MUMBAI: For a long time, engineering graduates signed off their academic life with an MBA. The marriage of sharp technical skills with the sheen of an MBA attracted big dollars.
More recently, American universities married the two and the redesigned power couple-the STEM-designated MBA-was born from the deep conviction that the changing world of commerce needed more than just the understanding of market trends and profits.
Indians who were earlier finishing off with a vanilla MBA are instead now opting for the new science, technology, engineering and mathematics (STEM)-flavoured MBA, and it isn't just engineers but graduates of all hues and academic backgrounds.
International education counsellor Karan Gupta said the STEM-designated MBA, a recent offering from US universities, has been attracting Indian students in the hordes.
Taya Sapp, interim director of full-time MBA admissions at the Ross School of Business, told TOI: "Typically, at least 85% of the students pursuing our STEM-designated specialisation in management science are international students. India and China are both highly represented populations among our international students."
Similarly, all six MIT Sloan master's degree programs hold a STEM designation. These include their MBA, executive MBA, masters in finance, master's in business analytics, Sloan Fellows MBA, and the master of science in management studies. The MBA became STEM-designated, first as a response to the cutback in the number of months that international students could stay back in the US for optional practical training (OPT).
Designating all or part of their MBAs and specialised master's degree courses as STEM programmes allowed B-schools to get back international students, whose enrolments were dipping, with the promise that they would remain on American soil three times longer. While an MBA graduate can pursue 12 months of OPT, a STEM-programme graduate is eligible for a longer student visa in the form of an additional 24 months of OPT.
In 2019, Kellogg announced its first STEM-designated major in its full-time MBA program-the management science major. Since then, Kellogg's full-time, evening and weekend, executive MBA and masters in management studies programmes have all become STEM qualified. "Meaning that students pursuing any program, and any major within the program graduate with stem designation," said Haley Robinson, manager, external relations, integrated marketing and communications, in an email.
Interestingly, the application trend survey of 2022 conducted by the Graduate Management Admission Council, observed that across programme types, those that were STEM-certified were more likely to report international application increases than those that were not (61% versus 49%).
"Graduates with a STEM MBA degree typically have higher earning potential than those with a traditional MBA, as they are in high demand in the job market. This can make the investment in a STEM MBA degree a wise financial decision for international students. A STEM MBA can open doors to global career opportunities, as many industries and companies require employees with technical expertise and business skills. This can be especially beneficial for international students who want to work for multinational companies or who want to pursue a career that involves international travel," said student counsellor Karan Gupta.
Data from the US department of education shows the number of programmes registered as STEM-certified in graduate management education increased 65% from 2017 to 2020, growing from 222 to 367. Among international candidates responding to the GMAC prospective students survey who wanted to study in the US, nearly half express a preference for STEM-certified degrees (49%), up from 39% in 2019.
As the count of courses has increased, so have degree conferrals: between 2017 and 2020, STEM-certified GME conferrals increased 257% from 6,466 to 23,091. "Similar to the US OPT extension, Canada has a Post-Graduation Work Permit that allows international students to work in Canada for three years post-graduation and has likewise experienced increases in international students over recent years," said a research paper by GMAC.
Likewise, more and more Indians are choosing a STEM track within their management course to be ambidextrous in business and tech.
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Indian students join rush for STEM-designated MBA courses in US - Times of India
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