In your business school application process, you’ve probably analyzed every aspect of your target schools, including program specialties, current student profiles, and the school’s national ranking. However, out of all of these components, arguably one of the most important factors to research when deciding to go to business school is a program’s employment report.
The employment report tells you which industries a program's students recently entered. This information can then tell you if that school would offer you the most assistance in pursuing your desired career path.
This article will be taking a deeper dive into the MIT Sloan Employment Report, exploring the stats of the most recent graduates to help you decide if MIT Sloan is the best fit for you and your career goals.
Why Apply to MIT Sloan?
As one of the M7 business schools, MIT Sloan is considered one of the top business schools in the United States. US News & World Report ranks the program as #5 in “Best Business Schools,” while Forbes ranks it as #7.
However, these rankings only tell us about the notability of the MBA program in general. To fully grasp how well the program will fit your needs, it is essential to assess the specialties that make the MIT Sloan MBA unique.
What Is MIT Sloan Known For?
Along with being a prestigious institution in general, MIT Sloan’s MBA program has many unique qualities that may play a vital role in your decision to apply.
First, MIT Sloan has a notable reputation in the field of finance. In the 1960s, “long before many other business schools recognized finance as a distinct field of study … MIT Sloan founded the Finance Group to further advance the study and application of the science of finance.” As a pioneer in this field, MIT Sloan is responsible for “breakthroughs in financial economics … such as the Black-Scholes/Merton option-pricing model [and] the Modigliani-Miller theorem.”
Furthermore, Sloan has a finance research program that “spans all of the sub-disciplines that financial economics has produced over the last four decades.” The professors in this group teach courses in the MBA program, allowing students to gain further insight into this field of study.
So, if you are hoping to further your career in finance, MIT Sloan would be an excellent option for you.
Along with that, MIT Sloan has a reputation for global outreach. According to US News & World Report, “The academic courses [at MIT Sloan] are inherently global in nature, and there are dozens of opportunities for students to travel and study abroad.” The school maintains this global focus in its student organizations as well, “with business clubs for nations around the world.”
Finally, MIT Sloan is a great option for students that are not entirely sure about the career path that they want to take. On the first day, students participate in a program called Career Core, where they “analyze personal strengths, interests, and values in order to effectively market themselves, and learn about the current job market and opportunities specifically for MBAs.” Furthermore, Forbes explains how “85% of students go on to change their career trajectory" after their Career Core experience. Because of this program, MIT Sloan proves to be a valuable school for students who have many strengths but are unsure where they want to go next.
Who is MIT Sloan looking for?
MIT Sloan gives a distinct depiction of the type of students that they are looking to admit to the MBA program:
“We seek applicants with exceptional intellectual abilities and the drive and determination to put their stamp on the world. We welcome people who are independent, authentic, and fearlessly creative — true doers. We want people who can redefine solutions to conventional problems, and strive to preempt unconventional dilemmas with inventive ideas. We demand integrity and respect passion.”
Along with this description, MIT Sloan provides a detailed class profile of their most recent MBA class. By evaluating this information about current students, you can assess how well you might fit in at MIT Sloan and gauge your chances of acceptance. The following is a detailed outline of the most recent MIT Sloan MBA class.
First, assessing the academic profile of a class can help you know where you stand in comparison to other MIT Sloan MBA students. Using this info, you can begin to understand how well your academic performance aligns with your potential future peers.
Academics
Median Undergraduate GPA: 3.54
Median GMAT Score: 720
GMAT Range (middle 80%): 680-760
GRE Quant Range (middle 80%): 156-168
GRE Verbal Range (middle 80%): 155-167
As you can see, MIT Sloan students are highly competitive academically. However, it may bring you comfort to know that you don't have to have perfect test scores or a 4.0 GPA to gain admission to the program. In fact, there are cases of people with lower GPAs gaining admission to MIT Sloan’s MBA program. If you are in the same boat, don’t let it discourage you.
Next, evaluating the pre-MBA industry of current students will show you the kinds of professionals you could be sharing the classroom with at MIT Sloan.
You might assume that you need to have an extensive background in the business world to gain admission to an MBA program, especially one as renowned as MIT Sloan. However, there are cases of people getting into business school without a business background, and according to these statistics, MIT Sloan can be one of those schools. In fact, the school specifies on their admissions site that they “welcome applications from college graduates from all areas of concentration, including the humanities, the social and physical sciences, business and engineering.”
