PhD in Management Science

Management Science and Analytics (Ph.D.)

Develop high-level quantitative, modeling, and analytical expertise that prepares you for careers in academia, research, industry, and consulting.

The Ph.D. in Management Science and Analytics program prepares graduates to identify pressing issues facing the business community, structure problems and gather data, and create innovative, impactful analysis and solutions.

Emphasizing both analysis and synthesis, the program delivers a comprehensive, advanced education in how to apply quantitative methods, analytical tools, and computer models to complex decision-making in business, finance, and other disciplines.

Through specializations in quantitative finance and analytics and rigorous dissertation work, students master a data-intensive approach to management science and research methodologies that can be applied to any aspect of business.

This program is selective and small, offering a high degree of mentorship and interaction between faculty and students, with ample opportunities to conduct cutting-edge research alongside faculty experts.

After completing all the required Ph.D. coursework and the Ph.D. qualifying and comprehensive exams, students often gain practical experience through internships, which creates new opportunities to analyze data and case studies that are potentially useful for pursuing a doctoral dissertation. Students are also encouraged to serve in teaching and research assistant positions to gain valuable teaching or practical research experience.

Our doctoral students gain relevant, cross-disciplinary experience that prepares them to be business innovators and leaders in academia, industry, government, and consulting.

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, which allows selected students to stay and work in the United States for up to three years after graduation.

Program Overview

The Ph.D. in Management Science and Analytics program focuses on developing sophisticated research, quantitative, and analytical skills that students can apply to create innovative, impactful solutions to challenges in any area of business. Mentored by Stuart faculty, our graduates have the rigorous academic preparation and practical experience to thrive in business and academic careers.

Career Opportunities

Ph.D. graduates from Stuart School of Business are prepared to excel at careers in academia as well as executive and management positions in the business, government, and consulting sectors.

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

  • Amazon
  • BMO Harris
  • Carnegie Mellon University
  • City University of New York
  • Commercial Bank of China
  • Discover Financial Services
  • East China Normal University
  • Efficient Capital Management
  • Envestnet Asset Management
  • Federal Home Loan Bank
  • Industrial and Commercial Bank of China (ICBC)
  • Kean University (New Jersey)
  • Morgan Stanley
  • Wells Fargo
Disclaimer for prospective students, please read.
The information provided is sourced from a third party, Lightcast, and is provided here for informational and educational purposes only. Please be advised that the inclusion of the Lightcast resource on this website does not imply endorsement by Illinois Institute of Technology (Illinois Tech), nor is it a guarantee of the accuracy of this information. Illinois Tech makes no representation, warranty or guarantee, express or implied, that the information presented herein is reflective of the outcomes you can expect if you enroll in or graduate from an Illinois Tech program. Illinois Tech expressly disclaims any liability regarding Lightcast, or in connection with any actual or potential employment opportunity stemming from information on this site and you hereby irrevocably waive any claim(s) against the Illinois Tech for the same. Your use of this web page is an acknowledgement of your understanding and acceptance of the terms and conditions set forth herein. You are encouraged to conduct your own thorough research into job opportunities and outcomes in your field of study.

The program’s courses provide knowledge and skills in data-intensive methods to analyze business problems. Through rigorous, practice-oriented dissertation research, students learn approaches for structuring complex business problems, gathering data, and generating innovative solutions.

View Details

  • Completed Online Application
  • Official transcript submission with a minimum cumulative grade-point average of 3.0 on a 4.0 scale
  • GMAT or GRE scores are required
  • A one-page statement of purpose, with goals and objectives
  • Three to four letters of recommendation from professors or employers
  • English proficiency exam, if required

Given the prescribed sequence of required courses, new students are only admitted in the fall semester of each year.


The Stuart Doctoral Scholarship is available for select students pursuing a Ph.D. in Management Science and Analytics. Scholarship values vary; in academic year 2023–24 the maximum award is $25,500 ($425 per credit hour, with a maximum of 60 credit hours of coverage) and the Doctoral Scholarship may only be applied toward Stuart tuition charges. Read more about Stuart scholarship opportunities and tuition and fees:

Stuart Scholarships   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.

