The most recent MIT Sloan Employment Report reveals the average salary MIT Sloan MBA grads can expect to receive. For more information and an overview, see our in-depth profile on the school. In this article, we’ll be covering MIT Sloan MBA salary and employment data.
The MIT Sloan School of Management is the business school for the distinguished Massachusetts Institute of Technology in Cambridge, Massachusetts. The program places a high value on collaboration and experiential learning and provides multiple ways for students to learn, not only from MIT faculty and students, but also from Harvard. MIT Sloan and Harvard Business School share a unique partnership where students are permitted, even encouraged, to cross-register for classes. In addition, Action Labs provides students with real-world experience solving real-world problems.
Sloan was established to support MIT’s goal of developing leaders in the fields of science and technology. It began as one course, but later expanded to become the Department of Business and Engineering Administration. Sloan Fellows was launched in 1931 as a graduate school geared toward educating mid-career professionals. Only managers who were nominated by their employers would be accepted, and even then, it was highly competitive. Alfred P. Sloan provided the funding for Sloan Fellows.
As one of the top institutions in the world, MIT provides great support for Sloan School of Management and MIT’s connection with Harvard gives Sloan students access to even more resources and some of the leading minds in management and finance. A 2015 study documented the profound impact MIT Sloan alumni have had on the world economy. Companies from Sloan alumni have created millions of jobs and brought in annual revenues of almost $2 trillion.
MIT Sloan Salary & Employment Data
In this article, we’ll give an overview of the MIT Sloan Employment Report. Topics we’ll hit on:
- Popular Industries for MIT Sloan MBAs
- Companies Typically Hiring Sloan MBAs
- Average MIT Sloan MBA Salary
- Average MIT Sloan MBA Salary by Region
- Average MIT Sloan MBA Signing Bonus
- MIT Sloan Employment Report
Popular Industries for MIT Sloan MBAs
Management consulting leads the way when talking about the most common industries MIT Sloan MBAs go into. Finance (Investment Banking, Private Equity, etc.) and Tech (software, internet, etc.) are not too far behind. If you’re looking to break into either of these three sectors, an MBA from MIT Sloan will put you in a good position to do so. The full list of popular industries at Sloan is below:
- Consulting – 28.3%
- Finance – 21.4%
- Software/Internet – 21.4%
- Pharmaceutical/Healthcare/Biotechnology – 9.8%
- Consumer Products – 4%
- Automotive/Aerospace – 3.6%
- Computers/Electronics – 2.9%
- Other- 2.5%
- Media/Entertainment/Sports – 1.8%
- Energy – 1.8%
- Retail – 1.1%
- Nonprofit- 0.6%
- Government – 0.4%
- Education – 0.4%
Companies Typically Hiring MIT Sloan MBAs
Consulting and Big Tech companies are hiring MIT Sloan MBAs like it’s going out of style. McKinsey, BCG, and Bain were among the top five companies hiring MIT Sloan MBAs, with Google and Amazon in the mix as well. These five companies alone were responsible for over ninety hires out of Sloan. The top twelve companies hiring MIT Sloan MBAs are:
- McKinsey & Company – 30
- The Boston Consulting Group – 29
- Amazon – 12
- Bain & Company – 11
- Google – 9
- JP Morgan Chase & Co – 4
- Morgan Stanley – 4
- Rivian – 4
- Amgen – 3
- HelloFresh – 3
- IBM – 3
- Nike - 3
Average MIT Sloan MBA Salary
The average base salary the MIT Sloan MBA class of 2021 received was $148,075. This was a sizable increase from the prior year’s $144,140. In addition, the average salary for management consultants was a notch higher at $157,572.
So, if you’re weighing the cost of obtaining an MBA, factor in the likely salary bump you’ll receive upon graduation.
Average MIT Sloan MBA Salary By Region
Below, we break down the average salary for MIT Sloan MBA grads by region:
North America
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- North American Average: $149,874
- Northeast: $149,704
- West: $151,473
- Mid-Atlantic: $142,392
- Southwest: $147,941
- South: $154,182
- Midwest: $148,333
- Canada: $156,500
Outside North America
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- Asia: $138,223
- Europe: $143,333
- Latin American & The Caribbean: $107,143
MIT Sloan MBA Signing Bonus
The median MIT Sloan MBA signing bonus was $30K in 2021 and 72% of students who accepted an offer reported receiving one. Reported signing bonuses were anywhere from $1,500 to $70,000. These numbers are on par with most top-tier business schools.
To zero in on management consulting, the majority (84%) of hires received a signing bonus. Signing bonuses for consultants ranged from $10,000 to $60,000 with an average of $29,382. If you’re thinking of attempting to break into consulting, make sure you’re prepared for the toughest interview you’ll ever face, the case interview.
MIT Sloan Employment Report
Highlights from the MIT Sloan MBA Employment Report:
- % of grads employed after 3 months: 94.8%
- Average overall salary (USD): $148,075
- Median Signing Bonus: $30K
- #1 reason for accepting a job offer: growth potential
- Top industry: management consulting
Conclusion
Consulting firms led the way in hiring MIT Sloan graduates – McKinsey, Bain, and BCG alone were responsible for 70 hires.
It’s hard to beat MIT Sloan’s location if you’re looking to break into the field of management consulting. Not only is it close to Harvard and the thriving business hub of Kendall Square, but it’s a subway ride away from some of the largest consulting firms in the world.
Looking for more info about Sloan? Check out our listing on the program for info on available degrees, tuition cost, campus, alumni, and more.
Additional Resources:
- Pre-MBA Programs
- Are consulting firms overvaluing MBA hires?
- Consulting Firm Directory
- Best Business Masters Programs for Consulting