Many MBA programs value a diversity of perspectives to maximize learning, and MIT Sloan is no exception. While many students in this profile have career experience in business-related fields such as consulting and finance, there are also many students with backgrounds in other areas, such as education, entertainment, and transportation. If you have a non-business background, you likely have a unique outlook that the Sloan admissions committee finds valuable.
Furthermore, it is also important to note that the average duration of work experience in the recent MBA class is five years. This average is typical of most MBA programs. From an admissions committee’s perspective, if you have a few years of professional experience under your belt, you can offer more detailed insight into the learning environment. However, even if you don't have an extensive work background, don't worry too much! Work experience is not a requirement for admission to the MIT Sloan MBA program, and if you can make up for your lack of professional experience in the rest of your application, you could still have a chance at acceptance.
Like the pre-MBA industries, you can find many variations in the students' undergraduate majors.
It is evident from this information that even if you didn’t major in a business-related field, you don’t have to worry about that affecting your chances at admission. According to the class profile, business majors are not even the most represented group of people in the MIT Sloan MBA class. With about one in three students possessing an engineering degree, and a large percentage of people that majored in humanities, social science, or other fields, you shouldn’t worry about how your possible lack of a business degree might impact your chances at admission.
Finally, the diversity of the most recent MBA class is an important factor to assess. There are over 51 countries represented in MIT Sloan’s most recent MBA class, and 33% of the class consists of international students. Furthermore, 38% of students in the class profile are women.
MIT Sloan also provides extensive information regarding the US race and ethnicity of its students.
This chart illustrates “US race/ethnicity enrollment … as a percent of US citizens and permanent residents.” It also includes a multi-dimensional aspect of racial or ethnic identification. The purpose of including this information is “to more accurately represent the racial and ethnic identities of our students, multi-dimensional reporting includes the number of students who identify with each race or ethnicity.” A student that identifies with more than one race or ethnicity is represented more than once, leading to a total that is greater than 100%.
It is clear from this class profile that MIT Sloan’s MBA program has a variety of diverse perspectives.
An In-Depth Look at the MIT Sloan Employment Report
The class profile is a great way to understand the student body and gauge your chances of admission to MIT Sloan. However, the MIT Sloan Employment Report can take you a step even further in your consideration.
The MIT Sloan Employment Report can offer you an idea of how the school will serve your unique career goals and educational needs.
General Overlook
According to Susan Sandler Brennan, Assistant Dean of the MIT Sloan Career Development Office, 95.5% of students in the most recent MBA class “receiv[ed] offers within three months of graduation.”
The Sloan MIT Employment Report also offers detailed information on the program's graduates' annual salaries and signing bonuses. For the most recent class, the students' yearly base salaries ranged from $50,000 - $230,000 with a mean of $144,140 (click here to calculate this as an hourly rate). Furthermore, the average signing bonus was $34,000, with "79% of students accepting an offer and providing usable salary data reported receiving a signing bonus."
Top Industries
The top industry that Sloan graduates pursued was consulting, where 31.1% of students received offers. The annual salary of these consulting positions ranged from $100,000 - $170,000, and the mean wage was $157,530. These numbers show that if you are hoping to pursue a career in consulting, then MIT Sloan could be an excellent option for you.
The second highest industry that Sloan MBA students entered upon graduation was technology, which includes the fields of software/Internet, computers/electronics, and telecommunications. According to the employment report, 27.6% of students accepted offers in these fields, and their annual salaries vary by area.
For those entering the field of software/Internet, the annual salary ranged from $50,000 - $165,000 with a mean of $137,715. For graduates in the computers/electronics field, the annual salaries ranged from $130,000 - $230,000 with an average salary of $170,000. For the field of telecommunications, there were not enough data points to provide usable salary information.
Finally, finance was the third-highest industry pursued by Sloan MBA students, with 18.5% of graduates entering this industry. These professionals had an annual salary range of $72,000 - $200,000, and the mean salary was $146,207.
However, while consulting, technology, and finance were the top industries Sloan graduates entered, there were also many other fields that these MBA students pursued. One such industry was pharmaceutical/healthcare/biotechnology, where 5.6% of graduates found employment. Furthermore, in both the fields of automotive/aerospace and consumer products, 3.1% of students accepted offers.
Overall, if you are hoping to enter the fields of consulting, technology, or finance, then MIT Sloan could be a good option for you. However, if you are also interested in pursuing smaller fields, such as healthcare or aerospace, there are opportunities that you can find as a Sloan graduate.
