By Lindsay Johnson
The U.S. economy is at a pivotal moment. The rapidly changing nature of technology puts increased emphasis on science, technology, engineering, and mathematics (STEM) fields and the need for STEM skillsets across workplaces and regions. Not surprisingly, data from the U.S. Bureau of Labor Statistics (BLS) shows that the number of STEM occupations is on the rise. BLS’s Occupational Employment and Wage Statistics data projected a 10.8 percent increase by 2032, compared with a 2.3 percent increase in non-STEM occupations. Notably, these occupations offer a median annual wage of $101,650, compared with that of $46,680 among non-STEM occupations. The wage potential alone makes a compelling case for many Americans to consider a career in STEM, whether weighing short-term professional growth, long-term career stability, or the return on investment of an advanced degree.
This brief is a companion to STEM Graduate Education: Trends and Existing Interventions to Broaden STEM Graduate Pathways, which provides a snapshot of enrollment and completion trends in STEM education and offers an overview of existing interventions to increase the number of diverse graduates entering the labor force. This brief summarizes the major trends in the STEM labor market that influence STEM graduate education and provides supporting quantitative data. It concludes with considerations for higher education institutions and related stakeholders interested in better preparing graduate students for in-demand STEM jobs.
