Employment Report: Class of 2006 Overview

Class of 2006 Profile¹

Number of Candidates377
U.S. Citizens67%
Non-U.S. Citizens33%
Women31%
Median GMAT Score700
Median Undergraduate Grade-Point Average (out of 4.0)3.5
Average Age at Entry to MIT Sloan28.7
Average Years of Full-Time Work Experience
Prior to MIT Sloan
5.4

¹ Class profile (as of matriculation) and employment statistics (as of graduation) include information for MBAs and students in the joint MBA/Leaders for Manufacturing program.

Class of 2006 Employment Profile²

 NumberPercent
Seeking Employment30281.9
Not Seeking Employment5314.3
Continuing education61.6
Company sponsored or have been employed as student287.6
Starting own business154.1
Job search postponed20.5
Other reason(s) for not seeking20.5
No Information Available143.8
Total Graduates369100.0

² All information based on data reported by students.

Full-Time Employment Overview³

Mean Base Salary$101,988
Median Base Salary$100,000
Range of Base Salary$6,500-$165,000

³ Full-time employment statistics based on job acceptances. 95.1% of reported acceptances included usable salary information.

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Top Hirers of Class of 2006

  • McKinsey & Company (21)
  • Bain & Company (15)
  • The Boston Consulting Group (12)
  • Lehman Brothers (9)
  • Microsoft Corporation (8)
  • Goldman Sachs (7)
  • Bank of America (6)
  • Booz Allen Hamilton (6)
  • Deloitte Consulting (6)
  • Johnson & Johnson (6)
  • Credit Suisse (5)
  • Fidelity (5)
  • Monitor Group (5)
  • Morgan Stanley (5)

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Salary Figures

Class of 2006 Base Salary by Industry

  Percent Mean Median Range
Service Industries 79.2 $103,301 $100,000 $50,000-165,000
Consulting 28.8 108,828 110,000 85,000-132,000
Investment Banking 15.8 98,388 95,000 95,000-125,000
Software 10.2 106,635 100,000 60,000-150,000
Investment Management 8.4 94,417 93,000 70,000-125,000
Diversified Financial Services 5.3 97,533 95,000 77,000-125,000
Media/ Entertainment 4.2 104,583 105,000 50,000-165,000
Retail 1.8 106,400 115,000 75,000-132,000
Venture Capital/Private Equity1.4118,750117,50090,000-150,000
Real Estate0.6Insufficient data¹Insufficient dataInsufficient data
Service: Other2.792,31392,50073,500-105,000
Manufacturing Industries20.4$97,639$100,000$6,500-130,000
Pharmaceutical/ Healthcare/ Biotechnology6.0102,943102,00088,704-125,000
Computers/ Electronics4.6100,154100,00085,000-110,000
Automotive/ Aerospace3.5100,389100,00083,500-110,000
Telecommunications1.492,00091,50090,000-95,000
Consumer Packaged Goods1.187,00087,00084,000-90,000
Oil/Energy0.7Insufficient dataInsufficient dataInsufficient data
Transportation/ Equipment/ Defense0.6Insufficient dataInsufficient dataInsufficient data
Manufacturing/ Other2.585,21490,0006,500-130,000
Government/ Non-Profit0.4Insufficient dataInsufficient dataInsufficient data

¹ Insufficient data indicates fewer than three people or less than 1% reported salary information.

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Class of 2006 Base Salary by Job Function

PercentMean Median Range
Consulting/ Strategic Planning 30.6 $108,398 $110,000 $82,000-140,000
Finance (total) 28.9 96,545 95,000 70,000-150,000
Finance/ Investment Banking 8.2 96,591 95,000 95,000-110,000
Finance/ Investment Management 7.8 97,841 95,000 70,000-150,000
Finance/ Sales & Trading 6.8 98,053 95,000 95,000-120,000
Finance/ Research 1.1 95,359 100,000 85,000-101,076
Finance/ Other² 5.0 92,346 90,000 75,000-110,000
Operations/ Project Management 10.0 97,667 100,000 42,000-125,000
Marketing/Sales 9.6 96,946 95,000 60,000-132,000
General Management/ Leadership Development Program 6.4 103,389 106,000 6,500-150,000
Product Management/ Development 6.0 105,147 100,000 50,000-165,000
Business Development 4.6 107,455 110,000 80,000-140,000
Information Technology 0.7 Insufficient data Insufficient data Insufficient data
Other 3.2 101,167 100,000 73,500-125,000

² Finance/Other includes venture capital, private equity, and corporate finance.

