MIT MBA Employment Report (2023-2024) - Analysis

The MIT MBA Employment Report for 2023-24 indicates a positive trajectory in salary trends, with the average base salary experiencing a 5.5% increase to $168,095 and the median base salary rising by 3% to $170,000. Beyond base salaries, the significance of signing bonuses in shaping total employment packages is evident, with a median of $30,000 and an average slightly higher at $38,989. Moreover, 65.3% of graduates reported additional compensation beyond signing bonuses, emphasizing the holistic approach to remuneration. The report highlights the dominant sectors in post-MBA placements, with Consulting leading at 33.7%, followed by Technology (24.1%), Finance (19.9%), and Healthcare/Pharma/Biotech (5.8%).

MIT Sloan MBA Employment Trends: By Industry (2023-24)

Consulting stands out as the primary sector, capturing 33.70% of placements. Graduates in this industry command a median base salary of $190,000. Following closely is the Technology sector, constituting 24.10% of hires with a median base salary of $157,100. The Finance sector, with a hiring rate of 19.90% and a median base salary of $175,000, serves as another prominent choice. Notably, Consulting not only boasts the highest hiring rate but also offers the highest median base salary among all industries.

The Pharmaceutical/Healthcare/Biotechnology sector, with a lower hiring rate of 5.80%, remains below the $150,0000 standard for M7 schools at a median base salary of $147,500. Other prominent industries for the MIT Sloan MBA are energy, with a 2% hiring rate, and manufacturing, with a 4.5% hiring rate.

MIT Sloan MBA Salary by Industry	Percent Hired (2023-24)	Median Base Salary (2023-24)
Consulting	33.7%	$190,000
Technology	24.1%	$157,100
Pharmaceutical/Healthcare/Biotechnology	5.8%	$147,500
Investment Banking/Brokerage	6.2%	$175,000
Investment Management	3.8%	$165,000
Consumer Product	2.7%	$146,250
Finance	19.9%	$175,000
Energy	2.7%	$160,000
Manufacturing	4.5%	$157,500

MIT Sloan MBA Employment Trends: By Function (2023-24)

The consulting/Strategic Planning function claims the highest hiring rate at 37.30%, accompanied by a median base salary of $190,000 and a $30,000 median signing bonus, resulting in a total salary of $220,000.

Finance, with a 19.90% hiring rate, offers a notable median base salary of $170,000, along with a $50,000 signing bonus, totaling $220,000.

Investment Banking, at a 5.50% hiring rate, stands out with a $175,000 median base salary and the highest median signing bonus of $57,250, leading to the highest total salary of $222,250.

Product Management/Development (16.40%), Operations/Project Management (8.90%), and Leadership Development Program/General Management (6.50%) represent other functions pursued by graduates, contributing to the program's diverse professional outcomes. Like in other M7 schools, Generalist roles outside consulting now have the lowest remuneration. For MIT, the median base salary is in the $145,000 to $155,000 range. However, Technology talent – a strength of MIT Sloan was compensated proportionally with a median base salary in Product Management/Development at $169,000 – closer to the pay range of Investment Banking and $20,000 above the range for other M7 schools.

Private Equity and Venture Capital exhibit lower hiring rates at 2.40% and 4.50%, respectively, with specific compensation details not available.

MIT Sloan MBA Salary by Function	Percent Hired (2023-24)	Median Base Salary (2023-24)	Median signing Bonus	Total Salary (2023-2024)
Investment Banking	5.5%	$175,000	$57,250	$222,250
Consulting/Strategic Planning	37.3%	$190,000	$30,000	$220,000
Business Development	7.2%	$150,000	$30,000	$180,000
Product Management/Development	16.4%	$169,000	$30,000	$199,000
Operations/Project Management	8.9%	$145,000	$35,000	$180,000
Leadership Development Program/General Management	6.5%	$152,500	$25,000	$177,500
Finance	19.9%	$170,000	$50,000	$220,000
Private Equity	2.4%	$155,000	NA	NA
Venture Capital	4.5%	$160,000	NA	NA

MIT Sloan MBA Employment Statistics: By Region (2023-24)

The MIT Sloan MBA Employment Statistics by Region for the 2023-24 academic year reveals diverse geographical preferences among graduates.
North America dominates, accounting for 92.80% of placements, with a median base salary of $173,500.

