Commerce students seeking a successful career in the United States have traditionally favored MBA programs.
By Sripal Jain (CA, CPA)
Indian commerce students harboring dreams of a thriving career in the United States have traditionally gravitated toward MBA programs. While these programs offer comprehensive business education, they come with expensive tuition fees, a rigorous admission process, and limited pathways to a long-term US work permit upon graduation.
Fortunately, the landscape has undergone a significant shift over the years. With the USCIS approving STEM-designated accounting programs such as Master’s in Accounting and STEM-MBA in Accounting, commerce graduates now have a more accessible and effective gateway to successful professional careers.
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These specialized degree programs are reshaping the prospects for commerce graduates, providing them with both advanced business acumen and a practical route to secure US work permits or Employment Authorization Documents (EADs). STEM-designated Master’s programs in accounting are proving to be a game changer. Unlike traditional MBA degrees, these programs offer direct benefits that are crucial for international students:
Extended Optional Practical Training (OPT)
This extension is not typically available to conventional MBA graduates and substantially increases the time students can work in the US without an H-1B visa. International graduates of STEM-designated programs are eligible for a 24-month OPT extension, significantly longer than the standard 12 months. Additionally, some MBA accounting programs are available as STEM degrees, providing the same visa extension benefit. This period is critical for gaining practical work experience and may lead to sponsorship for a permanent work visa. It enhances their chances of securing employment in the US and eases the transition to an H-1B work visa.
Enhanced Employability
These specialized programs go beyond traditional accounting education by integrating essential skills in data analytics, big data, and financial technology. This equips graduates with versatile skills such as analyzing financial data, applying technology in auditing, and understanding the financial ramifications of big data.
Such trained candidates are highly sought after by large corporations like Deloitte, KPMG, Ernst & Young, PwC, Grant Thornton, and more. Supported by university employment rates, the University of Washington, Tacoma, reports that 92% of their graduates secure employment, and the University of Akron boasts a 90% job placement rate for graduates of its comparable STEM accounting programs.
Industry Trend Alignment
As the accounting sector evolves with a focus on technology and data insights, STEM-designated programs ensure that graduates are well-prepared to lead this transformation. Such training ensures that graduates are not just crunching numbers but are also equipped to tackle complex data-driven challenges in the financial world.
According to a 2023 report by Robert Half, 78% of US CFOs now regard data analytics and automation skills as crucial for accounting professionals, highlighting the relevance of these advanced competencies in today’s job market.
Navigating the U.S. OPT process as a graduate of a STEM-designated accounting program involves several strategic steps:
Program Selection for Masters Course
Initially, prospective students must carefully select a program that not only offers the STEM designation but also includes a comprehensive curriculum integrating advanced data analytics. It is advisable to consult an academic adviser or counselor to review the curriculum, understand the key technologies it includes, and assess whether the student can cope with the coursework or may need to upskill.
Professional Networking
Actively participating in professional networking through career fairs, LinkedIn, and university alumni networks is vital. These connections can be instrumental in securing employment with US companies willing to sponsor an H-1B visa. Additionally, engaging in CPT (Curricular Practical Training) during the Master’s program can help open doors to better employment opportunities in the industry.
Job Offer and Sponsorship
Securing a job offer from a reputable company is the next step. Students should maintain a good GPA, focus on interview preparation, and enhance their soft skills. The support of a STEM designation can significantly facilitate this process, as it reassures employers of the candidate’s specialized skill set and extended work period available under the OPT.
Visa Application and Interview
Once a job offer is in hand, the graduate must navigate the H-1B visa application process diligently. This involves gathering relevant paperwork, thoroughly preparing for the visa interview, and highlighting the specialized skills acquired through the STEM program to strengthen the application.
As the global educational landscape continues to evolve, Indian commerce students now have promising new avenues to consider. STEM-designated accounting programs and STEM MBAs in Business Analytics or Accounting not only equip them with the cutting-edge skills needed in the modern economy but also provide a viable pathway to achieving their American dreams.
With a solid foundation in accounting and advanced analytical abilities, graduates are poised to become invaluable contributors to the dynamic US job market, setting the stage for a fulfilling professional journey.
(Author is Co-Founder and Global Instructor at Simandhar Education)
