Does MIT have an MBA program? You bet it does! MIT is best known for engineering and other tech related fields, and the MIT Sloan MBA is similarly quantitatively oriented and similarly prestigious. It is tied for #5 on US News’ top 25 list for MBA programs. Read on to learn more about the Sloan MBA program.
MIT Sloan MBA Program: GMAT Scores, Acceptance Rate, and GPA
Without a doubt, MIT Sloan offers an elite, high-quality MBA. A better questions is whether it’s a good option for you personally. The best way to know how you would fit in at MIT is to look at the information in the class profile these numbers tell you how closely you resemble your potential classmates — the statistics about the most-recently accepted class of MIT MBA students.
This info can be divided into two categories. There’s admissions info– statistics that are directly related to admissions decisions and your chance of being admitted, such as undergraduate GPA or years of work experience. There’s also information about the class’ demographic composition. This info is not directly used by the admissions committee, but it can give you a feel for the shared social qualities and background of MIT Sloan students.
Check out the tables below for the MIT MBA class profile information. Unless otherwise noted, these numbers come from the Sloan MBA’s own profile page for the incoming class of 2022.
MIT MBA Acceptance Rate, Test Scores, and Average GPA
| Admission Statistic | Class of 2022 Numbers |
|---|---|
| Total enrollment | 484 |
| Acceptance rate | 14.6% |
| Median GMAT Score | 720 |
| Median GPA | 3.54 |
| Top two undergraduate degrees | Business/Econ: 35% STEM: 33% |
| Average work experience | 5 years |
The acceptance rate numbers come from U.S. News and World Report. As you can see, academic backgrounds in Science, Technology, Engineering or Math are really popular in this particular program, as are undergraduate majors in business or economics.
BONUS TABLE: Sloan MBA GMAT Score Ranges
I’d be remiss if I didn’t give you some extra info on GMAT score ranges in relation to the average GMAT score, and how they impact your application to the Sloan MBA. This is, after all, the Magoosh GMAT Blog. (Sloan does accept GRE too, and you can check out our GRE Blog and GRE prep service for support with that test.) And now, a detailed answer to the question “What is a good GMAT score for Sloan?”
| GMAT Score Range | Chances of getting into the MIT MBA program |
|---|---|
| The safe zone: 740-800. | Even on the low end of this range, you’re comfortably above the mean score of 720. Of course, this zone being “safe” assumes that your other application materials (resume, cover letter, GPA, work experience, etc…) are at or above Sloan’s averages. Remember that your test scores– and your other numbers for that matter– aren’t the only thing that get you int he door. Your resume and your values and goals, as demonstrated by you video statement, are also very important. |
| The “in the running zone”: 700-740. | Scoring in this range still definitely gives you a good chance of being accepted. But you’ll want your other numbers to be average or above average. And the things that can’t be measured so clearly by numbers– the quality of your resume, references, and personal statement, for instance, should be high quality. |
| The “pretty please?” zone: 650-700. | This places you below the average score of 720 and can potentially put you outside of the middle 80% GMAT score range of 680-760. It’s not impossible to get accepted with these kinds of GMAT scores. But to have a chance, the rest of your application should be a 9 out of 10, quality-wise. |
| The RARE exception zone: 600-650. | There will be very few exceptions made in admissions for students with a score this low. Remember in the cell above this one in this table, where I encouraged you to have an application that’s a 9 out of 10. For this lower score range, try 11 out of 10! Or better yet, consider retaking your GMAT. |
Demographic Info for the Sloan MBA
| Demographic categories | Numbers |
|---|---|
| Women | 38% |
| International students | 33% |
| U.S. minorities | 40% |
| U.S. underrepresented minorities | 19% |
| White students | 60% |
More About the MIT MBA 2022 Class Profile
First, I’d like to emphasize that the numbers above are just a quick snapshot. Sloan itself offers additional info related to academic and work background, international origins, racial identity, GRE scores, and more. I’d definitely encourage you to check out the official MIT MBA class profile page to see every detail of the “big picture.” And as you consider these demographics and where you might fit in, remember that MIT Sloan, like most top business schools, has an articulated commitment to diversity.
How to Get Into the MIT Sloan School of Management: Application Process
Let’s look at when to apply, and what to do when you apply.
The MIT MBA Application Rounds
MIT Sloan accepts MBA applications in three rounds: Round 1 (late September), Round 2 (mid-to-late January), and Round 3 (mid-April). Magoosh has an excellent guide for how you can plan your test prep and other admissions prep around this common 3-round timetable. See the “application dates” section of our GMAT Test Dates article!
Typically, the MIT MBA program will notify you of its decision in 2-3 weeks of your having applied. For more specific information you can consult MIT’s own How to Apply to the MBA Program web page.
