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MIT Sloan School of Management – Class 2024 Profile and Employment Report 2021-22

MIT Sloan School of Management – Class 2024 Profile and Employment Report 2021-22
A 9 min read

The full-time MBA Program at MIT Sloan School of Management is a two-year duration program. The median GMAT score for MBA Class 2024 is 730, with a GMAT range between 690-760.

No other business school embodies entrepreneurship, innovation, and invention in its culture like MIT Sloan School of Management. Situated in Cambridge in the greater Boston area, which is also called one of the best college towns in the US, the MIT Sloan MBA program is one of the most selective in the world and ranks #1 in more disciplines than any other business school.

In this article, we take a look at the MIT Sloan School of Management’s MBA program, its class 2024 profile, and its employment report 2021-22.

MIT Sloan School of Management - MIT Sloan MBA - Class Profile _ Employment Reports _ Notable Alumni

Getting into a top MBA program like MIT Sloan requires a 700+ GMAT score, If you are planning to take the GMAT, we can help you by giving you access to quality online content to prepare.  We are the most reviewed GMAT prep company on GMAT Club with more than 2400 reviews. Why don’t you take a free trial and judge it for yourself? 

MIT Sloan School of Management MBA Program

MIT’s motto “Mens et Manus,” which translates to “Mind and Hand” succinctly represents the practical approach to management education taken by the MIT Sloan MBA program.

Established in 1914 as course XV also known as Engineering Administration Curriculum, the scope and depth of the program grew steadily in response to advances in the theory and practice of management.

In 1964, It was renamed to Alfred P. Sloan School of Management after its benefactor who also helped establish the first university-based mid-career program called the Sloan Fellows Program. Its academics are considered extremely demanding even by business school standards, with a great emphasis on analytical reasoning.

It offers a multitude of hands-on and experiential learning opportunities such as action learning labs, innovation teams, study tours, student treks, and club activities. These enable students to connect to the broader MIT school system as well as the companies and organizations where they put their learning to practice in solving management challenges in organizations around the world.

MIT Sloan MBA Class Profile 2024

With 40% of international students in its MBA class, MIT Sloan has one of the most international classes of any of the top-tier business schools. It also leads to the representation of women in the class with 46% of its class comprised of women.

Take a look at the MIT Sloan MBA Class Profile 2024:

Sr. NoMIT Sloan Class of 2024Numbers
1Median GMAT730
2Median GPA3.62
3Class Size408
4GMAT Range690-760
5Average Work Experience5 Years
6MBA Cost (per year)$ 86,400
7Female Students46%
8Countries Represented in Class63
9International Students40%
5-Year Trend for MIT Sloan MBA Class Profile
S.NoMIT Sloan School of Business20202021202220232024
1Average GMAT728727730 (Median)730 (Median)
2Average GPA3.63363.63.593.62
3Class Size409416484450408
4Work Experience (Average)4.9 years5 years5 years5 years5 years
5Tuition Cost (per year/Single student)$77,168$77,168$80,400$80,400$ 86,400
6% of students reported jobs received after 90 days95.5%95.9%
7Median Base Salary$150,000$150,000
8Median Signing Bonus$34,000$30,000

With 40% of international students in its MBA class, MIT Sloan has one of the most international classes of any of the top-tier business schools. It also leads to the representation of women in the class with 46% of its class comprising women.

Getting into a top MBA program like MIT Sloan requires a 700+ GMAT score, If you are planning to take the GMAT, we can help you by giving you access to quality online content to prepare.  We are the most reviewed GMAT prep company on GMAT Club with more than 2400 reviews. Why don’t you take a free trial and judge it for yourself? 

Pre-MBA Major of the Incoming class of 2024

Undergraduate MajorPercentage
Engineering29%
Economics17%
Business23%
Humanities and Social Science12%
Math & Science15%
Computer Science2%
Other1%

With its emphasis on doing it is not surprising that a majority 29% of the class come from an engineering background. However, undergraduates with business and economics backgrounds form a whopping 40% of the class. Humanities and other social sciences also form a significant (30%) of the class at MIT Sloan.

Pre-MBA Industry of the incoming class of 2024

Consulting and financial services form a major part of the incoming class in 2024. Furthermore, technology, media, and telecom form the third-largest pre-MBA employment industry.

Pre-MBA IndustryPercentage
Consulting23%
Financial Services23%
Technology14%
Government, education, and non-profit14%
Manufacturing3%
Energy4%
Healthcare, Pharmaceutical, Biotechnology6%
Consumer Products, Retail3%
Automotive, Transportation, Defense2%
Media, Entertainment, Sports0.5%
Other7%

MIT Sloan MBA Campus Location

MIT’s location in Cambridge, Massachusetts, places it – and thus its Sloan School of Management – at the heart of the greater Boston area.

