MBA Class of 2011 Employment Report - Career Development Office

Employment Report - Class of 2011 Overview

Class of 2011 Profile¹

Number of Candidates	390
U.S. Citizens	61%
Non-U.S. Citizens	39%
Women	38%
Median GMAT Score	710
Median Undergraduate GPA (out of 4.0)	3.6
Average Age at Entry to MIT Sloan	28
Average Years Full-Time Work Experience Prior to MIT Sloan	5

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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