Frequently Asked Questions
Below are some questions asked by several Prospective Students:
Tell Me More about the One-Year MBA for STEM Professionals
The one-year MBA for STEM professionals program is designed to provide engineers, scientists and technologists the business and leadership skills required to start or lead technology-centered organizations. After completing a rigorous business core, students have flexibility to customize their learning experience through a wide variety of professional electives, some of which may be taught jointly by business and engineering, science and/or technology faculty. In addition, students will augment knowledge gained in the classroom through participation in active learning projects with leading and emerging technology organizations. The program includes many elements found in traditional MBA programs, including leadership training, access to career services, opportunities to study abroad and the ability to participate in professional and social clubs with other master’s students at Krannert.
What does STEM stand for?
STEM stands for Science, Technology, Engineering and Math.
When does the program start?
The inaugural class will start in June 2014, with graduation occurring in May 2015. This is a full-time program with all classes taking place on the West Lafayette, Indiana campus. Orientation begins on Monday, June 9, 2014 and instruction starts a week later on the 16th.
What does it cost? Are scholarships available?
Tuition for Indiana residents is $56,610, and $62,900 for out-of-state residents and international students. Some scholarship funding is available for top applicants. Scholarships are offered at the time of admission, and no additional work is needed by the applicant to apply for a scholarship.
What is the difference between this program and an executive MBA?
The purpose of the program is to take individuals with strong technical backgrounds and provide them with the business skills and leadership training required to lead high-tech companies. The program will offer a strong business core (accounting, marketing, finance, strategy, operations, etc.) coupled with active-learning projects at leading and emerging STEM companies.
After graduating with an MBA for STEM professionals, students will be in a position to leverage their technical backgrounds and newly-gained business skills to serve in management and leadership roles at technology, science and engineering firms. Those with a more entrepreneurial focus will have gained the business acumen required to either work at a startup organization or to create their own new venture.
Can I do a summer internship?
The program starts in early summer (June 9th) and students following the recommended course plan will graduate in May of the following year. Due to the rigor of the program (48 credit hours in less than a year) it will be very difficult to complete an internship and graduate on time. However, if a student wants to do an internship at the end of the program, we wouldn’t stop them from graduating in December, as opposed to May. Students choosing this option would be required to pay for the courses taught in the fall semester of the “second” year.
Can you share placement statistics?
This is a brand new program, and the inaugural class will start in June. Therefore, no previous class placement data exists. However, information on our two-year, traditional MBA program is available here.
What does the class profile look like?
This is a brand new program, and the inaugural class will start in June. Therefore no previous class profile exists. Our goal is to enroll 20 -30 students in the first class. So far, we are on track to meet or exceed this goal. Of the students that have applied by the January 15th deadline, the average GMAT is 653, the average TOEFL is 105 and the average work experience is 60 months.
How much should I budget for living expenses at Purdue?
Will students in the one-year program have access to career services?
Yes! Students will have full access to the Krannert Center for Professional Development (KPDC). Services include resume review, mock interviews and on-campus interviewing.