Home Business and Finance Confused! Is Finance a STEM Major in 2022?

Confused! Is Finance a STEM Major in 2022?

by Favour James
Is finance a stem major

Is Finance a STEM major? Globally, people have gotten confused about what degree falls under stem majors, basically for finance and accounting degrees there is a lot of information to discuss in this article. 

I want you to know that some graduate degrees are considered stem majors while others are certainly not and It is advisable to get detailed information about a certain degree before going for study. 

This article would give you clear information and understanding to see if accounting and finance is classified as a stem major for this current age. 

What’s Considered a STEM Major

STEM is considered as an acronym for Science, Technology, Engineering and Mathematics. The acronym STEM has grown popular throughout these years as international students majorly get confused about it term. 

As science and technology advances, colleges and most universities have decided to offer some basic STEM programs to students who are eager to get the degree.

Under the STEM major, we could talk about related fields like Information technology, software development, computer network architecture, information security, and other fields which includes Science, Technology, Engineering and Mathematics. 

One of the importance of having a STEM major degree especially for international students is that you’ll be able to work in more lucrative sectors especially in Tier one countries.

Is Finance and Accounting Considered STEM

We could consider finance and accounting as a stem major. Reason being that, they both involved the sequence of Mathematics, Scientific, Technology and Engineering calculation even though it is not enough or highly logical.

Primarily, most Institutions tag finance and accounting as stem majors. Let’s take this as an example, the Financial Department for University of Maryland offers two masters degrees, Masters of Finance (MFin) and the Master of Financial Economics (MFE). 

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The MFE is considered to be a STEM major degree while the MF isn’t a stem. Because, the Masters Financial Economics (MFE) degree provides a rigorous understanding of theoretical finance and the economic framework upon which that theory is based

Furthermore, if you have the opportunity to join the Master’s in Finance at Stanford and you got the degree,then you might be able to call it STEM.

So it all depends on you and your beliefs and understanding. Your major and career should be based on your skills and what you’ll be able to render to the public in return for your education rather than perceived prominence. Even if your abilities lay in an entirely different area, anyone may declare a major and earn a degree with a little effort.

Is Finance A Stem Major?

The short answer here is No, Finance is not considered to be a stem major because they are not involved in highly recommended calculations. 

Finance and Accounting are considered to be business majors. If you want to get a major in finance, you can consider joining the Financial Department for University of Maryland and obtain a MFE degree or join the Master’s in Finance at Stanford.

Finance is regarded as a business major not a stem. Now I want you to know that your major or career isn’t a factor for prominence or fame, it can’t get you a job.

There are many majors who are unemployed today. Getting a major should be based on your skill, what you can render to the public at large. 

In abstract to my point, we could still consider finance and accounting as being a stem major.

What qualifies accounting and finance as STEM depends on two factors; the Institution and the Government. 

The Massachusetts Institute of Technology allows some finance major degree programs to be awarded. This means finance is formally recognised by the government as a STEM degree.

Several departments of the federal government do recognize financial degrees as being STEM majors for official purposes. DHS has made it known publicly that the MIT finance degree program counts as STEM.

Why is finance and Accounting considered as business majors?

What are the reasons why accounting and finance is not a stem major? Because finance and accounting are not hard sciences, they are considered business majors. Finance and Accounting are more like studying history, in the sense that they are primarily concerned with human behavior and perception.

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They build on previous research in STEM fields to develop theories, models, and systems for understanding, framing, planning, quantifying, and optimizing events and strategies involving the use and movement of money.

Although it uses mathematics to aid in the proof of a concept of thought, it does not necessarily explain how things work and cannot produce consistently repeatable results.

Air travel and telecommunication infrastructure are two examples of STEM majors. It is complex, with many things going on at the same time, but it still works.

Is Finance a stem major? Accounting and finance students are beginning to argue that they should be classified as STEM. Despite the fact that they share some characteristics with other stem characteristics,they are categorized as business majors not stem.

What qualifies a career as a STEM major?  Is it because it includes mathematics? No!. For example, biology applied mathematics to it working, it is not primarily concerned with mathematics. Soo should we consider it as a stem?

So legally and honorably, accounting and finance are not considered stem.

What careers are in the stem field?

There are lot of careers that falls under stem majors of which it Science, Technology, Engineering and Mathematics are vigorous compare to that of finance and accounting:

1. Software Development: Apart from coding, math is being required to be used everyday in software development  and such math is called Mathematical Logic which includes model theory, proof theory, set theory, and recursion theory.

2. Chemical Engineering: Chemical engineering is one STEM major that provides students with versatile knowledge that can be applied to a variety of career paths.

3. Aerospace Engineering: Aerospace engineering is a STEM field that focuses on aircraft and spacecraft design, development, testing, and operation.

4. Database Administrator: Another of the best STEM careers  is that of a database administrator. They store, organize, and secure information on secure folders.

5. Data science: Data scientists solve rigorous mathematics, complex problems and many more, they are considered as stem majors. The list goes on but I have to stop here.

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Is Finance Phd Worth It as It’s Technically Not a Stem Major

Are you thinking of not getting a career in finance because it is not classified as a stem major? 

This is my piece of advice. The fact remains that because a field or career doesn’t make use of mathematics or other science terms doesn’t make it look unprofessional or authoritative.

Earlier in this article, I told you to choose a career that you can perform well in. Your intelligence should never be defined by someone else’s opinion, and your choices shouldn’t be defined by it either.

Why do STEM majors think that non-STEM majors are a waste of time and money?

According to Williams Ng on Quora, The fact is that stem degrees are in high demand, while the demand for non-STEM has been gradually decreasing. 

Many STEM majors believe that majors in the humanities and liberal arts, such as religion, history, philosophy, classics, and writing, are a waste of time and money.

They often see this career as an investment. Graduating out of college and waiting for years before getting a job or establishing oneself. 

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Summing it up: Is Finance a stem major?

Based on my explanation in this article, if we could say finance is not a stem major we are absolutely correct. And if we conclude that finance is a stem major we are also correct because some governments and institutions offer finance and accounting to be regarded as a Stem Major career for their students.

But that is not the point. The goal of all students is to have a beneficial career but that should be done on the will of one’s understanding and skills. Even people who gain a stem major might still be jobless. Both business majors and STEM majors need each other to keep moving.

This is all I could render about this particular topic. So back to you now, is finance a stem major? What do you know about having a stem major degree?

You can use the comment section below to express your thoughts on this article.

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