Top Employers
The MIT Sloan Employment Report also outlines the companies from which graduates received offers. According to Brennan, “students accepted opportunities with 300 companies … around the country and the world.” Of these companies, 52% hired Sloan graduates for the first time, and 47% of students “accepted positions with employers who hired three or more Sloanies.”
From these numbers, it is clear that there are many opportunities available for Sloan graduates. However, suppose you are hoping to work within a particular company. In that case, you might be wondering about the likelihood of receiving an offer if you were to attend MIT Sloan. Fortunately, the MIT Sloan Employment Report also distinguishes the top employers of Sloan graduates in the most recent graduating class.
Taking the top spot, with the employment of 36 Sloan graduates, is the Boston Consulting Group. Next were McKinsey & Company with 20 hires, and Amazon with 19. Google was fourth with 14 hires, followed by Bain & Company with 13. If you aspire to work with these companies, MIT Sloan could be a good business school for you.
Full-Time Offer Sources
Another important highlight of the MIT Sloan Employment Report is the section on job offer sources. According to the report, 68.6% of full-time offers were facilitated by the school, meaning that the opportunities at MIT Sloan helped these graduates earn full-time employment offers.
Of these school-facilitated offers, 36.9% resulted from summer internships. Interviews through on-campus recruiting afforded offers to 10% of students, and 8.9% of students found opportunities through MIT or Sloan job postings.
Overall, a large number of students found full-time offers through the opportunities that Sloan provided to them. This shows that MIT Sloan could grant you a multitude of pathways to kickstarting your career post-graduation.
Internships
Additionally, the MIT Sloan Employment Report offers the same kind of information about the internships of the school’s current MBA students as it does about graduates’ employment. Looking at this section of the report can tell you what kind of opportunities you might find while attending Sloan.
The top industries in which Sloan students interned were technology, finance, and consulting. Also, just like in the full-time offers section, the internships were largely school-facilitated and took place in the United States.
The top employers for interns were also highly similar to the full-time employees. First was the Boston Consulting Group with 24 interns, Amazon with 14, McKinsey and Company with 10, Bain and Company with 9, and Google with 9. So, if you are interested in these companies, Sloan might be an excellent school for you to earn your MBA.
Finally, the report provides the monthly salaries of Sloan interns. In service industries, the monthly salaries ranged from $500-$13,750, with an average of $8,872. Then, in manufacturing industries, the salary ranged from $2,927-$14,230 with a mean salary of $7,372. Finally, in other industries, which includes nonprofit, education, and government, the salaries ranged from $2,300-$9,000 with a mean salary of $5,080.
So, if you are wondering what your employment opportunities might look like while you are attending Sloan, you can gain a great deal of insight through the Internship section of the MIT Sloan Employment Report.
FAQs
1. How many MIT Sloan students received offers at graduation?
According to the MIT Sloan Employment Report, 85.4% of MBA students received offers at or before graduation.
2. Were there many Sloan graduates that received offers from outside of the United States?
About 11.2% of recent Sloan graduates accepted offers from outside of the United States. In Europe, 3.8% of students received employment, 3.1% in Asia, 1.5% in Mexico, 1% in Latin America & the Caribbean, 0.7% in both the Middle East and Oceania, and 0.4% in Canada.
3. Who were the top employers of MIT Sloan’s most recent MBA class?
The top five employers were The Boston Consulting Group, McKinsey & Company, Amazon, Google, and Bain & Company.
4. What is the average salary of an MIT Sloan graduate?
In the most recent graduating class, the average base salary was $144,140.
5. What are the top industries of MIT Sloan graduates?
According to the most recent employment report, the top industries were consulting, technology, and finance.
6. How many MIT Sloan students receive offers through summer internships?
Through school-facilitated summer internships, 36.9% of students received offers. Through student-facilitated summer internships, 5.5% received offers.
Conclusion
The MIT Sloan Employment Report offers a large amount of important information that you can use to optimize your business school decisions. By first analyzing the school's class profile, you can begin to understand better how you might fit into the program and the kinds of people with whom you could be working. You can also start to gauge your chances of admission. Then, by analyzing the employment report, you can start to picture what your career could look like as a Sloan graduate, and the unique opportunities that the school can offer you. The MIT Sloan Employment Report is a great way to assess how this business school could best serve you and your future.
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