Following numerous discussions with employers, alumni, and students, the Master of Science program in Management Science and Engineering was developed and constructed. Addressing problems, making decisions, and controlling risks in complex systems, stresses both management, and engineering viewpoints. Students enrolled in this degree program will receive extensive training in optimization and stochastic modeling, as well as a broad understanding of applications in operations engineering and management.
Graduates of this program are expected to work as analysts and associates in consulting firms, business analysts in large corporations’ logistics, supply chain, operations, or revenue management departments, and financial analysts in investment banks, hedge funds, credit card companies, and insurance firms (e.g. risk management).
- While guiding people who innovate, the curriculum stresses strengthening analytic abilities, making better judgments, and establishing and executing plans.
- The MS&E program prepares students for careers in math, engineering, and behavioral science. They can build better systems, organizations, and work processes by conducting experiments.
- Financial Analytics, Operations and Analytics, Technology and Engineering Management, Computational Social Science, Decision and Risk Analysis, Energy and Environment, and Health Systems Modeling are some of the available concentrations.
- The majority of students finish the program in five academic quarters, plus a summer internship, for a total of 18 months. The MS, on the other hand, can be completed in one academic year (three quarters) of full-time work.
The Advantages of an MS in Management Science and Engineering
Engineers with a master’s degree in management science and engineering are well-equipped to combine technical expertise with leadership, managerial, and financial acumen. The MS degree in Management Science and Engineering was designed for engineers who had strong logical problem-solving abilities but lacked some of the business and soft skills required in management. For busy professionals, earning these degrees online is a handy method to further their education.
1. Communication Skills: Speak Two Languages
Engineers with a master’s degree learn to communicate in two languages. They obtain an understanding of engineering processes and the production environment, as well as basic business principles.
MS engineers are well-equipped to tackle complicated difficulties relating to design, production, and business best practices. They are proficient in design, systems, human resources, marketing, supply chain, and leadership, and can bridge communication gaps between the production floor and the C-suite. They can put in place organizational processes.
2. Position Yourself for Success
Business, finance, and managerial positions have some of the biggest wage premiums for workers with a master’s degree, according to the Bureau of Labor Statistics. A master’s degree in engineering management can help you prepare for the next step in your career and that big raise. Students can engage in academic studies while also gaining relevant, real-world experience through classroom assignments and interaction with peers in these programs. They also learn how to lead effectively, manage human resources, and make critical decisions.
3. Increased Salary Expectations
In management and engineering, an advanced degree frequently leads to a higher salary. Engineers with master’s degrees may expect to earn between $106K and nearly $200K, according to the Bureau of Labor Statistics (BLS). Engineers’ job prospects are expected to improve, according to the BLS. According to Usnews.com, full-time MS graduates in 2016 will earn between $81K and $126K in the charity sector and up to $126K as consultants. CEOs and CFOs are likely to make considerably more money.
4. Increase Your Skill Set
Customer needs are met, business models are developed, organizational goals are developed, innovation is implemented, and engineering-specific human resource techniques are implemented by a professional with both degrees.
This combination can be powerful insurance against any economic downturn, company restructure, or organization merger if you’re worried about how to stand apart from the competition. Consider this as one method of being more recession-proof.
There’s no substitute for real-world experience when it comes to landing a terrific real-world job. Every MS student must complete a year-long consulting project for real clients, ranging from start-ups to Fortune 500 businesses. Students have these opportunities as part of the year-long Operations Consulting program. As you might expect, these experiences improve your marketability to future employers and have led to positions in consulting, financial services, technology, advertising, and communications media, as well as startups. Pricing, operations, optimization, and analytics are just a few examples of student projects.