Employment Report - Class of 2007 Overview

Class of 2007 Profile¹

Number of Candidates375
U.S. Citizens60%
Non-U.S. Citizens40%
Women30%
Median GMAT Score710
Median Undergraduate Grade-Point Average (out of 4.0)3.5
Average Age at Entry to MIT Sloan28
Average Years Full-Time Work Experience Prior to MIT Sloan5

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 2007 Employment Profile²

  Number Percent
Seeking Employment 313 83.2
Not Seeking Employment 48 12.8
     Continuing education 4 1.1
     Company sponsored or have been
     employed as student
29 7.7
     Starting own business 9 2.4
     Job search postponed 4 1.1
     Other reason(s) for not seeking 2 0.5
No Information Available 15 4.0
Total Graduates 376 100

² All information based on data reported by students.

Full-Time Employment Overview³

Mean Base Salary $107,990
Median Base Salary $110,000
Range of Base Salary $65,000 -$161,800

³ Full-time employment statistics based on job acceptances. 98.7% of reported acceptances included usable salary information.

Top Hirers of Class of 2007

  • McKinsey & Company (27)
  • Bain & Company (17)
  • BCG (16)
  • Booz Allen Hamilton (12)
  • Lehman Brothers (9)
  • Google (8)
  • Citi (7)
  • Goldman Sachs (6)
  • IBM (6)
  • Dell (5)
  • Fidelity (5)

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Salary Figures

Class of 2007 Base Salary by Industry

  Percent Mean Median Range
Service Industries 78.8 $110,194 $115,000 $65,000-161,800
Consulting 37.2 115,611 120,000 72,000-140,000
Investment Banking 15.4 100,287 95,000 80,000-161,800
Investment Management 6.7 111,550 110,000 92,000-150,000
Software 4.7 109,429 110,000 75,000-136,000
Media/ Entertainment 4.7 110,357 115,000 65,000-155,000
Retail 3.4 100,000 100,000 90,000-110,000
VC/PE/Hedge Fund 2.3 114,286 111,000 94,000-150,000
Diversified Financial Services 1.7 97,800 95,000 75,000-115,000
Real Estate 1.0 100,833 100,000 92,500-110,000
Service/ Other 1.7 106,000 100,000 90,000-140,000
Manufacturing Industries 19.5 $100,734 $98,000 $68,000-160,000
Computers/ Electronics 7.7 102,233 100,000 85,000-130,000
Pharmaceutical/ Healthcare/ Biotechnology 3.4 92,444 95,000 80,000-105,000
Oil/ Energy 1.7 106,200 106,000 85,000-120,000
Automotive/ Aerospace 1.7 102,200 103,000 90,000-110,000
Consumer Packaged Goods 1.0 88,500 89,000 86,500-90,000
Transportation/ Equipment/ Defense 0.7 —¹
Telecommunications 0.7
Manufacturing/ Other 2.6 98,250 95,000 68,000-120,000
Government/ Nonprofit 1.7 $88,000 $80,000 $65,000-120,000

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

Top Industries

      2007 2006 2005
Consulting 37.2% 28.8% 26.2%
Investment Banking 15.4 15.8 13.6
High Technology* 13.1 16.2 14.5

*Includes Computers/Electronics, Software and Telecommunications

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Class of 2007 Base Salary by Job Function

  Percent Mean Median Range
Consulting/ Strategic Planning 40.6 $114,891 $120,000 $72,000-140,000
Finance (total) 26.1 103,016 95,000 75,000-161,800

Finance/ Investment Banking

10.4 99,693 95,000 80,000-161,800

Finance/ Investment Management

7.7 109,548 110,000 75,000-150,000

Finance/Sales & Trading

4.0 97,917 95,000 95,000-115,000

Finance/ Research

0.3 —¹

Finance/ Other²

3.7 99,348 100,000 85,830-111,000
Marketing/ Sales 8.1 93,854 95,000 65,000-120,000
Product Management/ Development 7.4 108,705 105,000 80,000-136,000
General Management/ Leadership Development Program 6.7 105,056 107,000 65,000-155,000
Operations/ Project Management 5.7 102,529 105,000 68,000-160,000
Business Development 2.7 107,875 115,000 80,000-120,000
Information Technology 0.7
Other 2.0 107,000 101,500 94,000-125,000

¹ — indicates fewer than three people or less than 1% reported salary information.
² Finance/ Other includes corporate finance and private equity.

