Want to know more about what a STEM MBA is and which are the schools offering STEM MBA programs in US?

In this blog post, you’ll learn everything about the STEM MBA, the benefits of a STEM MBA and how it can help you with your career. 

You’ll also find information on schools that offer STEM MBA programs in US to help you make the best choice.

Alrighty, let’s get started.

First Things First – What’s a STEM MBA?

STEM stands for Science, Technology, Engineering and Mathematics. 

To apply to a STEM MBA, you should have obtained your bachelors degree in one of the STEM-related fields or have a background in business.

STEM MBA programs combines the best of two worlds, offering core courses that’d help you develop a more comprehensive understanding of business concepts while also providing STEM-specific courses such as data analytics, accounting, statistics, operations and supply chain optimization, forecasting and modelling to help you apply your STEM knowledge in business contexts.

Though STEM-focused programs are business-oriented, these also place a heavy emphasis on analytical reasoning, problem solving and quantitative analytical skills.

Essentially, STEM MBA programs are designed for individuals who want to work at the intersection of STEM and business.

STEM MBA programs in US have gained prominence in the last 5-6 years as business schools, keen to attract more international students, have begun transforming their MBA curriculum to include both management- and STEM-focused courses. 

As a recent article by Wall Street Journal reports, 

“About one-quarter of the roughly 800 U.S. business-school programs tracked by GMAC in 2019 reported themselves as STEM-certified. Last year those programs were more likely to have expanded their pool of international applicants, with 43% of STEM-certified programs reporting more foreign applications than the prior year, compared with 26% of non-STEM business programs.”

What Makes a STEM MBA Unique?

If you’re a non-US citizen, STEM MBA programs in US enable you to extend your stay and work longer in the US, thanks to the extended Optional Practical Training (OPT) program, which offers STEM graduates 36 months to work in the US instead of the 12 months offered to those graduating from non-STEM programs.

Another reason for the popularity of STEM MBAs is the rise in demand for STEM professionals. STEM industries are rapidly growing, leading to a high demand for talent. This means job opportunities are much easier to come by when you graduate from STEM MBA programs. 

Types of STEM MBA Programs

STEM MBA programs in US aren’t always full time programs.

You have lots of part-time options to choose from, ranging from Executive MBAs, Weekend MBAs, STEM-focused Hybrid to STEM Online programs.

Top US B-Schools Designate Entire MBA Programs as STEM MBA

In 2018, Simon Rochester became the first school to have its entire MBA program STEM-designated. 

Today many of the top business schools have joined the STEM movement by declaring their entire MBA programs STEM-designated.

Here’s a list of the top US Business Schools that have designated their Full-Time MBAs as STEM MBAs (in no particular order) –

1. Ohio State University’s Fisher College of Business
2. UC-Berkeley Haas
3. Stanford
4. MIT Sloan
5. Chicago Booth
6. Columbia Business School
7. NYU Stern
8. UCLA Anderson
9. Carnegie Mellon Tepper
10. Rice Jones
11. University of Rochester Simon School 
12. Washington (Olin)
13. Kenan Flagler
14. Arizona State University W.P. Carey School of Business
15. University of California-Irvine Paul Merage School of Business
16. University of California-Davis Graduate School of Management
17. NC State (Poole)
18. Rutgers Business School
19. UC-San Diego (Rady)

Top US Business Schools That Offer STEM Specializations or STEM-Approved MBA And Masters Degrees

While many leading business schools have taken the plunge to become fully STEM, others have introduced STEM-approved specializations and dual degrees within their full-time MBA programs. Most of these schools started out by offering pathways to a STEM degree through specialized masters in areas such as Business Analytics, Finance or Information Systems.

For instance, Purdue’s Krannert School offers four options for specializations – business analytics and information management, finance, global supply chain management, or marketing. Those who specialize in one of these get a STEM MBA from Purdue. 

Harvard Business School (HBS) has introduced a Management Science track in its full time MBA program. Those who choose this track get a STEM MBA from HBS. 

