Employment Report - Class of 2008 Overview

Class of 2008 Profile¹

Number of Candidates377
U.S. Citizens70%
Non-U.S. Citizens30%
Women31%
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 2008 Employment Profile²

  Number Percent
Seeking Employment 290 76.5
Not Seeking Employment 71 18.7
     Continuing education 7 1.9
     Company sponsored or have been
     employed as student
36 9.5
     Starting own business 25 6.6
     Job search postponed 2 .5
     Other reason(s) for not seeking 1 .2
No Information Available 18 4.8
Total Graduates 379 100

² All information based on data reported by students.

Full-Time Employment Overview³

Mean Base Salary $111,184
Median Base Salary $113,000
Range of Base Salary $35,000 - $162,000

³ Full-time employment statistics based on job acceptances. 92.4% of reported acceptances included usable salary information.

Top Hirers of Class of 2008

  • McKinsey & Company (26) graduates
  • Bain & Company (11)
  • Microsoft (9)
  • BCG (7)
  • Fidelity (7)
  • Goldman Sachs (7)
  • Google (7)
  • Lehman Brothers (7)
  • Amazon.com (6)
  • JPMorgan Chase (4)

[ top ]


Salary Figures

Class of 2008 Base Salary by Industry

  Percent Mean¹ Median Range
Service Industries 78.8 $112,495 $115,000 $35,000-162,000
Consulting 30.4 122,776 125,000 82,000-140,000
Investment Banking 14.6 99,486 95,000 95,000-125,000
Software/Internet 11.9 106,328 110,000 77,000-135,000
Investment Management 8.5 112,238 115,000 85,000-142,000
Retail 4.6 113,700 110,000 95,000-162,000
VC/PE/Hedge Fund 4.2 112,000 120,000 35,000-150,000
Diversified Financial Services 1.9 98,250 115,000 70,000-115,000
Media/Entertainment 0.8 —²
Real Estate 0.4
Service/Other 1.5 104,250 110,000 90,000-127,000
Manufacturing Industries 19.0 $105,163 $105,000 $60,000-150,000
Computers/Electronics 3.9 106,850 115,000 90,000-120,000
Pharmaceutical/Healthcare/Biotechnology 3.9 101,556 100,000 87,000-110,000
Automotive/Aerospace 3.9 106,556 105,000 90,000-125,000
Telecommunications 2.7 106,714 105,000 60,000-144,000
Oil/Energy 1.9 111,800 106,000 90,000-150,000
Consumer Packaged Goods 1.2 92,500 95,000 90,000-95,000
Manufacturing: Other 1.5 101,250 110,000 80,000-120,000
Government/Nonprofit 1.5 $108,750 $110,000 $95,000-120,000
Other 0.7

¹ All salary data based on reported compensation.
² Dash indicates fewer than three people or less than 1% reported salary information.

Top Industries

      2008 2007 2006
Consulting 30.4% 37.2% 28.8%
High Technology* 18.5 13.1 16.2
Investment Banking 14.6 15.4 15.8

*Includes Computers/Electronics, Software/Internet and Telecommunications

[ top ]

Class of 2008 Base Salary by Job Function

  Percent Mean Median Range
Consulting/Strategic Planning 37.5 $120,247 $125,000 $57,500-160,000
Finance (total) 27.2 105,146 100,000 35,000-142,000

Finance/Investment Management

9.6 106,913 115,000 35,000-130,000

Finance/Investment Banking

8.1 102,000 95,000 95,000-125,000

Finance/Sales & Trading

4.6 96,094 95,000 70,000-115,037

Finance/Other¹

4.6 117,444 120,000 90,000-142,000

Finance/Research

0.3 —²
Operations/Project Management 8.4 109,364 110,000 90,000-150,000
General Management/Leadership Development Program 8.1 112,190 110,000 90,000-162,000
Marketing/Sales 8.1 95,639 100,000 60,000-118,000
Product Management/Development 5.7 105,000 106,000 90,000-120,000
Business Development 5.0 104,182 110,000 77,000-125,000

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

Top Functions

      2008 2007 2006
Consulting 37.5% 40.6% 30.6%
Finance 27.2 26.1 28.9
Operations/Project Management* 8.4 n/a 10.0

