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MIT Sloan MBA Program – Class Profile | Employment Report & Salaries (2019)

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 profile, and employment reports.

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

Here is a brief outline of the article:

MIT Sloan MBA Program: By the Numbers

MIT Sloan MBA - 2021 Class Profile

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.

MIT Sloan School of Management: History and Academic Focus

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: 2021 Class Profile

Sr. No MIT Sloan Class of 2021 Numbers
1 Median GMAT 730
2 Average GMAT 727
3 Average GPA 3.6
4 Class Size 416
5 GMAT Range 690-760
6 Average Work Experience 5 Years
7 Tuition Cost (per year) US $ 136,135
8 Employment Percentage (3 Months from Graduation) 93.60%
9 Median Base Salary US$ 140,000
10 Median Signing Bonus US $ 30,000
11 Female Students 41%
12 Countries Represented in Class 54
13 International Students 42%


MIT Sloan School of Management: Location

MIT Sloan - MBA Program and School Profile

MIT’s location in Cambridge, Massachusetts, places it – and thus it’s 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.

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 class of 2020 at MIT Sloan School of Management:

 

Round # Application Submission Deadline Decision Notification Deadline for applicants to reply to offer
Round 1 October 1, 2019 December 18, 2019 March 1, 2020
Round 2 January 21, 2020 March 31, 2020 May 1, 2020
Round 3 April 9, 2020 May 7, 2020 June 1, 2020

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.

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.

MIT Sloan MBA Program: Core Curriculum

During the first, or “Core,” semester, students are divided into six cohorts (also called oceans) of nearly 70 students in 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.

MIT Sloan MBA: 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 of the modern workplace and provides a safe place to learn new skills as well as test leadership abilities.

In the 3 semesters that follows, 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.

MIT Sloan School of Management: 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 and practitioner panels and presentations.

MIT Sloan MBA: Specializations

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.

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.

MIT Sloan MBA 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, 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, and 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 School of Management MBA Program: Class Profile

With 38% 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 in the representation of women in the class with 42% of its class comprised of women.

MIT Sloan MBA Program: Pre-MBA Major of the Incoming class of 2021

MIT Sloan MBA - Class of 2021 Pre-MBA Majors

Undergraduate Major Percentage
Engineering 33%
Economics 21%
Business & Commerce 18%
Humanities & Social Science 13%
Math & Science 11%
Computer Science 2%
Other 2%

With its emphasis on doing it is not surprising that a majority (31%) of the class come from an engineering background. However, undergraduates with business, commerce and economics backgrounds form a whopping 41% of the class. Humanities and other social sciences also form a significant (14%) of the class at MIT Sloan.

MIT Sloan MBA Program: 2021 Class Profile breakdown by Pre-MBA Industry

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

MIT Sloan MBA - Pre-MBA Industry

Pre-MBA Industry Percentage
Consulting 26%
Financial Services 17%
Technology, Media and Telecom 18%
Government & Public Sector 13%
Industrial 6%
Energy 4%
Healthcare/Life Sciences 9%
Consumer Goods and Services 4%
Professional Services 1%
Other 1%

MIT Sloan MBA Program: Class of 2019 Employment Report and Salaries

The median base salary offered to MIT Sloan graduates is $135,000. The median sign-on bonus reported by students ranges from $20,000 – $52,000. The median other compensation reported is $27,000. 97% of the class was employed at 3 months after graduation, and 72.5% 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.

MIT Sloan School School of Management: Employment by Industry (2019)

MIT Sloan is perhaps best known for its emphasis on technology. However, almost 32% of its class took consulting jobs. This is slightly greater than 29.4% of graduates taking up jobs in the Technology industry.

MIT Sloan MBA - Employment and Salaries By Industry

MIT Sloan MBA Class of 2019 Salary by Industry
Sr No. Industry Percentage Mean (in US $) Median (in US $) High (in US $)-Low (in US $)
Service Industries 81.60% 141,783 150,000 55,000-250,000
1 Consulting 30.70% 153,227 165,000 170,000-95,000
2 Software/Internet 28.70% 134,246 135,000 200,000-75,000
3 Investment Banking/Brokerage 6.30% 146,500 150,000 185,000-120,000
4 Private Equity & Venture Capital 5.30% 145,147 150,000 215,000-55,000
5 Investment Management 4.60% 130,846 130,000 250,000-74,460
6 Diversified Financial Services 3% 118,286 120,000 140,000-70,000
7 Retail 1.70% 122,500 130,000 150,000-95,000
8 Media/Entertainment/Sports 1.30% 115,000 100,000 100,000-100,000
Manufacturing Industries 15.40% 127,821 130,000 82,500-160,000
9 Pharma/Healthcare/Biotech 5.60% 129,452 130,000 160,000-95,000
10 Manufacturing 3.60% 119,232 130,000 145,000-82,500
11 Automotive/Airspace 2.30% 125,400 125,000 150,000-100,000
12 Computers/Electronics 1.30% 141,250 140,000 145,000-140,000
13 Consumer Products 1.30% 137,688 135,375 150,000-130,000
14 Non-Profit/Government 1.30% 103,900 123,000 125,000-70,000
15 Other 1.70% 111,750 119,000 120,000-60,000

MIT Sloan MBA Program: Employment by Function (2019)

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.

MIT Sloan MBA - Salaries and Employment by Function

MIT Sloan MBA Class of 2019 Salary by Function
Function Percentage Mean Median Low-High (in US $)
Consulting/Strategic Planning 38.30% $148,026 $160,000 90000-170000
Finance 15.50% $138,202 $145,000 55000-250000
Investment Banking 5.60% $147,800 $150,000 120000-185000
Investment Management 5.30% $126,613 $130,000 55000-250000
Other Finance 2.60% $125,968 $130,000 100000-150000
Venture Capital 2% $162,500 $150,000 130000-215000
Operations/Project Management 13.90% $130,901 $130,000 82500-175000
Product Management/Development 11.90% $137,267 $140,000 75000-200000
Leadership Development/General Management 6.90% $127,020 $130,000 77000-150000
Marketing 6.30% $134,347 $135,750 70000-170000
Business Development 3.30% $124,250 $126,000 60000-160000
Other 4% $108.40 $110,000 75000-145000

MIT Sloan MBA: Major Employers (2019)

Top employers of the 2018 MBA class of MIT Sloan in different industries are:

  • The Boston Consulting Group
  • Bain & Company
  • Google
  • McKinsey & Company
  • Amazon
  • Amgen
  • JP Morgan Chase & Co.
  • DiDi
  • EY-Parthenon
  • IBM
  • Microsoft
  • PwC Strategy&
  • Analysis Group
  • Bank of America Merrill Lynch
  • Deloitte Consulting
  • Goldman Sachs
  • L.E.K. Consulting
  • Massachusetts General Hospital
  • Wayfair

MIT Sloan School of Management: Notable Alumni

MIT Sloan - Notable Alumni

Following are some notable alumni of MIT Sloan School of Management

Carly Fiorina Former CEO of Hewlett Packard
Kofi Annan Former UN Secretary-General
Benjamin Netanyahu Prime Minister of Israel
William Clay Ford Jr. Executive Chairman of Ford Motors
Alan Mullaly Former CEO of Ford Motors
John W Thompson Chairman of Microsoft
John S Reed Former 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.

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