The purpose of the study is to analyze the key challenges in the implementation of STEM education in Russia and the largest economies in terms of employment promotion and increasing students’ competitiveness. The research is based on the system analysis aimed at assessing the current status of STEM education in Russia and highlighting its key problems, and the comparative analysis is focused on comparing the approaches to STEM education implementation in Russia and other countries. It has been shown that STEM approach is being most actively implemented in the American system of education, which attracts young people to STEM careers through state and non-formal STEM education programs. The research describes a scheme of cooperation and partnership between stakeholders and the federal coordinating body of the Russian Federation providing support for the STEM education and aimed at the interaction between state and public institutions.