Program Basics

• • MIT Sloan School of Management
  • 50 Memorial Drive
  • E52-126
  • Cambridge, 02142, Massachusetts
  • United States
  • Program Web site: http://mitsloan.mit.edu/mba
  • Status: Private
  • Program e-mail address: mbaadmissions@sloan.mit.edu
  • Graduate business school is accredited by:
    • Association to Advance Collegiate Schools of Business (AACSB)

SCHOOL BASICS

• Graduate business school enrollment:

  • Total: 1,203
  • Full-Time MBA: 790
  • Executive MBA: 236
  • PhD Program: 82
• • Other graduate degree programs:
    • Master of Finance
    • Other
  • Master of Science in Management Studies (MSMS)

PROGRAM COSTS

• Total direct costs (tuition and required fees) of the entire MBA program:

  • Resident: $103,797.00
  • Nonresident: $103,797.00
  • Recommended annual budget (Resident): $82,632.00
  • Recommended annual budget (Nonresident): $82,632.00

PROGRAM LENGTH

• • Full-time program (months): 22

ADMISSIONS

• Application Deadlines

  • Semester: Fall 2012
  • Deadline: Oct 25, 2011
  • Semester: Fall 2012
  • Deadline: Jan 10, 2012
• • Does the program have rolling admissions? No
  • Is proficiency in English required for admission? Yes
  • Is a minimum score on an English language proficiency test required? No
• • Minimum paper-based TOEFL score required for MBAs: N/A

• Relative Importance of Application Elements:

  • GMAT Score: Important
  • Resume/Work Experience: Important
  • Application Essays: Important
  • Interviews: Important
  • Recommendations: Important
  • Undergraduate Transcripts: Important

APPLICANTS

• • Applications (admitted and denied) to the newest class: 4,490
  • Applicants who were accepted to the most recent class: 13 %
  • Admitted applicants who enrolled in the newest class: 67 %
  • Applicants who were re-applicants from prior years: 6 %
  • Percentage of this year's reapplicants accepted: 22 %
  • Applicants wait-listed during the last admissions cycle: N/A
  • Wait-listed applicants admitted for the semester to which they applied: N/A
  • Applicant interviews are: Required
  • Applicants (admitted and denied) who were interviewed: 21 %
  • Admitted applicants who were interviewed: 100 %

APPLICANT POOL

• • International applications received: 52 %
  • Applications from women received: 23 %

CLASS PROFILE

• Full-time students in newest entering class (2010-2011) that are:

  • Female: 38 %
  • International: 38 %

• Students from following regions:

  • Africa: 1 %
  • Asia: 18 %
  • Europe: 8 %
  • North America: 64 %
  • Latin America and the Caribbean: 9 %

• Percentage of U.S. students in newest entering class that are:

  • African American: 8 %
  • Asian American: 24 %
  • Hispanic or Latino American: 15 %
  • Native American: 1 %
  • White (Non-Hispanic): 46 %
  • Chose not to report: 6 %

• Percentage of U.S. students in newest entering class who are from the following regions:

  • Northeast: 52 %
  • Mid-Atlantic: 9 %
  • South: 9 %
  • Southwest: 7 %
  • Midwest: 5 %
  • West: 18 %
• • Mean months of work experience of newest entering class: 58
  • Median months of work experience of newest entering class: 60

• Middle 80% range of work experience of newest entering class in months:

  • From: 36
  • To: 96
• • Median age of entering class: 28
  • Mean age of entering class: 28

FINANCIAL AID

• • Full-time MBAs apply for financial aid through: Central financial aid office at the university
  • Full-time MBAs who applied for financial aid for the current academic year: 73 %
  • Full-time MBAs receiving financial aid in the current academic year: 63 %
  • Mean MBA financial aid package for the current academic year: $67,288.00
  • Median MBA financial aid package for the current academic year: $80,632.00
  • On what basis are scholarships awarded?
    • some other criteria
    • financial need
  • How does an applicant apply for scholarship consideration? all candidates are considered for scholarship
  • Mean scholarship awarded to full-time MBAs in the previous academic year: $25,230.00
  • Does the school offer a guaranteed loan to all MBAs regardeless of nationality? Yes
  • Mean outstanding debt among the most recent graduates from the full-time MBA program: $81,844.00

