This MIT Sloan school guide is designed to help you make a decision about whether Sloan is a good fit for you. In it, we give an overview of the school and its MBA program, including location, information about the MBA community, and ranking. We then give you a detailed look into the MBA course, including program offerings, extracurricular activities, and post-MBA opportunities.
This guide also includes a wealth of resources that will strengthen your Sloan application, including essay guidelines, interview advice, and letter of recommendation planning support.
We know this guide will be helpful for you and your MBA journey, and we wish you the best in your decision and application process! If you have any questions after reading, please feel free to contact us.
School and Program Overview
Location: Cambridge, Massachusetts
Located near Harvard, Cambridge is known for its world-class academics. Sloan is part of the Greater Boston area, making it an urban-based campus. Attending and living near Sloan means that you will have urban opportunities and access to others in academia.
MIT’s campus is located in Cambridge’s Kendall Square neighborhood and is surrounded by biotech companies, tech giants, startups, and research labs, as well as a wide array of restaurants, outdoor activities, arts, music, and culture.
Living near Boston also provides access to a large, diverse community with lots of opportunities for networking and fun activities. For example, in Boston, you can find the Museum of Fine Arts, the Boston Symphony, and the Museum of Science. And if you want a getaway, Cape Cod is a short drive away.
Getting around in Boston and Cambridge is pretty easy. The town and campus are very walkable, but if you need to go somewhere outside of walking distance, there are many public transportation options, including campus shuttles. Most areas are accessible by bus, subway, or trolley.
However, costs for rent can be expensive, especially if you want to be located in Cambridge itself. In 2022, the average rent for a one-bedroom apartment in Cambridge is around $2800, while average rent for a one-bedroom apartment in Boston is $2500. Fortunately, MIT offers graduate housing that ranges from $1-2,000 for individuals and 2-3,000 for families.
Overall, Sloan’s location is one full of opportunities and unique experiences, but you will have to reflect on whether an urban experience matches your needs and desires.
Sloan’s Community
Sloan is an innovative, collaboratively-minded university with a focus on analytics. Thus, a large number of MBA applicants come from STEM backgrounds. The school also admits students with a desire to make positive change. As the Sloan admissions team says, “MIT Sloan students are informed and responsible global citizens with the vision, drive, and practical experience to make significant contributions to their organizations and to the world.”
Photo courtesy of @sloanstudentlife on Instagram
Sloan tends to value students who demonstrate a collaborative personality, leadership potential, global mindset, and ability to think outside the box and innovate. MIT values the diversity of its students and thus encourages people from a wide variety of backgrounds, experiences, and perspectives to apply.
Class Size and Demographics
MIT Sloan’s Class of 2024 is on the small side with 408 total students.
40% of Sloan’s Class of 2024 are international, hailing from 63 countries. 46% of Sloan’s Class of 2024 are women, and 32% are minorities. The demographics of American students are listed in the chart below:
Photo courtesy of mitsloan.mit.edu
In general, Sloan tends to admit applicants with 5 years of work experience. Most students came in from consulting (23%) or finance backgrounds (23%), although a wide range of industries are represented, as illustrated in the chart below:
Photo courtesy of mitsloan.mit.edu
The median GMAT score for the Class of 2024 was 730. Their GRE Quant 80% range was 158-169 and their Verbal 80% range was 157-168.
Tuition
Currently, annual tuition at Sloan is $80,400.
With living expenses included (assuming a moderate lifestyle), total attendance for an individual is around $120,000, as shown below:
Photo courtesy of mitsloan.mit.edu
Note that Sloan has a range of financial aid opportunities, from fellowships based on merit to support applying to aid and loans from external organizations.
Costs and Financing
Sloan’s three-tiered financial aid process starts with merit-based fellowships, some of which admitted students are automatically considered for and some of which require separate applications.
After that, students can apply for additional financial assistance offered through external organizations. MIT’s support for finding these organizations is offered here.
Lastly, students can explore their options for federal and private loans with the support of MIT’s financial services office. Learn more about Sloan’s financial aid opportunities here.
For information on how to get company MBA sponsorship, see our guide or visit this page.
To search for third-party scholarships available for MBA candidates, click here.
For US nationals seeking federal loans, visit the US government website for financial aid. For private loans, see this list to see what firms are offering the best rates.
For international students interested in loans, we recommend the following institutions: Mpower Financing, Juno, or Discover.
Program Length
Sloan’s MBA is a two-year program. It is only offered as a full-time program. However, Sloan’s Executive MBA is 20-months long and part-time to accommodate working professionals’ lives.
Ranking
Sloan is a consistently top-ranked school. Financial Times has Sloan at #11 globally for all MBA programs, while it is ranked in 5th place by US News.
