HUMAN CAPITAL Career Trends

Science, Technology, Engineering, and Math (STEM) Occupations

Expanding STEM opportunities is critical to bolstering America’s long-term competitiveness on the global stage. Our nation’s future prosperity depends on excellence in science, technology, engineering, and mathematics. Investing in the capacity of regional, state, and local community-based and STEM-focused organizations that aspire to this goal is the foundation of a sustainable strategy to keep our country strong and competitive.

In 2019, Chinese universities produced 49,498 PhDs in STEM fields, while U.S. universities produced 33,759. Based on current enrollment patterns, the report projects that by 2025 China's yearly STEM Ph.D. graduates (77,179) will nearly double those in the United States (39,959).

The United States needs to act now, says Ana Paula Montanha, Managing Partner at Hayman-Woodward Human Capital Services. She highlights the needed steps:

Target talent recruitment immigration plan of STEM professionals.

Intensify and support excellence in basic research,

Support high-quality pre-college science and math education.

Forge closer ties between academia and industry, keeping borders open to promote international partnerships, and

Promote ethical research practices

Falling behind

The Unitade States trailed China in contributing to the growth in global research spending over the past 2 decades.

Based on K. Franklin/Science; (Data) The State of U.S. Science and Engineering 2022/ National Science Foundation

Health care occupations have experienced rapid, sustained growth in recent years and are a driving force behind the STEM shortage.

The U.S. Bureau of Labor Statistics projects growth in nurse practitioners alone to reach 35.2 percent from 2014 to 2024.

Similarly, the number of physical therapists and physician’s assistants are projected to rise by over 30 percent each. This may help to explain the expected shortage of almost 700,000 U.S. citizens in STEM healthcare occupations by 2024.

Some STEM occupations with projected surpluses, like sociologists and related workers, are expected to contract over the next decade.

IF CURRENT TRENDS CONTINUE, IN 2024: THE U.S. WILL BE SHORT 1.1 MILLION STEM WORKERS OVERALL.

APPROXIMATELY ONE MILLION OF THE UNMET STEM WORKER DEMAND WILL BE FOR U.S. CITIZENS, AND

THE HEALTH CARE INDUSTRY IS AMONG THE FASTEST-GROWING IN THE ECONOMY AND LIKELY TO FACE THE GREATEST SHORTAGE OF STEM WORKERS, FOLLOWED BY THE INFORMATION TECHNOLOGY INDUSTRY.

Science, technology, engineering, and math (STEM) occupations include computer and mathematical, architecture and engineering, and life and physical science occupations, as well as managerial and postsecondary teaching occupations related to these functional areas and sales occupations requiring scientific or technical knowledge at the postsecondary level.

To determine what, if any, STEM shortage likely exists we first need to identify which jobs qualify as STEM.

While there is no universally accepted definition, the Standard Occupation Classification (SOC) Policy Committee submitted a recommended list of 184 STEM occupations to the Office of Management in Budget (OMB) in 2010. These occupation codes match the codes used by the Bureau of Labor Statistics (BLS).

Talent from abroad

A majority of computer scientists and engineers with Ph.D.s working in the United States were born overseas.

(Graphic) K. Franklin/Science; (Data) The State of U.S. Science and Engineering 2022/ National Science Foundation

The UK is also experiencing a science, technology, engineering, and mathematics (STEM) skills shortage. According to a study by the Engineering Design Show, more than 50% of engineering firms find it difficult to recruit and retain staff with the skills and knowledge necessary for the job. In response to this, the government is investing millions of pounds into STEM education. This means mechanical engineering will be more accessible for aspiring scientists from all backgrounds.

As of March 2021, the average salary for an entrylevel Mechanical Engineering role in the UK is £36,092, ranging between £25,429 and £43,111. With the investments in STEM education and the 10% rise in wages, there has never been a better time to embark on a mechanical engineering course.

Ana Paula Montanha

Editor-in-Chief

Mrs. Montanha is a seasoned executive and entrepreneur with global human resources experience in recruitment. Mrs. Montanha’s industry and consulting experience enable her to assist companies seeking to drive significant change, ranging from turnarounds to high growth. She served as a strategy, finance, and executive for distinguished companies such as Shell, Vésper, Pamcary, Tandberg, DHR International, and Jobplex Inc. In early 2020 she Co-Founded HAYMAN-WOODWARD Human Capital Services, where she serves as Managing Partner. Mrs. Montanha holds a master’s in business administration from Stephen M. Ross School of Business, the business school of the University of Michigan, a graduate degree in marketing from Fundação Getúlio Vargas, and a bachelor’s in economics from Universidade Federal do Rio de Janeiro.