Why STEM MBAs Are Growing In Demand

STEM-designated MBAs are rising in demand – especially from international students.

Seb Murray, of Find MBA, recently looked at how the demand of STEM MBAs has grown in recent times.

In the past year, according to Murray, a number of top b-schools have announced STEM designations for their MBAs, including the likes of Harvard, Cornell, Chicago, Georgetown and Rice Universities.

THE VALUE OF STEM

The rise of the STEM MBA on one hand, Murray says, is an attempt to attract overseas applicants, many of whom may see higher chances of winning the H-1B visa lottery if they studied STEM. But the growing demand behind STEM in the MBA world, according to experts, is also a reflection of the shift in employers seeking out graduates with technology skills.

In fact, according to the U.S. Bureau of Labor, STEM occupations are projected to grow 8.8% from 2018-28.

At Georgetown University’s McDonough School of Business, STEM certification was recently added to the MBA degree with an increased emphasis on quantitative content.

For the Class of 2020 at McDonough, technology was the third most popular industry following consulting and finance, with 14% of job acceptances and an average starting salary of $118,206, according to Murray.

“Adding this certification helps our students more strongly signal to employers that they are tech-ready and are prepared to lead in the digital world,” Prashant Malaviya, McDonough’s senior associate dean for MBA programs, tells Find MBA.

At Yale School of Management, the demand behind a STEM-designated MBA was overwhelming as well—something that experts say is reflective of the future of the modern MBA workforce.

“STEM skills prepare students for the cross-disciplinary demands of the modern workforce,” Abigail Kies, assistant dean of Yale’s Career Development Office, tells Find MBA. “Technology is a crucial part of most industries, and students being able to flex into the technical side of business is valuable for organizations.”

Sources: Find MBA, US Bureau of Labor