The Northeast emerges as a key hub, boasting a 44.70% hiring rate and a median base salary of $175,000, with Boston Metro and NYC Metro leading at 21.36% each.

The West follows closely, with a 23.70% hiring rate and a median base salary of $170,000.

Notably, the SF Bay Area within the West region claims the highest median base salary at $180,000, reflecting a 12.4% hiring rate.

Other regions, including the Mid-Atlantic, Midwest, South, and Southwest, contribute to the national geographical distribution of MIT MBA graduates.
Asia, Europe, Mexico, and Latin America are among the prominent international regions with Asia (2.7%) and Europe (2.1%) leading in hiring.

MIT Sloan MBA Salary by Region	Percent Hired (2023-24)	Median Base Salary (2023-24)
North America	92.8%	$173,500
Midatlantic	6.9%	$175,000
Midwest	4.1%	$165,500
Northeast	44.7%	$175,000
South	5.5%	$160,000
Southwest	7.2%	$165,000
West	23.7%	$170,000
Mexico	.7%	NA
Asia	2.7%	$141,000
Europe	2.1%	$122,500
Latin America	1.4%	$127,500

MIT MBA Employment Statistics: Top Employers (2023-24)

McKinsey & Company leads the top employer list with 26 hires, followed closely by Bain & Company with 25 and The Boston Consulting Group with 23.
Amazon represents the technology sector with 20 hires, while financial giant Goldman Sachs secured just 6 hires.

NextEra Energy and Re:Build Manufacturing, both in energy and manufacturing, have 6 hires each.

Notably, Apple and Analysis Group also make the list, contributing to the diversity of companies represented among the top employers.

Top Employers	No. of Hires
McKinsey & Company	26
Bain & Company	25
The Boston Consulting Group	23
Amazon	20
Verizon	9
Deloitte Consulting	6
Goldman Sachs	6
NextEra Energy	6
Re:Build Manufacturing	6
Apple	4
Analysis Group	3

MIT Sloan MBA: Career Service Team's Effectiveness (2023-24)

In the MIT MBA Career Services for the 2023-24 academic year, 73.2% of accepted offers were facilitated by the school, showcasing the effectiveness of institutional support.

Nearly half of the accepted offers (47.1%) were secured through return offers from summer internships, underscoring the value of networking and school-facilitated relationships in the program.

The Leaders for Global Operations (LGO) initiative contributed significantly, representing 12.7% of accepted offers.

Job Postings, both from MIT or Sloan and Interviews Scheduled through MIT Sloan, accounted for 6.0% and 3.9%, respectively.

Student-facilitated efforts played a pivotal role, representing 26.8% of accepted offers.

Additionally, 8.3% of graduates started ventures, reflecting the program's support for entrepreneurial career paths.

Related Download

MIT Sloan MBA Cover Letter and Essay Guide

Reference

MIT Sloan MBA Employment Report

Winning MBA Essay Guide - A Complete Guide for M7 and Top 15 MBA Application Essays

F1GMAT's Winning MBA Essay guide will teach you how to transform your essay into a life journey with trials and tribulations that will move the admission team.

+ Over 245 Sample Essays (Read Previews of F1GMAT's Winning MBA Essay Guide Sample Essays here)

+ Top 15 MBA Programs (Harvard, Stanford, Wharton, Columbia, Booth, MIT, Kellogg, Yale, Haas, Darden, INSEAD, LBS, NYU Stern, Tuck, Duke Fuqua, Ross)

+ The Art of Storytelling
+ Leadership Narratives
+ Review Tips
+ Persuasion Strategies
+ The Secret to "unleashing" your unique voice
+ How to prepare and present for the Video Essay
+ How to write about your Strengths
+ How to write about your Weaknesses

Download Winning MBA Essay Guide (245+ Sample Essays) (M7 and T16 MBA)

Want to try the individual school Essay Guides before upgrading to the Winning MBA Essay Guide? Try below.

