We interviewed Pawan Gupta, MIT Sloan Class of 2015 Student about GMAT Prep strategies and tips, why he chose Sloan MBA program, and the funding options available for International Students.
F1GMAT: When did the idea for MIT Sloan came to your mind? Why an MBA?
Pawan Gupta: I wanted to go to Stanford GSB but when I started applying, I realized MIT is more down to earth, and doing better work in social field through Legatum grants and fellowships. I was really impressed by the initiative and the brand value that MIT has.
Related: MIT vs. Stanford
F1GMAT: Did you spend several months on GMAT Prep?
Pawan Gupta: Yes. I retook the GMAT. When my start-up failed in 2011, I went to Delhi and took coaching from a leading institute. It completely messed up my time as the coaching materials were not at all relevant to what was being asked in GMAT. I...
MIT Sloan School of Management has unveiled the Online Mentoring program. With the platform, students and alumni can interact and build mutually beneficial relationship, and current students get the chance to connect with alumni from different years, programs, and industries.
Mentors have the power to set communication guidelines and pick students who need the support the most. To start the mentoring program, mentors are required to fill in their professional details through LinkedIn data and provide details about their career interest, path until now, and other interests. They can also stay in touch with current students and learn about the innovation that is emerging from the campus. This is another opportunity for mentors to collaborate or invest in some of the emerging technology.
Students get valuable one on one advice about a chosen area of interest, and the program opens up connection to a larger alumni network and executives across industries, location, and job functions.
The process starts when both mentor and student fills out their online profile. Based on profile information, students can see a list of relevant mentors. The mentor-mentee relationship starts when the...
For all the skeptics who are wondering about Financial Industry and the lower demand for Finance Job among MBAs post 2008, the latest employment report released by MIT Sloan School of Management will be an eye opener.
The percentage of the class who has opted for Finance Jobs has increased from 21.5% in 2010 to 24.3% in 2012. During the same time, the net growth in a traditionally preferred job function – Consulting and Strategic Planning, is just 0.9%.
The trend is influenced by the increase in the base salary for Finance Jobs. If you look at the most popular Finance job functions and the median salary, financial analyst leads the market with a median salary of $122,500 while the lowest salary in the group is tied between three functions: Sales & Trading, Wealth Management, and Investment Banking at $100,000.
Investment Banking ...
MIT MBA Essays for 2013-14 has been released. Unlike other schools, MIT Sloan School of Management has made no changes in the number of essays, and the word limit for each one of them. The number of essays is two and the word limit is 500 words or less for each essay. In this MIT Sloan MBA Essay Tip article, we will cover leadership traits that Sloan values and offer specific tips for answering the two essays.
MIT Sloan MBA Admission Essays 2013
Essay 1: The mission of the MIT Sloan School of Management is to develop principled, innovative leaders who improve the world and generate ideas that advance management practice. Discuss how you will contribute toward advancing the mission based on examples of past work and activities. (500 words or fewer, limited to one page)
Essay 2: Describe a time when you pushed yourself beyond your comfort zone. (500 words or fewer, limited to one page)
The Admissions Committee invites you to share anything else you would like us to know about you, in any format.
MIT Sloan MBA Essay Guideline
1) We are...
Deadline Decision Reply By
Round 1 Tue Sep 24, 2013 Fri, Dec 20, 2013 Mon, Mar 03 2014
Round 2 Tue Jan 07, 2014 Tue, Apr 1, 2014 Thu, May 01 2014
All deadlines are by 12 noon Pacific Standard Time (2000 GMT)
1) Re-applicants must submit their application by the Round I deadline.
2) Decisions will be released early for some candidates who will be denied admission...
Although many students might argue that MIT Sloan is at a different level when compared to Tuck, the following comparison will give you a clearer picture on which MBA program is best suited for you. The Comparison is based on Location, Ranking, Curriculum, Exchange Programs, Internships, Post MBA Salary, and Career Service and Alumni Network.
MIT Sloan is located in Cambridge, a city in Massachusetts, located in Greater Boston Area, in the United States. Cambridge is known for Harvard University and Massachusetts Institute of Technology, two of the world’s most renowned institutions. During the 19th and 20th Century, Manufacturing sector was the largest employers in the City but from the inception of MIT and Harvard, the universities became the largest employer with the 2010 census indicating a combined employment of 20,000. It is the sixth largest city in the United States. Tuck School of Business at Dartmouth is located in Hanover, New Hampshire, in the United States. Hanover is a small town with a population of just 11,200, according to 2010 census.
