Management Science (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 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.
This is a STEM-designated program, and international graduates of the program are eligible to apply for an extension for Optional Practical Training.
The Ph.D. in Management Science 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.
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:
- BMO Harris
- 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)
- Wells Fargo
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.
- Completed Online Application
- Official transcript submission with a minimum cumulative 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
- Professional statement
- Three to four letters of recommendation from professors or employers
- 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
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. Scholarship values vary; 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 scholarship opportunities and tuition and aid below:
Choose a Specialization
Learn how to apply sophisticated quantitative theory and techniques in areas of finance such as investments, banking, trading, and risk management.
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
“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.”
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.
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, who is now dean of Stuart School of Business.Read More
Move Your Career Forward
A global network of accomplished Illinois Tech alumni is available to engage with and support our students.
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 provide flexibility for students:
- Students who initially enrolled in the M.S. program in Management Science may subsequently apply to the Ph.D. program in Management Science. If admitted, students can apply the core courses in management science that they have already completed toward their Ph.D. program.
- A Ph.D. student in Management Science who has completed 33 graduate credits in the program may choose to graduate with an M.S. in Management Science degree, instead of completing the Ph.D. degree in Management Science.
Stuart Stands Out
Stuart is AACSB Accredited. Only 5% of Business Schools Globally Are.
—Association to Advance Collegiate Schools of Business International