Employment Information
Another important consideration to make when deciding whether any business school is right for you is the MBA’s ROI – where graduates go, and how well they succeed. You want to ensure that the investment you make in your MBA, both in terms of time and money, gets you the career boost you’re aiming for!
The first key indicator of the school’s preparation and reputation is how many students receive job offers immediately after graduation (this is usually within three months). Secondly is the median base salary, which shows the value that employers see in candidates as a combination of their previous experience and skills and knowledge gained during the MBA. Employers are willing to pay candidates more when they can trust that the MBA has provided them with solid leadership skills. We provide the median base salary for all MBA graduates, but we also recommend looking at Sloan’s latest employment report to see detailed post-MBA salary information for your industry.
You will also want to consider each school’s career services and any resources they offer to support your post-MBA success. Part of the investment you make towards your MBA includes ensuring that you are getting the help you need to prepare for interviews, salary negotiations, and network-building. We include information about Sloan’s career services below.
Key Statistics
Of the members of the Class of 2022 who sought employment, 96.6% received an offer within three months of graduation. The top two functions that graduates pursued were consulting (38.3%, median base salary of $175,000) and finance (18.1%, median base salary of $720,000).
Photo courtesy of mitsloan.mit.edu
The median base salary for all graduates was $165,000, and the median signing bonus (which 70.6% received) was $30,000. The top employers of Sloan graduates were BCG, McKinsey and Amazon.
94.6% of graduates received jobs in the US, 53.7% of them ending up in the Northeast.
Employment Services and Resources
Sloan also offers career services via its Career Development Office to support students and alumni in their post-MBA journeys. The office’s staff give students and alumni insights into career options, teach the skills needed to find quality employment, and provide access to employment opportunities via events like job fairs. The CDO also runs the Career Resource Center which provides industry-specific resources.
Is Sloan Right for You?
Now you’ve got the basics of what MIT Sloan is all about. Before you read on to the details of Sloan’s MBA program, you may be wondering if the school is really right for you and your situation.
Our team here at Ellin Lolis Consulting is always excited to support our clients in deciding which MBA is right for you. From mapping out your business school brand and objectives to planning your visit to your top-choice schools, we get to know you so we can offer you the best support along each step of the decision-making process.
Learn more about our all-in consulting services here!
Academics at MIT Sloan
Now you’ve got the basics of what MIT Sloan is all about. Before you read on to the details of Sloan’s MBA program, you may be wondering if the school is really right for you and your situation.
Considering the fact that you can only do one MBA, choosing where to apply is the most important decision you will make during your application process.
Though there are many components to a successful business school application, it’s important to know what you want out of your MBA. One of the most important aspects of an MBA program is academics. After all, you’ll spend most of your time in the classroom, preparing for class, or studying for exams!
In this section, we go into depth about just what you can expect during your MIT Sloan MBA.
Curriculum
Sloan’s MBA curriculum is a mix of both theoretical and practice-based learnings, with a lot of flexibility to mold it to students’ individual interests.
During the first semester, students focus on their core courses, which they take as part of a diverse cohort. Core courses focus mainly on management and analytics fundamentals.
Photo courtesy of mitsloan.mit.edu
Then, starting in the second semester, students are able to personalize their studies by choosing their own electives, including the option to take 3 credits in a non-Sloan affiliated course at MIT or Harvard. Students are able to pursue focused tracks during this time in one of the following three areas: finance, entrepreneurship and innovation, or enterprise management.
During year two, students have the option to complete a thesis, but it is not required.
Joint Programs
For students interested in studying at the intersection of business and other fields, there are three joint degree programs available at Sloan: MIT Leaders for Global Operations in partnership with the School of Engineering (MS/MBA), MIT Sloan and MIT Department of Urban Studies and Planning (master’s in city planning/MBA), and MIT Sloan and Harvard Kennedy School of Government (MPP/MBA or MPA/MBA.
Notable Faculty
Sloan has a number of reputed professors who inspire students to be their best. Here are just a few of them.
Andrew Lo is a professor of finance who has published extensively in academic journals and won a number of awards for his work. He has also been named one of TIME’s “100 most influential people in the world.”
Kristin Forbes is a professor of management and economics at Sloan who rotates this position with policy advising. For example, from 2014-2017, she was an external member of the Monetary Policy Committee for the Bank of England, and from 2003 to 2005 she served as a member of the White House’s Council of Economic Advisers. Thus she has a wealth of practical experience to share with students.
John Sterman is an award-winning professor of management and analytics. He is also the Director of the MIT System Dynamics Group and the MIT Sloan Sustainability Initiative. Sterman is known for communicating complex ideas well to students and for his enthusiasm for teaching.
Roberto Rigobon teaches management and economics, using his perspectives from his native Venezuela. He has won multiple teaching awards, is one of the two founding members of the Billion Prices Project, and is a co-founder of PriceStats.
