Sloan School of Management
(MIT)
QUICK FACTS
- Location: Cambridge, MA, USA
- Program Length: 2 years
- Program Cost: $160,800
- Average GMAT score: 730
- Acceptance Rate: 12% (2021)
- Average Work Experience: 5 years
Employment Reports (2022)
- Received an Offer: 96.6%
- Accepted an Offer: 91.1%
- Median Salary: $159,391
- Median Signing Bonus: $34,000
- 70.6% receiving signing bonus
RANKINGS
- #11 Financial Times 2023 GMBA Ranking
- #4 USNews – Best Business Schools
- #8 USNews – Executive MBA
- #6 QS Global MBA Rankings 2023
CLASS OF 2024
- Total Enrollment: 408
- Women: 46%
- Average GPA: 3.62
ABOUT
Located on the East Coast along the Charles River and in the neighborhood of Boston, Massachusetts Institute of Technology boasts a impressive combination of both business and technology related studies. MIT is one of the world’s best research institutions, leading the world in tackling global challenges. With students, researchers, and alumni work together at MIT to solve some of the world’s most challenging problems. From economic development in the developing world to addressing climate change, the people at MIT are at the forefront of making a difference. Students at MIT will learn through hands-on approaches and global experiences with a focus on impact. Faculty are able to conduct innovative research while teaching and supporting their students. Upon graduation, students enter a global network of alumni who are ready and willing to support eachother as they work to achieve their career goals.
APPLICATION DEADLINES
- Round 1: September 27th, 2023
- Round 2: January 17th, 2024
- Round 3: April 8th, 2024
APPLICATION PROCESS
Cover Letter
Applicants to the MIT Sloan MBA program must submit a cover letter. The cover letter should overview how applicants plan to utilize Sloan’s opportunities to further their academic and non-academic interests.
The admissions commitee seeks students who :
- Are thoughtful leaders
- Possess intellectual abilities
- Are driven and determined
- Willing to put their mark on the world
- Redefine solutions to conventional problems
- Have integrity and respect passion
The letter must: Conform to a standard business correspondence and illustrate why applicants meet desired above criteria. Addresses to the Assistant Deans of Admissions, Rod Cargia and Dawna Levenson (Max. 300 words. excludes address and salutation).
Transcripts
Transcripts from all previously attended schools of higher education must be submitted. Applicants who are in the middle of attending an institution during their application, must provide the most up-to-date transcript possible. After an offer of submission has been extended, applicants must provide an official transcript.
GMAT or GRE
GMAT, GRE, EA scores are to be submitted in order for the admissions committee to have a more holistic understanding of the applicant. Score submissions must be reported (self-reported or otherwise) by the application deadline.
Foreign Language Requirement
A TOEFL, IELTS or Pearson Test of English (PTE) is required for those who have not attended an undergraduate institution where the sole language of instruction is English. For those who have completed a graduate degree which was taught in English, it is recommended to submit test scores, but it is not required. While there is no minimum test scores required for admission at HBS, they highly discourage applicants with test scores lower than 109 on TOEFL IBT, 7.5 on IELTS or 75 on PTE from applying.
1 Recommendation & 2 References
One letter of recommendation is required for the application. Recommenders should be able to address the profesional capabilities of the applicants. Responses can be submitted as a letter or short answer format. Family member recommendations are not accepted.
Recommenders should be able to answer the following:
- Describe the applicant’s role in the organization (50 words)
- Describe the performance of the applicant (500 words)
- Provide constructive feedback given to the applicant (500 words)
- Additional information (optional)
- 2 additional references are also required for the application. Names and phone and email of the reference must be provided. References must speak to the applicants professional and academic capabilities.
Short Answer Description (optional)
Applicants are invited answer an optional 250 word short answer question:
How has the world you come from shaped who you are today? For example, your family, culture, community, all help to shape aspects of your life experiences and perspective. Please use this opportunity if you would like to share more about your background.
Organizational Chart
Applicants should submit an organizational chart, no longer than 2 pages. This will help the MIT admissions team better understand the impact of the applicant on their current team and department
Resume
The resume for the applications cannot be longer than 1 page. Formatting must be the following: 1 page limit, Times New Roman font, Size 10 font, Word or PDF format, redact (remove or black out) name, address and contact information, list information on the resume in chronological order.
Include: Education, work experience, additional information (ie languages and work experience, skills, certificates)
Video Statement
Applicants must submit a 1 minute video in order to introduce themselves. Applicants should discuss why MIT Sloan is the optimal MBA program to achieve their professional and academic goals.
Videos must be in the following format: not longer than 1 minute in length, single take (no edits), address the camera directly, no background music or subtitles.
