Is an MS in Finance a STEM Degree?

A Master of Science (MS) in Finance is a specialized graduate degree focusing on quantitative analysis, financial modeling, and global financial markets. Students delve into corporate finance, investment management, risk assessment, and financial technology, preparing them for demanding roles. The program equips graduates with analytical skills sought by employers in financial institutions.

What is STEM Classification

STEM is an acronym for Science, Technology, Engineering, and Mathematics, identifying fields contributing to scientific and technological innovation. The U.S. Department of Homeland Security (DHS) designates programs as STEM-eligible to align educational outcomes with national economic and workforce needs. This classification uses Classification of Instructional Programs (CIP) codes, standardized numerical codes used by the U.S. Department of Education to categorize programs.

CIP codes provide a taxonomy for programs, ensuring consistency in data collection and reporting. The DHS STEM Designated Degree Program List uses this CIP framework, including core STEM areas like engineering, biological sciences, mathematics, and physical sciences, often identified by two-digit codes. Related fields involving research, innovation, or new technology development using engineering, mathematics, computer science, or natural sciences principles can also receive STEM designation, typically at a six-digit code level.

For a program to be considered STEM-eligible, it emphasizes strong quantitative analysis, computational methods, data science, statistical modeling, and problem-solving. This focus ensures graduates possess the technical expertise and critical thinking skills for careers driving technological advancement and economic growth. DHS periodically updates STEM designation criteria to reflect evolving academic programs and technological trends.

Implications of STEM Classification for MS in Finance

The STEM classification holds implications for an MS in Finance program, especially for prospective students. A primary benefit is the extended Optional Practical Training (OPT) period available to international students. F-1 visa holders who complete a STEM-designated degree can apply for an additional 24 months of OPT beyond the initial 12-month post-completion OPT, totaling up to 36 months of work authorization in the U.S.

This extension provides international graduates a longer window to gain practical work experience in their field and build networks without immediate employer sponsorship. This additional time is valuable in competitive job markets, offering more opportunities for long-term employment. Students are eligible for this 24-month extension if their degree is in an eligible STEM field from an SEVP-certified school and they work for an E-Verify employer.

Beyond extended work authorization, STEM classification also influences eligibility for scholarships and funding opportunities for STEM fields. Organizations and institutions offer financial support to students pursuing STEM degrees, recognizing their importance to innovation and economic development. This alleviates some financial burden associated with graduate studies.

A STEM designation enhances the academic rigor of an MS in Finance program, signaling its emphasis on quantitative and analytical methods. This aligns with industry demands for professionals who leverage data science, statistical analysis, and advanced financial modeling to address complex financial challenges. Consequently, graduates from STEM-designated MS in Finance programs find themselves more competitive in the job market, especially for roles requiring high technical skill.

Verifying a Program’s STEM Status

Prospective students seeking to confirm an MS in Finance program’s STEM designation can take several steps. The most direct approach is to check the university’s program website, academic catalog, or admissions pages. Universities often highlight a STEM designation due to its benefits, especially for international students.

When reviewing program information, look for statements like “STEM-designated,” “eligible for STEM OPT extension,” or the program’s Classification of Instructional Programs (CIP) code. The CIP code is an important identifier; if provided, cross-reference it with the DHS STEM Designated Degree Program List. This list, maintained by U.S. Immigration and Customs Enforcement (ICE), details all STEM-eligible fields of study.

If the STEM status or CIP code is not available on the program’s website, contacting the university’s admissions office or the international student services department is recommended. These offices provide definitive confirmation, explain program eligibility, and offer guidance on the OPT extension application process. They also clarify how the curriculum aligns with STEM criteria.