MIT_MBA_EMPLOYMENT_REPORT_2011

O ff ic e C ar ee r D ev el o p m en t From the Director 2 Hiring Companies 3 Class of 2011 Profile 4 Salaries 5 Class of 2012 Profile 8 Salaries 9 Contacts 12 CLICK ANY ITEM MBA Employment Report 2011|2012 MIT Sloan From the Director With your support our graduates and students secured interesting, diverse, and rewarding opportunities this past year. We remain grateful to our recruiting partners, alumni, faculty, and friends, for your ongoing support of the School, especially during these challenging economic times. We are extremely pleased that the number and diversity of opportunities available to our graduates and students remain strong. We are committed to connecting students with a diversity of opportunities — resulting in approximately 75% of graduates finding full-time work through the School. Our personalized approach to meeting the needs of the wide variety of firms that recruit MIT Sloan students and graduates ensures you will receive the attention you desire from MIT Sloan. Our goal is to be the school of choice for MBA hirers, and we are committed to making your recruiting experience both positive and productive. Whether you are looking to hire one summer intern or ten full-time employees, hiring an MIT Sloan MBA for your organization is always a great investment. Thank you for your support of the MIT Sloan School of Management. Sincerely, Sue Kline Acting Director Career Development Office Accuracy in Reporting Employment Statistics The MIT Sloan School of Management adheres to the MBA Career Services Council (MBA CSC) Standards for Reporting MBA Employment Statistics (mbacsc.org). Conformance to this business school industry standard ensures accurate and comparable employment data. Currently, the majority of the leading MBA programs adhere to these accepted reporting standards. MIT Sloan takes a leadership role to promote the importance of accurate and comparable employment and salary statistics to prospective students and employers. 2011 2012 360Chestnut 3M* A.T. Kearney Accel Partners Accenture Acciona Energy Adobe Systems Advent International Aetna AIG (American International Group, Inc.) Altman Vilandrie & Company Amazon* American Airlines American Express Company Amgen* Analysis Group AOL Apple Arcadia Solutions Arthur D. Little Asian Development Bank athenahealth Audible B Lab Bain & Company Bain Capital Banco Santander Bank of America Merrill Lynch Bank of Tokyo- Mitsubishi UFJ Barclays Capital Barclays Capital Asia Ltd. Baring Private Equity Asia Bayer Bechtel Enterprises Bessemer Venture Partners Biogen Idec Black Coral Capital The Blackstone Group BNP Paribas Boeing* Booz & Company Boston Company Boston Consulting Group BP Brattle Group Bridgewater Associates Burger King CA Technologies Capital One Carbon Recycling International Celfin Capital Censeo Consulting Group Charles River Associates Chartis Group Cisco Systems* Citi Coach Cornerstone Research Corning Credit Suisse CSMG Global Cummins Dalberg — Global Development Advisors Dell* Deloitte Consulting Deutsche Bank Diageo Duff & Phelps, LLC DuPont Eaton Vance Investment Managers eBay EDF Climate Corps Education Pioneers Eli Lilly and Company EnerNOC Ermenegildo Zegna ExxonMobil Facebook Far East Organization Fidelity International Limited Fidelity Investments FSG Social Impact Advisors General Electric General Motors* Genzyme* Goldman Sachs Google Groupon GSR Ventures Gucci Harris Williams Helion Venture Partners HSBC HubSpot IBM IDEO IDEXX Laboratories Infosys Consulting Infosys Technologies Limited Infotrieve Innosight Innovation Center for U.S. Dairy InsightSquared Intel* International Finance Corporation ITA Software Jefferies & Company