Top Functions

      2007 2006 2005
Consulting 40.6% 30.6% 27.9%
Finance 26.1 28.9 28.6
Marketing/ Sales* 8.1 n/a 9.7

*Not a top function in 2006

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Class of 2007 Base Salary by Geographic Location

  Percent Mean Median Range
North America 86.2 $107,342 $110,000 $65,000-150,000
United States 84.9 107,311 110,000 65,000-150,000
Northeast¹ 50.7 107,682 110,000 65,000-150,000
Metro Boston 25.5 110,087 115,000 65,000-130,000
Metro New York 23.2 105,699 102,750 65,000-150,000
West 18.8 106,810 105,000 75,000-136,000
Southwest 5.4 107,563 111,000 80,000-122,000
Midwest 4.0 105,917 109,000 80,000-120,000
Mid-Atlantic 3.4 107,850 110,000 86,500-122,000
South 2.6 104,875 107,500 90,000-116,000
Mexico 1.0 105,667 102,000 95,000-120,000
Canada 0.3 —²
Rest of the World 13.8 $112,005 $110,000 $75,000-161,800
Asia 6.7 104,400 100,000 75,000-160,000
Europe 5.4 119,981 114,500 98,000-161,800
United Kingdom 3.4 119,590 117,500 105,000-140,000
Latin America and the Caribbean 1.7 116,899 101,496 93,000-155,000

¹ Northeast includes states/cities beyond Metro Boston and Metro NYC.
² — indicates fewer than three people or less than 1% reported salary information.

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Class of 2007 Base Salary by Undergraduate Major

Major Percent Mean Median Range
Engineering 45.5 $109,460 $110,000 $75,000-161,800
Social Sciences & Humanities 20.2 104,242 110,000 65,000-150,000
Business 18.5 107,867 110,000 68,000-155,000
Sciences & Mathematics 15.8 108,685 107,500 75,000-154,000

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Class of 2007 Base Salary by Professional Experience

Years Experience Percent Mean Median Range
One year or less 2.7 $99,979 $102,500 $65,000-120,000
More than 1 year, up to 3 years 15.4 103,023 103,000 65,000-140,000
More than 3 years, up to 5 years 42.1 110,410 115,000 75,000-161,800
More than 5 years 39.8 107,885 110,000 72,000-155,000

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Signing Bonus Received by Job Function¹

Percentage Reporting Mean Median Range
Finance/ Sales & Trading 100.0 $41,667 $40,000 $20,000-50,000
Finance/ Investment Banking 93.5 41,807 40,000 37,400-50,000
Consulting/Strategic Planning 90.9 19,976 20,000 9,000-50,000
Finance/Other² 90.9 19,131 14,903 5,000-47,000
Operations/Project Management 88.2 17,122 15,833 5,000-30,000
Product Management/ Development 86.4 15,368 12,000 4,000-40,000
Business Development 75.0 20,833 22,500 5,000-30,000
General Management/ Leadership Development Program 75.0 16,667 15,000 5,000-30,000
Marketing/ Sales 75.0 15,361 15,000 2,000-32,500
Finance/ Investment Management 73.9 25,959 20,000 10,000-60,000

¹ 85.6% 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 corporate finance and private equity.

Other Guaranteed Compensation

Percent Reporting Mean Median Range
13 $30,813 $25,000 $2,000-$150,000

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Class of 2007 Timing of Job Offers

  At Graduation Three Months after Graduation
Percent of Students 92.7% 97.2%

Class of 2007 Timing of Job Acceptances¹

  At Graduation Three Months after Graduation
Percent of Students 86.9% 94.6%

¹ One graduate, representing 0.27% of graduates, reneged on an accepted offer.

Class of 2007 Reason for Accepting Position

  Percent
Growth Potential 26.5
Job Content 20.2
Job Function 18.8
Industry 12.4
People/Corporate Culture 8.7
Location 6.7
Prestige of Firm 3.7
Compensation 2.7
Other 0.3

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Class of 2007 Source of Job

Percent
School Facilitated Activities 76.3
Scheduled Interviews On and Off Campus 34.5
Summer Internship 31.4
MIT/MIT Sloan Job Posting 5.6
Faculty/CDO/Student Referral 3.1
Resume Books, Resume Referral 1.4
Club Event 0.3
Student Facilitated Activities 20.2
Contacted Directly 9.4
Personal Network 6.6
Previous Employer 3.1
Newspaper, Magazine, Job Board 1.1
Other 3.5

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