Similarly, Wharton offers multiple STEM majors such as Actuarial Science, Business Analytics, Business Economics & Public Policy, Business, Energy, Environment & Sustainability, Operations, Information & Decisions, Statistics within its full time MBA.

As do Ross, Darden, Duke, Kelley and more, that have STEM majors such as Accounting, Asset Management, Business Analytics, Marketing, and Supply Chain & Operations.

Here’s a list of the top 70 US Business Schools that offer STEM majors / concentrations in their MBA programs (again, in no particular order) –

1. Harvard Business School
2. Wharton
3. Kellogg
4. Tuck
5. Yale
6. Michigan Ross
7. Virginia Darden
8. Cornell Johnson
9. Duke Fuqua
10. Texas Austin McCombs
11. Kelley School of Business
12. Emory Goizueta
13. McDonough 
14. University of Wisconsin-Madison School of Business
15. University of North Texas Ryan College of Business
16. University of Connecticut School of Business
17. University of Massachusetts-Dartmouth Charlton College of Business
18. Vanderbilt University Owen Graduate School of Management 
19. Katz Graduate School of Business
20. University of Notre Dame Mendoza College of Business
21. Purdue University Krannert School of Management

Illustrative list of STEM masters offered by some of the prominent business schools –

• Majors in Statistics, Actuarial science
• Business Analytics, Business Economics & Public Policy
• Business, Energy, Environment & Sustainability – Operations, Information, and Decisions
• Business Analytics and Analytic Finance
• MS Business Analytics & Information Management
• MS Marketing
• MS Finance
• MS Global Supply Chain Management
• MS Economics
• MBA in Operations and Technology Management (MBA specialization)
• Masters in Finance
• Masters in Business Analytics

STEM MBA vs Traditional MBA – Which is Better? 

STEM graduates usually have a leg up on their non-STEM peers when it comes to moving up through organizations because they understand how things work not only from a technical perspective but also from a business perspective. 

STEM also gives more options when it comes to your post MBA goals. STEM MBA graduates can choose from both STEM and non-STEM management roles, be it to change their careers to a non-STEM role, stay in STEM or move into a STEM-related industry.

STEM MBA Admission Requirements

STEM MBA programs usually require applicants to have completed 4 years of school, including your undergraduate degree. Some STEM MBAs might only need 3 years of school if you already have a STEM-related professional experience in the industry.

With respect to work experience, most leading US B-Schools prefer applicants with at least 2 years of work experience. There are, however, a small set of schools that accept those with less than 2 years of work experience.

Benefits of a STEM MBA

Employment Opportunities

The U.S Bureau of Labor Statistics projects that most job growth over the next decade will take place in STEM fields. STEM related jobs are expected to grow by 11% over the next decade along with a decline of 4% in non-STEM jobs. 

Higher Earning Potential

Given the fast growing prominence of STEM fields, STEM MBAs are able to command high salaries early on in their careers.

STEM MBAs have the ability to earn more than traditional business school graduates because they often have more experience and they bring technical expertise that many non-STEM bachelors do not have. 

Depending on your background, previous work experience, the company you’ll be placed in, you can expect to make between $110,000 and $135,000 in your first year of working. 

36-month Optional Practical Training (OPT)   

International STEM MBA students in the USA can apply for a 36-month Optional Practical Training (OPT) and are eligible to work in the US even after they complete their MBA. 

While non-STEM MBA graduates have 12 months of OPT, STEM MBA graduates are able to extend this period by an additional 24 months.

To Conclude

STEM MBA programs are here to stay and are only growing in popularity with each passing year, evident in the way top schools have started to transform their MBAs as STEM-approved.

As Ohio State Fisher Dean Anil Makhija recently told Poets and Quants about the relevance of STEM MBAs – 

“This is the transformation that is taking place in business — what I would call digital transformation. There is much more opportunity now to use quantitative skills to address business problems. So this fits in the bigger picture and fits in perfectly for our MBA program.”

Need help choosing the STEM MBA program best for you?

Connect with MBAEssayNation to get help with your STEM MBA dreams.

You can either email us on letsgetstarted@mbaessaynation.com or call us on +91 9901875008 and let us help you choose the right MBA program for you.