STEM is an acronym for Science, Technology, Engineering and Mathematics. STEM MBA offers business skills with an emphasis on STEM application. It includes 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. The courses offer business knowledge combined with technical education and thus, helps a student find a suitable job in specialized fields related to technology and analytics.
Business schools across the US started thinking of ways to address the drop in international students looking to study in USA. Factors like shifting immigration policies, increased difficulty in securing the US employment visas post completion of courses contributed to a 22% drop in F-1 visas from 2016 to 2018 (as per the US State Department). Offering a STEM-designated MBA program was a solution to this issue. International students who enroll for STEM-designated programs can be in the country for up to three years under an Optional Practical Training (OPT) extension, which is not the case for F-1 students from non-STEM background. The Non-STEM students have to leave the country a year after graduating. Hence, the extra time for the STEM students are beneficial for them as they can apply for the H-1B employment visa lottery.
In the year 2016 the Wisconsin School of Business at the University of Wisconsin was the first business school to get the STEM classification. It converted two of its specialized master’s programs – one in operations and technology management and one in supply-chain management. Now there are many other colleges in the US that have started offering STEM-designated MBA programs. Looking at the popularity and significance of this program, a lot of top business schools in India have also started offering courses in this domain – it is a very good option of you wish to study in India.
STEM MBA programs are designed to make students equipped with strong business acumen along with advanced analytical skills. Some of the jobs best suited for the students opting for this program are Data Scientist, Data Analyst, Business Analyst, Financial Analyst, Brand Analyst, Data Administration, Customer Behavior Analyst, Financial Engineering, Big Data Engineer, Data Administrator, Technology Officer to name a few.
Some of the industries that one can look forward to be part of post completion of this course are Data Science, Internet of Things, Cyber Security, Technology, etc. As more businesses tend to use data to make business decisions, data analytics and business skills will become extremely important. This trend will result in organizations needing graduates with a business as well as an analytics acumen. STEM MBA graduates will be the ones to meet this rising demand.
Many business schools across the US have started offering STEM-designated MBA programs to aid candidates in developing the abilities that they require in the era of digitization and robotics. This program has also successfully created curiosity and interest among corporate business employers. All this has given student fresh impetus to study in USA.
Hope this article explains what STEM MBA is all about and thus, helps you decide whether you will be interested to pursue this program. You can reach out to us for any doubts or queries related to our education loans for MBA. All the best!