About a Master’s in Business Analytics (MSBA)
A Master’s in Business Analytics, often abbreviated to “MSBA” is a specialized Master’s program. It teaches you how to collect, organize, and interpret big data. You then go on to learn how to use this big data to make business decisions.
For example, in Finance, you’d use the data to see if a particular branch or subsidiary is too unprofitable — should you close it down? In Healthcare, you’d look at what happens when you introduce a new version of your drug — is it better or worse? But these days, MSBA grads are also going into industries nobody expected them to, like sports. Does one football player get a lot of fouls when he plays on the right? The coach will switch him to the left.
An MSBA is a very quantitative (number-heavy) course and requires advanced mathematical skills. Additionally, you’d have to be good at coding in at least two languages (python and R), as these are essential tools for data analysis.
For now, let’s start at the beginning —where you should study your MS in Business Analytics.
Top countries to study an MSBA
We’ve thoroughly examined the 2024 QS Ranking list for MSBA programs, and other similar ranking systems. What we’ve found is that 80%+ of the top universities for an MS in Business Analytics are located in the following countries.
- The United States
By far, the US is the best place to study your MS in Business Analytics abroad. 4 of the top 10 universities for an MSBA are in the US and so are 20 out of the top 50. Notable names are MIT, UCLA, Texas McCombs, and USC.
Read About: MS in Business Analytics in USA for Indian Students [Complete Guide]
- The United Kingdom
21 of the 149 top universities for an MS in Business Analytics were located in the UK. The best MSBA programs in the UK are held at universities like Imperial, UManchester, and the University of Edinburgh (UoE).
- France
Three of the global top universities for an MS in Business Analytics are located in France, which is also known to be a high-finance hub. Namely ESSEC, ESCP, and HEC Paris. Other than those, 11 of the 149 top MSBA programs in the world are from French Universities.
- Canada
Canadian universities also have MSBA programs that are very highly regarded. These include the likes of UToronto, McGill University, and HEC Montreal. HEC Montreal is the overseas campus of HEC Paris, which we mentioned above.
- Australia
Just like Canada, six universities from down under also make it to the list of the top MSBA programs in the world. The Melbourne Business School is the highest-ranked (Australian) university on the list, at #15 out of 149.
As you can see, the United States leads the lineup of the top universities for an MS in Business Analytics. Even if you combine the universities from the other four countries, the US still comes out on top. As a result, we can say that the best country to study an MSBA in is the United States.
Top universities in the world for an MSBA
Now, let’s take a look at exactly which colleges are the best in the world for an MSBA. Here are the top 25, according to the QS World University Rankings for 2024.
| Rank | University | Location | School Name | Program |
| 1 | UCLA | Los Angeles (CA), United States | Anderson School of Management | Master of Business Analytics |
| 2 | MIT | Cambridge (MA), United States | Sloan School of Management | Master of Business Analytics |
| 3 | ESSEC/CentraleSupélec | Paris, France | ESSEC Business School | Master in Data Sciences & Business Analytics |
| 3 | Ecole Polytechnique/ HEC Paris (Dual) | Paris, France | Master of Science and Technology in Data Science for Business | |
| 5 | Duke | Durham (NC), United States | Fuqua School of Business | Master of Quantitative Management: Business Analytics |
| 6 | Imperial College | London, United Kingdom | Imperial College Business School | MSc Business Analytics |
| 7 | ESCP | Paris, France | ESCP Business School | MSc in Big Data & Business Analytics |
| 8 | IE University | Segovia, Spain | IE Business School | Master in Business Analytics and Big Data |
| 9 | The University of Texas | Austin (TX), United States | McCombs School of Business | Texas McCombs Master of Science in Business Analytics |
| 10 | NUS | Singapore, Singapore | NUS Business School | Master of Science (Business Analytics) |
| 11 | USC | Los Angeles (CA), United States | Marshall School of Business | Master of Science in Business Analytics |
| 12 | The University of Toronto | Toronto, Canada | Rotman School of Management | Master of Management Analytics |
| 13 | McGill University | Montreal, Canada | Desautels Faculty of Management | Master of Management in Analytics |
| 14 | The University of Warwick | Coventry, United Kingdom | Warwick Business School | MSc Business Analytics |
| 15 | The University of Melbourne | Melbourne, Australia | Melbourne Business School | Master of Business Analytics |
| 16 | The University of Washington | Seattle (WA), United States | Foster School of Business | Master of Science in Business Analytics |
| 17 | The University of Manchester | Manchester, United Kingdom | Alliance School of Business | MSc Business Analytics |
| 18 | Esade Business School | Barcelona, Spain | – | MSc in Business Analytics |
| 19 | The Monterrey Institute of Technology (ITESM) | Monterrey, Mexico | EGADE Business School | Master in Business Analytics |
| 20 | Erasmus University | Rotterdam, Netherlands | Rotterdam School of Management | MScBA Business Analytics and Management |
| 21 | Purdue | West Lafayette (IN), United States | Krannert School of Management | MS Business Analytics and Information Management |
| 22 | The University of Edinburgh | Edinburgh, United Kingdom | University of Edinburgh Business School | Masters In Business Analytics |
| 23 | The University of Minnesota | Minneapolis (MN), United States | Carlson School of Management | Master of Science in Business Analytics |
| 24 | Singapore Management University (SMU) | Singapore, Singapore | School of Information Systems | Master of IT in Business |
| 25 | Boston University | Boston (MA), United States | Questrom School of Business | Master of Science in Business Analytics (MSBA) |
Note: The London School of Economics (LSE) also offers an MS in Operations Research and Business Analytics, which is also quite highly ranked (~15 globally). However, it is more geared towards operations research, so we haven’t included it here.
