MIT Sloan School of Management

Massachusetts Institute of Technology, MIT Sloan School of Management History

Massachusetts Institute of Technology, founded in 1861, is a private, coeducational institution. The 125-acre campus is located in an urban area in Cambridge. Total undergraduate and graduate enrollment is 10,206.

The MIT Sloan School of Management was founded in 1914 and is located on the main campus, in its own building, Alfred P. Sloan Building, Tang Center for Management Education. The basic educational approach is to prepare managers through team learning and 7 specialized management tracks that bridge the gap between theory and practice and provide students with the ability to tailor their education to their interests and goals.

Massachusetts Institute of Technology, MIT Sloan School of Management Academics

The MIT Sloan offers the Master of Business Administration (MBA) and Master of Science in Management (MSM) as well as a doctoral program in business with 11 research concentrations, and a joint degree in with the MIT School of Engineering, the Leaders for Manufacturing Program (LFM), Biomedical Enterprise Program, and MPA/MBA with the Harvard University Kennedy School of Government. Other programs include cross-registration with Harvard University, foreign exchange with England (London School of Business), Spain (IESE), and the United Kingdom, summer internships with various companies between the first and second year, joint research through 19 research centers, interdisciplinary programs in engineering systems and design, and cooperative programs with several international schools and universities. The MIT Sloan Fellows Program (SF) is a 1-year master’s degree program for men and women whose professional work experience (10 to 15 years) has given them on-the-job opportunities to demonstrate leadership. Most are nominated and sponsored by employers. The strongest areas of study are finance, entrepreneurship, strategy, operations, and marketing. The most popular courses are Finance, Entrepreneurship, Global Ent. Lab, Leadership Negotiation, and Systems Dynamics. Regular programs bring distinguished speakers and visiting professors to campus. Prominent executives and MIT Sloan alumni often speak at special events throughout the year.

One hundred forty-four total credits are required to complete the MBA, including 144 elective credits. Required courses include:

• Economic Analysis for Business Decisions
• Data, Models, and Decisions
• Organizational Processes
• Financial Accounting
• Communication for Managers

Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time is 2 years.

There are 96 total full-time graduate business faculty, all of whom hold a doctorate. Faculty salaries are rated well above average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 3; average business class size is 60.

Massachusetts Institute of Technology, MIT Sloan School of Management Unique Programs

Library

The Dewey Library houses a collection of more than 2,782,406 volumes, and subscribes to 22,991 periodicals. Students have access to such databases and networks as Dow Jones News Retrieval, Dialog, and Lexis/Nexis. Other opportunities for research consist of the Center for Information Systems Research and the Center for Energy and Environmental Policy Research.

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities, consisting of high-speed wired and wireless network infrastructure. Along with their own personal laptops, students access network high-performance research and instructional applications (e.g., trading, finance) through more than 75 Windows workstations and more than 100 UNIX workstations. All labs are accessible on a 24-hour basis. MIT Sloan also provides students with site-license copies of basic productivity tools such as Microsoft Office and specialized tools such as SAS and SPSS for statistics.

Career and Job Placement

Majors most in demand by companies recruiting in 2006 were strategy, finance, operations, and marketing. Average starting salary of the graduating class was $101,988; range was $6500 to $165,000. Placement services are extensive. Placement services for alumni include career counseling, a career library, and on-line job posting. Placement is available through MIT Sloan’s Career Development Office and the university placement office.

International Students

International students must submit a translation of their transcripts and proof of adequate funds to cover the first year of study. Financial aid is available for these students and consists of CitiAssist loan.

Calendar

The school operates on a modified (6-1-6) basis. Semesters are 13 weeks long. Graduate programs are offered during the day only.

Massachusetts Institute of Technology, MIT Sloan School of Management Admissions

A bachelor’s degree is required. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 2943; 605 were accepted; 377 enrolled. The average GPA was 3.5; average GMAT score was 710. Transfers are not accepted. MIT Sloan actively seeks to recruit a diverse class.

Students may begin the MBA program in the fall only. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $230, 2 letters of recommendation, essays, and a resume. Check with the school for application deadlines.

Massachusetts Institute of Technology, MIT Sloan School of Management Financial Aid

About 63% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $53,067 annually; maximum $124,467. Stipends and programs available for minority students include Sloan and MIT Scholarships and various corporate fellowships. The FAFSA and the school’s own financial statement and the previous year’s tax return are required. The application deadline is March 1 for fall entry.

There is a limited supply of graduate housing for MBA students on campus. There is a referral service to help procure off-campus housing.

Massachusetts Institute of Technology, MIT Sloan School of Management Students

All of the current graduate business school class are enrolled full time; all have had an average of 5 years of full-time work experience prior to entering graduate school. The greatest percentage of students are from Massachusetts (36%). Thirty-one percent are women, 22% are minorities, and 30% are foreign nationals. The average age at entrance is 28; ages range from 21 to 40. Three percent enter directly from undergraduate school. Students’ undergraduate majors were as follows: 35%, engineering; 31%, social sciences; 14%, business; and 10%, math and science. In 2006, 475 graduate business degrees were awarded.