Application Fee
An application fee of $250 is due when application is submitted. The fee is non-refundable and can be paid via credit card.
PROGRAM STRENGTHS
Alumni Advisors Hub
New incoming MBA students have access to MIT Sloan alumni to help them excel in the MBA program. The MIT Alumni Advisors Hub takes place through and online platform and offers current and former students a chance to participate in one-on-one conversations to build connections and glean advice. Alumni can support students through mock interviews, reviewing resumes, providing information. This opportunity strengthens networks and has a positive and lasting impact on Sloan’s communiyty.
STUDENT LIFE
Student life at MIT Sloan means having access to a large alumni network, building lasting relationships, and participating in student run events and clubs. Sloan creates a student ennironment that is diverse and supportive. Sloan emphasises an environment of Care, Contribution, and Community allowing students the chance to embrace their time at MIT Sloan. Students have access to the Student Life Staff to help them navigate their student experience.
MBA PROGRAM OVERVIEW
At MIT Sloan ‘ideas are made to matter’. Finding a way to have an impact on the world is integral to the Sloan experience. Whether full-time MBA students are driven by the desire to solve social problems or hoping to start a new company, MIT Sloan’s mission to is support their students as they embark on their MBA journey.
Students can learn how to best enter the career world by utilizing MIT Sloan’s Career Core program. Students have access to one-on-on career coaching, faculty who are at the forefront of their fields, club events and company presentations.
The full-time MBA program at MIT Sloan is a two year program with 144 unites of electives needed to be completed. Students graduate into a world filled with over 136,000 MIT alumni from over 90 countries. To help with the MBA experience, incoming students are matched with alumni mentors who can give advice and share their personal experience.
After graduating from MIT with an MBA, students will find their degree opens up a world of opportunities around the globe. For international students, the qualification of MIT’s MBA Program as a STEM-designated program means that they are allowed to extend their stay in the U.S. by 24 months.
First Year
The full-time MBA program at MIT Sloan begins with the Core Semester. In conjunction with their peers, incoming students participate in classes meant to set them up for success in the program.
Students are maticulously grouped into cohorts, all of which are comprised of individuals from unique backgrounds and interests. As per tradition, each cohort is subsequently names after a body of water: Atlantic, Baltic, Caribbean, Indian, Mediterranean, and Pacific.
Smaller teams are then made from within each cohort. These teams attend the Core Semester classes together so that they can build the necessary strong and supportive community.
Once students have completed the first semester of their program, they can select elective courses in order to customize their academic journey.
Fall Semester
- Economic Analysis for Business Decisions
- Data, Models, and Decisions
- Communication for Leaders
- Organizational Processes
- Financial Accounting
Spring Semester
Optional core electives:
- Managerial Finance
- Intro to Operations Management
- Competitive Strategy
- Marketing Innovation
Second Year
During the last three semesters, students need to complete 144 units of electives. There is also an option to take 3 approved, non-MIT Sloan graduate-level MIT or Harvard Subjects. Students are welcome to write a final thesis during their second year. Students can choose amongst three different tracks to help them narrow their scope of interest. These include:
- Finance Track
- Entrepreneurship & Innovation Track
- Enterprise Management Track
Students can also earn certificates in a smore specific area of focus. These certificates are open to all MIT master-level students.
Grading Scale
FEATURED PROFESSORS
Robert C. Merton
Robert C. Merton is the MIT Sloan School of Management Distinguished Professor of Finance. Merton earned his PhD in Economics from MIT in 1970 and has worked at Harvard Business School as the George Fisher Baker Professor of Business Administration and the John and Natty McArthur University Professor.
In 1997, Merton received the Alfred Nobel Memorial Prize in Economic Sciences for his work on the methodology to determine the value of derivatives. In addition, Merton is the recipient of numerous awards, including: The Inaugural Financial Engineer of the Year Award from the International Association for Quatitative Finance, the 2011 CME Group Melamed–Arditti Innovation Award, and the 2013 WFE Award for Excellence from the World Federation of Exchanges.
Merton conducts his research on finance theory including focusing on lifecycle and retirement finance, optimal portfolio selection captial asset pricing.
Deborah J. Lucas
Currently, Deborah J. Lucas is the Sloan Distinguished Professor of Finance. She received her BA, MA and PhD in Economics from the University of Chicago.
Her research interests are on the development and application of financial economics in the evaluation of the costs and risks of governments’ finacial activities.
She has been published multiple times and as worked professionally as the chief economist and the assistant and associate director at the U.S. congressional Budget Office. She is currently a member of the National Academy of Public Administration and the National Academy of Social Insurance.