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Class of 2006 Base Salary by Geographic Location

PercentMeanMedianRange
United States80.4$102,971 $100,000$50,000-165,000
Northeast47.7102,723100,00050,000-165,000
Boston Metro 21.7 100,958 100,000 50,000-165,000
New York Metro 25.2 104,171 102,000 84,000-140,000
West18.1106,061105,00080,000-150,000
Mid-Atlantic5.0100,979100,00085,000-125,000
South4.2106,900110,00095,000-115,000
Southwest3.694,35092,50070,000-115,000
Midwest1.894,00093,000 82,000-110,000
Outside U.S.19.6$98,021$100,000$6,500-140,000
Asia9.392,34895,0006,500-115,000
United Kingdom5.0105,775105,00090,000-125,000
Central/South America, Mexico3.693,77895,00050,000-132,000
Europe1.7115,000110,000100,000-140,000

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Class of 2006 Base Salary by Undergraduate Major

MajorPercentMeanMedianRange
Engineering43.5$100,842$100,000$6,500-165,000
Social Sciences & Humanities22.8101,541100,00073,500-140,000
Business19.3102,398101,00042,000-140,000
Sciences & Mathematics14.4105,877110,00050,000-150,000

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Class of 2006 Base Salary by Professional Experience

PercentMeanMedianRange
One year or less0.3insufficient data insufficient data insufficient data
More than 1 year, up to 3 years12.6$97,763$98,000$50,000-115,000
More than 3 years, up to 5 years47.2100,716100,0006,500-140,000
More than 5 years39.9104,943105,00050,000-165,000

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Signing Bonus Received by Job Function¹

Percentage ReportingMeanMedianRange
Finance/Research100$21,167$25,000$8,500-30,000
Finance/ Investment Banking95.731,43230,00026,000-40,000
Finance/Sales & Trading94.729,97230,00010,000-37,500
Consulting/ Strategic Planning94.218,82820,000 5,000-40,000
General Management/ Leadership Development Program88.916,00015,0005,000-25,000
Operations/Project Management82.017,06815,0007,500-48,000
Product Management/ Development64.717,72715,0005,000-45,000
Marketing/Sales59.316,25015,0002,000-30,000
Finance/ Investment Management54.520,41720,0005,000-35,000
Business Development53.812,50010,0005,000-22,000
Finance/Other²50.029,14325,00015,000-70,000

¹ 78% of the students reporting usable salary data reported receiving a signing bonus. Percentage represents the number of students who received a signing bonus in the job function.

² Finance/Other includes venture capital, private equity, and corporate finance.

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Other Guaranteed Compensation

Percent ReportingMeanMedianRange
22$25,704$18,000$3,000-125,000

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Class of 2006 Timing of Job Offers

At GraduationThree Months After Graduation
Percent of Students93.497.7

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Class of 2006 Timing of Job Acceptances¹

At GraduationThree Months After Graduation
Percent of Students84.494.0

¹ One graduate, representing 0.35% of graduates, reneged on an accepted offer.

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Class of 2006 Reason for Accepting Position

 Percent
Growth Potential28.5
Job Function17.8
Job Content15.3
Industry12.5
People/Corporate Culture9.6
Prestige of Firm5.7
Location5.7
Compensation2.5
Other2.4

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Class of 2006 Source of Job

 Percent
School Facilitated Activities79.3
Scheduled Interview On- and Off-Campus36.4
Summer Internship26.8
Faculty/CDO/Student Referral4.6
MIT/MIT Sloan Sponsored Event3.9
MIT/MIT Sloan Job Postings3.7
Resume Books/Resume Referrals2.5
Club Event1.4
Student Facilitated Activities18.6
Personal Network8.6
Direct Campaign3.9
Previous Employer3.6
Newspaper, Magazine, Job Board2.5
Other2.1

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