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2001 FULL-TIME MBA PROFILE
Massachusetts Institute of Technology
MIT Sloan School of Management

Sections:  Getting In  | Academics & Lifestyle | Career Services | Graduate Comments


Address: Sloan School of Management
50 Memorial Drive
Cambridge , MA 02142-1347
E-Mail: mbaadmissions@sloan.mit.edu
Web site: mitsloan.mit.edu/mba


ENROLLMENT

2001/2002 Classes begin: Sept.

Year program was founded: 1952

Total graduate enrollment 733
Full-time 638
Part-time MBA students (on-campus) 0
Part-time MBA students (distance program) 0
EMBA 54
PhD program 87
 
Current total undergraduate business school enrollment 330
 
Increase in full-time students during last 12 months 3%


STUDENT PROFILE

Female students in class 26%
International students (1) 35%
Underrepresented minority (2) students 5%
Married 27%

Percent students from following regions:
Africa 1%
Asia 14%
Central/South America, Mexico 10%
Eastern Europe 3%
Middle East 1%
North America
 (Canada: n/a / U.S.: n/a  )
57%
Oceania n/a
Western Europe n/a

North American students by region:
Canada n/a
Mid-Atlantic U.S. n/a
Midwest U.S. n/a
Northeast U.S. n/a
South U.S. n/a
Southwest U.S. n/a
U.S. Possessions and territories n/a
West U.S. n/a

(1) Students from countries other than the school's home country.

(2) Defined as U.S. citizens who are African American, Hispanic American, and Native American.


CLASS TRAITS

GMAT Scores
Average 703
Range (middle 80%) 670 - 740

TOEFL Scores*
Mean TOEFL score n/a
Minimum TOEFL score required n/a

Work Experience (months)
Average 60
Range (middle 80%) 36 - 72
Enrolled students with less one year or less work experience 0%

Student Age (years)
Average 28
Range (middle 80%) 26 - 30

Salary
Average annual pay forgone to enter program n/a

* Paper based equivalent. See TOEFL concordance table for computer-based score equivalents.


ADMISSIONS

Application fee: $175

2,940 people applied to the full-time MBA program in 2001. The school accepted 18% (selectivity) of those applicants, and 70% of admitted applicants (yield) enrolled in the program.

The B-school placed 208 applicant(s) on its wait list, from which 31 were ultimately accepted. 5% of applicants had applied in prior years, and of those reapplicants 48% were accepted.

Female applicants n/a
International applicants (1) n/a
Underrepresented minority (2) applicants n/a

Interviews for MBA applicants are:
By invitation only

In 2001, the B-school interviewed 34% of its full-time MBA applicants, and 99% of its admitted applicants.

(1) Applicants from countries other than the school's home country.

(2) Defined as U.S. citizens who are African American, Hispanic American, and Native American.


INVESTMENT AND DEADLINES FOR CLASS OF 2004

Average total (not annual) cost of full-time MBA program
Resident $31,200
Nonresident $31,200
 
Expected monthly rent $1,600
Recommended annual budget (1) $55,310

Application deadline(s) Feb. 13, 2002

Deadline for scheduling an interview: n/a

Financial aid deadline(s): May 2002

First-year MBAs:
Average financial aid package $23,728
Range (middle 80%) $1,028 - $69,000
Average first-year scholarship awards (not including loans) $12,943

Second-year MBAs:
Average financial aid package $20,209
Range (middle 80%) $4,250 - $40,825
Average second-year scholarship awards (not including loans) $11,398

Full-time MBAs receiving financial aid through B-school 10%

Graduate assistantships offered to qualifying second-year MBAs? Yes

Graduate assistantships offered to qualifying first-year MBAs? Yes

Scholarships are merit or need based?
Both

n/a full-tuition scholarships were awarded by the school to full-time MBAs in past 12 months

Guaranteed loan? (2) Yes

Maximum amount students can borrow: $150,000

Average outstanding loans for 2001 graduates: n/a

(1) Student budget includes tuition fees and living expenses.

(2) Upon admission, any accepted applicant, regardless of nationality, and without the need of a cosigner, is eligible for a loan.


CONTACTS

Dean Richard Schmalensee
Hired as of Oct. 1998
 
MBA program director Margaret Andrews
 
MBA admissions director Rod Garcia
 
MBA financial aid director Besty Hicks
 
MBA career services director Jacqueline Wilbur
 
Alumni relations director Eliza Dame


 
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SLOAN PROFILES
Full-time '04 | '03 | '02 | '01 | '00 | '99 | '98
Exec ed '03 | '01

SLOAN INFO
Admissions Q&A '03 | '01 | '00 | '97
Placement Q&A '01 | '00 | '98
Financial Aid Q&A '99 |
Video Views Dean Richard Schmalensee | MBA Dir. Margaret Andrews
B-School Calendar
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SLOAN RANKINGS
Full-time MBA rank:
2004:  9    1994:  10    
2002:  6    1992:  13    
2000:  4    1990:  11    
1998:  15    1988:  15    
1996:  9    
BW ranking history

Exec Ed rank:
2003:  16    1997:  10    
2001:  14    1993:  --    
1999:  12    1991:  12    



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