Next, we’ll give you an idea of what you’ll be studying as part of an MS in Business Analytics.
Also Read: GradRight’s Study Abroad Guide for Indian Students
Course curriculum for an MS in Business Analytics
While each university tailors its offerings, some common topics and courses frequently appear in these programs. And we’ve compiled the data, so you don’t have to — here’s what you can expect to study during your MS in Business Analytics.
| Core Curriculum Components | Skills Acquired | Description |
| Statistical Analysis & Quantitative Methods | The ability to analyze/interpret complex sets of data. | This type of module appeared in all 7 curriculums we reviewed. Students learn to collect and process data, understand it, and use this understanding to make informed business decisions. |
| Machine Learning & Advanced Analytics | How to use predictive models and computer algorithms for data analysis. | Found in all 7 programs, this topic covers both supervised and unsupervised learning to predict outcomes and automate responses based on data. |
| Programming for Data Science | Learning computer skills (Mainly Python and R) that are used for data analysis. | Included in all 7 curriculums, this component equips students with the programming tools necessary for effective data analysis. |
| Data Management & Big Data Technologies | Learning how to use SQL databases for things like data structuring, storage, and retrieval in the most efficient way possible. | Featured in 6 of the 7 programs, these courses focus on the efficient handling and storage of data using modern technologies like SQL and NoSQL databases. |
| Optimization Techniques | Learn how to take data insights and improve the day-to-day operations of businesses. Key tools used are linear and nonlinear math models. | Taught in 6 out of 7 programs, these courses help find the most efficient ways to allocate resources and streamline operations. The main skill here is using various mathematical models. |
| Business Ethics & Data Governance | Focus on ethical considerations and governance in the use of data. | Covered in 5 of the 7 curriculums, these modules focus on the ethical and legal aspects of handling data. |
| Capstone Project/Internship | Apply your classroom skills in real-world settings. | 7 out of 7 curriculums analyzed had a mandatory internship or capstone project. These are designed to provide practical, hands-on experience by solving real-world problems. |
| Communication & Persuasive Data Presentation | How to present your data. If everyone could understand complex data, the MSBA wouldn’t exist. | We saw these courses in 6 out of 7 curriculums that we analyzed. They teach students how to put their findings across to people who don’t have technical knowledge. |
And with the curriculum out of the way, let’s look at the eligibility for an MS in Business Analytics.
Eligibility for studying an MSBA
Just like with the course content, different universities have different requirements for admission to their MS in Business Analytics. Broadly speaking, here are the main prerequisites for studying an MS in Business Analytics.
- Bachelor’s Degree
Most programs require an undergraduate degree from an accredited institution, preferably with a strong quantitative background.
- Prerequisite Courses
Courses like Linear Algebra, Multivariable Calculus, Statistics, and Probability are often recommended or required.
- Computer Programming Knowledge
Knowledge of programming languages like Python, R, SQL, or Java is also usually essential, as emphasized by UCLA, ICL, IE, and Texas McCombs. Specific programs might also expect familiarity with C++.
- Standardized Academic Tests
GRE or GMAT scores are usually, but not always required (more on this in the next section).