F1GMAT's Essay Guides

Harvard MBA Essay Guide (20 Sample Essays)
Growth-Oriented Essay: Curiosity can be seen in many ways. Please share an example of how you have demonstrated curiosity and how that has influenced your growth. (up to 250 words)
Example #1: Persistence Narrative
Background Information: The applicant – a design and music talent, shares her journey through several setbacks. She attributes curiosity to her growth.
Curiosity: Philosophy
Curiosity (Explained): Curiosity as a philosophy is tough to translate into a narrative unless you are from the creative industry or your contributions had an influence on a solution or an initiative.
MBA Essay Strategy: I wanted to capture the humanity of the applicant and her influence in music instead of just highlighting how she overcame multiple roadblocks to gain attention as a designer.
Theme: Persistence
Read: Harvard MBA Curiosity Essay – Life Starts at NO (Growth-Oriented HBS MBA Essay Example)
Example #2: International Community Building
Background Information: The applicant, a Machine Learning (ML) entrepreneur specializing in healthcare diagnostics, shares how his curiosity to learn other ML algorithms’ evolution in diagnosing Alzheimer’s, cancer, and heart disease transformed his platform into a global community.
MBA Essay Strategy: I wanted to show the applicant’s contributions in diagnostic from 2020 to 2024 by citing two events. Such examples build credibility instead of engagements that were recent. The evolution of the platform from an AI development community to a community for discussing the application of AI in diagnostics is captured through a ‘curiosity’ angle.
Read: Harvard MBA Curiosity Essay – Growth through Collaboration (AI in Healthcare) (Growth-Oriented HBS MBA Essay Example)
Example #3: Culture
Background Information: The applicant, an Entrepreneur from India narrates his first entrepreneurial experience – facilitating exchange of stamps in the late 1990s.
Theme: Culture
MBA Essay Strategy: Instead of addressing the biases in the investor community that could turn preachy, I wanted to focus on the applicant and his entrepreneurial journey by citing two entrepreneurial experiences – a platform(club) for stamp collection and his Grocery delivery App.
Read: Harvard MBA Curiosity Essay – The American Dream (Growth-Oriented HBS MBA Essay Example)
Example #4: Addiction
Background Information: The applicant – a beneficiary of the foster home system, captures the sacrifice his adopted grandparents made to save him from a path of addiction. Paying it back through early intervention among teenagers and community engagement is the curiosity narrative.
Theme: Addiction
MBA Essay Strategy: My strategy is to capture a gratitude narrative in the first one-third of the essay to demonstrate motivation for starting the venture and dedicate the latter part of the essay to the unique solution
Read: Harvard MBA Curiosity Essay – Drug Addiction and Gaming (Growth-Oriented HBS MBA Essay Example)
Example #5: Scarcity
Background Information: The applicant, an education major, recognizes that 70% of all students in Kenya don’t have a computer. The curiosity that drives him to pivot from one solution to another is the growth narrative.
Theme: Innovation
MBA Essay Strategy: Often, innovation is captured with a ‘hero’ narrative where the applicant is the sole originator of an idea. I wanted to break that cliché and include a person from whom the applicant learned to use a concept called ‘scaffolding.’
Read: Harvard MBA Curiosity Essay – Scarcity (Growth-Oriented HBS Essay Example)
Example #6: FinTech
Background Information: The applicant captures a vulnerable moment of a beneficiary to compare his journey of side hustle before a technology giant noticed his talent. Although cryptocurrency is not a flavor for the year, capture niches where innovation is still happening.
Theme: Education, Child Welfare
MBA Essay Strategy: Empathizing with a techno solution is tough without a strong backstory around the beneficiary. For the essay, I wanted to clearly establish the beneficiary – Rami, before the applicant narrates the similarities to his journey and finally shares the solution that emerged from his curiosity.
Read: Harvard MBA Curiosity Essay – FinTech as a Tool for Good (Growth-Oriented HBS MBA Essay Example)
Example #7: Learning from the best
Background Information: The applicant – a Remote Engineer in the Oil and Gas industry, reflects on a value that has helped her learn from the best regardless of her geographical limitations.
Theme: Learning
MBA Essay Strategy: The effectiveness of the case-study method depends on the assumption that peers in a Harvard MBA class will help elevate your learning experience. For the essay, I have highlighted the applicant’s recognition of this value proposition with three examples.
Read: Harvard MBA Curiosity Essay – Learning from the Best (Growth-Oriented HBS MBA Essay Example)
Example #8: Military & Search for IMPACT
Background Information: The most common narrative for US military applicants is to quote 9/11 and the reaction your immediate family had while watching the events unfold. The horrifying moment is captured as a motivation to join the Military. On digging deeper, most applicants would share that their motivations were diverse.
Theme: Career Choice
MBA Essay Strategy: I wanted to quickly highlight that the applicant had the choice of entering any industry. One achievement to demonstrate his curiosity that I shared in the first half is the invention of a game. Since the game is mentioned in the resume and verifiable through search, I didn’t quote the name. By clearly highlighting the person’s curiosity and career options, the family legacy is used as a factor in joining the military.
Read: Harvard MBA Curiosity Essay – Career Choice after a Military Career (Growth-Oriented HBS MBA Essay Example)

