MIT Sloan continues to place top talents in the Software/Internet industry, with the 2021 placement trends showing 21% of offers in the industry, behind Consulting (28%). On the job function side, Consulting/Strategic Planning was the preferred function (35%), while the second most popular function was a tie between Product Management and Operations (13%).
In this in-depth analysis of the MIT Sloan MBA Employment trends and Salary for the 2021 Graduating Class, we cover:
- MIT Sloan MBA Salary by Industry (2021)
- MIT Sloan MBA Salary by Function (2021)
- MIT Sloan MBA Salary by Location (2021)
- MIT Sloan MBA Top 7 Employers (2021)
- MIT Sloan MBA Career Service Team - Effectiveness (2021)
MIT Sloan MBA Salary by Industry (2021)
The median base salary of the top 5 industries at MIT Sloan is $145,000 compared with the overall median base salary of $148,075, primarily contributed by the high post-MBA salary of law candidates. MIT Sloan did not provide data on industry-level bonuses, which is an important detail considering more than half the class, 70.5%, was rewarded by other compensation (median of $65,000) beyond a signing bonus (median of $30,000). We have added the median sign-on bonus for each industry to turn the total salary comparable with other top schools.
Consulting and finance sectors offered more competitive salaries at $150,000 than Healthcare/Biotech/Pharma with the latter making an entry at third place, after Consulting (first place) and Technology (second place), disrupting the usual trio of Consulting, Finance, and Technology.
| MIT Sloan MBA Salary by Industry | Percent Hired | Median Base Salary | Median Sign-On Bonus | Total Salary |
|---|---|---|---|---|
| Consulting | 28% | $150,000 | $30,000* | $180,000 |
| Software/Internet | 21% | $140,000 | $30,000* | $170,000 |
| Pharmaceutical/Healthcare/Biotechnology | 10% | $140,000 | $30,000* | $170,000 |
| Investment Banking/Brokerage | 7% | $150,000 | $30,000* | $180,000 |
| Investment Management | 4% | $150,000 | $30,000* | $180,000 |
| Consumer Product | 4% | $140,000 | $30,000* | $170,000 |
MIT Sloan MBA Salary by Function (2021)
Investment bankers bagged $202,000 offers - highest at MIT Sloan, followed by consultants at $195,000. However, consultants secured the highest median base salary of $165,000, followed by a tie between investment bankers and business development professionals at $150,000. Investment banking roles offered the highest median sign-on bonuses of $52,000, followed by consulting at $30,000.
Consulting was also the most preferred job function for Sloanies, followed by a tie between operations and product management. Leadership Development was in third place, followed by Investment Banking and Business Development.
| MIT Sloan MBA Salary by Function | Percent Hired | Median Base Salary | Median Sign-on Bonus | Total Salary |
|---|---|---|---|---|
| Investment Banking | 7% | $150,000 | $52,000 | $202,000 |
| Consulting/Strategic Planning | 35% | $165,000 | $30,000 | $195,000 |
| Business Development | 5% | $150,000 | $22,500 | $172,500 |
| Product Management/Development | 13% | $144,000 | $25,000 | $169,000 |
| Operations/Project Management | 13% | $135,000 | $25,000 | $160,000 |
| Leadership Development Program/General Management | 9% | $130,000 | $22,500 | $152,500 |
MIT Sloan MBA Salary by Location (2021)
91% of all employment offers were secured within the US by Sloanies, and the balance of 9% spread equally between Asia, Europe, and Latin America.
Europe and North America offered the same median base salary of $150,000, followed by Asia at $130,000 and Latin America at $100,000.
Within the US, 40% of Sloanies settled in the northeast, evenly split between New York and Boston as compared to the West coast, which attracted 30% of Sloanies.
MIT Sloan MBA Top 7 Employers (2021)
Consulting firms – McKinsey, BCG, and Bain (MBB) are the top hiring firms at MIT Sloan by volume. Technology firms – Amazon, Google, Rivian, Amgen, and IBM, are in second place. Finance firms – JP Morgan Chase and Morgan Stanley made single-digit hires, placing them in the middle.
| Rank | MIT Sloan MBA Top 7 Employers | No. of Hires |
|---|---|---|
| 1 | McKinsey & Company | 30 |
| 2 | The Boston Consulting Group | 29 |
| 3 | Amazon | 12 |
| 4 | Bain & Company | 11 |
| 5 | 9 | |
| 6 | JP Morgan Chase & Co. | 4 |
| 6 | Morgan Stanley | 4 |
| 6 | Rivian | 4 |
| 7 | Amgen | 3 |
| 7 | HelloFresh | 3 |
| 7 | IBM | 3 |
| 7 | Nike | 3 |
MIT Sloan MBA Career Service Team - Effectiveness (2021)
MIT Sloan’s career service plays a prominent role, with 63.5% of all offers being school facilitated. Nearly 30% of all students sign up for school-facilitated internships that then materialize into full-time offers.
Job postings within the school are the second most common source of employment of nearly 13% of all offers.
Leaders for Global Operations - an annual program of 50 students predominantly from the Master of Science Engineering and MBA dual degree program, contributed to nearly 7% of all offers.
On-campus recruiting contributed to only 5% of all offers. Of the student-facilitated offers, nearly 8% of all offers came from the student’s personal network, followed by a student-facilitated summer internship that materialized into a full-time offer.
Related Services
• F1GMAT’s Career Planning Service
• F1GMAT’s Essay Review Service
Related Books
• F1GMAT’s MIT Sloan MBA Essay Guide
• F1GMAT’s Winning MBA Essay Guide (Includes MIT Sloan MBA Essay Tips and Samples)
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