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MIT Sloan School of Management – MIT Sloan MBA Program – Class Profile | Employment Report | Notable Alumni

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 NumbersMIT Sloan School of Management - 2020 Class Profile of the MIT 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.

 

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 Program Statistics:

Sr. No MIT Sloan Class of 2020 Numbers
1 Median GMAT 730
2 Average GMAT 728
3 Average GPA 3.48
4 Class Size 409
5 GMAT Range 700 – 760
6 Average Work Experience 4.9 Years
7 Tuition Cost (per year) US $ 111,570
8 Employment Percentage (3 Months from Graduation) 93.60%
9 Median Base Salary US$ 135,000
10 Median Signing Bonus US $ 30,000
11 Female Students 42%
12 Countries Represented in Class 49
13 International Students 38%


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 School of Management: 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 recommendations, etc., MIT Sloan additionally requires applicants to upload an organizational chart which 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 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 School of Management: 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 2020

MIT Sloan School of Management - 2020 MIT Sloan MBA Class Breakdown by Pre-MBA Major

Pre-MBA Major Percentage
Engineering 31%
Economics 21%
Business and Commerce 20%
Humanities and Social Sciences 14%
Math and Science 7%
Computer Science 2%
Other 5%

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: 2020 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 School of Management - MIT Sloan MBA Class of 2020 - Pre-MBA breakdown by Industry

Consulting 21%
Financial Services 19%
Technology, Media and Telecom 18%
Government and Public Sector 14%
Industrials 8%
Energy 7%
Health Care/ Life Sciences 6%
Consumer Goods and Services 5%
Professional Services 2%

 

MIT Sloan: Employment and Career Outcomes

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. 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

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 School of Management - Employment by Industry

Industry Percentage  Median Salary (in US $) Mean Salary (in US $) Low Salary (in US $) High Salary (in US $)
Service Industries 78.70% 135,000 136,690 50,000 230,000
Consulting 31.60% 147,000 142,988 73,677 185,000
Software/Internet 26.70% 130,000 133,317 115,000 199,999
Investment Management 6.90% 132,500 139,000 115,000 230,000
Private Equity/Venture Capital 3.80% 125,000 133,727 60,000 175,000
Investment Banking/ Brokerage 3.80% 125,000 133,636 125,000 150,000
Retail 2.80% 120,000 125,625 100,000 150,000
Diversified Financial Services 1.70% 115,000 113,000 95,000 130,000
Media/Entertainment/Sports 1.40% 125,000 110,000 50,000 140,000
Manufacturing Industries 18.80% 125,000 128,370 85,000 170,000
Automotive/Aerospace 5.60% 135,000 138,125 115,000 170,000
Oil/Energy 4.20% 120,000 116,667 85,000 130,000
Consumer Products 3.10% 122,000 120,556 90,000 138,000
Manufacturing: Other 2.80% 122,500 124,375 120,000 135,000
Pharmaceutical/Healthcare 1.70% 130,000 133,400 120,000 160,000
Computers/Electronics 1.40% 140,000 143,750 140,000 155,000
Non-Profit 1.40% 90,000 92,000 72,000 116,000
Other 1.10% 155,000 182,500 142,000 250,000

MIT Sloan School of Management: 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 the employment by function.

MIT Sloan School of Management - Employment by Function

Function Percentage Median Salary (in US $) Mean Salary (in US $) Low Salary (in US $) High Salary (in US $)
Consulting/Strategic Planning 38.50% 147,000 139,186 50,000 185,000
Product Management/Development 14.70% 135,000 136,795 120,000 199,999
Finance 14.00% 125,000 129,256 60,000 230,000
Investment Management 5.60% 127,500 138,750 115,000 230,000
Finance: Other 3.40% 125,000 125,111 111,000 130,000
Investment Banking 2.10% 137,500 137,500 125,000 150,000
Venture Capital 1.80% 85,000 100,000 60,000 170,000
Sales & Trading 1.10% 130,000 123,333 105,000 135,000
Operation/Project Management 12.90% 130,000 133,919 95,000 175,000
Leadership Development Program/General Management 9.80% 122,500 126,786 95,000 150,000
Marketing/Sales 4.90% 127,500 130,143 115,000 150,000
Business Development 3.20% 130,000 131,667 100,000 160,000
Other 2.00% 127,500 142,917 85,000 250,000

MIT Sloan School of Management: Major Employers

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

  • McKinsey & Company
  • Bain & Company
  • The Boston Consulting Group
  • Amazon
  • Google
  • Microsoft
  • Fidelity Investments
  • Goldman Sachs Group
  • Bank of America Merill Lynch
  • Facebook
  • Tesla
  • JP Morgan Chase
  • Credit Suisse
  • IBM
  • Hubspot
  • Ford Motor Company
  • Blue Origin
  • Boeing
  • Apple
  • Parthenon-EY

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

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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