Leadership-Focused Essay: What experiences have shaped who you are, how you invest in others, and what kind of leader you want to become? (up to 250 words)
Example #9: Small Business Values
Background Information: The applicant - a second-generation Asian American, is familiar with the values of fiscal conservatism, building relationships, and understanding the daily struggles of the community through his family’s department store.
Theme: Customer-Centric
MBA Essay Strategy: The applicant’s role in developing an App for the store is highlighted in the essay at a crucial part of the narrative so that the essay is not all about his father. I have also humanized the journey – by sharing how upset the father was when the revenues fell by 40%. The essay is about the transformation in the applicant’s value from a person chasing productivity and optimization technique to someone who is truly thinking about the customers.
Read: Harvard MBA Leadership Essay – Small Business Values (Leadership-Focused HBS MBA Essay Example)
Example #10: Breaking Away from Family Business
Background Information: A unique challenge that applicants whose parents are public figures or CXOs of businesses or entrepreneurs are the pressure to live up to the parent’s standards or milestones. For the leadership narrative, the burden of legacy is established before the narrative addresses his leadership principles.
Theme: Authenticity
MBA Essay Strategy: For the essay, I want to capture an entrepreneur’s journey to rise above his entrepreneur father’s image. But I didn’t want to make the entire essay about this complex dynamics. The narrative is around the applicant’s focus on customers and surrounding with teams who keeps him grounded.
Read: Harvard MBA Leadership Essay – Breaking Away from Family Business(Leadership-Focused HBS MBA Essay Example)
Example #11: Creativity and Communication
Background Information: When the overall percentage of users with internet access is 62% in South Africa and the inequality accentuated by the rural and urban divide, the applicant endured the lack of digital infrastructure, and spending close to 22% of the family income on gaining relevant information on schools, global exams, and financial assistance.
Theme: Creativity, Communication
MBA Essay Strategy: The strategy is to share why the applicant values no distraction in a child’s home for optimum education experience. Then I highlight the many roadblocks the applicant’s non-profit faced in receiving fee waiver for their cooperative run ISP.
Read: Harvard MBA Leadership Essay – Non-Profit (Telecom) (Leadership-Focused HBS MBA Essay Example)
Example #12: Mental Health
Background Information: The applicant like most didn’t pay much attention to the mental health epidemic until tragedy hit home.
Theme: Communication, Innovation
MBA Essay Strategy: A question we frequently get from applicants is whether they should cite tragedy in the family as a motivation for a venture or a non-profit initiative. As long as you don’t linger too much on the tragedy and offer a balanced narrative, there are no restrictions on leveraging unique stories from your life.
Read: Harvard MBA Leadership Essay – Mental Health (Leadership-Focused HBS MBA Essay Example)
Example #13: Trauma, Healing & Finding Authentic Self
Background Information: The applicant narrates the absurdity of war in the narrative about the duties in Kabul, and the trauma. Instead of wallowing in on the horror, the applicant takes what makes military applicants strong and guides unprivileged children build life and leadership skills.
Theme: Resilience
MBA Essay Strategy: Capturing PTSD in an essay, the healing process, and the cues that helped the applicant are too sacred to be shared in a Harvard MBA application essay. However, with the right motivation and narrative arcs, you can capture the essence of your journey without sharing the darkest secrets. That is what I did by merging two stories – the horrors of the war with a non-profit engagement.