Johnson & Johnson JPMorgan Chase Kettle Cuisine Koch Industries L.E.K. Consulting LAN Airlines Lark Technologies Liberty Mutual Macquarie Group MasterCard Worldwide McKinsey & Company MedImmune Medtronic Merck & Co. Microsoft Millennium Pharmaceuticals MocoSpace Monitor Group Morgan Stanley Movoto, LLC Mubadala Development Company National Basketball Association National Hockey League Navigant Consulting Nike Nokia* Oak Investment Partners OC&C Strategy Consultants OCP Group OmniGuide PA Consulting Group Parametric Technology Parthenon Group Philips PHOTON Consulting PIMCO PricewaterhouseCoopers Putnam Associates QGEN Qiming Venture Partners Raytheon* RealNetworks Rhythmia Medical Robert W. Baird & Co. Roland Berger Strategy Consultants Salesforce.com Sambreel Holdings LLC Samsung Global Strategy Group Samsung Mobile Sealed Air Sears Holdings Siemens AG Smith & Nephew Sovereign Bank/Banco Santander Synthetic Genomics T. Rowe Price Telsey Advisory Group Tencent Technology Thomson Reuters TIAX LLC Transparent Language Travelers TripAdvisor UBS Union Pacific Railroad Company United States Department of Energy UPS Supply Chain Solutions Vale Visa VMWare Walt Disney Company Wellington Management Company Women’s World Banking The World Bank XL Hybrids Zynga Employers Hiring Members of the Classes of 2011 and 2012 *LGO Partner during 2010–11 academic year Bold red = Employers hiring three or more MIT Sloan MBA students for full-time and/or summer positions MIT Sloan MBA 2011–2012 Employment Report Page 4 Top Hirers of Class of 2011 McKinsey & Company 27 graduates BCG 16 Bain & Company 12 Google 10 Microsoft 7 Deloitte Consulting 6 Amgen 5 Barclays Capital 5 Cisco Systems 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. 2. All information based on data reported by students. 3. Full-time employment statistics based on job acceptances. 85.7% of reported acceptances included usable salary information MIT Sloan MBA Class of 20111 Class Profile 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 of Full-Time Work Experience Prior to MIT Sloan 5 Class of 2011 Employment Profile2 Number % 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 390 100.0 Full-Time Employment Overview3 Mean Base Salary $115,355 Median Base Salary $119,000 Range of Base Salary $26,250 – 215,000 MIT Sloan MBA 2011–2012 Employment Report Page 5 Top Industries Consulting Investment Banking High Technology* * Includes Computers/Electronics, Software/Internet and Telecommunications 200920102011 2 8 .2 11 .4 2 0 .0 3 3 .2 11 .3 2 0 .2 3 3 .7 8 .4 19 .8 Top Functions Consulting/Strategic Planning Finance Operations/Project Management Marketing/Sales* * Not a top function in 2010 and 2009 200920102011 3 4 .5 2 1. 5 1 0 .3 n /a 3 8 .8 18 .3 8 .8 15 .0 3 8 .6 19 .5 1 0 .2 n /a Class of 2011 Base Salary by Industry PERCENT MEAN1 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 —1 — — Telecommunications 1.1 — — — Government/Nonprofit 2.5 104,959 105,602 65,000 –150,000 1. Dash indicates fewer than three people or less than 1% reported salary information. 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 92,667 88,000 70,000–120,000 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/Sales 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/ Leadership Development Program 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 —1 — — 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. MIT Sloan MBA 2011–2012 Employment Report Page 6 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 4.0 112,920 115,000 81,204 –135,000 U.S. Possessions and Territories 0.7 —2 — — Canada 0.7 — — — Mexico 0.4 — — — Rest of 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. Class of 2011 Base