Except Economist, all other major publications that include US News...
If you have missed the first part of the series, read MIT Sloan vs Tuck MBA: Comparison Based on Location, Ranking, Class Profile, Curriculum, Exchange Programs and Internships
7) Post MBA Salary
When it comes to median and mean Base Salary, MIT Sloan MBA Students have reported a higher mean base salary of $118,406 against Tuck’s $115,000. When you look sector wise, MIT Sloan has better compensation across all sectors except VC, Hedge Fund and Private Equity sector. Tuck also has a higher percentage of representation (4%) in PE sector and Consulting (36%). MIT has a larger representation in Manufacturing (18.1%). For details, check out the comparison table below.
Some of the top Hirers for MIT Sloan MBA Class of 2012 are McKinsey & Company , Amazon, Boston Consulting Group , Bain & Company , Citi and Google. Tuck also attracts similar recruiters with companies like Amazon, Apple, McKinsey & Company, Time Inc. and JPMorgan Chase &...
Business Simulations are an extension of the traditional classroom lectures and case-study method of teaching in an MBA Program. The real value of this tool comes from testing what you have learned through these simulations.
How valuable are these simulations?
It gives students the ability to take the type of risks that normally cannot be taken in real life. By observing the consequence of these actions, students can learn about themselves and how various elements in a Business Environment influences each other. Simulations require collaboration with team members and teach students to think for the team and effectively communicate with each other. The learning experiences develop team building, leadership and problem solving skills.
The Simulation Games can be broadly categorized based on the learning function – Communication, Finance, Sustainability, Leadership & Teamwork, Marketing, Strategy, Supply Chain, Change Management, Venture Capital, Entrepreneurship, Economics and Pricing, and Statistics.
Let us look at some of the best simulation games used in top Business Schools.
The Tip of the Iceberg cultural team is a...
Operations Management (OM) is the science of streamlining the design as well as management of processes, products, supply chains and services. It deals with the process of producing goods, and delivering services. OM ensures the efficient utilization of resources, be it within the organization or outside. It also delivers goods and services promptly to fulfill client needs.
What are the applications of Operations Management?
Operations Management can be applied at various levels, based on the location and size of a manufacturing plant to the structure and delivery of a service or a telecom network, and could even include designing technology supply chains. Besides the overall perspective, this management stream also deals with tactical and technical details such as plant layout, project management techniques, technology & equipment selection, and replacement of older methods or machinery. The operations management team also determines production schedules, manage inventories, control quality and manage material flow. A plant's equipment management and maintenance policies are also set by them.
What are the responsibilities of Operations Management...
The MIT 100K Competition is among the world’s oldest competitions for entrepreneurs, and has now completed 22 years. In 1990, the MIT Entrepreneurs Club in collaboration with the Sloan New Ventures Association held the first competition that had 54 participating teams. The winner won $10K, with $3K and $2K for the 2 runners up. In 1996 it became the $50K, and in 2006 the competition evolved into the MIT $100K Entrepreneurship Competition.
Today, it is one of the worlds most anticipated competition. It is aimed at fostering the entrepreneurial spirit among MIT students and researchers, encouraging them to express their ideas, and providing the support required to bring them to fruition. The competition is a yearlong process that ropes in VCs, mentors and media, culminating in a giveaway of $350,000 in cash and prizes. The most prestigious of all is the $100k prize for the launch competition.
The Competition has nurtured the launch of 160+ companies that have registered aggregate exit values of over $2.5 billion captured with a market cap of more than $15 billion. They have generated 4,600+ jobs and gained around $1.3 billion in VC funds. Recent IPOs...
An efficient, agile and quick supply chain is a major prerequisite for any successful company today. As the world globalizes, product components are sourced from far away countries, and markets grow to encompass the world. Apple for instance sources its ARM processors in Texas, screens from Korea and assembles products in Asia, mainly China. Today, a supply chain is a complex system of technologies and processes that calculate real-time demand and responds immediately through a network of suppliers, employees and customers. While supply chains were once driven by products, they are today driven by customer demand. The best supply chains combine operational excellence and innovation.