GMAT

• • Are applicants required to take the GMAT? Yes
  • Are applicants allowed to submit the GRE? Yes

• GMAT score distribution (incoming class):

  • Average GMAT Score 710
  • 50th Percentile (median) 710

CLASS OFFERINGS

• • Average number of students in a full-time MBA core class: 66
  • Average number of students in a full-time MBA elective class: 47
  • Elective courses available to full-time MBA students: 143

• Electives that have been added to the full-time program since June 30, 2010:

  • Analytics of Finance
  • Global Health Care Delivery and Management
  • Large Scale Healthcare Delivery Systems
  • Innovation Strategy
  • Managing Sustainable Businesses for People and Profit

• Concentrations and specializations offered to full-time MBA students:

  • • Finance
    • Entrepreneurship
  • Sustainability

• Joint-degree programs offered to full-time MBAs:

  • • MBA/MS (Science)
    • MBA/Meng (Engineering - Manufacturing Management)
    • Other
    • MBA/ME (Engineering)
    • MBA/PhD
• • Does the school offer an accelerated full-time MBA program? No

• The school believes that its leading areas of study for full-time MBA students are:

  • • Finance
    • Entrepreneurship
    • Strategy
    • Operations Management
    • Manufacturing and Technology Management

FACULTY

• • Faculty employed by the B-school: 112

• Full-time faculty:

  • Tenured: 74
  • Non-Tenured: 38

• Adjunct/Visiting Faculty:

  • Tenured: NA
  • Non-Tenured: NA

• Women on Faculty:

  • Tenured: 10
  • Non-Tenured: 14

• Minority Faculty:

  • Tenured: 6
  • Non-Tenured: 4

• International Faculty:

  • Tenured: 9
  • Non-Tenured: 21

• Faculty with PhDs:

  • Tenured: 74
  • Non-Tenured: 38

STUDENT LIFE

• Professional clubs available to full-time MBA students:

  • • Biotech/Health care
    • Corporate Social Responsibility/NetImpact
    • Entrepreneurship
    • Consulting
    • Finance
    • Marketing
    • Nonprofit
    • VC/ Private Equity
    • Environmental
    • High Tech
    • Information Technology
    • Investment Banking
    • Manufacturing
    • Media & Entertainment
    • New Media

• Networking clubs available to full-time MBA students:

  • • Black MBA Association
    • Hispanic Student Organization
    • International Club
    • Partners/Family
    • Women in MBA
    • Other
    • Gay/Lesbian/Bisexual
    • Wine

TEACHING/ACADEMICS

• Teaching methods used:

  • Case Study: 33 %
  • Experiential Learning: 13 %
  • Lectures: 33 %
  • Simulations: 5 %
  • Team Projects: 16 %

• Requirements for graduation:

  • • Students must complete a company-specific project and present results to relevant parties
    • Students must have attended a minimum number of classes
    • Students must have earned a pre-determined GPA/Letter grade average
  • Leadership elective, Sloan Innovation Period requirement

TECHNOLOGY

• • Technology improvements in the last three academic years: Implemented SharePoint w/ Student Portal. Opened technologically advanced new academic building. Outfitted 12 classrooms with state-of-the-art technology: dual projectors, document camera, HD video and audio conferencing, HD lecture capturing, and dedicated Macs and PCs. Equipped 40 study rooms with small group presentation equipment-25 of them with HD video conferencing/recording equipment. WebEx and Qualtrics provided to community, Visix deployed, virtualized PCs in public labs and classrooms.

