NYU Stern Announces New STEM-Designation for Full-Time MBA
In early January 2020, the NYU Stern School of Business officially earned a coveted STEM-designation for its esteemed full-time MBA program, available for students at the start of the upcoming spring semester.
Continue reading…New STEM Concentration in Business Analytics Introduced at Lehigh
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The Lehigh University College of Business and Economics recently announced a brand new addition to its One Year MBA (1-MBA) program, with a STEM concentration in business analytics.
Continue reading…UNC Kenan-Flagler Launches STEM-Designated MBA Concentration in Business Analytics & Management Science
In January 2020, UNC’s Kenan-Flagler Business School is slated to launch a new STEM-designated MBA concentration in business analytics and management science as part of its full-time MBA program.
Continue reading…Masters Advantage: Business Analytics or Accounting?
A specialized master’s degree can be a valuable tool for enhancing your career prospects. If you have a specific career in mind—financial analysis, marketing, statistics, etc.—a master’s degree in your specialty can provide you with the advanced training you need to be successful. So, the question is, what specialized masters is right for you and will give you the advantage you want?
To help you out, we’re putting the most popular master’s degrees head-to-head in our new series. First up, we’re comparing Business Analytics and Accounting.
What is a Master’s in Business Analytics?
A Master’s in Business Analytics is designed for students interested in big data. These individuals are interested in using machine learning algorithms to process data and draw conclusions in everything from sports to consulting, manufacturing, and healthcare. It’s all about making sense of vast amounts of data to streamline business.
What is a Master’s in Accounting?
A Master’s in Accounting is exactly what it sounds like—it’s hyper-focused on accounting. Individuals who choose this path are interested in completing their CPA examination and pursuing a career in corporate accounting. You’ll be prepared to take a strategic accounting role in audit, tax, financial management, and more.
Business Analytics or Accounting: Coursework
There’s some overlap in the coursework you’ll take as an accounting master’s student and a business analytics student. Both master’s programs delve into financial topics and include finance-related courses. In fact, some Master’s in Business Analytics programs offer a professional track in finance.
Also, in both cases, you’ll dive into analytical techniques and data modeling—though in the Accounting program it will always emphasize finance and accounting areas whereas Business Analytics tends to be more generic.
However, that’s where the similarities end. In Business Analytics, you’ll dive deep into computer programming, statistics, machine learning, and visualization. On the other hand, a Master’s in Accounting will take you into financial reporting, auditing, business taxation, business law, and management accounting.
Business Analytics or Accounting: Accessibility
Both master’s degrees can typically be completed in 12 months with some programs lasting up to two years. In addition, students can complete either program through full-time, part-time, online, or hybrid tracks. What’s different is the application process and what type of student is best suited to each program.
Business Analytics students must be mathematically inclined and gifted in quantitative fields. Many of these Master’s programs are STEM-designated, so candidates must be prepared to demonstrate high grades and test scores in these subjects.
Master’s in Accounting applicants are expected to have a strong background in accounting, often having earned their undergraduate degree in the same field. Work experience is not typically required unless the student has no practical training in accounting.
Business Analytics or Accounting: Careers
As a Business Analyst, you may earn a higher salary than an accountant when starting—around $15,000 more—and you’ll have more job opportunities. A Master’s in Business Analytics graduate can work in a variety of analyst roles in everything from marketing to finance, strategy, and statistics. While, on the other hand, a Master’s in Accounting graduate is typically regulated to an accounting, tax, or audit career.
Business Analysts are in high demand and have many opportunities regarding their careers, typically earning around $85,000 to start. They can work in almost any industry and in a variety of job functions, including:
- Business analyst
- Budget analyst
- Financial analyst
- Corporate strategy analyst
- Actuary
- Social media data analyst
- Business intelligence analyst
- Machine learning analyst
Master’s in Accounting graduates are also in high demand and can work in a range of industries. Everyone from public accounting firms to government organizations, financial institutions, and nonprofits need accountants. However, when it comes to job functions, graduates are typically limited to working as an accountant or an auditor earning around $69,000 to start.
Business Analytics or Accounting: The Top Programs
To earn your Master’s in Business Analytics or Accounting, there are many top programs across the country that are highly regarded. It all depends on your specific interests and goals.
If you want the best of both worlds, the USC Marshall School of Business is the only program to be in the top five for both degrees. It is highly regarded for offering great flexibility and quality curriculum.
In the Midwest, one of the top Master’s program for Business Analytics can be found at Purdue University’s Krannert School of Management. Its MS Business Analytics and Information Management program is 11 months long, affordable, and STEM-oriented. For a Master’s in Accounting, you should look toward the University of Illinois Gies College of Business, which offers the best STEM-designated accounting program in the country with a 98 percent job placement rate.
On the East Coast, MIT Sloan offers the best Master’s in Business Analytics program with 100 percent of the most recent graduating class earning employment offers by graduation. Whereas NYU Stern an excellent Master of Science in Accounting, ranked 9th overall by the U.S. News & World Report.