MIT Sloan MBA Application Checklist
That admissions page I linked to immediately above also has a detailed description of the admissions materials you need to complete. Once you’re ready to apply, you’ll definitely want to check that out. But for now, here’s a quick summary checklist of the items you need to include in your Sloan MBA application:
- Online application profile (register here)
- Cover letter (300 words max, excluding the greeting and sign-off wording, no other essays are needed)
- Resume (1 page max, Times Roman, 10 point font)
- Video statement (60 seconds max, no editing, music, or special effects)
- Letter of reference (one letter from a professional reference)
- Additional references (provide MIT with the contact info for two additional references; each named reference will then be contacted by the school)
- An organizational chart (gives context to your current employment position, 2 pages max)
- Academic transcripts (for all current or past higher education study)
- Standardized test scores (GMAT or GRE)
- Relevant courses and certifications (MIT has a list of the kinds of courses and certifications you should list on their How to Apply page.)
- $250 Application fee, with fee waivers possible for:
- Veteran or active duty U.S. military personnel
- Current Teach for America members or alumni
- Current Peace Corps members
- MLT/Jumpstart MBA Prep Fellows
- Forté MBA Launch Participants
MIT Sloan MBA Curriculum
Like so many other top-tier MBA programs, the MBA at MIT focuses on required “core classes” in the first year. But they engage in this common practice with a twist or two! Most noticeably, all core classes are completed within the first semester!
With a core portion so short– and so much emphasis on electives after the core– you may ask yourself what the academic focus of such a small core could even be. The answer is that the focus is less on specific academics, and more on teamwork. During that first core semester, students engage in team-building exercises with their cohorts’ members and their smaller work teams within their cohorts. The cohorts and teams to which you’re assigned in this first semester remain constant for the remainder of the degree, so there’s a sense of group cohesion within the MIT Sloan community even after students go in their individual directions with their electives. The core courses themselves will focus on various broad aspects of management practice and on studies of more common conventional problems face by managers.
Let’s talk about those electives. Electives fill the bulk of the program after the core, team-building, first semester. A detailed description of class options (and core courses!) offered through the Sloan School of Management can be found here. Students can also take up to three additional graduate level courses from other programs outside of the Sloan School of Business, at either MIT or Harvard, including the Harvard Business school.
In addition to the core courses and electives, MIT MBA curriculum includes action learning labs. These labs provide experiential learning, partnering students with various businesses and organizations.
Moreover, the MIT MBA program offers optional tracks. These tracks allow students to add an emphasis to their coursework, if they want to. Currently, there ate three optional tracks: a finance track, an entrepreneurship & innovation track, and a track in enterprise management for innovative leaders.
Beyond the the generously varied course and track options, MIT Sloan offers a special focus on international business. Sloan’s academic courses are inherently global in nature, and there are dozens of opportunities for students to travel and study abroad. The school also has Action Labs where students tackle real problems in existing companies in the United States, China and India.
This variety of choices extends beyond just the MBA program itself. Read on to learn about a rich range of other Sloan degree options.
Other Degrees Offered, Beyond the Sloan MBA
If you’re here, there’s a good chance you came here primarily to learn about the MIT’s full-time MBA, the degree we’ve discussed so far. But you just might be curious about other options… or perhaps now that I’ve mentioned there are other options, your curiosity is suddenly piqued! Below is a quick list of the other degree programs offered at Sloan:
- Sloan MBA Dual Degree Programs (double-major, earning an MBA alongside an additional graduate degree, facilitated either by MBA or Harvard; see the dual degree section of Sloan’s MBA curriculum page for more info.)
- The MIT Executive MBA (this MIT EMBA program is for experienced managers)
- MIT Sloan Fellows MBA (a one-year accelerated MBA for mid-career professionals)
- Master of Finance
- Master of Business Analytics
- Business PhDs from MIT Sloan (Sloan offers an impressive list of different PhD programs in business)
Sloan MBA Employment Outcomes
We’ve looked a lot at how to get in to the MIT MBA program, and at what your experiences might be like once you get in. Now let’s look at what happens to Sloan MBA students after their studies. That’s right– I’m talking about employment outcomes.
Prospects for Getting a Job After Graduation
I’m happy to say that if you graduate from MIT with an MBA, your chances of getting a job offer are very high. A staggering 95.5% of Sloan MBA degree holders are offered a job within three months of graduating– a high figure even by the standards of comparably prestigious MBA programs. More than 90%, (91.1%, to be exact) of Sloan graduates also accept a job offer within 3 months of graduation.
The pay for these jobs is also first-tier. The average starting base salary is $144,140. Moreover, 79% of graduates also receive a signing bonus, with an average bonus of approximately $34,000. Of course, there’s much more to the numbers than that. For a breakdown of the industries and regions graduates are placed in, along with salary ranges by industry and region, see the full MIT Sloan MBA employment outcomes report (PDF).
As you’ll see, some incredible opportunities await those who complete the program. Although consulting and finance are common fields of hire, applicants have good prospects whether they intend to become a consultant, go into finance, or have other career goals.
Leave a Reply