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Employment Report - Class of 2009 Overview

Class of 2009 Profile¹

Number of Candidates392
U.S. Citizens64%
Non-U.S. Citizens36%
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 Global Operations program.

Class of 2009 Employment Profile²

  Number Percent
Seeking Employment 295 75.1
Not Seeking Employment 70 17.8
     Continuing education 1 .3
     Company sponsored or have been
     employed as student		 39 9.9
     Starting own business 20 5.1
     Job search postponed 6 1.5
     Other reason(s) for not seeking 4 1
No Information Available 28 7.1
Total Graduates 393 100

² All information based on data reported by students.

Full-Time Employment Overview³

Mean Base Salary $106,536
Median Base Salary $110,000
Range of Base Salary $9,000 - $165,000

³ Full-time employment statistics based on job acceptances. 92.7% of reported acceptances included usable salary information.

Top Hirers of Class of 2009

  • McKinsey & Company (24)
  • Bain & Company (10)
  • BCG (8)
  • Deloitte Consulting (7)
  • Amazon.com (6)
  • Barclays Capital (6)
  • Apple (6)
  • Microsoft Corporation (6)
  • Cisco Systems (5)
  • Fidelity Investments (5)
  • Goldman Sachs (5)
  • L.E.K. Consulting (5)
  • United Technologies Corporation (5)

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Salary Figures

Class of 2009 Base Salary by Industry

  Percent Mean¹ Median Range
Service Industries 70.3 $108,342 $110,000 $26,400-165,000
Consulting 33.2 117,698 125,000 26,400-165,000
Investment Banking 11.3 98,696 100,000 80,000-155,000
Software/Internet 10.1 103,543 110,000 50,000-127,000
Investment Management 4.9 103,636 100,000 85,000-135,000
Retail 2.8 107,857 110,000 95,000-110,000
VC/PE/Hedge Fund 2.8 79,786 100,000 50,000-100,000
Diversified Financial Services 3.2 100,800 95,000 87,600-120,000
Media/Entertainment 0.4 —² — —
Service/Other 1.6 77,667 90,000 47,000-96,000
Manufacturing Industries 26.6 $103,742 $110,000 $9,000-$135,000
Computers/Electronics 7.7 111,311 120,000 9,000-133,000
Pharmaceutical/Healthcare/Biotechnology 4.0 94,889 100,000 73,000-135,000
Automotive/Aerospace 4.5 108,182 110,000 93,000-130,000
Telecommunications 2.4 110,000 115,000 75,000-130,000
Oil/Energy 3.6 96,714 100,000 55,000-135,000
Consumer Packaged Goods 1.6 91,500 86,000 86,000-97,000
Transportation/Equipment/Defense 1.6 100,875 115,000 63,500-115,000
Manufacturing: Other 1.2
Government/Nonprofit 0.8
Other 2 $91,000 $86,000 $70,000-$93,000

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

Top Industries

      2009 2008 2007
Consulting 33.2% 30.4% 37.2%
High Technology* 20.2 18.5 13.1
Investment Banking 11.3 14.6 15.4

*Includes Computers/Electronics, Software/Internet and Telecommunications

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Class of 2009 Base Salary by Job Function

  Percent Mean Median Range
Consulting/Strategic Planning 38.6 $116,378 $125,000 $26,400-165,000
Finance (total) 19.6 97,340 95,000 50,000-155,000

Finance/Investment Management

 5.7 105,357 100,000 50,000-155,000

Finance/Investment Banking

 5.7 92,917 95,000 75,000-100,000

Finance/Sales & Trading

 4.1 94,167 95,000 80,000-100,000

Finance/Other¹

 4.1 92,325 95,000 72,000-105,000
Operations/Project Management 10.2 105,478 110,000 54,000-130,000
General Management/Leadership Development Program 9.8 102,024 108,000 63,000-130,000
Marketing/Sales 6.5 100,344 102,000 50,000-120,000
Product Management/Development 7.7 108,250 110,000 88,000-133,000
Business Development 5.7 83,179 96,000 9,000-115,000
Other 2.0 100,695 119,780 65,000-135,000

¹ Finance/Other includes corporate finance, venture capital and private equity.