*Not a top function in 2007

[ top ]

Class of 2008 Base Salary by Geographic Location

  Percent Mean Median Range
North America 81.9 $109,808 $110,000 $57,500-162,000
Northeast¹ 47.7 109,504 110,000 60,000-150,000
Metro Boston 25.8 110,538 115,000 60,000-135,000
Metro New York 19.6 108,693 95,000 85,000-150,000
West 20.4 111,592 110,000 77,000-127,000
Mid-Atlantic 5.0 110,846 110,000 70,000-140,000
Midwest 4.6 104,875 110,000 57,500-162,000
South 1.9 101,600 103,000 95,000-110,000
Southwest 1.2 122,667 123,000 120,000-125,000
Canada 0.7 —²
Mexico 0.4
Rest of the World 18.1 $117,739 $125,000 $35,000-160,000
Europe 8.5 125,702 130,000 90,000-144,000
United Kingdom 6.2 127,536 130,000 100,000-144,000
Asia 8.5 106,158 106,000 35,000-130,000
Oceania 0.7
Latin America and the Caribbean 0.4

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

[ top ]

Class of 2008 Base Salary by Undergraduate Major

Major Percent Mean Median Range
Engineering 40.5 $113,521 $114,000 $60,000-162,000
Social Sciences & Humanities 27.2 108,418 115,000 35,000-150,000
Business 17.9 111,917 115,000 85,000-135,000
Sciences & Mathematics 14.4 109,601 110,000 78,000-144,000

[ top ]

Class of 2008 Base Salary by Professional Experience

Years Experience Percent Mean Median Range
One year or less 4.3 $112,549 $95,000 $94,000-140,000
More than one year, up to 3 years 20.6 115,400 125,000 90,000-140,000
More than 3 years, up to 5 years 41.6 108,662 125,000 57,500-160,000
More than 5 years 33.5 111,225 125,000 35,000-162,000

[ top ]

Signing Bonus Received by Job Function¹

Percentage Reporting Mean Median Range
Operations/Project Management 86.4 $21,474 $25,000 $5,000-35,000
Consulting/Strategic Planning 84.7 22,809 20,000 5,000-50,000
Finance/Sales & Trading 83.3 40,450 40,000 12,500-57,000
General Management/Leadership Development Program 81.0 21,559 20,000 10,000-45,000
Finance/Investment Banking 81.0 38,029 40,000 4,000-47,500
Marketing/Sales 52.4 23,818 20,000 3,000-50,000
Finance/Other² 41.7 24,400 25,000 15,000-30,000
Business Development 30.8 11,250 15,000 5,000-15,000
Product Management/Development 0.8 23,750 15,000 5,000-50,000
Finance/Investment Management 0.6 25,333 20,000 5,000-50,000

¹ 80.2% 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, venture capital and private equity.

Other Guaranteed Compensation

Percent Reporting Mean Median Range
22.1 $24,981 $24,500 $2,500-$100,000

[ top ]

Class of 2008 Timing of Job Offers

  At Graduation Three Months after Graduation
Percent of Students 91.4% 95.2%

Class of 2008 Timing of Job Acceptances¹

  At Graduation Three Months after Graduation
Percent of Students 79.0% 90.4%

¹ Three graduates, representing 0.8% of graduates, reneged on an accepted offer.

Class of 2008 Reason for Accepting Position

  Percent
Growth Potential 27.5
Job Content 17.7
Job Function 16.9
People/Corporate Culture 12.2
Industry 9.8
Location 5.5
Prestige of Firm 5.5
Compensation 1.6
Commitment to Sustainability 1.2
Other 2.4

[ top ]

Class of 2008 Source of Job

  Percent
School Facilitated Activities 80.9
Summer Internship 34.7
Scheduled Interviews On or Off Campus 25.6
MIT/MIT Sloan Job Posting 7.3
Faculty/CDO/Student Referral 6.5
MIT/MIT Sloan Sponsored Events 4.2
Resume Database, Resume Referral 1.5
Club Event 1.2
Student Facilitated Activities 17.6
Personal Network 8.4
Contacted Directly 5.0
Previous Employer 2.3
Newspaper, Magazine, Job Board 1.9
Other 1.5

[ top ]