Quantitative analysis is the application of mathematical and statistical modeling and research to measure the efficiency of a business’ operations. As such, an online MBA in quantitative analysis program offers in-depth study of business operations, including accounting and management, and training in research and applied statistics. Graduates of this program should be able to analyze and determine solutions for complex business problems, make economically responsible decisions, and work with effectively with others. These skills can make you a valuable member of any organization since your expertise can directly influence a business’ financial success.
What Does an MBA in Quantitative Analysis Cover?
Similar to other MBA programs, a quantitative analysis curriculum features courses in managerial accounting, marketing strategies, financial management, and corporate leadership. These courses are an important part of a students’ education because they need to understand the functions of business if they’re going to be interpreting and suggesting changes based on data. Depending on the student’s academic background they may need to take business law, economics for business, human behavior in organizations, and other foundational classes.
A quantitative analysis specialization may include courses such as management science through spreadsheets, applied statistics for managers, market research, and computer simulation and modeling. Students in the management science through spreadsheets learn how to use linear, nonlinear, integer, and goal programming techniques commonly used in operations research. Meanwhile, an applied statistics course covers the statistical tools and techniques used in the business environment. These courses facilitate the development of the analytical skills students will need to succeed as professionals.
Getting Into a Quantitative Analysis MBA Program
Admissions requirements vary by school. Student need to send in at least an admissions application and all college transcripts, as well pay an application fee. Other schools may require letters of recommendation, a personal essay, or a resume. In some cases potential students may also have to participate in an admissions interview with a member of the college’s faculty before they’re admitted.
- Admissions application and fee
- All relevant transcripts
- GRE or GMAT scores
- Current Resume
- Statement of Purpose or personal essay
- Letters of recommendation
Why Should I Get an AACSB Accredited Quantitative Analysis MBA?
The Association to Advance Collegiate Schools of Business (AACSB) is a nonprofit membership organization that awards accreditation to colleges that meet a certain standard of academic quality. Accreditation is important because it demonstrates that a program provides high-quality training to students so they are prepared to work effectively in a professional environment. This may be particularly important for employers who need the assurance that the person their hiring is capable of doing their job. The AACSB accredits more than 650 institutions in nearly 50 countries, and it provides a list of approved schools on its website.
Who Should Pursue a Quantitative Analysis MBA?
Students who have an affinity for mathematics and statistics and want to apply their skills to solving business problems should consider enrolling in a MBA program in quantitative analysis. Professionals who are already employed as market or business analysts will find a lot of use out of this program as well because it will give them the skills and credentials they need to qualify for more management positions. Although this degree program is specialized it can lead to employment in a wide variety of roles in different industries, including finance, information, marketing, and trade. Earning this degree online gives working students the chance to earn a degree without having to set aside time in their day to attend class on campus.
What Jobs Can an MBA Quantitative Analysis Online Get Me?
- Operations Research Analyst: Operations research analysts use mathematical and statistical methods of analysis to determine problems in a business’ operations, such as in production or sales. They gather information from databases and other sources, interview workers involved with the problem, and determine solutions to these issues. Many organizations require a master’s degree for this position but there are entry-level jobs available for those who have an undergraduate degree, according to the U.S. Bureau of Labor Statistics (BLS). Analysts earned a mean annual salary of $78,840 in May 2011, the BLS reports. The BLS states that employment in this field is expected to grow 15% from 2010 to 2020, which is about as fast as average for all occupations.
- Management Analyst: An MBA in quantitative analysis could also lead to a career as a management analyst. Similar to operations research analysts, management analysts focus on finding ways to improve a business’ efficiency. They gather data and interview employees, analyze financial records and employment reports, develop solutions, and suggest new procedures or ways to address the problem. Management analysts made an average salary of $87,980 in May 2011, the BLS reports. Although competition for these jobs will be high due to the salary, employment in this industry is still expected to grow 22% from 2010 to 2020, according to the BLS.
- Market Research Analyst: Market research analysts gather and analyze data about consumers and competitors to predict marketing and sales trends. They research their company’s competitor’s prices and marketing methods and use the information to determine potential demand and pricing. Most market research analysts need a bachelor’s degree, but those interested in working in advanced positions typically need a master’s degree. The average salary earned by market research analysts was $67,130 in May 2011, the BLS reports. Employment in this occupation is expected to increase 41% from 2010 to 2020 due to a growing trend of companies using consumer behavior research to develop marketing strategies. Keep in mind these statistics are no guarantee of actual salary or the availability of employment, which is determined by location, employer, the condition of the economy, and more.
Top Earning Industries for Jobs
- Management Consulting: $56,507-$110,189
- Government Contractor: $59,317-$106,770
How Do I Find Online Quantitative Analysis MBA Programs?
There a few resource you can use to find a quantitative analysis MBA program. You can start with the U.S. News & World Report, which provides an annual ranking of the top online graduate business programs. You can also search for the top online MBA programs at the Online Education Database.