The STEM Path to the MBA:Innovative Recruiting Success

Southern Business Administration AssociationAtlanta - November 2014

The STEM Path to the MBA

• Modeled after medical schools’ early admissions programs.

• Targets incoming freshmen students who:– Major in STEM disciplines– 3.5 High School GPA– 28+ ACT

• The Program– Freshman thru Junior Year

• 1.5 credit hour STEM Business Honors course each semester while students pursue science, engineering or math majors

– Summer following Junior Year• Apply in November of junior year and be admitted to Graduate School• Complete 9 hours of MBA courses online

– Senior Year• 2-1.5 credit hour STEM Business Honors course capstone project• Graduate from STEM undergrad

– MBA Year• Complete remainder of MBA program in one calendar year• Summer: Online• Fall & Spring: In-residence in Tuscaloosa

The STEM Pathway to the MBA

• STEM Business Honors Courses– Sections limited to 35 students– Instructors:

• Tenured business faculty • Non-tenure-earning business faculty with STEM background:

– Chemical Engineer, MBA– Aerospace Engineer, Business Analytics, MBA– Mechanical Engineer, CEO, MBA, MS Engineering Controls, MS Accounting

– Faculty mentor assigned to stay with cohort for 4 years of the program• Ensures continuity of contact, retention• Allows faculty to closely monitor student progress

The STEM Path to the MBA

• STEM Business Honors Courses– Objectives:• Provide survey of various business disciplines• Intense exposure to innovation

– Builds students’ confidence in their understanding of technical and business aspects of innovation

– Provides unique understanding and perspective of business

• Teach character strengths & virtues• Build network among students

The STEM Path to the MBA

• STEM Business Honors Courses– Yearly Focus

• Freshman Year– Business Disciplines: Leadership & Marketing– Innovation Skill: Business Modeling– Virtues: Wisdom & Knowledge, Courage

• Sophomore Year– Business Disciplines: Accounting & Finance– Innovation Skill: Customer Development– Virtues: Humanity, Justice

• Junior Year– Business Disciplines: Operations Management & Global Business– Innovation Skill: Customer Validation– Virtues: Temperance, Transcendence

• Senior Year– Business Disciplines: Project Leadership

The STEM Path to the MBA

STEM Path to the MBAClass of 201631.6

ACT

18.2%Minority

81.8%White

56.8%Men

43.2%Women

84%Engineering

16%Science

4.15HS GPA

22States

64Students

33%In-State

67%Out-of-State

STEM Path to the MBAClass of 201731.4

ACT 31.8%In-State

68.2%Out-of-State

78.3%Men

21.7%Women

79.7%Engineering

11.8%Science

4.11HS GPA

25States

134Students

8.5%Healthcare

10.4%Minority

89.6%White

STEM Path to the MBAClass of 201831.6

ACT 24.2%In-State

75.8%Out-of-State

67.6%Men

32.4%Women

83.4%Engineering

12.2%Science

4.09HS GPA

29States

255Students

4.4%Healthcare

14.9%Minority

85.1%White

STEM Path to the MBAClass of 201931.5

ACT 22.6%In-State

77.4%Out-of-State

67.9%Men

32.1%Women

86.8%Engineering

11.6%Science

4.09HS GPA

34States

305Students(431 applied)

1.6%Healthcare

STEM Path to the MBAClass of 2019 – Breakdown of Science & Math Majors

Biology52%

Chemistry10%

Exercise & Sports

Science7%

Marine Science

7%

Math-emat-

ics7%

Micro-biology

10%Physics

7%

STEM Path to the MBAClass of 2019 – Breakdown of Engineering Majors

Aerospace Engineering8%

Architectural Engineering

0%Chemical En-

gineering24%

Civil Engineer-ing8%

Computer En-gineering

3%Computer Science

9%Electrical Engineering

4%

Engineering (undecided)

15%

Environmental Engineering

1%

Mechanical Engineering

26%

Metallurgical Engineering1%

STEM Path to the MBARetention of Class of 2016

(as of May 2014)

Class Entering Fall 2011 NHours

CompleteOverall

GPAUA

Hours UA GPA SAT TotalACT

CompositeHigh School

GPAAlabama Residents

Stayed in Major

Stayed in Division

Stayed at UA

Registered for Fall 2014

STEM Path to the MBA 64 94.79 3.50 72.76 3.49 1365.0 31.00 4.10 36.2% 58.6% 82.8% 90.6% 78.1%

STEM Majors, 28+ ACT 810 89.90 3.47 71.83 3.45 1355.5 30.97 4.05 52.1% 41.2% 75.1% 87.3% 74.6%

STEM Majors, <28 ACT 1193 72.84 2.90 65.51 2.88 1040.9 22.78 3.52 66.8% 25.9% 50.5% 66.6% 51.6%

