Quite lately, businesses across the globe have started noticing the power of data. An organization that can provide data science has a tremendous edge over competitors who can’t do the same. Therefore, STEM MBA courses are built for both business and technical skills. This course is swiftly growing amongst STEM professionals who are engrossed in business and management skills. But before diving into more details, let us first know about the basics of the STEM MBA program.
STEM is a short form for Science, Technology, Engineering, and Mathematics. If the course comes under any of these four disciples mentioned, then that particular program is classified as STEM. A STEM graduate can perform data processing and analytical skills expected from MS degree holders while also operating the company objectives of an MBA role. Unlike the regular MBA, the STEM MBA demands aspirants to have substantial technical knowledge.
Are you a right fit for the program?
To find out the best candidates for the program, the schools’ admission committee will look for candidates with holistically developed profiles. Besides that, the candidates applying for the STEM-OPT program will have to meet some criteria set by the school as well. To apply for a STEM program, one needs to have scored a GPA of 3.0 and be proficient in the technical domain. Some schools also focus on the candidate’s pragmatic exposure and work experience.
Benefits of a STEM MBA program
- The program provides practical knowledge on several skills such as Machine Learning Algorithms and Data Analytics in the ever-rising ecosystem.
- It aims to close the existing skill gap- both in the managerial and technical domain. It opens more jobs for such candidates in top multinational companies such as Google and Amazon.
- The program focuses on the well-rounded development of the candidates.
Here are the top business schools that offer STEM MBA programs globally:
- The University of Wisconsin, Madison – Wisconsin School of Business
The Wisconsin School of Business was the first in the US to provide an MBA with STEM concentration in early 2016. Candidates who choose this program obtain an MBA in Operations and Technology Management.
- Duke University – Fuqua School of Business
In 2017, Duke University’s Fuqua School of Business introduced an MBA certificate program in management science and technology, a STEM-certified course. This course prepares you to lead and direct analysis and get deeply engrossed with and understand the tools and models that must be utilized to inform and improve decisions.
- University of Rochester – Simon Graduate Schools of Business
At the University of Rochester’s Simon Business School, a student can take up a whole MBA program that is STEM concentrated. Since 1968, the school has perpetually been a master’s in “quant subjects” that highly depends on maths. It is also the only business school out there in the US that provides an option for STEM designation regardless of a student’s specialization. Students studying Finances, Consulting, and Marketing can receive a STEM MBA.
- University of Notre Dame – Mendoza College of Business
The Mendoza College of Business provides a STEM accredited Master of Science in Business Analytics dual degree/MBA. The two-year program prepares the students for careers in a more data-driven market. The dual degree involves practical projects containing visits to third-world countries, influencing communities with infrastructure development, agriculture, and micro-finance projects.
- University of Georgia – Terry College of Business
The University of Georgia’s Terry College of Business provides an entirely STEM concentration MBA. With 9 concentrations, and 3 primary areas of focus in Strategy, Social Innovation, and Fintech, and immersive projects with local non-profit organizations, corporate partners, start-ups, the students will have access to opportunities to help their professional development.
- Worcester Polytechnic Institute – Foisie Business School
The school has quite lately redesigned its MBA program to add STEM topics to it. The students can focus on endless topics such as process design, sustainability, information security, and technology innovation. Foisie Business School is AACSB certified and has been ranked amongst the top five business schools with the highest graduate commencing payrolls.
- The University of Southern California – Marshall School of Business
USC’s Marshall School of Business has launched a STEM-certified management science concentration for full-time MBA candidates. The new concentration will converge with analytics and data-driven decision-making that are in huge demand among various businesses. Those who pursue this specialisation will demonstrate expertise in data analytics, operations, forecasting, statistics, finance, supply chain optimization, digital marketing, and modelling.
- University of Massachusetts Dartmouth – Charlton College of Business
The Charlton College of Business has a STEM concentration for its MBA course in business analytics. Substantially all organizations across the world are highly demanding for those with business analytical abilities. The Charlton College of Business has the cardinal standard of business school appreciation that AACSB International accredits.
- University of Connecticut
The University of Connecticut’s business school has a STEM designation for its several MBA specializations. The Digital Marketing Strategy, Business Analytics track, Financial Management, and Investments track are STEM certified. The US News, FT, and Bloomberg Businessweek ranked the University of Connecticut as one of the top AACSB certified schools in the world.
A growing number of business schools in the world have been providing a “STEM-designated” MBA program to offer candidates the qualities they require for an era of robotics and digitization. When the business schools designate that half their program structure is based on the STEM fields- Science, Technology, Engineering, and Maths, they obtain a reputation. The STEM MBA programs successfully enhanced MBA applications at several universities and raised curiosity amongst corporate business organizations. All in all, post-study, a STEM MBA is more prevalent amongst the recruiters. The knowledge and the skills that candidates obtain while pursuing these programs go an extended way in the contemporary business world.
Author Bio: Abhyank Srinet is a passionate digital entrepreneur who holds a Masters in Management degree from ESCP Europe. He started his first company while he was still studying at ESCP, and managed to scale it up by 400% in just 2 years.