Your essential guide to STEM-designated business programs: Everything you need to know

In today's rapidly evolving business landscape, technical expertise is more valuable than ever. A STEM-designated graduate business program provides the analytical and technical skills needed to excel in AI, data analytics, fintech, and other emerging technologies. These programs prepare business students for global careers by tackling complex challenges and driving innovation. This guide explores the benefits of STEM-designated business degrees and then key considerations when choosing the right STEM program to align with your career goals. 

What is STEM designation?  

The U.S. government recognizes a STEM-designated program as a curriculum that incorporates science, technology, engineering, and mathematics (STEM) subjects. Overseen by the Department of Homeland Security (DHS), this designation highlights programs that equip students with technical expertise and analytical skills. 

To qualify, an academic program must dedicate at least half of its coursework to STEM-related subjects, such as data analytics, programming, financial modeling, or emerging technologies. These rigorous programs combine advanced theoretical learning with hands-on experience to help students apply their knowledge in professional settings. 

Benefits of STEM designation for international students 

For F-1 international students, STEM designation by the Department of Homeland Security (DHS) offers an additional benefit. When you complete your program, you may become eligible to apply for Optional Practical Training (OPT), which, if granted, allows you to work in the United States for up to 12 months. By graduating with a STEM-designated degree, you may be eligible to apply for a 24-month extension of OPT—for a total of 36 months of temporary employment authorization in the U.S. 

Is business a STEM field? 

Certain areas of business are considered to be STEM-related. Fields like business analytics, quantitative finance, fintech, and supply chain management often qualify as STEM due to their heavy emphasis on data analysis, mathematical modeling, programming, and emerging technologies. These programs prepare students to solve complex business challenges using quantitative and technological approaches, bridging the gap between business strategy and scientific innovation.  

As industries evolve, graduate business programs adapt to meet employer demands by incorporating more data-driven decision-making, artificial intelligence, and automation into their curricula. This shift reflects the growing need for professionals who can blend business acumen with technical expertise, making STEM-designated business degrees an increasingly valuable asset in today's job market. 

Not all business programs are STEM-designated, but the D'Amore-McKim School of Business offers options based on your interests and career goals. For example, as of July 2024, the D'Amore-McKim MS in Quantitative Finance is STEM-designated due to its focus on financial modeling, risk management, and statistical methods, which provide the analytical and technical skills needed for data-driven finance roles. However, traditional accounting programs generally do not meet STEM criteria.  

Understanding STEM business programs  

STEM-designated business programs blend analytical rigor with practical business applications, equipping you with the skills to thrive in a data-driven economy. By focusing on quantitative methods, technology management, and advanced analytics, these programs prepare you to tackle modern business challenges with a scientific and strategic approach. 

At academic institutions like D'Amore-McKim, STEM-designated programs build strong technological and analytical expertise, enabling you to excel in roles requiring data-driven decision-making and strategic problem-solving. These programs prepare you for leadership in emerging industries and enhance your ability to create innovative solutions backed by data and technology. 

Why experiential learning matters: Bridging theory and practice

Experience-powered learning is crucial because it bridges the gap between theory and practice, preparing you for real-world challenges. At D'Amore-McKim, experiential learning isn't just an add-on; it's a core part of the curriculum. This approach ensures that you gain practical experience alongside your academic studies. There are numerous ways for you to engage in this valuable learning, making it an integral part of your educational journey. The opportunities below designated with a “*” may require appropriate employment authorization for participation. 

• Corporate residency*: Take on a paid, high-impact role at a top firm or startup for three, six, or up to 12 months. Contribute meaningfully, collaborate with senior leadership, and apply academic learning in a professional setting. Open to Full-Time MBA and MS in Quantitative Finance/MBA students.
• Graduate co-ops*: Gain hands-on experience at leading companies and startups, apply classroom knowledge, and expand your professional network. Typically, you'll apply to complete a project at a host firm over the summer. Open to MS in Business Analytics and MS in Quantitative Finance students.
• Community Impact Initiative: Use your business skills to support nonprofit organizations and contribute to meaningful projects. Apply to work up to nine hours weekly over a summer semester, tackling strategic challenges and gaining mission-driven experience as a team. Open to full-time graduate students in Boston who haven't completed a graduate co-op or corporate residency.
• Micro-internships*: Apply for short-term, paid, project-based assignments (10 to 40 hours) and explore industries, use your classroom learning, and strengthen your resumé.
• Virtual job simulations: Participate in simulated projects designed by real employers, gaining insight into different career paths.  

Career outlook for STEM business graduates 

The career outlook for STEM business graduates is promising. Employment in STEM occupations is expected to grow 2.5 times faster than in non-STEM occupations, according to projections by the Bureau of Labor Statistics (BLS). Employers increasingly seek candidates with advanced analytical skills, such as financial modeling, data science, and business intelligence—key components of STEM-designated degrees.  

Graduates with these specialized skills are in high demand across industries like technology, finance, healthcare, and consulting. Their unique blend of business know-how and technical expertise makes them highly sought after. As a result, STEM business graduates often secure well-paid positions with excellent career advancement opportunities, being heavily recruited by companies of all sizes, from startups to multinational organizations. 

How to choose the right STEM business program  

Selecting the right STEM business program involves evaluating key factors to ensure it aligns with your academic and professional goals.