Digitization and automation are fueling the demand for tech-savvy employees who understand how to manipulate data. By 2025the World Economic Forum estimates that 97 million new roles could emerge as the labor market adapts to the division of labor between humans and machines.
A STEM (Science, Technology, Engineering and Mathematics) The master’s degree offers the possibility of exploiting emerging opportunities. Master’s degrees receive the STEM designation if their study programs emphasize highly technical and quantitative elements. This is combined with a focus on business.
STEM masters also offer unique advantages if you are an international student looking to enter the US job market. Studying a STEM master’s degree ensures that you are eligible to extend your stay in the United States for three years after graduation, without an H-1B visa, a key selling point for future employers.
So what are the different types of STEM masters available? Here are the top business masters who could prepare you for the future of work.
STEM Masters in Business Analytics
In a data-driven world, leaders need to know how to leverage advanced tools like big data, algorithms, and automation to strategize and make key decisions.
A Masters in Business Analytics teaches you how to use digital concepts such as artificial intelligence to increase revenue and analyze growth, many of which receive the STEM designation.
This makes the Master of Business Analytics (MSBA) a popular choice with employers: 86% of corporate recruiters in 2022 plan to hire MSBA graduates according to the Graduate Management Admission Council (GMAC).
Ranking Master in Business Analytics designated by STEM
MIT Sloan Offers the World’s Best Masters in Business Analytics Designated STEM, According to QS 2022 Masters in Business Analytics ranking. But that comes at a significant price: For the one-year program, MIT charges $82,000 in tuition.
UCLA Anderson School of Management offers the second highest ranked degree, it is cheaper at around $66,000.
But, are they worth it? MIT MBAn graduates earned salaries of $114,000 with a signing bonus of $11,000 in 2020, meaning they were likely to see a strong return on their investment within two years of graduating. their degree.
As a leading STEM-designated Masters in Business Analytics located in the United States, MIT also has the added advantage of opening up opportunities to enter the US job market.
Admission requirements to enroll in a STEM Master in Business Analytics may differ. However, most schools accept recent graduates and early-career professionals with a background in technology, engineering, science, and computer programming.
STEM Masters in Accounting
Studying a Masters in Accounting (MACc) can be essential to progressing in an accounting career. Many programs offer preparatory courses for the Certified Public Accountancy (CPA) exam, a globally recognized certificate allowing you to practice accounting.
A Macc can offer you high salaries, fast career progression, and help prepare you for a career in multiple industries such as consulting, technology, or investment banking.
As technical degrees, MAcc programs can also be referred to as STEM. The best schools b to study a STEM Masters in Accounting include the University of Southern California, Washington University in St. Louis, and the University of Michigan.
These programs can last up to two years. There are also variations in format, structure and delivery. They can operate online with asynchronous or synchronous courses or in on-campus or hybrid formats.
Core courses on a STEM Macc cover topics such as corporate governance, financial reporting, advanced management accounting, and research methods. Programs typically offer electives allowing you to tailor your experience to your specific interests and career goals.
To enroll in the best STEM Macc degrees, most schools will require you to hold a bachelor’s degree with a minimum GPA of 3.0. Some may also require the GMAT or GRE.
After graduating from a program, you could land a range of different roles, including business consultant, chief financial officer, managing director, auditor or controller. You could eventually become a chief financial officer (CFO).
The most popular role for graduates is auditing, meaning working with financial records and using your tax and accounting expertise. The big four accounting firms, EY, Deloitte, PwC and KPMG, regularly hire auditors with MAcc degrees.
STEM Masters in Supply Chain Management
Masters in Supply Chain Management (MSCM) are increasingly popular. The digitization of supply chains requires new skills and knowledge to integrate the latest cutting-edge technologies.
Covid-19 has demonstrated the fragility of global trade, showing the importance of effective supply chain management. This has led to a surge of applications for master’s degrees in supply chain management around the world – applications increased by 46% in 2021, according to GMAC.
Many high-level master’s degrees in supply chain management, including the program offered by the University of Michigan’s Ross School of Business, ranked third in 2022 by QS, have been awarded the STEM designation.
“The Master of Supply Chain Management is designed for candidates with a strong quantitative aptitude and a passion for the complex field of supply chain management,” says Kaci Kegler, director of one-year master’s programs at Michigan. Ross.
Ranking Master in Supply Chain Management designated STEM
An MSCM STEM typically lasts one year and offers a curriculum that combines specialist subjects with general business topics such as strategy, economics, financial accounting, and marketing.
Studying a specialized Master in Supply Chain Management means you will dive into modules such as Global Logistics Management, Supply Chain Risk Management, Sustainable Supply Chains and Project Management .
After graduation, STEM MSCM students embark on exciting careers as logistics managers, logistics planners, supply chain managers, project managers, and consultants.
Top employers for supply chain management graduates include Amazon, Google, Microsoft, Uber, and Tesla.
MSCM graduates earn high salaries. Students at Michigan Ross, which is STEM’s top master’s program in supply chain management, earn an average of $84,000 with an average signing bonus of $20,000.
“The career paths of Master in Supply Chain Management graduates are as varied as the alumni themselves,” says Kaci of Michigan Ross.
“From technology to consumer packaged goods to the automotive industry, Michigan Ross alumni can be found at leading companies around the world.”
So if you’re looking to launch a career that combines technical expertise with a business focus, you have plenty of options. A STEM master’s degree is a smart choice if you’re an international student looking to work in the United States.
When choosing your business degree, it’s important to consider whether adding a STEM program to your resume might give you a greater chance of success after graduation.