Considered as the most lucrative of career fields, STEM MBA is something majority of students vie for.
So what does a STEM degree mean? STEM is the acronym used to describe the fields of Science, Technology, Engineering and Mathematics, respectively. Technically, a lot of students have been seeking a merger between the top business education programs and STEM courses. With the multitude of benefits it has, the STEM MBA programs in the US especially, are by and large, in huge demand — especially for international students.
This article will give you an insight into the STEM MBA merger domain, along with an overview of its shortcomings,opportunities, future scope etc.
What is a STEM MBA and How is it Different from Business Analytics?
You might wonder, does business development come under STEM? MBA programs do not fall under the criteria of STEM, but many B-Schools (especially the ones in the US) are opening up programs particularly due to the high rising demands of this domain.
STEM MBA is crafted to develop management skills — along with technical expertise, thus, aiming to blend domains of business and technology.
Here is the list of some of the top STEM MBA programs in the US:
- Full-time MBA –Columbia Business School
- Management Science and Quantitative Analysis – Dartmouth Tuck
- MBA (All programs) – University of Rochester – Simon Business School
- Full-time MBA – NYU Stern
- Management Science – Northwestern Kellogg
- Full-time MBA – Stanford GSB
Benefits of STEM MBA Degree
- STEM MBA programs offer a unique combination of business and science — with the inclusion of tech education. STEM MBA graduates are therefore flexible and find opportunities not just in STEM fields but also in integrative domains/specialized fields like technology and analysis.
- With growing demands, it has been analysed that there is now an ever-increasing market gap of specializations in the STEM MBA domain. Keeping this scenario in mind, it can be easily marked as one of the beneficial career options.
- More and more businesses and conglomerate organisations — internationally — are vying for a skill set that intertwines business with data analytics and so on. This ‘trend’ not only ensures an ever increasing need of such professionals, but also a scope of growth. The STEM MBA graduates will be able to key-in to the fertile land of opportunities.
Career Scope and Opportunities
Here are some of the top industries which look for STEM graduates with MBA specialisation:
- Internet of Things (IOT): Artificial intelligence (AI) and machine learning (ML) are the two top domains which mark the advancement of business now. Every smart tech industry — whether phones, consumer electronics, big data firms require these two pillars to even function properly.
A degree/specialisation in computer science would be an additive bonus along with this program here — to make you a top recruit for the biggest data and analytics organisations.
- Data Analytics: Also referred to as ‘business translators’, the demand for these gurus come from topmost data driven organisations. Moreover, MBA graduates have an edge over other pure STEM candidates, in terms of their extra understanding of knowing what’s best for the business.
- Tech & Cyber Security: The 21st Century is the age of ‘information’ as we live on data. Starting from record keeping, daily activities, social activities to national security — nothing is devoid of data. It’s as precious as any other asset on Swiss Bank accounts!
In such a scenario, threats are emergent in phishing of data, hacking and stealing. Professionals with a background in cyber security, would be able to ensure evasive manoeuvres to optimise security and also build a specialised management system of securing vital data.
Who is the Perfect fit for this STEM MBA Program?
The current programs offered are a mix of business and analytics, which focuses on building skills using data science, machine learning, AI and much more. If you have a STEM background, and are looking to further develop your skills towards strategy, business management and technical education, then a STEM MBA is the right course for you.
Candidates with a non-STEM background are generally not encouraged to apply since it may need some knowledge a-priori.
This article would have helped you get started on the basics of a STEM MBA program, and where you can see yourself with this emerging domain. There are many programs in the USA especially which are opening up doors to international students by making immigration easier — along with making such new and demanding courses available at the top universities and b-schools across the US.
The preparations, requirements and efforts for the course, are however, what you will need to keep a check of. Always bear in mind that admissions may be a tedious process but with the correct planning and ideation, you can easily etch a timeline that is suitable for you and stick to that religiously.
Despite being an emergent program, STEM MBA has its benefits as well as shortcomings, and just like any other important decisions you make in your life, it’s important to consider everything before you dive right in.