In March, Fordham University’s Gabelli School of Business announced that its full-time MBA received STEM designation for all students entering in Fall 2022 and beyond. The announcement is the latest in a trend of full-time MBA programs securing or pursuing STEM designation, according to a Kaplan/Manhattan Prep business school admissions officer survey published earlier this year. Among 91 full-time MBA programs surveyed, 22 percent of admissions officers said that their programs currently hold STEM designation, a sharp uptick from 13 percent in 2020. An additional 23 percent said that their programs are pursuing the designation. The remaining 55 percent said that they are not currently pursuing, and have no plans to pursue STEM designation.
STEM designation is particularly relevant for MBA programs hoping to attract international/non-citizen students who plan to pursue post-graduate careers in the United States. Graduates of STEM designated programs receive an additional 24 months to work in the country, without an H-1B visa, as well as the customary 12 months after graduation. For domestic and international students alike, the demand for STEM-trained graduates is projected to increase over the next five years. The U.S. Bureau of Labor Statistics projects demand for STEM jobs will grow 13 percent by 2027. Additionally, average wages in STEM are higher than those in non-STEM fields.
Brian Carlidge, Kaplan’s Vice President, explained the uptick in the designation among some programs, as well as others’ hesitation. “Earning a STEM designation is a trend that is catching on quickly, especially among the top ranked MBA programs. For less competitive programs, adoption has been steady, but a lot slower. While the process for business schools to secure STEM designation is not a quick or easy one, and perhaps many smaller programs don’t have the bandwidth to do so, not being STEM-designated may put them at a distinct recruitment disadvantage. For many applicants outside the United States, it will be the differentiator,” he said.
Current STEM Offerings in the Top 15 MBA Programs (2023 U.S. News & World Report):
1- University of Chicago (Booth): Full-time (FT) MBA
1- University of Pennsylvania (Wharton): Six majors in FT MBA: Business Analytics; Business Economics & Public Policy; Business, Energy, Environment & Sustainability; Operations, Information & Decisions; Quantitative Finance; Statistics
3- Northwestern University (Kellogg): FT and Evening/Weekend MBA programs, MBAi, MMM
3- Stanford University: FT MBA and MSX
5- Harvard University: FT MBA Management Science track
5- Massachusetts Institute of Technology (Sloan): FT MBA
7- Yale University: FT MBA Management Science track, MAM Management Science track, Master’s degree in Asset Management
8- Columbia University: FT MBA
8- University of California Berkeley (Haas): FT and Evening/Weekend MBA programs
10- University of Michigan (Ross): FT MBA Specialization in Management Science
11- Dartmouth University (Tuck): FT MBA Management Science and Quantitative Methods track
12- Duke University (Fuqua): FT MBA Management Science and Technology Management (MSTeM) track
12- New York University (Stern): FT MBA (two-year), Andre Koo Technology and Entrepreneurship MBA
14- University of Virginia (Darden): FT MBA Management Science track
15- Cornell University (Johnson): Management Science MBA (one and two-year), Tech MBA, MPS in Management, MPS in Management-Accounting Specialization
Related blog: Trends in Business: MBA Programs Prepare Students for Leadership Roles in Technology