MBA Programs Adding STEM Degrees to Attract Overseas Students
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What is the main topic discussed in this episode?
Here's your Money Briefing. I'm J.R. Whalen at The Wall Street Journal in New York. Changes to U.S. immigration policies have made it harder for universities to attract international students. Well, now some business schools are trying to boost their international enrollment by offering programs focused on science, technology, engineering, and math, also known as STEM.
Applications overall to MBA programs over the last five years have been falling. But the most elite colleges, the Harvards, the Stanfords of the world, they mostly blame that on a drop in international applications because of global tensions, tensions with China, changes to immigration policy for a variety of reasons.
How big is the recent drop in international MBA applications to U.S. schools?
But that's been a big problem for these universities.
That's Wall Street Journal reporter Patrick Thomas. He'll explain the appeal of MBAs with a STEM focus and the skills that employers want to see in graduates of those programs. That's next.
Business schools in the U.S. are adding programs in science, technology, engineering, and math, or STEM. It's part of an effort to attract overseas students who eventually want to work here. and Wall Street Journal reporter Patrick Thomas is here to discuss.
Why are U.S. business schools adding STEM-designated MBA concentrations?
So Patrick, to what degree have international student applications to U.S. universities declined?
Well, applications have fallen about 14% since last year. Applications overall to MBA programs over the last five years have been falling, but the most elite colleges, the universities, Harvard's, the Stanford's of the world. They mostly blame that on a drop in international applications because of global tensions, tensions with China, changes to immigration policy for a variety of reasons. But that's been a big problem for these universities.
And international students are very important to the business schools.
International applicants made up about 40% of all applications to American business schools. It's a huge market for these schools. It's very important to them. And if you have a STEM designation, you are less likely to see a decline in applications from international students compared to those without a STEM designation.
Why are STEM-related programs so appealing to international students?
Well, the STEM degree gives international students the opportunity to have two extra years in the U.S. Normally, if an international student graduates from a U.S. school, they get a year in a federal program. They get to stay in the U.S.
How does a STEM designation extend post-graduation work authorization for international students?
for a year. With a STEM degree, you get an extra two years, so at least three years, which makes it much more appealing to the student and to employers who hire them. There's been a number of employers who are less likely to hire an international student if they're only here for one year. But if you've got three years, they might be more likely to hire you.
And the companies are just as eager to hire international students with a STEM degree because of the tight labor market.
That's true. There's also been a push. Overall, employers want MBA grads to have more of those data skills, the quant skills, so to speak. So that also is beneficial for not just international students, but domestic students as well to have that opportunity. STEM title next to your name.
Which STEM fields and program changes qualify an MBA for DHS STEM designation?
And for the business schools, it's important for their programs to be designated as STEM related.
The Department of Homeland Security kind of handles the STEM designation. They outline certain fields that the schools have to abide by. They add programs in business analytics, management science are some of the fields that the Department of Homeland Security highlights. And they mainly handle it because it's more of an immigration issue. than a Department of Education issue in some ways. It's pretty complex and gets in the weeds, but the Department of Homeland Security handles it, which I think a lot of people are surprised by.
So what kinds of skills are employers looking for in students who graduate from STEM programs?
Well, employers are increasingly looking for students that are able to look at big data sets and combine that skills to be able to sift through data and look at large Excel sheets of numbers and be able to boil it down with along with the leadership skills that.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:05–0:45
2
How big is the recent drop in international MBA applications to U.S. schools?
0:45–1:19
3
Why are U.S. business schools adding STEM-designated MBA concentrations?
1:19–2:32
4
How does a STEM designation extend post-graduation work authorization for international students?
2:32–3:13
5
Which STEM fields and program changes qualify an MBA for DHS STEM designation?
3:13–4:34
6
What data and technical skills are employers seeking from STEM-focused MBA graduates?
4:34–4:55
7
How do STEM MBAs benefit both international and domestic students and employers?
4:55–4:58
Speakers
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