Top STEM Management Programs In India, And How Much They Cost - All You Need To Know

With the COVID-19 induced lockdown and consequent travel bans, many students inclined towards STEM-driven courses in management in the US and Europe are considering abandoning their plans for an MBA abroad. This is driven by the common misconception that STEM-driven management programs are available only in the US and Europe. But going abroad is not your only option! This article will explore STEM MBA courses that are offered in India by top business schools and universities, including the likes of the Indian School of Business, IIM Ahmedabad and XLRI Jamshedpur.

The Science, Technology, Engineering, Mathematics (STEM) field has been one of the biggest contributors to the advancement of human society. This is one of the reasons why many educational institutions around the world have started adding STEM into their course mix, and the management discipline is no different. The growth of STEM MBA in India, both in quantity and quality, has been unparalleled.  Here is an introduction to some of the popular STEM specialized courses in India! 

But First, What Is STEM MBA?

A STEM MBA program is a careful assortment of business management and leadership skills with other technical skills. If you are planning to opt for an MS or an MBA, then you are only looking to upscale your skillset in a particular discipline. But, if you aspire to grow your knowledge in the technical domain while nurturing your technical skills then you'd want to consider a STEM designed MBA program. 

STEM MBA In India - Popular STEM Specialization Courses Offered By Top B-Schools And Universities

The following are some of the most popular fields within STEM that are combined with management education and offered by top institutes.

• Business Analytics: It is a process of analysing data to derive useful business insights. Common topics that are covered in this specialization are - data analytics basics, spreadsheet modelling and analytics, applied statistics, query languages, big data analytics, data mining, data visualization, web analytics, statistics communication, etc. 
• Data Analytics: It is a process of inspecting, cleansing, transforming and modelling data with the goal of discovering useful information, informing conclusions and supporting decision-making. Data Analytics is slightly different from Business Analytics, as the insight or analytics gathered may or may not be business focused. 
• Data Science: Data science is also different from data analytics. Data Science involves more of predicting the future based on past patterns whereas a data analysis is mostly curating meaningful insights from a given data set. A data scientist job involves estimating the unknown whilst a data analyst job involves looking at the known with a new angle.
• Technology Management: It’s a degree that prepares students in understanding the technical aspects of running and managing a business. It involves integrated planning, design, operation and control of technological products, optimization, processes and services. In layman terms, it is the management of the use of technology for human advantage. Some of the typical subjects that are covered in this study are - technology strategy, technology forecasting, technology road mapping and technology project portfolio. 
• Quantitative Economics:  It is the systematic study where mathematical and statistical analysis is used to understand economic phenomena and problems and then find solutions to the same.
• Financial Technology (FinTech): The study focus is to use technology to make financial more efficient. This course helps you grow proficiency in finance, accounting, business information systems and analytic methods. This is an applied course that focuses on areas like blockchain, cryptocurrency, AI, machine learning, bots, IoT and Big Data.
• Information Science: It is a highly specialized academic field that is primarily concerned with the collection, classification, analysis, manipulation, storage, movement, retrieval, dissemination, and protection of information. Practitioners of this study the usage and application of knowledge in an organization to interact with people, departments, and any existing information systems. The study aims to create, replace, improve, or understand information systems.

STEM MBA In India - Top Management Courses In Business Analytics

STEM MBA In India - Top Management Courses In Data Analytics

Also read - Top 15 Colleges Offering MBA In Data Science And Business Analytics

STEM MBA In India - Top Management Courses In Data Science

You may also want to read: MBA From A Tier-2 B-School vs PGP In Data Science & Engineering

STEM MBA In India - Top Management Courses In Technology Management

STEM MBA In India - Top Management Courses In Quantitative Economics

*ISI MS students are also entitled to Stipend/Fellowship and INR 5000/- p.a. Contingency Grant.

STEM MBA In India - Top Management Courses In Finance Technology

Also read: How Technology Has Changed The World of Finance

STEM MBA In India - Top Management Courses In Information Science

Other Great Colleges For STEM MBA In India

• MBA Program in Digital Governance and Management (PGP-DGM) by IIM Visakhapatnam is an 18 months MBA program, which is launched under the aegis of the National e-governance Division (NeGD), Ministry of Electronics & Information Technology (MeitY), Govt. of India (GoI). The course fee is 16.50 Lac. After doing this course your career options are open for both government and corporates. Also, the top 15 also have the chance to be fully funded by NeGD.
• Masters of Management by IISc Bangalore is for those who are into technology driven R&D, and hardcore management and business analytics of things. Anyone who holds a valid GATE, CAT 2019 or GMAT score is eligible for this course. Their total intake is only 19 so you need to be best of the best. The fees of this course is 16.65 Lac.

STEM MBA In India - Career Prospects

The scope of an individual who has done a STEM specialised MBA, MS or MA is immense, not just in India but also abroad. With more and more data-driven technologies, IoT, cybersecurity and the development of technology that can work with alternative energy resources, a person who knows both tech and business is the need of the hour. Some of the popular job roles are:

1. Data Analyst
2. Data Scientist 
3. Big Data Engineer
4. Business Analyst
5. Financial Analyst
6. Tech Administration
7. Data Administrator
8. Product Manager
9. Brand Analyst
10. Customer Behavior Analyst
11. Digital Marketing Manager
12. Financial Engineering
13. CTO - Chief Technology Officer

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