team in the CQA Investment Challenge was an awesome learning opportunity about complicated methods of investment, and was the best way to learn how to invest using quantitative methods. It comes down to being able to work with data.”

—Abhishek Singh (M.S. MSC ’19), Quantitative Analyst at Bank of America

Stuart Stands Out

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Only Business School in a Tech-Focused University in Chicago


Stuart is AACSB Accredited. Only 5% of Business Schools Globally Are.

—Association to Advance Collegiate Schools of Business International

Featured Faculty

Siva Balasubramanian
Associate Dean Director, Management Science Programs and Faculty Review Harold L. Stuart Endowed Chair in Business Professor of Marketing
Benjamin Van Vliet
Associate Director, M.S. in Finance Associate Professor of Finance Director, Center for Strategic Finance
Haizhi Wang
Professor of Finance
Liad Wagman
John and Mae Calamos Dean Endowed Chair Professor of Economics
Priyanka Sharma
Associate Professor of Economics
Ricky Cooper
Director, M.S. in Finance Associate Professor of Finance
Elizabeth Durango Cohen
Associate Professor of Operations Management M. Zia Hassan Endowed Professor Assistant Director, M.S. in Marketing Analytics Director, Center for Advancing Corporate Performance
Ghazale Jafari Haddadian
Clinical Assistant Professor of Operations and Energy Management
Stuart student conducting research

Tools for Research

The Financial Markets Research Lab at Stuart School of Business is designed to give students the tools they need to pursue high-level research in finance. The lab features 10 individual dual-monitor Bloomberg workstations, two large wall-mounted monitors for screen sharing, and the latest software and subscriptions to major business databases.