Outside the MBA: The Highest Paying STEM Management Degrees
STEM is everywhere. You hear about it constantly when it comes to career fields. The U.S. Department of Labor predicts that there will be more than 10.5 million jobs in STEM by 2028, but not enough employees to fill in the gaps. It’s partially why STEM has become increasingly important in education.
Continue reading…Rochester Simon Answers 5 Questions About Their MBA Program
In our latest installment of the MetroMBA “5 Questions” series, we speak with Rebekah S. Lewin, the Assistant Dean of Admissions and Financial Aid at the University of Rochester Simon Business School. Lewin talks about the small, close-knit Simon MBA community, the optional STEM designation for all ten specializations, and the program’s highly approachable faculty members. She also introduces the Simon Admissions Blog as an excellent resource for prospective and current students. Read the full interview below to discover the four aspects of the Rochester Simon MBA program that every incoming student needs to know.
1. What should hopeful students know about the program that they may not necessarily know until they start?
Rebekah Lewin, Assistant Dean of Admissions & Financial Aid at University of Rochester
“The Simon program is small by design. The relationships our students build during their time here are the cornerstone of the collaborative, supportive community that defines the Simon MBA. Our class size at Simon is only about 110 students, which allows us to create a unique culture that we have heard time and again has a significant impact on student satisfaction.
The best way to get a sense of life at Simon—and what it’s like to be a part of our inclusive community—is to visit our campus. We offer four Experience Simon Weekend events throughout the year. They’re a great opportunity to interact with current students, alumni, faculty, and staff. We’d love to see you in Rochester!”
2. What makes Rochester Simon stand out amidst other programs?
“Rochester Simon offers an option for STEM designation in any of our ten specializations: Asset Management, Banking, Brand Management, Corporate Finance, Operations, Consulting, Pricing, Product Management, Strategy, Technology, and Venture Capital & Private Equity. Or, you can follow our general management track to choose from a broad selection of courses. STEM designation signals quantitative rigor to employers, and for international students, a STEM-designated MBA offers the ability to extend OPT (Optional Practical Training) by 24 months, for a total of three years to work in the US without H1-B visa sponsorship.
Our inclusive atmosphere benefits all members of the Simon community. Throughout your MBA experience, you’ll study alongside a diverse group of peers with unique experiences and varied perspectives. Forty percent of the Class of 2020 are international students hailing from 17 countries, and 31 percent of our U.S. students are African American, Hispanic American, or Native American. We encourage you to embrace our vibrant community to the fullest–and we know Simon will embrace you.”
3. How accessible are Simon Business School professors? Do they frequently serve as mentors?
“Though highly sought after for their subject-matter expertise and often at the forefront of innovative research, our faculty remain approachable, accessible, and dedicated to their role as mentors. With small classes sizes and a close-knit academic community, you’ll benefit from individual attention that supports your personal and professional growth.”
International students in the Simon Business School MBA Class of 2020 hail from over 17 countries.
4. Are there any courses, clubs, specialty tracks, or events that MBA applicants should know about?
In the spirit of the University of Rochester’s motto Meliora—Latin for “ever better”—we are always in the process of improving and innovating elements of our MBA program as industry needs evolve. Here are a few recent examples:
- Our innovative curriculum is career-focused and allows you to take more elective courses and to take them earlier in your course of study, to better prepare you for your internship experience. You will also choose two breadth electives designed to bolster the professional skills employers desire.
- There are various opportunities to make an impact at Simon, like our Net Impact club, which inspires, educates, and equips individuals to use the power of business to create a more socially and environmentally sustainable world. Simon’s chapter was one of two finalists for Net Impact Graduate Chapter of the Year in 2018. In addition, Simon VISION Consulting provides pro-bono consulting services to pro-profit and not-for-profit businesses throughout the Greater Rochester area.
- In order to expand your understanding of the global business marketplace, you need to see it up close. We offer international exchange programs in Finland, Germany, and Japan for the Spring A semester of the second year of the MBA program. In addition, we also offer shorter 10 to 12-day career treks and academic immersions to China, India, Israel, South Africa, and Switzerland.
- This year, Experience Simon Weekend with Diversity Conference Programming (Oct. 11-12) is the culmination of Simon’s Diversity and Inclusion Week. Our Experience Simon Weekend with Women’s Conference Programming (Nov. 8-9) grows more popular each year, a trend we expect will continue. We would love to host you here in Rochester for any of these events! Visit our website for more details.”
5. What’s your favorite online blog that you would recommend for students?
“We might be biased, but we think the Simon Admissions Blog is a great resource as you’re preparing for business school! It’s a great place to find everything from advice on navigating the admissions process from members of our Admissions Committee, to guest posts from students, Simon news updates, alumni videos, links to new Simon Bizcast podcast episodes, and more.”