Salary by Undergraduate Major MAJOR PERCENT MEAN MEDIAN RANGE Business 18.4 115,857 $120,000 $88,000–150,000 Social Science & 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 Class of 2011 Base Salary by Professional Experience YEARS OF EXPERIENCE PERCENT MEAN MEDIAN RANGE One year or less 0.4 —1 — — More than one year, up to 3 years 15.0 $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 1. Dash indicates fewer than three people or less than 1% reported salary information. MIT Sloan MBA 2011–2012 Employment Report Page 7 Signing Bonus Received by Job Function 1 PERCENT REPORTING 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 function. 2. Finance: Other includes corporate finance. 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 Class of 2011 Timing of Job Offers (percent of students) At Graduation 88.7% Three Months after Graduation 95.9% Class of 2011 Timing of Job Acceptances (percent of students) At Graduation 80.8% Three Months after Graduation 93.5% Class of 2011 Reason for Accepting Position 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% Class of 2011 Source of Job School-Facilitated Activities 77.3% Scheduled Interviews On or Off Campus 32.2% Summer Internship 26.7% MIT/MIT Sloan Job Posting 4.8% MIT/MIT Sloan Sponsored Event 3.7% Alumni 3.3% Faculty/CDO/Student Referral 3.3% Resume Database, Resume Referral 1.8% Club Event 1.5% Student-Facilitated Activities 20.9% Personal Network 10.3% Contacted Directly 6.6% Previous Employer 2.6% Newspaper, Magazine, Job Board 1.5% Other 1.8 MIT Sloan MBA 2011–2012 Employment Report Page 8 1. Class profile includes information for MBA students and students in the joint MBA/Leaders for Global Operations program. 2. All information based on data reported by students. 3. Summer employment statistics based on job acceptances. 76.0% of reported acceptances included usable salary information. MIT Sloan MBA Class of 2012 1 Class Profile Number of Candidates 410 U.S. Citizens 65% Non-U.S. Citizens 35% Women 35% Median GMAT Score 717 Median Undergraduate GPA (out of 4.0) 3.5 Average Age at Entry to MIT Sloan 28 Average Years of Full-Time Work Experience Prior to MIT Sloan 5 Summer Employment Profile2 Number % Seeking Employment 313 76.3 Not Seeking Employment 67 16.4 Leaders for Global Operations 48 11.7 Company sponsored or have been employed as student 8 2.0 Starting own business 8 2.0 Other reason(s) for not seeking 3 0.7 No Information Available 30 7.3 Total Graduates 410 100.0 Summer Employment Overview3 Mean Monthly Base Salary $7,255 Median Monthly Base Salary $8,000 Range of Monthly Base Salary $1,000–$12,000 Top Intern Hirers McKinsey & Company 15 interns Bain & Company 12 BCG 12 Google 12 Goldman Sachs 10 Credit Suisse 7 Amazon.com 6 Apple 6 Citi 6 MIT Sloan MBA 2011–2012 Employment Report Page 9 Top Industries Consulting Investment Banking High Technology* * Includes Computers/Electronics, Software/Internet and Telecommunications 200920102011 17 .2 8 .4 18 .9 8 2 1. 5 17 .1 16 .8 18 .9 10 .7 14 .5 11 .0 Top Functions Finance Consulting/Strategic Planning Marketing/Sales 200920102011 2 2 .0 2 9 .6 14 .2 2 5 .9 2 8 .0 12 .7 3 2 .7 2 9 .9 14 .4 Class of 2012 Monthly Salary by Industry PERCENT MEAN1 MEDIAN RANGE Service Industries 77.9 $7,690 $8,300 $1,000 –12,000 Consulting 21.5 9,633 10,400 2,500 –12,000 Investment Banking / Brokerage 17.1 7,981 8,333 1,950 –11,000 Software/Internet 13.7 6,565 7,000 1,000 –11,000 Retail 6.9 7,208 8,000 2,000 – 9,834 Investment Management 5.0 8,591 8,000 8,000 –11,153 Diversified Financial Services 3.1 5,858 6,500 2,100 – 8,333 VC/Hedge Fund/Private Equity 6.6 4,347 3,000 1,000 –10,000 Media/Entertainment 2.8 3,895 3,450 2,000 – 6,400 Real Estate 