Pedagogy
Instruction style
In general, there are three primary teaching styles: case studies, experiential learning, and lectures. While Sloan’s MBA combines all three, the emphasis is on experiential learning, as is emphasized by MIT’s “learning by doing” motto.
Photo courtesy of mitsloan.mit.edu
In particular, Sloan’s Action Learning approach is a teaching methodology that enables students to learn by applying classroom theory to business and management challenges at real-world organizations. There are a number of lab courses available in which students are able to gain experience consulting for real-life companies and organizations.
Labs
As part of Sloan’s Action Learning approach, there are 14 labs available for students to collaborate on and test their ideas. Within these labs, students serve a range of industries across various functions and work with companies of all sizes and locations. Topics of focus range from sustainable business to global entrepreneurship.
International Study Programs
MIT Sloan offers many global study opportunities for students as its Global Program reaches over 60 locations worldwide. These include the Strategic Collaborations offering, which allows students to work on transformation within public and private settings to promote regional impact in countries across the world. Additionally, the MIT Regional Entrepreneurship Acceleration Program (MIT REAP) offers the opportunity to engage with communities around the world to strengthen innovation-driven entrepreneurship and transform economies.
Students can also organize trips through the study tours option. Tours are proposed by students who want to explore a topic they are passionate about in a global setting and then partner with faculty and staff mentors to plan logistics. Trips consist of both classes and practical experience during a 2-week trip where students meet, learn from, and exchange ideas with foreign business and government leaders.
Networking and Extracurricular Activities
The quality and extent of any business school’s community and network is key to assessing how the MBA will support your goals and objectives. While the MBA’s academic offerings are certainly one of the most important considerations, the influence and support of others connected to the school are one of the most influential aspects of getting an MBA.
In clubs and extracurricular activities, you will meet others who can expand your perspectives, give you innovative ideas, and potentially become future business partners. When exploring each school’s extracurricular opportunities, see whether there are activities that align with your goals, values, skill gaps, or general interests.
Photo courtesy of @blackatsloan on Instagram
As for the school’s networks and alumni community, some programs have stronger connections than others. You will want to consider whether the school has good connections to the regions and/or industries that you are aiming for and whether or not alumni networks exist where you are headed post-MBA. Not only will this be a chance for you to stay connected after graduation, but it can also get you lifelong career support and opportunities.
Extracurricular Activities and Clubs
With over 80 clubs and extracurricular activities available at Sloan, there are many ways to refine leadership, networks, skills, and passions during the MBA.
Photo courtesy of @sloanpride on Instagram
Whether you are interested in networking with others from your region or social group (e.g. Black Business Students Association, Brazil Club, Sloan Women in Management), exploring your industry/background further (e.g., Fintech Club, Effective Altruism Club, Quantitative Financial Markets Club), or simply finding others with similar personal interests (e.g. Sloan Microbrewing Club, Sloan Runners Club), there are certainly a number of clubs that fit your profile and objectives.
Networking and Alumni Opportunities
In addition to experiencing Sloan’s tight-knit student community, MBA students and grads have access to the school’s alumni community, which is made up of 24,000 members. Sloan alumni have a tradition of helping other Sloanies out with their career objectives.
There are multiple clubs organized by alumni worldwide, from California to Japan.
Students also have access to alumni mentoring via the Student-Alumni Mentoring Program, where they can gain advice on navigating the MBA as well as how to prepare for post-graduation success.
Summary: What Makes Sloan Special?
Apart from Sloan’s reputation as one of the most academically rigorous MBA programs out there, there are a few key aspects that make Sloan unique:
- Excellence in tech, engineering, and analytics: Sloan’s reputation for excellence lies in its quality STEM offerings taught by renowned professors. And around half of any given MBA class has an undergraduate degree in a STEM topic. If you are interested in a career in data, analytics, engineering, or tech, MIT, where you will be surrounded by brilliant STEM minds, may be just the place for you.
- Flexibility: Around 75% of Sloan’s curriculum is customizable, making it easy for students to pursue their particular interests and mold the program to their objectives.
- Sustainability: Innovation and future-oriented approaches are a foundation of Sloan’s ethos. There are many opportunities to develop skills in sustainability, including through the sustainability lab and workshop ideas for changing the status quo.
MIT Sloan Resources & Templates To Get You Accepted
Now that you know just about everything there is to know about Sloan and its opportunities, you may be considering applying. Luckily, our expert team at Ellin Lolis Consulting has a wealth of Sloan-specific resources to make your application stand out and succeed. We’ve compiled them below:
Sloan Essay Analysis
Receiving thousands of applications per year, and with an acceptance rate of 14%, Sloan is a highly selective MBA program.