Boston itself possesses a college town feel with an urban yet not overwhelming environment and is home to other famous schools such as Harvard, Boston College, and Babson.

MIT Sloan - MBA Program and School Profile

Accessibility

Boston is easily accessible to students because of the “T” (short for MBTA, or Massachusetts Bay Transportation Authority), which puts all of Boston’s cultural and educational resources within students’ reach.

Cambridge, measuring just 6.4 square miles, encompasses an array of cultural, educational, and recreational resources and all the academic opportunities available via Harvard University and MIT. Cambridge is also home to more Nobel Laureates and American presidents than any other city in America.

MIT Sloan School of Management benefits from its integration with the broader MIT community with access to cutting-edge research labs and other facilities. Sloan students or “Sloanies” as they are affectionately called can take classes university-wide, not just at the business school.

Next, we take a look at the application deadlines for MIT Sloan’s MBA Program.

MIT Sloan MBA Application Deadlines

Following are the application deadlines and decision schedules for the various rounds of admission for the August 2023 intake at MIT Sloan School of Management:

RoundsApplication Submission DeadlineDecision Notification
Round 1September 29, 2022December 14, 2022
Round 2January 18, 2023April 3, 2023
Round 3April 11, 2023May 18, 2023

Besides the traditional application requirements such as a resume, letters of recommendation, etc., MIT Sloan additionally requires applicants to upload an organizational chart that outlines the internal structure of your department or organization.

Planning to pursue your MBA at MIT Sloan? Here is a list of articles that can help you with the MIT Sloan MBA Application:

MIT Sloan MBA Program Academic Structure and Curriculum

MIT Sloan is known for its focus on analytical rigor in its academics and curriculum. With a single semester of core classes, students have the opportunity to truly shape and personalize their MBA education.

Core Curriculum

During the first, or “Core,” semester, students are divided into six cohorts (also called oceans) of nearly 70 students each from a rich mix of backgrounds, interests, and experiences. Each cohort moves through the core semester together.

The MIT Sloan core curriculum consists of the following 5 courses:

  1. Economic analysis for business decisions
  2. Data, Models, and Decisions
  3. Communication for leaders
  4. Organizational Processes
  5. Financial Accounting

Students may also choose one elective out of finance, operations management, or competitive strategy.

Cohort System

Within each cohort, smaller teams of 6-7 students work together throughout the core semester on assignments, collaborate on projects, and study for exams. The diversity of the team parallels the modern workplace and provides a safe place to learn new skills as well as test leadership abilities.

In the 3 semesters that follow, after completion of the core curriculum, students have the flexibility to pursue their personal goals and interests throughout the rest of the time at MIT Sloan. Students can also take MIT Sloan-approved courses at Harvard.

Sloan Innovation Period

The Sloan Innovation Period a 1-week long period occurring at the midpoint of every semester 1 is another innovation in the curriculum provided by MIT Sloan. It provides students with an intensive week of experiential leadership learning as well as exposure to groundbreaking faculty work and research. Students can be a part of leadership development seminars that include real-time simulations, personal workshops with senior executives, practitioner panels, and presentations.

Specialisations

For students who need a little more guidance or those who want to deep dive into an area of interest, MIT Sloan offers 3 MBA tracks or specializations:

  1. Enterprise Management Track
  2. Entrepreneurship and Innovation Track
  3. Finance Track

Graduates who complete a track receive a certificate in addition to their MBA Degree.

Getting into a top MBA program like MIT Sloan requires a 700+ GMAT score, If you are planning to take the GMAT, we can help you by giving you access to quality online content to prepare.  We are the most reviewed GMAT prep company on GMAT Club with more than 2400 reviews. Why don’t you take a free trial and judge it for yourself? 

MIT Sloan School of Management: Philosophy and Strength

MIT Sloan’s Motto is: “To develop principled, innovative leaders who improve the world and to generate ideas that advance management practice.”

Through its curriculum and various other experiential learning opportunities, the MIT Sloan MBA program focuses on “doing things” – not just learning management theory. The comparatively smaller class size helps to create a collaborative and tight-knit community that further enhances the application-based learning focus of the program.

Action Learning

The action learning philosophy extends beyond the classroom to extracurricular activities run by MIT Sloan students. The over 70 MIT Sloan clubs offer the opportunity to imagine, develop, and execute events ranging from mixers, and conferences to trips abroad. The MIT Sloan sports analytics conference is the largest sports conference in the world.

Creativity, invention, and innovation are constant themes at the school. More than 650 companies have been funded by the alumni of the school. Famous ones include Akamai, Zipcar, Gartner, E*Trade, Genentech, Okta, Teradyne, and HubSpot. Startups born out of MIT have reported revenues of over $2 trillion, greater than the GDP of the 10th largest world economy.

