STEM MBA Programs 2024: Which business schools offer them?

In today’s fast-paced and technology-driven world, the demand for professionals with a solid understanding of both business and STEM (Science, Technology, Engineering, and Mathematics) disciplines is soaring. This has led to the emergence and growing popularity of STEM MBA programs. Combining the analytical rigor of STEM with the strategic acumen of business, these specialized programs offer a unique and powerful skill set that is highly valued by employers across industries. In this blog post, we will delve into the world of STEM MBA programs, exploring what they entail, their benefits, and the top business schools that offer them.

What are STEM MBA programs?

STEM is an acronym for Science, Technology, Engineering, and Mathematics. 

Technically, a generic MBA program does not fall in the STEM category.

MBA programs come in all shapes and sizes. But what if you’re interested in a career in science, technology, engineering, or math (STEM)? Do you have to choose between an MBA and a specialized STEM degree? Not anymore. There are now STEM MBA programs that allow you to focus on these specific areas while also getting the benefits of a traditional MBA. So what are they, and what can they offer you? Read on to find out.

Benefits of STEM MBA programs

Career opportunities

Employers value MBAs because they demonstrate high-level business skills. MBA students gain valuable experience, possibly through capstones or internships. STEM-focused networking opportunities with partner companies, peers, and alumni are also available to degree candidates.

Extended 36-month OPT

STEM MBA graduates in the United States are eligible for an extended period of OPT. This means that they can stay in the country and work for up to 36 months after graduating, instead of the standard 12 months.

This is a huge advantage for STEM MBA graduates, as it gives them plenty of time to gain work experience and establish themselves in their chosen field.

The extended OPT also makes it easier for STEM MBA graduates to find jobs that are a good match for their skills and interests.

In addition, the extended OPT allows STEM MBA graduates to continue to contribute to the US economy by working in high-skilled jobs. STEM MBA graduates who take advantage of the extended OPT are able to make a real difference in their chosen field, and they are an essential part of the US workforce.

Business Schools offering STEM MBA programs

STEM MBAs vs. STEM Degrees vs. MBAs

STEM MBA programs prepare students to be business leaders. Technology, engineering, and mathematical principles are used in programs to improve marketing, management, and sales skills. General MBA programs, on the other hand, present the core curriculum through the lens of business analytics, business forecasting, and other quantitative methods.

Who should do a STEM MBA?

STEM MBAs are ideal for business school candidates who want to lead data-driven and tech-driven teams in fast-paced environments. International students who want to work in the United States after graduation can take advantage of the OPT extension at STEM-designated institutions, which allows them to work for three years without the need for business sponsorship.

In their current form, STEM MBA programs combine business and analytics studies. They are concentrating on developing business abilities through data science. However, not every MBA applicant will come from a technical academic background, making this program less appealing.

Furthermore, some applicants will be looking for a more general management degree, and a STEM MBA may not be the best fit for them. As a result, before enrolling in a STEM MBA program, make sure you are familiar with the technical and science-based curriculum.

“At Fuqua, we have both international and domestic students pursuing the STEM MBA,” says Russ Morgan, Senior Associate Dean for Full-Time Programs at Duke University’s Fuqua School of Business, which offers a track credential in Management Science and Technology Management (MSTeM) as a part of the Duke MBA. “For any graduate, it not only provides a path that focuses more heavily on the underlying analytical tools and applications but also makes a clear signal that the student has chosen that path.”

What types of jobs can you get with a STEM MBA?

Graduates with a STEM MBA enter the job market with in-demand abilities. Management occupations had median annual compensation of $109,760 in May 2020, according to the US Bureau of Labor Statistics, making them the highest-paying occupational group.

Many specific management positions pay even more. Financial managers, for example, make $134,180 on average, while computer and information systems managers make $151,150.

MBA degree holders can use specific talents to impress potential employers, as STEM professions are a fast-developing segment of the labor market.

Engaging with admissions staff and asking what types of firms recruit from their programs and what types of roles their graduates often fill should be part of determining your match for individual STEM MBA programs.

Then you must assess if this is in line with your objectives. While some programs specialize in connecting students with STEM industry companies, a STEM MBA can prepare you for long-term career success in a variety of fields and does not restrict you to one industry or job function.

“STEM MBAs don’t just provide a unique set of skills for some specific careers, but complementary skills from the breadth of the program,” explains Duke’s Russ Morgan. “That combination is the value driver. We have heard from alums in fintech, consulting, tech, marketing, and more who are grateful for the depth of exposure they had within our STEM MBA track.”

STEM MBA FAQs