- English Proficiency Tests
For non-native speakers, English proficiency tests like TOEFL or IELTS are mandatory. Schools set specific minimum scores for these tests, ensuring that all students can engage fully in an English-taught program. However, waivers are available if your undergraduate degree was wholly in English and it was at least four years long.
- Professional or Academic Recommendations
You will need at least one LOR for an MS in Business Analytics, although two are preferred. If two professional (from work) LORs are not available, then one professional and one academic (from university) are usually accepted. Additionally, you would need to write an SOP for an MS in Business Analytics at some universities.
- Work Experience
Relevant work or research experience in a quantitative discipline can strengthen an application, though it may not be strictly necessary for all programs.
Next, let’s dive deeper into the GRE and GMAT scores that you’ll need.
GMAT/GRE requirements for studying an MSBA
An MSBA is a very numbers-heavy course, to say the least. As a result, universities look to gauge how you perform quantitative tasks, and the best way they can do that is by looking at your GRE or GMAT scores.
Now, GMAT scores would probably hold you in better stead, as it is a more quantitative exam.
However, dozens of universities accept the GRE (UCLA, BostonU, Toronto, MIT) for your MS in Business Analytics application.
Just for reference the average GRE score for an MS in Business Analytics applicant at UCLA is 167 (Quant) and at BostonU is 166. We deliberately chose UCLA and BostonU because they were at #1 and #25 respectively, on the QS list of top universities for 2024 for an MS in Business Analytics.
Additionally, you’ll be happy to know that many universities do not require the GMAT or GRE as a prerequisite. Key examples would be The University of Melbourne (#15) and UTexas (#9).
Also Read: Top Exam to Study Abroad [Comprehensive Guide]
Scholarships to study an MS in Business Analytics
To begin with, there are a limited number of general scholarships available to Indian students to pursue an MS in Business Analytics abroad. Here are a few examples.
| Source | Scholarship Type | Details |
| Government of India | Various | Indian students can access scholarships offered by different Indian government ministries and bodies. |
| Tata Trusts | Merit and Need-Based | Provides scholarships for Indian students pursuing higher education in India and abroad. |
| J. N. Tata Endowment | Loan Scholarships | Offers loan scholarships to Indian students for postgraduate studies abroad. |
| Inlaks Shivdasani Foundation | Overseas Scholarships | Awards scholarships to young Indians for full-time Master’s, MPhil, or Doctorate programs at top global institutions. |
However, those programs are stupendously competitive.
A better bet would be to get a grant, scholarship, or other funding from the university you are applying to. During our analysis, we found that almost all universities automatically consider their graduate applicants for any eligible scholarships.
Many universities also have financial support programs of their own, a few examples of which are given below.
| University | Aid Details |
| Duke University | Offers merit-based scholarships on academic achievements, leadership qualities, community involvement, and extracurricular activities. All admitted applicants are automatically considered. International students may also apply for no-cosigner loans to cover up to 100% of their cost of attendance. |
| UCLA | UCLA Anderson offers MSBA Fellowships based on merit and need, automatically considered upon admission. International students can also apply for external scholarships and fellowships provided by private organizations. |
| MIT | MIT Sloan provides fellowships and assistantships to admitted students based on various criteria including academic excellence and professional promise. All admitted candidates are considered for these awards, with no separate application required for most. |
Remember, in addition to all of the above, you also have the option to work part-time to finance your studies. And lastly, many universities also offer graduate assistantships/ fellowships that usually come with a stipend or tuition waiver.
And now that we’ve talked about how to fund your degree, let’s talk about the scope of an MS in Business Analytics.
Career scope of MS in Business Analytics
There is an increasing demand across industries for professionals with advanced data analysis and management skills. The skills from an MSBA are invaluable for industries that heavily rely on data-driven decision-making.
Here are the most common industries that MSBA grads work in.
- Finance
Developing quantitative models for investment strategy, portfolio management, risk analysis, fraud detection, and automation of banking processes.
- Technology
Using big data to enhance products/ services, create applications, and optimize systems and operations. Nowadays, MSBA grads also help derive market insights for new products.
- Healthcare
Applying analytics to improve patient care, control costs, increase operational efficiency, forecast demand, and identify risk.
- Consulting
Gathering and analyzing data from client organizations to pinpoint opportunities, solve problems, and boost performance.
