Management Science (M.S.)

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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. The school leverages its location in Chicago’s downtown business district to offer opportunities for hands-on learning, networking, and career-focused events with employers.

Stuart School of Business graduates are ready to step into positions in business, finance, and management where they can use their skills to identify pressing issues and challenges, structure problems and gather data, and present strategic, impactful solutions.

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 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, data managers, and directors.

The program’s graduates are in positions at universities, organizations, and companies, such as:

  • Air Products
  • Bank of America
  • Benedictine University
  • BMO Harris Bank
  • Envestnet Asset Management
  • Illinois Tech
  • Northeastern Illinois University

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

View Details

  • Completed Online Application
  • Master of Science in Management Science applicants must have completed an undergraduate degree
  • Official transcript submission with a minimum cumulative undergraduate GPA of 3.0 on a 4.0 scale
  • GMAT or GRE score within five years of testing date. Required scores for consideration: 316 GRE or 650 GMAT
  • 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 professional statement of goals and objectives
  • At least one letter of recommendation from an academic or professional reference

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

Master of Science students may apply for the Ph.D. program during the course of their studies; if admitted, the core courses in Management Science that have been completed will 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.

Read more about scholarship opportunities and tuition and aid below:

Graduate Scholarships   Tuition and Fees

Program Specializations

“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

Featured Faculty

Smriti Anand
Associate Professor of Management
Siva Balasubramanian
Associate Dean, Stuart School of Business Director, Management Science Programs and Faculty Review Harold L. Stuart Endowed Chair in Business Professor of Marketing
John Bilson
John and Mae Calamos Stuart School of Business Dean Endowed Chair Director, M.S. in Finance Professor of Finance
Haizhi Wang
Professor of Finance
Liad Wagman
Professor of Economics
Priyanka Sharma
Associate Professor of Economics
Ricky Cooper
Assistant Director, M.S. in Finance Associate Professor of Finance
Ghazale Jafari Haddadian
Clinical Assistant Professor of Operations and Energy Management
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

Stuart Stands Out


Rank in the U.S. of the M.S. in Management Science Program

—TFE Times (2021)

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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