Most of the business schools offering STEM MBA include; Decision theory, IT, marketing management, law, economics, strategy, and statistics in the curriculum. Also, they include regular leadership and management related subjects.
To stay relevant in the competitive world, it is therefore of paramount importance to stand out from the crowd. Though a decent MBA offers a career edge, there are many types of MBA programs available for students. Especially, business schools are emphasizing on creating specialized programs that cater to all disciplines and industries. So, STEM is one such popular initiative that focuses on specialized management education.
What is STEM MBA?
STEM stands for Science, Technology, Engineering, and Mathematics. As the name suggests, STEM MBA programs concentrate on the STEM subjects while imparting the general managerial and leadership skills. This program is especially gaining popularity among international students. Therefore, it is mostly being offered by US business schools.
Why should you choose STEM MBA?
One of the best features of STEM MBA is that it provides the best of both technical and business worlds. Hence, if you are already a technical graduate and want to pursue a career in that particular field; STEM MBA can open doors for employment in specialized areas.
As the job market is already facing a dearth of skilled employees; therefore, a management graduate with sound technical knowledge would have high demand in the market. These types of graduates especially have fantastic opportunities in the US. Also, as suggests that by 2024 America will face a shortage of 1.1 million STEM workers.
As technology is advancing a mile a minute, modern organizations would not only need people with managerial skills; but they would also need candidates with technical and business analytical skills. Hence, With data at the forefront of business growth; the demand for candidates with data analytical skills is only going to increase in upcoming years.
Who should apply for STEM MBA?
Firstly, If you are looking for a quintessential management career post your MBA. STEM may not be a good choice for you. However, if you are a graduate in sciences, engineering , technology or mathematics. And also want to pursue a career in these fields STEM MBA could be a perfect fit for you.
STEM MBA Eligibility Requirements
Firstly, 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.
Where are the best STEM MBA Programs offered?
Here is the list:
| B-School | STEM MBA Programs |
| Harvard Business School | Management Science Track in Full-Time MBA |
| Stanford GSB | Full-Time MBA, MSx Degrees |
| UPenn (Wharton) | Majors in Full-Time MBA: Actuarial Science; Business Analytics; Business Economics & Public Policy; Business, Energy, Environment & Sustainability; Operations, Information & Decisions; Statistics |
| Chicago (Booth) | Full-Time MBA, Sloan Fellows MBA, Sloan Executive MBA |
| MIT (Sloan) | Full-Time MBA, Sloan Fellows MBA, Sloan Executive MBA |
| Northwestern (Kellogg) | Management Science Major in Full-Time MBA |
| Columbia Business School | Full-Time MBA; Executive MBA |
| UC-Berkeley (Haas) | Full-Time MBA, Evening & Weekend MBA, Executive MBA |
| Dartmouth (Tuck) | Management Science & Quantitative Analysis Track in Full-Time MBA |
| Yale SOM | Management Science Concentration in MBA, Master of Advanced Management; Master of Asset Management |
| Michigan (Ross) | Business Analytics Track in Full-Time MBA |
| Virginia (Darden) | Specialization in Management Science in Full-Time MBA |
| NYU (Stern) | Full-Time MBA, 1-Year Andre Koo Technology and Entrepreneurship MBA |
| Cornell (Johnson) | One- and Two-Year Management Science MBAs |
| Duke (Fuqua) | MBA With Track Credential in Management Science and Technology Management (MSTeM) |
| UCLA (Anderson) | Full-Time, Fully-Employed, and Executive MBAs |
| Carnegie Mellon (Tepper) | Full-Time MBA |
| Texas-Austin (McCombs) | MS in Finance, MS in Marketing, MS in Energy Management |
| USC (Marshall) | Specialization in Management Science in Full-Time MBA |
| UNC (Kenan-Flagler) | Business Analytics & Management Science Concentration in Full-Time MBA |
| Washington (Foster) | Technology Management MBA, MS in Business Analytics |
| Emory (Goizueta) | Technology Management MBA, MS in Business Analytics |
| Georgetown (McDonough) | MS in Business Analytics |
| Indiana (Kelley) | Five Majors In Full-Time MBA: Accounting, Business Analytics, Finance, Marketing, and Supply Chain & Operations |
| Rice (Jones) | All Master’s Programs |
STEM offers specific benefits.
Additionally, In the job market, it can help you have an edge over students pursuing general MBA. Also, For candidates who have technical background and see themselves in similar fields in the future; STEM is a strong option they need to ponder over, in other words, STEM is for you.
Advantages of STEM MBA
STEM MBA provides some more diverse advantages which do not apply to other MBA programs. So, here are a few primary advantages of STEM MBA:
#1 – STEM OPT Extension:
The US government allows international students to apply for an OPT with an F-1 visa after they complete their degrees. Such as bachelor’s, masters, or doctoral studies from US universities. However, students majoring in STEM programs, which need to be from SEVIS-approved and accredited US colleges. But, Could be eligible to apply for an additional 24-month OPT extension on top of the standard 12 months authorization. Therefore, STEM MBA graduates are eligible for a total OPT authorization period of 36 months. Also, employers don’t need to give sponsorships to the STEM MBA graduates with OTP, for that period. Hence, international students get an edge in their employability.
#2- Marketability
STEM MBA graduates get trained in both technical and management subjects. Additionally, it helps them fill in some of the essential functions in the corporate world. So, with technology being a big part of all business operations, including management and leadership. Therefore, A technically sound manager is any day preferred over just a standard graduate. Also, The demand for such candidates would only increase in the future with the rampant adoption technologies; like AI and the Internet of Things (IoT) across all industries.
#3- Alumni Network
Students of STEM MBA, especially those from the top schools. Comes from an outstanding technical background and would eventually secure exemplary jobs in the market. Therefore, Studying alongside these students would get you a fantastic networking opportunity that you can leverage throughout your career.
#4- Return on Investment
So, A STEM graduate have knowledge and training in technical and data-oriented problem-solving skills and leadership and soft skills. Hence, The mix of these skills makes them highly employable, and companies would not mind paying such candidates bit higher. Also, a report published on College Salary by PayScale states that a STEM and MBA mix education graduates. On average, earn the second-highest early-career salary In the long-term. In other words, As you gather years of professional experience, the salary would only go up incrementally.