An MBA in supply chain management uses a cross-disciplinary approach, covering Operations Management, Inventory Management, Quality Management, Supply Chain Technology Management, Logistics, Marketing, Strategy and MIS. People who wish to have a career in this field should be adept at critical thinking, analysis, management and strategy. They must be able to evaluate issues and solve them on a global scale. Strong financial, leadership and team playing skills are also vital.
Tasks involve choosing and...
MIT Sloan School of Management has just launched the business video game simulation - Platform Wars: Simulating the Battle for Video Game Supremacy. In this live, web-based simulation, students get into the shoes of a Senior Manager at a video game company such as Sony. The student must now make a series of decisions to help the company succeed in this dynamic and highly complex market.
The game is centered around an accompanying case study based on the launch of Sony’s PlayStation 3. In the game, success depends on the number of people that own it and the amount of games and applications available for the platform. This and various other features interact dynamically to determine the market share and earnings.
Instructors can use the Game Settings page to alter market dynamics like Sensitivity of Console Buyer to the Availability of Games, Sensitivity of Console Buyer to the Number of other Product Owners, Percent of Migration Costs to Initial Development Costs and even Competitor Pricing Strategies. This can help simulate different market conditions, and various competitor strategies. Students can get the income statements,...
MIT Sloan and Stanford GSB are two of the top B-schools in the world. Both are next door to exceptional undergraduate programs that regularly usher in radical new technologies. Along with other schools on campus, both Sloan and GSB are well known for its world class entrepreneurial environment. Students with a tech background and an entrepreneurial attitude are naturally drawn to the schools, at times facing the dilemma of choosing one over the other. We have picked five factors for your consideration before picking on over the other.
Stanford is in sunny California, while MIT is in the colder city of Boston. Stanford has a large campus, and is located in Palo Alto, a suburban area, with fewer transport options, and almost no other college students around except for those at Stanford. Sloan is in the city, with all major infrastructures close to the campus. The school is also next door to Harvard, and so presents a diverse set of students to interact with. The extra space at Stanford supports better infrastructural facilities as compared to MIT.
The big advantage for Stanford is its vicinity to Silicon Valley. Major companies visit both schools for...
Before writing your essays, understand what MIT stands for. "Mens et Manus" (Mind and Hand) is MIT’s motto. The AdCom values a career path that involves learning, leadership and innovation. MIT is looking for candidates who can inspire and collaborate with others, create innovative solutions, lead teams and contribute in a community. The candidate should also have an innate sense of curiosity and analytical skill.
Essay 1: Please describe a time when you had to convince a person or a group of your idea. (500 words or fewer, limited to one page)
The MIT Sloan AdCom wants to learn how you think and act. A key skill when you work collaboratively in a team is your ability to get the buy-in for your idea. Even if you are leading a team, unless you sell your ideas, the execution will lack conviction, which will affect the quality of the outcome.
The first part of the question asks about a time when you had to convince a person or a group about your idea. The level of persuasion depends on the radical nature of your idea. If it is too radical, your team will be skeptical. If the idea is not creative, then show how you introduced data to convince the team. If the idea is creative with little data to support it, show how you could evoke positive emotion with your arguments and motivated them to work on your idea. Although MIT students are known for their...
MIT Sloan MBA Admission Interviews are different. Instead of the standard Why MBA and Why MIT Sloan MBA questions, the Adcom conducts Behavioral Event-Based Interviews (BEI). The idea behind BEI is to evaluate how you responded to challenging situations. Your response to past events is an indicator of your future behavior.
Interview Conducted by: AdCom or Alumni
Duration: 45 minutes to 1 Hour
Style of Interview: Formal
Tip 1: Read your Essays and Resume
MIT Sloan is different. The Interviewers are well prepared and will read your essays and resume, several times. They will find out the gap in your essays and would ask probing questions.
Tip 2: Be prepared for Follow-up Questions
Remember, MIT Sloan MBA AdCom wants to understand how you behaved in the past. To find out more, the team will ask lot of follow-up questions. Each candidate has a different story and the questions will be accordingly. After you have prepared the preliminary list of follow-up questions, ask your friends, family members or expert consultants to read your essays and list the follow...