Massachusetts Institute of Technology #
Year Founded: 1861
Average GMAT: 728
Country: United States
Located on the East Coast along the Charles River and in the neighborhood of Boston, Massachusetts Institute of Technology, boasts a impressive combination of both business and technology related studies. MIT is one of the world’s best research institutions, leading the world in tackling global challenges. With students, researchers, and alumni work together at MIT to solve some of the world’s most challenging problems. From economic development in the developing world to addressing climate change, the people at MIT are at the forefront of making a difference. Students at MIT will learn through hands-on approaches and global experiences with a focus on impact. Faculty are able to conduct innovative research while teaching and supporting their students. Upon graduation, students enter a global network of alumni who are ready and willing to support each other as they work to achieve their career goals.
Featured Professors #
Robert C. Merton
Robert C. Merton is the MIT Sloan School of Management Distinguished Professor of Finance. Merton earned his PhD in Economics from MIT in 1970 and has worked at Harvard Business School as the George Fisher Baker Professor of Business Administration and the John and Natty McArthur University Professor. In 1997, Merton received the Alfred Nobel Memorial Prize in Economic Sciences for his work on the methodology to determine the value of derivatives. In addition, Merton is the recipient of numerous awards, including: The Inaugural Financial Engineer of the Year Award from the International Association for Quantitative Finance, the 2011 CME Group Melamed–Arditti Innovation Award, and the 2013 WFE Award for Excellence from the World Federation of Exchanges.
Deborah J. Lucas
Currently, Deborah J. Lucas is the Sloan Distinguished Professor of Finance. She received her BA, MA and PhD in Economics from the University of Chicago. At the moment, her research interests are on the development and application of financial economics in the evaluation of the costs and risks of governments’ financial activities. She has been published multiple times and has worked professionally as the chief economist and the assistant and associate director at the U.S. congressional Budget Office. She has also testified in front of Congress on Fannie Mae and Freddie Mac, Student Loans and the strategic importance of financial institutions. She is currently a member of the National Academy of Public Administration and the National Academy of Social Insurance.
#5 USNews – Best Business Schools
#9 USNews – Executive MBA
#3 QS Global MBA Rankings 2021
MBA Program Overview #
At MIT Sloan ‘ideas are made to matter’. Finding a way to have an impact on the world is integral to the Sloan experience. Whether full-time MBA students are driven by the desire to solve social problems or hoping to start a new company, MIT Sloan’s mission is to support their students as they embark on their MBA journey. Students can learn how to best enter the career world by utilizing MIT Sloan’s Career Core program. Students have access to one-on-on career coaching, faculty who are at the forefront of their fields, club events and company presentations. All of which allow students to engage in a unique and beneficial MBA experience at MIT Sloan. The full-time MBA program at MIT Sloan is a two year program with 144 units of electives needing to be completed. Students graduate into a world filled with over 136,000 MIT alumni from over 90 countries. To help with the MBA experience, incoming students are matched with alumni mentors who can give advice and share their personal experience. After graduating from MIT with an MBA, students will find their degree opens up a world of opportunities around the globe. For international students, the qualification of MIT’s MBA Program as a STEM-designated program means that they are allowed to extend their stay in the U.S. by 24 months.
Year One Description #
The full-time MBA program at MIT Sloan begins with the Core Semester. In conjunction with their peers, incoming students participate in classes meant to set them up for success in the program. Students are meticulously grouped into cohorts, all of which are individuals from unique backgrounds and interests. As per tradition, each cohort is subsequently named after a body of water: Atlantic, Baltic, Caribbean, Indian, Mediterranean, and Pacific. Smaller teams are then made from within each cohort. These teams attend the Core Semester classes together so that they can build the necessary strong and supportive community. Once students have completed the first semester of their program, they can select elective courses in order to customize their academic journey.
Fall Semester Mandatory Classes
- Economic Analysis for Business Decisions
- Data, Models, and Decisions
- Communication for Leaders
- Organizational Processes
- Financial Accounting
Spring Semester Mandatory Classes
- Managerial Finance
- Intro to Operations Management
- Competitive Strategy
- Marketing Innovation
Year Two Description #
During the last three semesters, students need to complete 144 units of electives. There is also an option to take j3 approved, non-MIT Sloan graduate-level MIT or Harvard Subjects. Students are welcome to write a final thesis during their second year. Students can choose amongst three different tracks to help them narrow their scope of interest. These include:
- Finance Track
- Entrepreneurship & Innovation Track
- Enterprise Management Track
Students can also earn certificates in a specific area of focus. These certificates are open to all MIT master-level students.