1.2 6,000 6,000 6,000 – 6,000 Manufacturing Industries 16.8 6,201 6,900 1,000 – 9,200 Pharmaceutical/Healthcare/ Biotechnology 5.0 6,334 6,900 1,665 – 8,000 Manufacturing: Other 3.1 6,841 7,200 5,140 – 8,000 Oil/Energy 2.8 4,550 3,100 1,000 – 9,200 Computers/Electronics 2.8 7,362 7,097 6,400 – 8,800 Consumer Products 1.6 5,700 5,500 4,800 – 7,000 Transportation/Equipment/ Defense 0.9 — 1 — — Automotive/Aerospace 0.3 — — — Telecommunications 0.3 — — — Government/Nonprofit 4.6 3,809 3,583 2,800 – 5,200 Other 0.7 — — — 1. Dash indicates fewer than three people or less than 1% reported salary information. Class of 2012 Monthly Salary by Job Function PERCENT MEAN MEDIAN RANGE Finance (total) 32.7 $7,290 $8,300 $1,000 –11,153 Finance: Investment Banking 13.1 8,160 8,333 1,950 – 11,000 Finance: Investment Management 5.9 6,626 8,000 2,000 – 9,500 Finance: Research 4.7 5,850 5,000 1,000 –11,153 Finance: Sales & Trading 1.6 8,833 8,667 8,000 –10,000 Finance: Other1 7.4 5,537 6,000 1,000 –10,000 Consulting/Strategic Planning 29.9 8,666 10,000 2,000 – 12,000 Marketing/Sales 14.4 5,962 6,666 1,000 –11,000 Business Development 7.5 6,064 6,800 1,500 –10,000 General Management/ Leadership Development Program 5.6 5,576 6,400 1,665 – 9,833 Operations/Project Management 4.7 6,625 7,250 2,500 – 8,000 Product Management/ Development 3.4 7,212 7,900 3,400 – 10,000 Information Technology 0.3 —2 — — Real Estate 0.3 — — — Other 1.2 — — — 1. Finance: Other includes corporate finance, venture capital and private equity. 2. Dash indicates fewer than three people or less than 1% reported salary information. MIT Sloan MBA 2011–2012 Employment Report Page 10 Class of 2012 Monthly Salary by Geographic Location PERCENT MEAN MEDIAN RANGE North America 75.7 $7,900 $7,850 $1,500 –11,267 Northeast1 44.6 7,058 7,750 1,950 –11,267 Metro Boston 22.6 7,195 7,500 2,000 –11,267 Metro NY 16.7 6,920 8,000 1,950 –10,800 West 17.6 7,434 7,600 1,500 –11,000 Midwest 4.6 7,206 7,300 3,000 – 9,834 Mid-Atlantic 4.0 7,198 8,000 3,200 –10,500 Southwest 2.5 9,129 9,200 7,800 –10,500 South 0.6 —2 — — Canada 0.3 — — — Mexico 1.5 7,660 10,500 2,800 –11,000 Rest of the World 24.3 7,305 8,600 1,000 12,000 Asia 12.9 7,120 8,657 1,000 –11,000 Europe including UK 4.4 7,573 9,000 1,000 –12,000 United Kingdom 0.9 — — — Latin America & the Caribbean 4.1 9,756 10,500 8,000 –11,000 Middle East 1.3 — — — Africa 1.2 — — — Oceania 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. Class of 2012 Monthly Salary by Undergraduate Major MAJOR PERCENT MEAN MEDIAN RANGE Engineering 35.4 7,735 8,000 1,000 – 12,000 Social Science & Humanities 31.5 6,976 7,500 1,000 – 11,000 Business 23.4 6,933 $7,000 1,000 – 11,153 Sciences & Mathematics 9.7 7,322 7,750 2,000 – 11,250 Class of 2012 Monthly Salary by Professional Experience YEARS EXPERIENCE PERCENT MEAN MEDIAN RANGE One year or less 1.3 $4,000 $4,000 $1,000 – 7,000 More than one year, up to 3 years 8.6 7,595 8,000 2,000 – 11,267 More than 3 years, up to 5 years 47.6 7,034 8,000 1,000 – 12,000 More than 5 years 42.5 7,528 8,000 1,000 – 11,153 MIT Sloan MBA 2011–2012 Employment Report Page 11 Class of 2012 Reason for Accepting Position Industry 27.8% Job Function 19.7% Job Content 17.6% Growth Potential 10.8% Prestige of Firm 9.5% People/Corporate Culture 4.7% Location 4.4% Commitment to Sustainability 2.7% Compensation 1.7% Other 1.0% Class of 2012 Source of Job School-Facilitated Activities 75.7% Scheduled Interviews On or Off Campus 47.4% MIT/MIT Sloan Job Posting 12.2% MIT/MIT Sloan Sponsored Event 5.6% Faculty/CDO/Student Referral 4.4% Alumni 3.1% Club Event 1.2% Entrepreneurship Center / Sustainability Lab 1.2% Resume Database, Resume Referral 0.6% Student-Facilitated Acti