B-SCHOOL ALUMNI

• • Living MBA alumni: 11,396
  • Active MBA alumni clubs: 6
  • Countries in which MBA clubs exist: 4
  • Living MBA alumni who gave in past year: 29 %
  • Mean gift from MBA alumni: $945.00
  • Median gift from MBA alumni: $100.00
  • Did school receive an individual gift in excess of $10 million in the past academic year? No
  • Business School endowment: $631,650,718.00
  • Does the main university offer career placement services for alumni? Yes
  • Does the main university have an alumni networking Web site? Yes
  • University alumni networking site: http://alum.mit.edu
  • Does the B-School have an alumni networking Web site? Yes
  • Business school alumni networking site: http://mitsloan.mit.edu
  • Does the B-SCHOOL offer career services for alumni? Yes
  • Do current MBA students have access to an alumni database? Yes

SCHOOL COMMENTS

• • School Comments: We prefer not to disclose interim career data in advance of the official release date in late-Oct/early-Nov.

• • There are a lot of similarities between all the top MBA programs, but MIT Sloan offers a small class size, enormous global scope, and extraordinarily down to earth people. That combination is unique and it makes a huge difference to set the MIT Sloan experience apart without compromising any of the key promises of MBA programs.
    
    Sloan strikes a strong balance between theory and practice and the program allows for a great deal of latitude in structuring your own curriculum. Basically, once you leave the core curriculum you can focus on whatever you like.
    
    If students are looking for a quantitatively-oriented MBA that combines both theory and practice in a way that no other top business school does, then MIT Sloan is the right place. I have never been pushed so far in terms of academics, leadership, and personal growth--and I know that I'm a more confident and capable person for having gone through the MIT Sloan MBA program.
    
    MIT is a great school, where the people make the place. Everyone is relaxed and humble, but ambitious and funny! The school is not only about the academics, but there are a ton of things to be part of. The two strongest academic-related pillars of an MBA at MIT are entrepreneurship (great classes, professors, and an open community), and finance (outstanding professors).
    
    No other program that I have heard of gives the same opportunities or experiences. Partner companies that supported the program gave us amazing access to their organizations. The MBA program encouraged integration to the rest of the university to work together with the more technically focused students on the business side of their projects. Tons of speakers from all across campus, trips to everywhere in the world to see and work on projects. Amazing experience.
    
    MIT Sloan is committed to teaching a way of business administration that is both highly entrepreneurial and quantitative. For me, getting a graduate level education that lived up to the brand of MIT and actually forced me to develop those quantitative skills are exactly in line with what the job market is looking for in 2010. Strategy and general management have their place for sure, but coming from a liberal arts undergraduate background, I thought it essential that I round out my personal profile with more analytics and entrepreneurship--to me, that is MIT Sloan.
    
    MIT has a unique culture of collaboration and excellence. Students are really keen, while being down to earth. Also, the high caliber of faculty members and the opportunity to sit in any other class across campus is very interesting.
    
    Financially, it makes sense: I more than tripled my previous salary. From the experience, MIT Sloan gives you opportunities to get involved in so many different areas of business, and learn with hands-on experiences, consulting with real companies and executing projects that make a difference. Finally, the people at Sloan are more collaborative than at any other school I have seen. That is unique, because at the end of the day, your network is the most valuable thing an MBA gives you.
    
    The MBA at MIT Sloan is a uniquely engaging, hands-on experience. The classrooms are not only full of smart and engaged students, but with students who are action-oriented. It is illustrative to consider that many (if not most) of my classmates were practicing engineers prior to school--they're not just smart, with nice resumes, but they are "roll up your sleeves" type people. They will be leaders in their future careers and they will be the ones to help shape American industry going forward. I do not believe that I could have had such a challenging and enlightening experience anywhere else.
    
    I believe Sloan has the most practical MBA around. Every class is focused on solving real world problems and making a difference. The people are also very down to earth. We are more cooperative and focused on mutual success than people from other schools I have met. Sloan students realize we don't get ahead by making sure someone else gets behind.
    
    I had a great experience and the opportunities that one can find here in any field are abundant. There is no herd mentality here, lots of students are into lots of things and there's a good mix and it's always increasing. I like how people do what they really want to do here, not what their peers are doing.
    
    I have gained enormous hands-on experience during school. I had much feedback from world renowned faculty members regarding a research project I was doing that turned into a thesis. The school brand and faculty names have opened many doors for me to hedge funds and large banks on Wall Street that were more than willing to look at my research and devote time and effort in giving me additional feedback and a couple of job offers.