MIT $100K Entrepreneurship Competition

The annual MIT $100K Entrepreneurship Competition is one of the largest business plan competitions in the world and has helped launch more than 130 companies with a market capitalization of over $15 Billion.

MIT Sloan MBA Program Employment Report and Salaries 2021-2022

The median base salary offered to MIT Sloan graduates is $1,65,000. The median sign-on bonus reported by students is $30,000. 95.9% of the class was employed 3 months after graduation, and 63.5% of job offers were through school-facilitated activities. Following is a detailed breakdown of the employment by Industry and Function of the full-time MBA program at MIT Sloan School of Management.

Employment by Industry

MIT Sloan is perhaps best known for its emphasis on technology. However, almost 28.3% of its class took consulting jobs. This is slightly greater than 25.0% of graduates taking up jobs in the Technology industry.

The below chart represents the top 3 industries of employment over time:

Employment by IndustryPercentageMedian Salary
Consulting31.2%$175,000
Software/Internet19.3%$150,000
Financial22.6%$170,000
Retail3.6%$141,000
Media/Entertainment/sports2.0%$137,500
Other services1.8%$125,000
Manufacturing industries2.0%$140,000
Others industries2.1%$132,000

Employment by Function

Consulting/Strategic Planning, Product Management, and Finance are the top 3 functions chosen by graduates of the MIT Sloan MBA program. Following is a breakdown of employment by function.

Employment by Function Percentage Median Salary Salary Range
Consulting/strategic planning 38.3%$175,000$95,000-$190,000
Finance18.1%$172,000$90,000-$270,000
Product management/development 17.8%$155,000$67000-$215,000
Operations/Project Management 9.8%$145,000$95,000-$190,000
Leadership program/General Management 5.3%$140,000$120,000-$155,000
Marketing 2.4%$145,000$116,000-$179,000
Business development 5.0%$145,000$95,000-$190,000
Other functions 0.9%

Getting into a top MBA program like MIT Sloan requires a 700+ GMAT score, If you are planning to take the GMAT, we can help you by giving you access to quality online content to prepare.  We are the most reviewed GMAT prep company on GMAT Club with more than 2400 reviews. Why don’t you take a free trial and judge it for yourself? 

MIT Sloan School of Management  Major Employers

Top employers of the 2022-2023 MBA class of MIT Sloan in different industries are:

TOP EMPLOYERS# OF HIRES
The Boston Consulting Group26
Amazon25
McKinsey & Company25
Bain & Company15
Apple8
Goldman Sachs5
Google3
Adobe3
Facebook3
Morgan Stanley3
NVIDIA Corporation3
Nasdaq3
Valor Capital Group3

MIT Sloan School of Management Notable Alumni

MIT Sloan - Notable Alumni

Following are some notable alumni of MIT Sloan School of Management

Carly FiorinaFormer CEO of Hewlett Packard
Kofi AnnanFormer UN Secretary-General
Benjamin NetanyahuPrime Minister of Israel
William Clay Ford Jr.Executive Chairman of Ford Motors
Alan MullalyFormer CEO of Ford Motors
John W ThompsonChairman of Microsoft
John S ReedFormer Chairman of New York Stock Exchange and Former CEO of Citicorp.

Other MBA Programs to consider

The following are some other business schools that are a close match to MIT Sloan in terms of median GMAT score, ranking, and focus. We have listed the schools by stretch, match, and safety.

Stretch: Harvard, Stanford, Wharton

Match: Columbia, Dartmouth Tuck, Northwestern’s Kellogg School, Berkeley Haas, Duke Fuqua

Safety: NYU Stern, Michigan Ross, Yale SOM, Cornell

We hope this article helps you learn more about the MIT Sloan MBA Program. Feel free to reach out to us at acethegmat@e-gmat.com with further questions.

FAQs- MIT Sloan MBA Program

How long is MBA at MIT Sloan?

MIT Sloan offers a two-year, full-time MBA program.

What GPA do I need for MIT Sloan MBA?

The average GPA for the incoming class of 2024 is 3.62.

How much is an MBA at MIT Sloan?

For the incoming MIT Sloan MBA Batch 2024, the MBA Tuition cost is $86,400. However, there are other costs such as accommodation and the cost of living that you incur. Learn how to reduce your MBA cost here.

What GMAT Score do I need for MIT Sloan MBA?

You need at least a 700+ GMAT Score for top business schools like MIT Sloan. The median GMAT score for MIT Sloan’s incoming class of 2024 is 730, with a GMAT range of 690-760.

Which are the top Business schools in the USA?

Some of the top MBA programs in the USA are:
1. Stanford GSB
2. Wharton School of Business
3. Kellogg School of Management
4. Harvard Business School
5. UC Berkeley
Planning to pursue an MBA in the USA? Here is a guide for MBA in USA

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