STEM stands for Science, Technology, Engineering, and Mathematics. Thus, the basics of a STEM program requires awareness and concept of disciplines in the technical domain. If your preferred discipline is similar to any of the four mentioned sectors, you can opt for a STEM degree.
Ideally, MS programs in particular disciplines used to be STEM-designated. However, many USA based B-schools also offer STEM curriculum to its MBA students with a background in STEM. A STEM MBA program, thus, not only develops your business management skills but also provides a merging of your technical skills as well as business and leadership skills. If you wish to simultaneously nurture your business skills and your knowledge of the technical domain, you can opt for the STEM-designated MBA programs.
STEM designation is accorded to the following MBA programs by the US Department of Homeland Security:
- Harvard Business School
- University of Massachusetts – Dartmouth Charlton College of Business
- Duke University – Fuqua School of Business
- University of Virginia – Darden School of Business
- Carnegie Mellon University- Tepper School of Business
- University of Southern California – Marshall School of Business
- University of Notre Dame – Mendoza College of Business
- Vanderbilt University – Owen Graduate School of Management
- University of Wisconsin – Madison School of Business
- University of Georgia – Terry College of Business
- University of Rochester – Simon Business School
- University of Pittsburgh – Joseph M. Katz Graduate Business School
- Iowa State University – Ivy College of Business
- Purdue University – Krannert School of Management
- University of Connecticut
- University of Delaware- Lerner College of Business and Economics
- University of North Texas – Ryan College of Business
What is STEM MBA?
The STEM-designated MBA helps you use your technical knowledge within the business domain. US schools have updated their curriculum to enable their MBA applicants the advantage of opting for STEM MBA programs. Students have started opting for programs that provide better career opportunities. In a world that is fast becoming dependent on technology for all its functions, a STEM MBA would be the best skill development orientation any individual can opt for. They include accounting, business analytics, decision theory, finance, economics, information technology, law, marketing, management, statistics, and strategy while providing business skills to be successful in management and leadership roles.
According to a study, there will be a deficit of over 1 million professionals in the STEM segment if grad schools do not encourage STEM disciplines with their courses. Thus, B-Schools must train their students in STEM disciplines to ensure that capable and competent individuals continue to impact the realm of technology and business. Many US schools have readily improved their curriculum to include STEM programs, for instance, the Massachusetts Institute of Technology (MIT) Sloan received STEM designation for 2 of its Masters courses – Business Analytics and Finance and Simon Rochester upgraded all of its MBA specialization offerings to become STEM-designated programs.
Advantages of STEM MBA
The market is unstable and the competition to read, analyze, and strategize industry trends are always on the rise. In such a scenario, a STEM-designated MBA will give you the advantage over others by allowing you to reach the perfect culmination of your business and technical skills. The advantages of opting for a STEM-designated MBA are discussed below:
#1 – Employment:
STEM-designated MBA allows deserving professionals to learn from the best faculty, partake of the best curriculum, avail of the best learning opportunities, and ultimately lead the technology industry or apply technical particulars to analyze, strategize, and take crucial business decisions.
#2- Career prospects:
Data : With the market gradually shifting to data-driven technology, the need for efficient business leaders, educated in the nitty-gritty of data science are also on an increase.
Artificial Intelligence being developed and deployed to help the common man live a happy, easy life, the software industry is on the lookout for professionals who are trained in programming and command the insights of a successful business leader.
Cyber Security: STEM MBA empowered professionals become the best choice to lead this segment of the industry.
Energy Sector: Knowledge of the sciences as well as the ability to assess market impacts of industry will be beneficial in this regard.
F1 Visa Extensions for STEM MBAs
International students can benefit from the Optional Practical Training (OPT) program in the USA and stay and work, post-graduation, without the H-1B visa, for a period of 12 months.
A STEM-designated MBA however provides them the opportunity to extend their stay without the H1-B visa to 36 months. That is, a STEM-designated MBA will increase your scopes to avail of OPT for additional 2 years. A time you can use to build upon your experience and establish relations in the industry.
STEM MBA Eligibility Requirements
It is not necessary that all MBA applicants will belong to a science and technical background. On the other hand, applicants opting for specific MBA concentrations such as HR or for General Management may not be interested in pursuing a curriculum with a mix of science and business fundamentals. Thus, the STEM MBA is suited for candidates with an academic background in the disciplines of science and technology.