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MIT Sloan School of Management


Q) I have 5 years of experience in Technology as a Software Engineers. For the past couple of years, I was part of a healthcare project. My role switched from Technology to a Techno-functional role to now more as a subject matter expert. Initially, it was a challenge to get used to the new lexicon, but I am enjoying my new role and feel an MBA will help me make a complete transition in the industry as a Consultant. After initial research, I shortlisted MIT Sloan for the brand and the numerous hands-on experience offered in the Healthcare industry. Is an MBA from MIT Sloan a good idea for my post-MBA goal?

It is refreshing to see applicants researching based on their passion and not just post-MBA salary. I would recommend everyone to study up on their post-MBA industry, before even shortlisting their top 5 MBA programs.

60% of the questions that we get in our free MBA Admissions consulting session, start with, “my GMAT is x my GPA is y, what are my chances for z MBA program’. So thank you for the thoughtful question.

As a subject matter...


Q1) Taking the above into consideration, please submit a cover letter seeking a place in the MIT Sloan MBA Program. Your letter should conform to a standard business correspondence, include one or more examples that illustrate why you meet the desired criteria above, and be addressed to Mr. Rod Garcia, Senior Director of Admissions (300 words or fewer, excluding address and salutation).

VIDEO STATEMENT

Q2) Please introduce yourself to your future classmates via a brief video statement.

MIT Sloan has added a Video question and kept the cover letter format. This time, the admission team has provided a 100-word prompt to offer context to the cover letter question.

2017-18 application has added 50 extra words to the cover letter, taking the total word count to 300 words instead of 250.

The challenge with cover letter is that you have no chance to offer any context on your major achievements, your values, and why an MIT Sloan MBA is the next logical step.

You get a 1-page or 300-word space to write a cover letter. Many job applicants don’t fully use them because the goal is to customize your experience to one specific job function, but in MBA Admissions you are selling the idea that you are that all-rounder that would brighten the MIT Sloan brand.

Resume to the Rescue...


Now that you have an overview of the kind of candidates who are accepted at MIT Sloan (read our Essay Guide), it is time to do a life audit. We recommend this to all our clients. If you skip this exercise, the chances are that you will cite a ‘not so great’ event that will miss the mark due to perceived non-competitiveness of your role or lack of context, or both. Especially with 300-words and a professionally communicative device like the cover letter, you can’t cite multiple examples from your professional life.
 
When you are shortlisting the most impactful events for MIT Sloan, follow the three-structure format

Achievement Overview-> Achievement Specifics -> Impact of your team’s success


Our team earned the honor of the fastest growing department in China Telecom contributing a yearly revenue of $500 million, allowing the company to invest the surplus cash in 5G technology.

<Achievement Overview>
  Our team earned the honor of the fastest growing department in China Telecom

<Achievement Specifics> contributing a yearly revenue of over $500 million
...


Applicants interested in pursuing a career in the Consulting industry will find Sloan a favorite with 30.5% of the latest class choosing the industry, while technology came second at 23.9%. The median base salary was at $125,000 with the range starting from $40,000 to $200,000. Since the split up on Bonus was not available by industry, the consulting industry leads when it comes to median and total salary.

MIT Sloan MBA Salary by Industry
 
The MIT Sloan team has shared the bonus for popular post-MBA job functions. Investment Banking has a standard base salary of $125,000 but the signing bonus was $49,000 for the latest class, taking the total salary to $174,000.

MIT Sloan MBA Salary by Function

Consulting and Strategic Planning – the most popular post-MBA job function, attracted offers with a total median salary of $166,000. The three other popular functions for MIT Sloan MBA graduates were in Operations/Project Management, Marketing/Sales and Product Management/Development, earning MBA candidates total median salaries in the range of $136,000 to $154,000.

...


MIT vs Stanford MBAMIT Sloan and Stanford GSB are two of the top Business 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 one over the other.

1) Location

Stanford is in sunny California, while MIT is in the colder city of Boston. For many this might not be a deal breaker, but knowing that Bostonians have to weather, an 8-month of depressively low temperature while Californians can find warm weather in all four directions is a deal breaker for MBA applicants who want to experience the city while sharpening their negotiation and leadership skills in the class.

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...


We interviewed Pawan Gupta, MIT Sloan Class of 2015 Student and asked him 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: Which top schools did you target?

Pawan Gupta: I mainly targeted Stanford, and then later MIT Sloan. However, I applied to Wharton, Columbia, MIT Sloan, NYU Stern, Kellogg, Duke, UCLA and CMU Tepper.

F1GMAT: How did you find funding for MIT Sloan?

Pawan Gupta: MIT MBA International students are eligible to get loans (without collateral) of up to $170,000 from MIT Federal Credit Union. This includes expenses related...


                      Deadlines                      Decision                

Round 1         Sep 15, 2016                 Dec 19, 2016          
Round 2         Jan 17, 2017                 Apr 3, 2017            
Round 3         Apr 10, 2017                  May 17, 2017

Note:
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 without an...

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