Employment Report - Class of 2011 Overview

Class of 2011 Profile¹

Number of Candidates390
U.S. Citizens61%
Non-U.S. Citizens39%
Women38%
Median GMAT Score710
Median Undergraduate GPA (out of 4.0)3.6
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 2011 Employment Profile²

  Number Percent
Seeking Employment 291 74.6
Not Seeking Employment 81 20.8
     Continuing education 9 2.3
     Company sponsored or have been
     employed as student
36 9.2
     Starting own business 32 8.2
     Other reason(s) for not seeking 4 1.0
No Information Available 18 4.6
Total Graduates 390 100

² All information based on data reported by students.

Employment Overview³

Mean Base Salary $115,355
Median Base Salary $119,000
Range of Base Salary4 $26,200–$215,000

³ Full-time employment statistics based on job acceptances. 85.7% of reported acceptances included usable salary information.

Top Intern Hirers of Class of 2011

  • McKinsey & Company (27)
  • Boston Consulting Group (16)
  • Bain & Company (12)
  • Google (10)
  • Microsoft Corporation (7)
  • Deloitte Consulting (6)
  • Amgen (5)
  • Barclays Capital (5)
  • Cisco Systems (5)

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Salary Figures

Class of 2011 Base Salary by Industry

  Percent Mean Median Range
Service Industries 73.7 $116,667 $120,000 $26,250–215,000
Consulting 33.7 125,709 125,000 100,000–157,000
Software/Internet 14.7 113,691 110,000 75,000–150,000
Investment Banking 8.4 100,903 100,000 70,000–146,250
Diversified Financial Services 4.4 $99,500 $98,500 70,000–125,000
Investment Management 4.4 $105,500 $102,500 70,000–125,000
Retail 4.0 $111,455 $110,000 100,000–125,000
VC/Hedge Fund/Private Equity 2.6 $124,250 $125,000 26,250–215,000
Media/Entertainment 1.5 $110,000 $105,000 100,000–130,000
Manufacturing Industries 23.8 $108,000 $107,000 $82,500–160,000
Pharmaceutical/Healthcare/Biotechnology 8.1 $107,275 $110,000 85,000–127,000
Computers/Electronics 4.0 $109,820 $109,500 82,500–130,000
Oil/Energy 3.3 $119,778 $120,000 100,000–145,000
Manufacturing: Other 2.9 $108,000 $107,000 90,000–133,000
Automotive/Aerospace 1.8 $102,000 $100,000 95,000–110,000
Transportation/Equipment/Defense 1.5 $133,250 $132,500 108,000–160,000
Consumer Products 1.1 —²
Telecommunications 1.1
Government/Nonprofit 2.5 104,959 105,602 65,000-150,000

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

Top Industries

      2011 2010 2009
Consulting 33.70% 28.20% 33.20%
Investment Banking 8.4 11.4 111.3
High Technology* 19.8 20.0 20.2

*Includes Computers/Electronics, Software/Internet and Telecommunications

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Class of 2011 Base Salary by Job Function

  Percent Mean Median Range
Consulting/Strategic Planning 38.8% $123,876 $125,000 80,000–157,000
Finance (total) 18.3 103,847 100,000 26,250–150,000

Finance/Investment Banking

5.9 103,854 100,000 100,000–146,250

Finance: Investment Management

4.4 104,868 100,000 70,000–130,000

Finance: Research

2.2 —¹

Finance/Sales & Trading

1.8 100,000 100,000 100,000–100,000

Finance: Other²

4.0 108,028 110,000 26,250–150,000
Marketing 15.0 107,456 104,000 75,000–145,000
Operations/Project Management 8.8 118,770 115,000 104,000–150,000
General Management 7.7 117,225 110,000 65,000–215,000
Business Development 5.9 112,305 110,000 86,665–135,000
Product Management/Development 3.3 112,125 110,000 93,000–140,000
Human Resources 0.7
Real Estate 0.4
Other 1.1 108,735 120,000 81,204–125,000

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

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

Top Functions

      2011 2010 2009
Consulting/Strategic Planning 38.80% 34.50% 38.60%
Finance 18.3 21.5 19.5
Operations/Project Management 8.8 10.3 10.2
Marketing 15.0 —¹

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Class of 2011 Base Salary by Geographic Location