Top Functions

      2009 2008 2007
Consulting/Strategic Planning 38.6% 37.5% 40.6%
Finance 19.6 27.2 26.1
Operations/Project Management* 10.2 8.4 n/a

*Not a top function in 2007

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Class of 2009 Base Salary by Geographic Location

  Percent Mean Median Range
North America 82.2 109,411 $110,000 $50,000-165,000
Northeast¹ 42.9 109,500 110,000 52,000-165,000
Metro Boston 20.2 113,806 120,000 60,000-165,000
Metro New York 16.6 105,833 100,000 52,000-165,000
West 23.9 111,805 115,000 50,000-133,000
Mid-Atlantic 3.2 96,000 97,000 75,000-125,000
Midwest 4.9 109,000 110,000 80,000-135,000
Southwest 4.5 122,667 123,000 120,000-125,000
South 1.3 117,333 115,000 110,000-127,000
Mexico 1.2 90,000 85,000 75,000-110,000
Rest of the World 17.8 $93,425 $99,000 $9,000-155,000
Europe (including UK) 6.5 105,469 100,000 63,500-155,000
United Kingdom 2.4 100,000 99,000 85,000-130,000
Asia 5.7 87,750 100,000 9,000-130,000
Latin America and the Caribbean 5.3 87,798 88,868 47,000-130,000
Africa 0.3 —² — —

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.

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Class of 2009 Base Salary by Undergraduate Major

Major Percent Mean Median Range
Engineering 49.4 $106,275 $110,000 $9,000-155,000
Social Sciences & Humanities 23.9 108,659 105,000 54,000-165,000
Business 14.6 107,148 110,000 63,000-135,000
Sciences & Mathematics 12.1 102,864 100,000 50,000-130,200

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Class of 2009 Base Salary by Professional Experience

Years Experience Percent Mean Median Range
One year or less 3.6 $95,050 $110,000 $26,400-$125,000
More than one year, up to 3 years 17.4 104,756 110,000 9,000-155,000
More than 3 years, up to 5 years 38.5 106,235 100,000 47,000-165,000
More than 5 years 40.5 95,050 110,000 50,000-135,000

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Signing Bonus Received by Job Function¹

Percentage Reporting Mean Median Range
Consulting/Strategic Planning 83.2 $22,076 $20,000 $5,000-$75,000
Finance/Other² 80.0 21,375 20,000 15,000-40,000
General Management/Leadership Development Program 79.2 21,837 20,000 8,000-40,000
Finance/Investment Banking 78.6 38,091 40,000 1,500-50,000
Marketing/Sales 68.8 20,917 20,000 6,000-45,000
Product Management/Development 68.4 27,000 20,000 10,000-50,000
Operations/Project Management 68.0 17,353 17,500 $2,500-35,000
Finance/Investment Management 64.3 40,278 40,000 20,000-50,000
Finance/Sales & Trading 50.0 42,000 45,000 25,000-50,000
Business Development 35.7 27,700 15,000 3,500-90,000

¹ 78.2% 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
24.9 $19,117 $15,000 $2,000 - $200,000

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Class of 2009 Timing of Job Offers

  At Graduation Three Months after Graduation
Percent of Students 77.6% 87.1%

Class of 2009 Timing of Job Acceptances¹

  At Graduation Three Months after Graduation
Percent of Students 69.5% 83.4%

¹ Two graduates, representing 0.5% of graduates, reneged on an accepted offer; one company rescinded its offer.

Class of 2009 Reason for Accepting Position

  Percent
Growth Potential 32.0
Job Function 16.8
Job Content 13.9
People/Corporate Culture 8.6
Industry 8.2
Compensation 5.7
Location 5.3
Prestige of Firm 5.3
Commitment to Sustainability 0.8
Other 3.4

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Class of 2009 Source of Job

  Percent
School Facilitated Activities 80.0
Summer Internship 37.8
Scheduled Interviews On or Off Campus 26.9
Alumni 6.4
MIT/MIT Sloan Job Posting 2.8
Faculty/CDO/Student Referral 2.4
Resume Database, Resume Referral 1.6
Club Event 1.3
MIT/MIT Sloan Sponsored Events 0.8
Student Facilitated Activities 17.2
Contacted Directly 7.6
Personal Network 4.0
Previous Employer 4.0
Newspaper, Magazine, Job Board 1.6
Other 2.8

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Class of 2009 Overview

MIT Sloan > Career Development Office > Employment Reports > MBA Class of 2009 Employment Report