GMAT/GRE Stats #
Class of: 2022
Average GMAT: 720
GMAT total range: 680-760 (middle 80%)
Verbal Range GRE: 155-167 (middle 80%)
Quant Range GRE: 156-168 (middle 80%)
Unique Aspects #
Alumni Advisors Hub
New incoming MBA students have access to MIT Sloan alumni to help them excel in the MBA program. The MIT Alumni Advisors Hub takes place through and online platform and offers current and former students a chance to participate in one-on-one conversations to build connections and glean advice. Alumni can support students through mock interviews, reviewing resumes, providing information. This opportunity strengthens networks and has a positive and lasting impact on Sloan’s community.
Student Life #
Student life at MIT Sloan means having access to a large alumni network, building lasting relationships, and participating in student run events and clubs. Sloan creates a student environment that is diverse and supportive. Sloan emphasizes an environment of Care, Contribution, and Community allowing students the chance to embrace their time at MIT Sloan. Students have access to the Student Life Staff to help them navigate their student experience.
Applicant Requirements #
Applicants to the MIT Sloan MBA program must submit a cover letter. The cover letter should overview how applicants plan to utilize Sloan’s opportunities to further their academic and non-academic interests. The admissions commitee seeks students who :
- Are thoughtful leaders
- Possess intellectual abilities
- Are driven and determined
- Willing to put their mark on the world
- Redefine solutions to conventional problems
- Have integrity and respect passion
The letter must:
- Conform to a standard business correspondence
- illustrate why applicants meet desired above criteria
- Addresses to teh Assistant Deans of Admissions, Rod Cargia and Dawna Levenson
- (Max. 300 words. excludes address and salutation).
Transcripts from all previously attended schools of higher education must be submitted. Applicants who are in the middle of attending an institution during their application, must provide the most up-to-date transcript possible. After an offer of submission has been extended, applicants must provide an official transcript.
GMAT, GRE, EA scores are to be submitted in order for the admissions committee to have a more holistic understanding of the applicant. Score submissions must by reported (self-reported or otherwise) by the application deadline.
One letter of recommendation is required for the application. Recommenders should be able to address the professional capabilities of the applicant. Responses can be submitted as a letter or short answer format. Family member recommendations are not accepted. Recommenders should be able to answer the following:
- Describe the applicant’s role in the organization (50 words)
- The performance of the applicant (500 words)
- Provide constructive feedback given to the applicant (500 words)
- Additional information (optional)
2 additional references are also required for the application. Names and phone and email of the reference must be provided. References must speak to the applicants professional and academic capabilities.
The resume for the applications cannot be longer than 1 page. Formatting must be the following:
- 1 page limit
- Times New Roman font
- Size 10 font
- Word or PDF format
- Redact (remove or black out) name, address and contact information.
- List information on the resume in chronological order. Include:
- Education, Work experience, additional information (ie languages and work experience, skills, certificates)
Applicants must submit a 1 minute video in order introduce themselves. Applicants should discuss why MIT Sloan is the optimal MBA program to achieve their professional and academic goals.
- Videos must be in the following format:
- Not longer than 1 minute in length
- Single Take (no edits)
- Address the camera directly
- No background music or subtitles.
An application fee of $250 is due when application is submitted The fee is non-refundable and can be paid via credit card.
Applicants must submit an organizational chart outlining the internal structure of their previous place of employment (department and company). Cannot be over two pages in length. This chart can either be created by the applicant or be a premade chart with names redacted. It is necessary to make this chart as informative as possible. Necessary for the admissions committee to see the applicant’s line of reporting. Applicants formerly in consulting must submit a chart of a current or previous project of which they were a part.
Top Industry Destinations #
- Consulting 31.1%
- Tech. 27.6%
- Finance 18.5%
Top Function Destinations #
- Consulting/Strategic Planning 39.7%
- Finance 16.7%
- Product Management/Development 16.7%
Top Location Destinations #
- North America 90.7%
- Europe 3.8%
- Asia 3.1%
- Latin American and the Caribbean 1.0%
- Middle East 0.7%
- Oceania 0.7%