However, the value of an MSBA degree extends beyond these traditional areas. Sports teams rely on analytics for strategy, player evaluation, injury prevention, ticket pricing, and more. Entertainment companies need data insights for content planning, scheduling, marketing, and revenue management decisions. Even nonprofits and NGOs utilize data analytics for fundraising optimization, program planning, volunteer management, and impact measurement.
If you’re curious about the specific roles and salaries after an MSBA, don’t worry—we’ll cover that further down. Keep reading to see how an MSBA opens doors to a range of career opportunities.
For international students, the US offers added benefits with a two-year optional practical training period under the STEM designation. This OPT-STEM extension allows MSBA grads to work for 3 years in the US. after their program.
Top recruiters for MS in Business Analytics
The MS in Business Analytics is a very versatile program, with a high demand in a lot of industries. Out of the top ten universities we looked at, here are the top recruiters, industry-wise.
- Consulting and Finance
Big consulting firms like McKinsey & Company, Bain & Company, and Boston Consulting Group often hire MSBA grads. In finance, top companies like Goldman Sachs and JP Morgan Chase hire these grads for their skills in analyzing and managing financial risks.
- Technology and E-commerce
Tech giants such as Google, Amazon, and Apple also recruit MSBA grads. They work in areas like data analytics and machine learning, helping improve products and services.
- Healthcare and Pharmaceuticals
Companies like Pfizer and Johnson & Johnson hire MSBA grads to help improve healthcare services and manage drug development data better.
Now, we’ve only included the traditional big industries as MSBA grads will be employable anywhere. Now that we’ve covered the top recruiters, let’s delve into compensation and job roles after earning an MSBA.
Job prospects and salaries offered after studying an MS in Business Analytics
We’ve looked at the class profiles for several of the top universities for an MS in Business Analytics. From there, we took the most common job titles and researched the average starting salary they received.
Here are our findings.
| Job Title | Salary (Bottom 25% – Average) |
| Data Analyst | $70,000 – $90,000 |
| Business Analyst | $65,000 – $85,000 |
| Data Scientist | $95,000 – $120,000 |
| Analytics Manager | $90,000 – $115,000 |
| Operations Analyst | $60,000 – $80,000 |
| Quantitative Analyst | $85,000 – $110,000 |
| Business Intelligence Analyst | $70,000 – $95,000 |
| Marketing Analyst | $60,000 – $85,000 |
| Financial Analyst | $65,000 – $85,000 |
| Overall Average | $77,778 |
Now, a Google search will tell you that the average salary after an MS in Business Analytics is about $105,000. Now, this is certainly plausible if you get placed at a Big 4 accounting firm or an MNC consulting company.
According to our research, for an entry-level graduate job, the average salary after an MS in Business Analytics is about $80,000 per year. Of course, with every year of experience you gain, your salary will increase.
FAQs
Are MSBA programs STEM-designated in the USA?
Yes, generally an MS in Business Analytics is considered a STEM program. However, only MSBA degrees from accredited US universities qualify as STEM (Science, Technology, Engineering, Mathematics) programs. This allows international students to apply for an extended period of Optional Practical Training (OPT) after graduation to work in the US for up to 36 months.
What specializations are available within MSBA programs?
Many top universities offer concentrations or track options allowing you to focus your MSBA studies. Common specializations include areas like financial analytics, marketing analytics, supply chain analytics, risk analytics, and more. This targeted expertise can increase your marketability in specific industries.
Are there online or part-time MSBA program options?
While the majority of MSBA programs are full-time and delivered on-campus, an increasing number of reputable universities are introducing high-quality online and part-time/evening MSBA options. These can allow students to earn their degree while continuing to be employed and could in turn be more affordable than residential programs.
What kind of capstone/thesis is required for an MSBA?
Most MSBA programs require a capstone project or practicum rather than a thesis. This applied experience has you solving real-world business problems using data for an industry client or your own dataset. Some universities offer an optional thesis track as well.
How important are programming skills for an MSBA degree?
Extremely important. All top MSBA curriculums have core courses covering programming languages like Python, R, SQL, and potentially others like Java or C++. You’ll use these to clean, manipulate, analyze, and visualize data. Prior coding knowledge makes you a stronger applicant.
What are the differences between an MSBA and a Data Science degree?
While there is some overlap, Data Science programs tend to be more technical/coding-intensive and geared towards machine learning, AI, and advanced computer science applications. MSBA curriculums balance quantitative analysis with core business/management concepts for organizational decision-making.
