Consulting, finance, technology lead high MIT Sloan graduate job numbers
February 28, 2012
Despite a challenging economy, MIT Sloan’s MBA graduates last year secured jobs at some of the world’s top consulting, finance, and high-technology companies, with many reaching top starting salaries, according to the MIT Sloan 2011-2012 MBA Employment Report [PDF].
MIT Sloan MBA graduates joined companies such as McKinsey & Co., Boston Consulting Group, and Google Inc., taking jobs in North America, Asia, and Europe.
Across all companies, those graduates received an average annual base salary of $115,355.
The majority of those jobs, 77 percent, were the result of School-facilitated activities, such as scheduled interviews or summer internships, while 21 percent came as the result of student-facilitated activities, such as personal networks or direct contact.
And 8 percent of graduates started their own businesses, a testament to the strong culture of entrepreneurship at the School.
The MIT Sloan MBA Class of 2011 had 390 graduates.
McKinsey & Co. led all employers of the Class of 2011 with 27 hires. Next was Boston Consulting Group with 16, Bain & Co. with 12, and Google with 10. Other top employers included Microsoft with seven, Deloitte Consulting with six, and Amgen with five.
The vast majority of graduates, 88.7 percent, had a job offer at graduation, while 95.9 percent had an offer within three months.
More than 80 percent of the jobs were concentrated in North America, with most of those in Boston and New York, and on the West Coast. The remaining posts were in Asia and Europe.
Jobs came with annual base salaries ranging from $26,250 to $215,000. The average base was $115,355, while the median base was $119,000.
Almost three-quarters, 73.7 percent, of MIT Sloan MBA alumni accepted positions in service industries, such as consulting, investment banking, and technology. Consulting accounted for 33.7 percent of graduates. Software and Internet jobs followed at 14.7 percent and investment banking accounted for 8.4 percent.
Manufacturing industries, which include industries such as pharmaceuticals and biotech, comprised 23.8 percent of jobs taken by the Class of 2011.
Government and nonprofit jobs made up the remaining 2.5 percent of positions for the class.
Of the graduating class of MBA students, about 9 percent were company-sponsored or employed as students, and just over 2 percent opted to continue their educations.
The one-year MIT Sloan Master of Finance program also reported successes in the Master of Finance Employment Report—Class of 2011 [PDF].
M.Fin. graduates joined firms in investment banking, consulting, investment management, diversified financial services, trading, commercial banking, and software. The majority accepted analyst-level positions.
BlackRock, Cambridge Associates, Citigroup, Deloitte Consulting, and Morgan Stanley were among the firms hiring two or more MIT Sloan graduates from the program.
Graduates did not have to wait long for jobs—91.5 percent received an offer within three months of graduation, while 85 percent had an offer by graduation.
More than half of these positions, 51.4 percent, came as the result of School-facilitated activities.
In 2011, the M.Fin. program graduated 57 students.