Non-STEM Majors, 28+ ACT 860 88.03 3.55 71.41 3.54 1322.2 30.32 3.96 51.1% 26.6% 73.4% 87.0% 76.0%

Non-STEM Majors, <28 ACT 2720 72.50 2.92 66.25 2.90 1031.5 22.46 3.35 47.6% 26.5% 62.4% 67.0% 59.2%

STEM Path to the MBARetention of Class of 2017

(as of May 2014)

Class Entering Fall 2012 NHours

CompleteOverall

GPA UA Hours UA GPA SAT TotalACT

CompositeHigh School

GPAAlabama Residents

Stayed in Major

Stayed in Division

Stayed at UA

Registered for Fall 2014

STEM Path to the MBA 141 69.74 3.65 46.39 3.64 1396.0 32.07 4.16 31.1% 56.3% 82.2% 95.7% 89.4%

STEM Majors, 28+ ACT 948 64.01 3.54 44.37 3.52 1348.4 31.06 4.09 41.5% 52.6% 81.3% 92.6% 77.5%

STEM Majors, <28 ACT 1373 45.44 2.96 39.16 2.93 1062.3 22.99 3.54 60.1% 41.0% 58.3% 80.8% 52.9%

Non-STEM Majors, 28+ ACT 911 63.24 3.60 45.06 3.59 1323.0 30.51 3.96 46.5% 40.6% 78.7% 90.3% 81.7%

Non-STEM Majors, <28 ACT 2875 44.58 2.95 40.06 2.94 1026.6 22.41 3.35 43.3% 46.7% 68.8% 80.3% 64.1%

STEM Path to the MBAProgression toward MBA Applications

Class Entering Semester # as Freshmen # as Sophomores

# as Juniors

# as Seniors

MBA - in Year 2

MBA – in Year 3 GMAT

MBA – in Year 4

Fall 2011 64 54 42 31 0 21 676 -

Fall 2012 134 118 92 - 2 41 - -

• 2 Students from Class of 2017 Seeking Patent– During freshman year, invented technology to reduce fuel consumption

and brake maintenance expenses on tractor-trailers– Provision patent filing this fall

• Crimson Startup Program– Teaches participants lean customer discovery based on NSF approach– Teams go on to develop prototypes and perform customer validation– Averaging 8 teams per semester for last 6 semesters

• Over 600 new product/business ideas developed by STEM teams in 2013-2014

• Students/Program becoming major attraction for corporate recruiters

Student Accomplishments

• Avon/National Cancer Institute Breast Cancer Startup Challenge– 3 UA teams composed of STEM MBA students, Hudson Alpha and Quest

Diagnostics scientists, venture capitalists, medical/science entrepreneurs, attorney alums, and STEM, AIME, OTT directors

– 10 University programs selected nationally:• Duke, Northwestern, Wake Forest, Columbia, Texas Tech, North Carolina, NYU, Harvard,

Rutgers, Dartmouth, University of Alabama STEM Path to the MBA

– NCI Provides 10 patented technologies– University teams develop business plans for commercializing selected

technologies– NCI to provide startup funding for top team in each of the 10

technologies

• National Institutes of Health Neuro Startup Challenge

Student Accomplishments

• Non-Profit Consulting Group– Providing consulting services to international NGO working to build schools for

children and factories for women in Pakistan.– Quality Control, Distribution and Retailing, Business Model Performance

• Founding “Innovators Anonymous” Student Organization– Provides networking opportunities for students especially interested in

innovation, startups, and entrepreneurship

• Sponsoring Startup Weekend events– Brings campus and community together for a weekend of innovation and

entrepreneurship

Student Accomplishments

STEM Path to the MBA Advisory Board

• Provides feedback on curriculum, program structure• Assists us with identifying new opportunities for co-

ops, internships, jobs for students• Provide themes for business model generation

projects• Includes: ADTRAN, Alabama Power, Boeing, Brasfield

& Gorrie, Eastman Chemical, Egen, Evergreen Private Care, Harbert Venture Partners, International Paper, KKR, Proctor & Gamble, Southern Research Institute, U.S. Army, Mercedes, Tektronix, NASA

• Working with experts on STEM Advisory Board to develop UA fund to provide seed funding for STEM students wanting to take inventions and new product ideas forward, for prototyping, proof-of-concept testing, and commercialization

• Launching on pilot basis “CREATE Path to the MBA” track that would allow 28+ ACT/3.5 HS GPA students majoring in creative disciplines (e.g., drama, music, art, apparel design, textiles) to join with STEM Path students

The Future

The STEM Path to the MBA:Innovative Recruiting Success

Southern Business Administration AssociationAtlanta - November 2014