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M.S. and Ph.D. in Management Science

The Management Science programs at the Stuart School of Business in Chicago have tracks in Quantitative Finance and Analytics, which prepare graduates to identify pressing issues facing the business community, structure problems and gather data, and present strategic, impactful solutions. Stuart’s emphasis on quantitative methods, analytical tools, and computer models helps students master a data-intensive approach to management science in the fields of business, finance, and management.

International students enrolled in any Stuart Management Science program will be eligible to apply for the STEM optional practical training (OPT) extension through the U.S. Department of Homeland Security. 

At the master's level, students will gain the skills and knowledge needed for mid-level careers as business analysts, data managers, and directors. At the Ph.D. level, student have the opportunity to work closely with expert faculty across all programs on cutting edge research, to prepare for careers in both industry and academia. Both programs can be completed full-time or part-time. In fact, Stuart’s Ph.D. is the only post-graduate business program in the Chicago area that is offered on a part-time basis.

Given the prescribed sequence of required M.S. and Ph.D. program courses in the first year of study, new students are only admitted in the fall semester of each year. 

M.S. Program Snapshot

  • Available program concentrations: Quantitative Finance OR Analytics
  • 8 core courses
  • 3 elective courses
  • 33 total credit hours
  • No thesis required

Degree typically takes 2 years of full-time study or 4-5 years of part-time study

View available courses and course descriptions. 

M.S. Program Admission Requirements

  • Completed online application
  • M.S. applicants must have completed an undergraduate degree
  • A competitive score on GMAT (650 or above) or GRE (316 or above) is required for admission 

M.S. 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.

Ph.D. Program Snapshot

  • Available program concentrations: Quantitative Finance OR Analytics
  • 18 core courses 
  • 18 concentration requirements
  • 24 credits of dissertation research
  • 60 total credits + non-credit TA seminar
  • Qualifying exam upon completion of six core courses
  • Comprehensive exam upon completion of six advanced core and advanced elective courses
  • Submission and oral defense of dissertation

Degree typically takes 5 years of full-time study. The degree can also be completed part-time. Students studying part-time can expect to fulfill degree requirements based on credits per semester and time spent on dissertation development. 

View available courses and course descriptions. 

There are four study tracks available for admission into the Ph.D. program:

  • Master's Degree Track (for students with a Master’s degree before admission to PhD program) with Finance Concentration: 60 credits
  • Master's Degree Track (for students with a Master’s degree before admission to PhD program) with Analytics Concentration: 60 credits
  • Undergraduate Degree Track (for students with an undergraduate degree before admission to PhD program) with Finance Concentration: 78 credits
  • Undergraduate Degree Track (for students with an undergraduate degree before admission to PhD program) with Analytics Concentration: 78 credits

Ph.D. Admission Requirements

  • Completed online application
  • A competitive score on GMAT (650 or above) or GRE (316 or above) is required for admission 
  • Professional Statement
  • 3-4 letters of recommendation from professors or employers