In 2022, salaries continued to rise at MIT Sloan, with the median base income rising to $165,000 and the average base salary rising 7.6% to $159,391. A significant portion of the overall employment packages was contributed by signing bonuses and other forms of projected pay. $30k was the average signing bonus for a top US MBA program.
62% of the class of 2022 also received compensation and signing bonuses. As a part of the other compensation, just over 25% of graduates reported stock and equity compensation, with an average value of $121,527.
MIT Sloan MBA Salary by Industry (2022)
Consulting (31.2%), Technology (22.6%), Finance (22.6%), and Healthcare/Pharma/Biotech (6.8%) were the top four industries for the Class of 2022. The primary justification for job acceptance in these industries among graduates (42.3%) was the opportunity for growth.
Consulting continues to be the top industry for Sloanies, with a 31.2% hiring percentage (a 3% increase) and the highest median base salary of $175,000. The Technology industry, which was previously ahead of the Finance industry by 4%, is now equal, with both industries having a 22.6% hiring rate.
Along with Consulting($175,000), Investment Banking ($175,000) and Investment Management ($170,000) saw their median base salary increase between $20,000 to $25,000.
| MIT Sloan MBA Salary by Industry | Percent Hired (2021-22) | Percent Hired (2022-23) | Median Base Salary (2021-22) | Median Base Salary (2022-23) |
|---|---|---|---|---|
| Consulting | 28% | 31.2% | $150,000 | $175,000 |
| Software/Internet | 21% | 22.6% | $140,000 | $150,000 |
| Pharmaceutical/Healthcare/Biotechnology | 10% | 6.8% | $140,000 | $145,000 |
| Investment Banking/Brokerage | 7% | 6.5% | $150,000 | $175,000 |
| Investment Management | 4% | 3.6% | $150,000 | $170,000 |
| Consumer Product | 4% | 3.6% | $140,000 | $141,000 |
| Finance | 22% | $170,000 |
MIT Sloan MBA Salary by Function (2022)
In 2022, Consulting/Strategic Planning (38.3%), Finance (18.1%), Product Management/Development (17.8%), and Operation/Project Management (9.8%) were the top 4 functions at MIT Sloan. These four functions remained in the top four, with Consulting and Product Management observing the rise in placement. In contrast, Operation/Project Management and Finance observed a drop of 3% in hiring rates.
Although Consulting had the highest placement rates, Investment Banking had the highest total annual salary - $233,500, followed by Consulting with $205,000.
| MIT Sloan MBA Salary by Function | Percent Hired (2021-22) | Percent Hired (2022-23) | Median Base Salary (2021-22) | Median Base Salary (2022-23) | Median Sign-On Bonus (2022-23) | Total Salary (2022-23) |
|---|---|---|---|---|---|---|
| Investment Banking | 7% | 5.3% | $150,000 | $175,000 | $58,500 | $233,500 |
| Consulting/Strategic Planning | 35% | 38.3% | $165,000 | $175,000 | $30,000 | $205,000 |
| Business Development | 5% | 5% | $150,000 | $145,000 | $15,000 | $160,000 |
| Product Management/Development | 13% | 17.8% | $144,000 | $155,000 | $32,500 | $182,500 |
| Operations/Project Management | 13% | 9.8% | $135,000 | $145,000 | $35,000 | $180,000 |
| Leadership Development Program/General Management | 9% | 5.3% | $130,000 | $140,000 | $32,500 | $172,500 |
| Finance | 22.3% | 18.1% | $172,000 | $50,000 | $222,000 |
Related: F1GMAT's MIT Sloan MBA Essay Guide (Cover Letter Samples and Video Script Included)
MIT Sloan MBA Salary by Locations (2022)
94% of all employment offered at MIT Sloan in 2022 was secured within the US, whereas 6% was collectively in Canada, Mexico, Asia, Africa, Latin America, Europe, Oceania, and the Middle East. The number of local hires has risen compared to last year's, where only 91% of all employment offers were secured within the US by Sloanies, hinting at the normalization of the job market post-pandemic.
The total annual salary offered to MBA grads in 2022 in the US was $165,000. North America offered $165,000, which is $15,000 more than the last year, whereas the Salary offered in Europe was $135,000, which was $15,000 less than what was provided in the previous year's placements.
The number of Sloanies who secured jobs in Northeastern regions also increased from 40% to 53.7%, which is further evenly split between Boston and New York. Unlike the Northeastern region, graduates placed in Westcoast decreased from 30% to 19%.
MIT Sloan MBA - Top Employers
McKinsey & Company was the top employer for MIT Sloan till last year has hired only half of the students employed by The Boston Consulting Group. In the year 2022, the top employers of MIT Sloan were The Boston Consulting Group, McKinsey & Company, Amazon, Bain & Company, Google, Amgen, Goldman Sachs, Capital One, and Deloitte Consulting.
| MIT Sloan MBA Top Employers | No. of Hires (2021-22) | No. of Hires (2022-23) |
|---|---|---|
| McKinsey & Company | 30 | 21 |
| The Boston Consulting Group | 29 | 47 |
| Amazon | 12 | 18 |
| Bain & Company | 11 | 11 |
| 9 | 12 | |
| Amgen | 3 | 4 |
| Goldman Sachs | 8 | |
| Capital One | 5 | |
| Deloitte Consulting | 5 |
MIT Sloan MBA Career Service Team - Effectiveness (2022)
MIT Sloan's career service team plays a significant role, with 69.1% of all offers mediated by the school, up from 63.5% the previous year. Almost 35.3% of all students participate in internships organized by their schools, many of which led to full-time employment opportunities. This number also increased this year by 5%.
Nearly 13% of all job offers come through internal job advertising at the school, making them the second most prevalent source of employment.
Nearly 6.5% of all offers came from the yearly Leaders for Global Operations program, which enrolls 50 candidates, most of whom are enrolled in the MBA and Master of Science Engineering dual degree programs. This year, fewer students received employment offers from LGO.
Only 3.7% of all offers were influenced by on-campus recruiting, 1.3% less than in 2021.
Following a student-facilitated summer internship that resulted in a full-time offer, nearly 5.9% of all student-facilitated offers came from the student's network.
Related Download
F1GMAT's MIT Sloan MBA Essay Guide
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