This guide, which includes tips from our expert essay editing team, will help you use your Sloan admissions essays to stand out. You’ll find an analysis of who Sloan is looking for, the essay questions, and what to (and not to!) do. We’ve also included sample essays. All in all, using this guide will ensure you give your Sloan application your best shot.
Sloan Interview Prep
The Sloan interview is one of the most sought-after – and most difficult – interviews to land in the business school world. Luckily, we’ve created this exclusive guide to help you prepare for a Sloan interview that stands out among the competition.
In this guide, we’ve rounded up not only our best tips from our interview team but have also included sample Sloan interview questions.
Additional Sloan Resources
Looking for even more resources to ensure you get into Sloan?
Our MBA Resource Center is the perfect tool to start – or improve! – your Sloan application. In our MBA Resource Center, you get access to:
- Dozens more successful Sloan essays
- An exclusive essay brainstorming guide
- Letter of recommendation guides and templates
- Résumé templates
- Additional resources like interview mocks and sample interview essays
Our MBA Resource Center is the tool you need to turn an average application into an outstanding application that earns you a spot at Sloan!
Our clients get accepted to Sloan
If your eyes are set on Sloan, you may be wondering about how you’ll prepare and execute a successful application. As one of the most selective MBA programs out there, getting admitted to Sloan is no easy task. Luckily, Ellin Lolis Consulting is here to offer our comprehensive expertise to you.
From brainstorming your ideas for your essays to negotiating your scholarships, our all-star team ensures that you get exactly the support and guidance you need along every step of the application process.
Don’t just take our word for it – take a look at the following testimonials from some of our clients who were admitted to Sloan:
Landing a spot at Sloan is no easy task. Now is the time to make sure your accomplishments truly shine.
Ellin Lolis Consulting began with one mission: provide the best possible service to our clients and get them the best possible results. We know that applying for an MBA can be a difficult, long process, but our goal is to take away as much of the stress as possible by acting as your ally in the process.
So if you need much more than just a few comments on your essay but instead want focused help shaping how you present your life’s greatest hits to one of the world’s toughest critics, you can count on us.
That’s why we have a 98.9% success rate. We love digging deep into your story, finding what makes you unique, and sharing your accomplishments and why you belong at Sloan, all without losing your voice.
If you want our one-of-a-kind, expert support in getting admitted to MIT Sloan, apply to work with us and let our award-winning team help you make an unforgettable first impression on MIT’s admissions committee.
Additional MBA Resources To Help You Secure Your Spot
While preparing your MBA application, the following resources created by Ellin Lolis Consulting will help you ensure you are not just doing everything right but developing an outstanding and competitive application.
Deciding and Planning
- How to Decide Where to Apply to Business School
- Your Complete Timeline for MBA Application Success
- How to Create Your Business School Brand
- When Should You Start Preparing Your MBA Application?
- MBA Application Rounds: When Should You Apply?
- 3 Key Ways MBA Consultants Help You Build a Better Application Strategy
Writing your Essays and Résumé
- Your Complete Guide to Writing Winning MBA Essays
- How to Choose Your MBA Essay Stories (webinar)
- How to Write an MBA Goals Essay that Lands You an Interview
- 3 Reasons MBA Consultants Are Critical When Identifying and Telling MBA Essay Stories
- How to Use Storytelling to Write Standout MBA Essays
- How to Highlight Uniqueness in Your MBA Essays
- How to Discuss Failures and Weaknesses in Your MBA Essays
- How to Write an MBA CV
Letters of Recommendation
- How to Choose the Best Recommenders for Your Application
- How MBA Consultants Can Help you Obtain Better Letters of Recommendation
- How to Secure MBA Letters of Recommendation
MBA Interview Prep
- How to Be an Interview Rockstar and Leave a Great Impression
- The 5 Toughest MBA Interview Questions and How to Ace Them
- 5 Critical MBA Interview Mistakes Non-native English Speakers Make (And How to Stop Making Them)
- Ask These Questions During Your MBA Interview
- 3 Key Ways MBA Consultants Can Help You Prepare for Your MBA Interviews
- The 3 Most Common MBA Interview Mistakes (and How to Avoid Making Them) (webinar)
After Getting Accepted
- You’ve Just Been Accepted to Business School! Now What?
- MBA Application Fundamentals: What To Do After You’re Admitted
Get Expert Help
We hope you have enjoyed this guide to the MIT Sloan MBA.
I know that applying for an MBA can be a difficult, long process, but arming yourself with information about your top-choice programs, planning ahead, and finding your application ally can take away as much of the stress as possible in the process.
So, whether you need help developing your MIT Sloan essay or guidance shaping how you present your greatest hits to one of the world’s toughest critics, you can count on my amazing team and me.
Real MBA Essays That Got People In
School-specific sample essays that got our clients accepted