  Percent Mean Median Range
North America 82.4 $115,819 $120,000 $65,000–160,000
Northeast¹ 45.4 $114,668 $120,000 65,000–150,000
Metro Boston 22.7 $119,880 $125,000 70,000–150,000
Metro NY 16.1 $107,865 $100,000 65,000–150,000
West 14.7 $113,894 $110,000 93,000–150,000
Midwest 6.2 $119,313 $122,500 103,000–135,000
Southwest 5.5 $120,933 $125,000 95,000–135,000
South 4.8 $120,727 $120,000 100,000–160,000
Mid-Atlantic 4 $112,920 $115,000 81,204–135,000
U.S. Possessions and Territories 0.7 —²
Canada 0.7
Mexico 0.4
Rest of the World 17.6 $112,717 $111,000 $26,250–215,000
Asia 9.9 105,439 105,000 70,000–146,250
Europe including UK 4.4 121,762 120,000 90,000–157,000
United Kingdom 0.7
Latin America and the Caribbean 2.9 116,375 116,500 26,250–215,000
Africa 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.

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Class of 2011 Base Salary by Undergraduate Major

Major Percent Mean Median Range
Business 18.4 $115,857 $12,000 $88,000–150,000
Social Sciences & Humanities 27.6 109,154 112,000 $26,250–154,000
Engineering 44.6 118,181 120,000 70,000–215,000
Sciences & Mathematics 9.4 111,333 115,000 70,000–135,000

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Class of 2011 Base Salary by Professional Experience

Years Experience Percent Mean Median Range
One year or less 0.4
More than one year, up to 3 years 15 $116,044 $120,000 $65,000–157,000
More than 3 years, up to 5 years 40.3 115,489 111,000 70,000–215,000
More than 5 years 44.3 114,914 118,000 26,250–154,000

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Signing Bonus Received by Job Function¹

Job Function Percent Mean Median Range
Consulting 72.6% $22,304 $20,000 $8,000–50,000
General Management 71.4 $24,200 $20,000 10,000–43,000
Operations/Project Management 70.8 $22,529 $20,000 9,000–60,000
Finance: Investment Management 66.7 $35,250 $40,000 10,000–55,000
Other 66.7 $15,000 $15,000 15,000–15,000
Finance: Other² 62.5 $17,800 $15,000 4,000–30,000
Marketing/Sales 58.5 $14,438 $10,500 5,000–35,000
Finance: Investment Banking 56.3 $43,333 $40,000 40,000–50,000
Business Development 50.0 $23,250 $27,500 5,000–33,000
Human Resources 50.0 —³
Product Management/Development 44.4 $27,500 $25,000 10,000–50,000
Finance: Sales & Trading 40.0 $45,000 $45,000 40,000–50,000
Finance: Analyst / Research 25.0 $25,000 $25,000 25,000–25,000

¹ 73.9% 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.

³ Dash indicates fewer than three people or less than 1% reported bonus information.

Other Guaranteed Compensation

Percent Reporting Mean Median Range
28.3 $26,650 $20,000 $2,500–$250,000

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Class of 2011 Timing of Job Offers

  At Graduation Three Months after Graduation
Percent of Students 88.70% 95.90%

Class of 2011 Timing of Job Acceptances¹

  At Graduation Three Months after Graduation
Percent of Students 80.80% 93.50%

Class of 2011 Reason for Accepting Position

  Percent
Growth Potential 27.8%
Job Function 19.4
Job Content 19.0
Industry 11.4
People/Corporate Culture 8.4
Location 6.6
Prestige of Firm 2.9
Compensation 1.8
Commitment to Sustainability 1.5
Other 1.1

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Class of 2011 Source of Job

  Percent
School-Facilitated Activities 77.3
Scheduled interviews on and off Campus 32.2%
Summer Internship 26.7
MIT/MIT Sloan job posting 4.8
MIT/Sloan sponsored events 3.7
Alumni 3.3
Faculty/CDO/Sloan student referral 3.3
Résumé Database, Résumé Referral 1.8
Club event 1.5
Student-Facilitated Activities 20.9
Family, friends, other non-MIT or MIT Sloan connection 10.3
Contacted directly 6.6
Previous Employer employer (before attending MIT Sloan) 2.6
Newspaper, magazine, internet job boards 1.5
Other 1.8

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