Sloan School of Management – MIT
MIT Sloan Full-Time MBA Program Structure
The MIT Sloan Full-Time MBA follows a traditional two-year, fall and spring semester schedule. At the midpoint of each semester, students take a week-long break from their courses and engage in an intensive experiential learning opportunity called Sloan Innovation Period (SIP). SIP activities include lectures from faculty, students and guests that discuss a broader range of topics than typically covered during the semester. Students engaged in Action Learning courses, which integrate classroom theory into real-world experiences, often use the SIP break to travel to visit host companies. Additionally, over winter break Sloan hosts an Independent Activities Period (IAP), a four-week program that allows students to take courses or travel abroad to complete the more in-depth component of Action Learning engagements like Sloan’s G-Lab and L-Lab programs.
MIT Sloan Full-Time MBA students take five required core courses: Economic Analysis for Business Decisions; Data, Models and Decisions; Communication for Leaders; Organizational Processes; and Financial Accounting. This required core curriculum is all squeezed into the first semester, freeing up three full semesters for students to take electives and giving them a significant degree of academic flexibility. Students must complete a minimum of 144 elective credits to graduate, with each elective course representing between three and twelve credit units.
MIT Sloan gives its full-time students the option of pursuing one of three MBA Tracks, in Enterprise Management, Entrepreneurship & Innovation, and Finance. Students must complete a set number of required and elective courses to receive Track certifications. Additionally, students can earn a Certificate in Sustainability by taking five required sustainability courses and two designated sustainability electives.
The MIT Sloan Full-Time MBA program has more than 400 enrolled in the most recently enrolled class, 41% of whom are women. Roughly 38% of students in the class are international.
For the full-time Class of 2016, the latest class for which detailed academic data was available, the average GMAT score was 713, with the middle 80% of students scoring between 660 and 760. Students in the class have accrued an average of five years of work experience prior to matriculating.
The Career Development Office (CDO) offers a range of resources and services to MIT Sloan Full-Time MBA students. In fact, career preparation is built into Sloan’s first-year required core curriculum. A mandatory “Career Core” course is run in conjunction with CDO staff, covering essential career-related communication skills like interviewing, negotiating and networking.
Outside of the Career Core, CDO resources include individual career counseling and resume reviews, self-assessment tools, and seminars to help students polish their communication and interviewing skills. Additionally, the CDO hosts multiple company presentations and career fairs throughout the year. Sloan’s CDO estimates that 60% of Sloan students use their services to obtain employment post-MBA.
For the graduated Class of 2014, 86% of students had received employment offers at the time of graduation, and 95% had received offers within three months of graduation. The mean base -starting salary for this class was $121,277. Approximately 37% of this class entered careers in consulting, 14% entered careers in finance, and 11% entered careers in operations and project management.
Tuition & Financial Aid
Tuition for MIT Sloan’s Full-Time program for the 2016-17 school year is $68,250. Additionally, the school anticipates that students will pay roughly $2,200 for books and supplies, $2,000 for a computer, $4,894 for food, $5,580 for personal expenses including medical insurance, $14,850 for housing, and $2,740 for various transportation costs. This brings the total annual cost of the full-time program to $98,014.
Sloan offers a number of need and merit-based fellowships and scholarships. These include the Class of 2004 Diversity Fellowship for students from backgrounds that are underrepresented at Sloan, and the Forte Fellowship for outstanding female candidates. Additional awards include the MIT China Scholarship Council Fellowship (CSC) for citizens of the People’s Republic of China and the MIT Public Service Center and Social Impact Fellowships for students working to address societal problems, among many others.
There are also merit-based scholarships available for Sloan second-year students, such as the Seley Scholarship, the Henry B. DuPont III Scholarship, and the Petersen Award. Two final merit-based awards, the Siebel Foundation Award and the McGowan Fellowship, are awarded based on students’ first-year Sloan GPAs, among other considerations.
Finally, Sloan offers teaching and research assistantships to help students cover the cost of tuition. These positions vary in terms of the workload required and stipend.
U.S. Citizens or Permanent Residents who are full-time students at Sloan who are eligible for Federal Perkins Loans, Federal Direct Stafford Unsubsidized Loans and Federal Direct PLUS Loans, as well as various private loans. International students must fill out MIT’s Graduate Loan Application in order to determine their eligibility for private loans.
Applicants are not required to have prior work experience to apply, although Sloan notes that students with work experience typically get more out of the program.
Applicants to MIT Sloan’s Full-Time MBA program are required to submit an online application, a resume, two essays, two letters of recommendation, academic transcripts, GMAT or GRE test scores, and a $250 application fee. The school does not require applicants whose native language is not English to submit TOEFL or IELTS scores to demonstrate English language competency.
The essay prompts for the Class of 2017 were:
- Essay 1: The mission of the MIT Sloan School of Management is to develop principled, innovative leaders who improve the world and to generate ideas that advance management practice. Discuss how you will contribute toward advancing the mission based on examples of past work and activities. Please draw upon experiences which have occurred in the past three years (500 words or fewer).
- Essay 2: We are interested in specific examples of intellectual and professional achievement and how they might relate to graduate study in management and in a career as a manager or business leader. In addition, we are very interested in the character of the applicant and will be helped by any information in that regard. Write a professional letter of recommendation on behalf of yourself (750 words or fewer).
- Additional Essay: The Admissions Committee invites you to share anything else you would like us to know about you, any format.
If you choose to use a multimedia format, please host the information on a website and provide the URL.
Deadline dates for the Full-Time MBA program beginning August 2017 are as follows:
- September 15, 2016
- January 17, 2017
April 10, 2017