ASU's W. P. Carey School of Business announces STEM-certified master's in finance
PHOENIX, Feb. 19, 2019 /PRNewswire/ -- The W. P. Carey School of Business at Arizona State University, one of the highest-ranked business schools in America, announces a significant enhancement to its Master of Science in Finance (MS-FIN) program. Now designated by the U.S. Immigration and Customs Enforcement agency within the Department of Homeland Security as a STEM-eligible degree program, the MS-FIN provides greater opportunities for international students to find employment in the U.S. for up to 36 months beyond graduation.
The STEM certification comes as the Bureau of Labor Statistics predicts that demand for STEM jobs will grow by 13 percent by 2027. BLS also reports that out of 100 STEM occupations, 93 had wages above the national average: The national average for STEM salaries is $87,570, while non-STEM jobs earn roughly half as much, with an annual average of $45,700.
The STEM designation allows eligible graduates on student visas access to an Optional Practical Training (OPT) extension, up to 36 months, as compared to 12 months for non-STEM degrees. As an international student, the longer work authorization term can help graduates gain additional real-world skills and experience in the U.S. The designation also benefits employers, who do not have to sponsor OPT candidates.
The certification means 2019 international graduates of the MS-FIN program — 49 percent of the class population — can enter the U.S. job market and pursue the OPT extension immediately. One of the few master's degrees in finance that carries the STEM certification, the MS-FIN was launched in 2013. The nine-month program delivers a leading-edge curriculum balanced between finance and asset/portfolio management, and through its affiliation with the CFA Institute's University Affiliate Program, the degree also prepares students for the Chartered Financial Analyst® (CFA) exams.
"There are several elements that make the Master of Science in Finance program a great program," said Thomas Bates, chair of the W. P. Carey School's Department of Finance. "First, our faculty are world-class leaders in research and applied practice in finance. They also are outstanding educators who are able to take theory and practice into the classroom so that students can apply it broadly in their future jobs.
"The second element that makes the program truly outstanding is our students," Bates said. "We have a very selective admissions program that creates both a highly capable and diverse student body. We're also a small program, and this allows students to engage one-on-one with each other and with faculty members in a meaningful and constructive way." Bates added that ASU's influence as the most innovative university in America according to U.S. News & World Report — ahead of MIT and Stanford — and the growing worldwide reputation of the W. P. Carey School are distinct advantages the MS-FIN can provide for students considering a master's in finance.
The STEM certification comes on the heels of an announcement by the school that the W. P. Carey Foundation has committed $15 million to support career services for students and alumni, providing for additional coaching, tools, and career resources.
"We look at this investment as something that will benefit us not only in 2019 and 2020 but also serve as the launchpad for thousands of careers in the future," said Amy Hillman, dean of the W. P. Carey School, of the $15 million gift. "This sort of generosity can help shift the competitive balance for employers that hire our graduates while rewriting the story of hundreds of hard-working families each year."
Students interested in pursuing the Master of Science in Finance at the W. P. Carey School of Business are encouraged to visit wpcarey.asu.edu/msfin to learn more about the program's curriculum and application deadlines.
About the W. P. Carey School of Business
The W. P. Carey School of Business at Arizona State University is one of the top-ranked business schools in the United States. The school is internationally regarded for its research productivity and its distinguished faculty members, including a Nobel Prize winner. Students come from more than 100 countries and W. P. Carey is represented by alumni in more than 160 countries. Visit wpcarey.asu.edu.
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SOURCE W. P. Carey School of Business at Arizona State University
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