Sang Baum Kang

Mentors and Colleagues in Research

Stuart School of Business faculty are not just research mentors for doctoral students. Frequently they are colleagues with their students and recent graduates on research papers published in top scholarly journals. See a list of recent research collaborations and use the link below to learn more about the vibrant research community at Stuart.

Research at Stuart

“The Stuart professors are among the most professional academics I have ever met and their commitment to my personal and professional growth was among the best I have experienced. I learned what is required to conduct high-quality research and became a trained academic. I will carry with me many faculty connections that will be beneficial to my professional development for the rest of my life.”

— William Gogolak (Ph.D. MSC ’22), Assistant Teaching Professor, Carnegie Mellon University

William Gogolak

“My academic experience at Stuart equipped me with the quantitative skills and passion for academic research that are vital in advancing my career. The curriculum and courses helped me build comprehensive knowledge about both theoretical and empirical finance.”

— Xinting Zhen (Ph.D. MSC ’18), Assistant Professor of Business Administration, Saint Michael’s College

Xinting Zhen

Stuart Stands Out


Career Placement Rate

—Stuart School of Business 2022 master’s and Ph.D. graduates reporting

AACSB logo

Stuart is AACSB Accredited. Only 6% of Business Schools Globally Are.

—Association to Advance Collegiate Schools of Business International


Your Choice: Complete Your Ph.D. Full-time or Part-time

Experiences to Build Your Career Path

  • Assistantships with Stuart faculty members provide opportunities for Ph.D. students to take on roles in the classroom, research, or academic program administration.
  • Program Director Siva K. Balasubramanian works closely with doctoral students interested in academic careers to arrange adjunct teaching positions at universities and colleges in the Chicago area.
  • For students looking toward careers in industry, nonprofit organizations, and government, Illinois Tech’s unique Elevate program guarantees opportunities for internships and other hands-on experiences.

Featured Faculty

Siva Balasubramanian
Associate Dean Director, Management Science Programs and Faculty Review Harold L. Stuart Endowed Chair in Business Professor of Marketing
Yiwei Fang
Associate Professor of Finance
Smriti Anand
Assistant Director, Master of Business Administration Professor of Management
Haizhi Wang
Professor of Finance
Ben Van Vliet
Assistant Program Director Associate Professor of Finance Director, Center for Strategic Finance
Liad Wagman
John and Mae Calamos Dean Endowed Chair Professor of Economics Affiliate Professor, Lewis College of Science and Letters
Li Cai
Associate Professor of Finance
Ricky Cooper
Director, Ph.D. in Finance Director, M.S. in Finance Director, M.S. in Financial Economics Associate Professor of Finance
Sang Baum Kang
Assistant Director, Undergraduate Programs in Business Associate Professor of Finance
Priyanka Sharma
Associate Professor of Economics
Seungho Baek and John F.O. Bilson

Research that Creates Knowledge

The example of faculty research at Stuart led Seungho Baek (Ph.D. MSC ’13) to pursue an academic career. “The Stuart Ph.D. program creates an environment where students can freely knock on professors’ office doors,” says Baek, shown here celebrating graduation with his thesis adviser, Professor of Finance John Bilson.

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Flexibility to Pursue a Master’s or Doctorate

Students’ career objectives can change while they are in graduate school and the Stuart School of Business programs in management science and analytics provide flexibility for students:

  • Students who initially enrolled in the M.S. program in Management Science and Analytics may subsequently apply to the Ph.D. in Management Science and Analytics program. If admitted, students can apply the core courses in management science that they have already completed toward their Ph.D. program.
  • A Ph.D. in Management Science and Analytics student who has completed 33 graduate credits in the program may choose to graduate with an M.S. in Management Science and Analytics degree, instead of completing the Ph.D. in Management Science and Analytics degree.

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.