Read: Harvard MBA Leadership Essay – Military & PTSD (Leadership-Focused HBS MBA Essay Example)
Example #14: Addiction, Setback and Leadership Mantra
Background Information: In this narrative, the applicant captures Peru’s Silver mining boom of 2006. The growth experienced in her father’s business shifted the family’s economic status to a new stratosphere. Through the changing economic and family dynamics, the applicant finds her voice in a unique way, initially to record her unheard voice but later as one of the youngest subject matter experts in mining and commodities.
Theme: Failure
MBA Essay Strategy: For the essay, the strategy is to show how life’s unpredictability is a blessing. By narrating two setback events, the essay demonstrates the applicant’s resilience and her acknowledgment of people who made a comeback possible.
Read: Harvard MBA Leadership Essay – Addiction, Setback and Leadership Mantra (Leadership-Focused HBS MBA Essay Example)
Example #15: War, Immigration and Starting Over Again
Background Information: Despite a raging war in Syria, the family of the applicant was unblemished by the chaos. The strategic government assets near the applicant’s house would have made the region an easy target, but it was not. The calmness of her journey is shattered in one event. From the privileges of a cocooned life, the applicant is forced to think about survival, her sister’s future, and her future in the US. The second half of the narrative captures the change that was forced on her.
Theme: Gratitude, Resilience
MBA Essay Strategy: I consciously chose not to start the essay with a dialogue or trauma. Two lines are allocated to set up the narrative before the trauma event.
Read: Harvard MBA Leadership Essay – War, Immigration and Starting Over Again (Leadership-Focused HBS MBA Essay Example)
Harvard MBA Business-Minded Essay: Please reflect on how your experiences have influenced your career choices and aspirations and the impact you will have on the businesses, organizations, and communities you plan to serve. (up to 300 words)
Example #16: Creative or Finance
Background Information: The applicant starts the narrative with the origin of her talents. The unbridled enthusiasm receives a reality check when in high school, the applicant’s father has a conversation with her about academics. While the applicant picked up her quant skills, she was reaching over 50,000 loyal fans, and her videos captured 1 million views.
Theme: Passion, Talent
MBA Essay Strategy: Capturing vulnerability is the toughest part for Harvard MBA applicants. For this essay example, I have captured the applicant’s uncertainty about career choice throughout the essay. Here the goal is to show vulnerability in the career choice essay while for leadership and growth essay, I could capture one example each from creative and PE industry respectively to balance the narrative. So don’t follow this example without a strategy.
Read: Harvard MBA Business-Minded Essay – Creative or Finance (Business-Minded HBS MBA Essay Example)
Stanford MBA Essay Guide (24 Sample Essays)
Columbia MBA Essay Guide (21 Sample Essays)
Wharton MBA Essay Guide (15 Sample Essays)
INSEAD MBA Essay Guide (19 Sample Essays)
Darden MBA Essay Guide (21 Sample Essays)
Yale SOM MBA Essay Guide (15 Sample Essays)
Tuck MBA Essay Guide (15 Sample Essays)
Haas MBA Essay Guide (18 Sample Essays)
NYU Stern MBA Essay Guide (15 Sample Essays + 6 Examples - Visual Essay)
LBS MBA Essay Guide (6 Sample Essays)
MIT Sloan MBA Essay Guide (6 Sample Cover Letters + 3 Sample Video Statement Scripts + 3 Sample Optional Essays)
Kellogg MBA Essay Guide (11 Sample Essays)
Chicago Booth MBA Essay Guide (12 Sample Essays)
Ross MBA Essay Guide (31 Sample Essays)
Duke Fuqua MBA Essay Guide (10 Sample Essays + Two 25 Random Things Samples)
Cambridge MBA Essay Guide (12 Sample Essays)