MBA graduates from MIT’s Sloan School of Management had yet another exceptional year in pay and employment in 2015. The school reported that the total median compensation package–including sign-on bonus and other guaranteed comp–totaled $147,729, higher than nearly any other business school except Stanford and Harvard.
The school said that median starting salaries were $125,000, up slightly from $124,400 last year, while median sign-on bonuses, received by slightly more than 75% of the class, were $25,000. Another 19% of the class reported median other guaranteed compensation of $20,500, up $500 from last year. The school’s employment numbers were even more impressive. Some 91.5% of the class reported getting at least one job offer by graduation, up from 85.9% a year earlier, while 95.6% of the grads had offers three months later, up from 94.6% in 2014.
The year’s highest reported starting salary–$220,000–went to an MIT MBA who took a job in the computer/electronics industry in operation or project management in the San Francisco Bay Area which attracted 20.1% of the graduating class. Otherwise, no industry paid higher bases at MIT Sloan this year than consulting where the median starting salaries were $140,000, up $5,000 from the $135,000 base level of a year ago.
MCKINSEY LEADS ALL EMPLOYERS AT SLOAN HIRING 31 GRADUATES THIS YEAR
The biggest shift in the school’s employment report was a move by Sloanies into high tech. Some 30.6% of the class accepted jobs with tech firms, up from 26.1% a year earlier and only 19.2% two years ago. MBAs moving into investment banking saw another decline to just 6.1% of the class, down from 6.8% last year and 8.1% in 2013. The consulting INDUSTRY maintained its share of Sloanies, employing 32.1% of this year’s crop of graduates, roughly similar to the 33.9% level of last year.
McKinsey & Co. again emerged as the school’s largest employer, hiring 31 graduates out of the 317 who were seeking employment in this year’s class of 400 MBAs. Amazon carted away 22 MBAs from Sloan, up from 16 a year earlier, while Boston Consulting Group and Google each employed 14 Sloanies. Last year, Google hired 9 Sloan MBA grads. Deloitte Consulting brought aboard 13 MBAs this year, while Bain hired a dozen. Among the school’s other top ten recruiting companies were Apple (7), Microsoft (7), Parthenon-EY (6), Boeing (5), and Morgan Stanley (5).
Some 28 members of the class, or 7% of the total, went the startup route, deciding to create their own companies this year. That was roughly the same number as last year when 30 MIT grads, or 7.4% of the class, launched their own companies.