STEM designation for accounting programs: Insights from accounting department directors

Abstract

With the increasing demand for tech-savvy accounting graduates, numerous accounting programs are considering the value of obtaining STEM designation. We conduct semi-structured interviews of fourteen accounting department directors with STEM-designated graduate programs. The interviews encompass three broad themes: (1) Motivation for pursuing STEM designation and expected benefits; (2) Process for acquiring the STEM designation, including curriculum modifications and related challenges; and (3) Resources, faculty training and hiring, and outcomes of STEM designation. The interviewees submit that STEM programs are vital for attracting international students. They report other advantages, including increased program visibility, greater interest from domestic students in STEM programs, and enhanced career opportunities for students from a curriculum focused on data analytics. In addition, some interviewees report that their technology programs are the only ones gaining students. Participants further reveal that international students graduating from STEM accounting programs are securing employment with Big Four, regional, and local accounting firms. Finally, we relate the findings to change theory and discuss recommendations for university accounting programs.