Massachusetts Institute Of Technology

Program Basics

• • Undergraduate Program in Management Science
  • 77 Massachusetts Avenue
  • E52-554
  • Cambridge, 02139, Massachusetts
  • United States
  • Program Web site: http://mitsloan.mit.edu/undergrad
  • Program e-mail address: ugprogram@sloan.mit.edu
  • Program phone number: 617-253-8614
  • Status: Private
• • AACSB accredited: Yes
• • Year in which the undergraduate business program was founded: 1914
• • Institution: Four Year
• • Business Program: Four Year

SCHOOL BASICS

• Enrollment:

  • Institution's total undergraduate enrollment: 10,566
  • Undergraduate business program's full-time enrollment: 151
• • Freshman retention rate for your college or university?: 97 %

• Undergraduate Business Degrees Offered:

  • Degree Offered (e.g. BA, BS)/Program Name: SB Management Science

PROGRAM COSTS

• • Annual Tuition (Resident): $38,940.00
• • Annual Tuition (Non-Resident): $38,940.00
• • Annual Required Fees: $272.00
• • Tuition Per Academic Credit (Resident): $605.00
• • Tuition Per Academic Credit (Non-Resident): $605.00
• • Annual Room and Board: $11,234.00
• • Annual Cost of Books: $1,106.00

ADMISSIONS - Getting Into the Institution

• Which standardized tests are required of all applicants?:

  • SAT Reasoning Test or ACT with Writing
  • 2 SAT Subject Tests, one each in math and science
• • Are interviews required?: Not required

• Application deadlines for the 2011-2012 academic year

  • Fall 2011 01-01-2011
• • Additional application requirements: Non-native English speakers have the option of taking TOEFL in place of SAT Reasoning test or ACT with Writing. To apply, transfer applicants must have a minimum of 2 semesters of college, but not more than 5 semesters, at the time they would enroll.
• • Total number of full-time undergraduate applications (admitted and denied) to all programs: 16,632
• • Percentage of applicants admitted: 10 %
• • Percentage of applicants (admitted and denied) to the entire college for the 2010-11 academic year who were international: 22 %

• Relative Importance of Application Elements

  • Secondary school record: Important
  • Class rank: Important
  • Talent/ability: Important
  • Interview: Important
  • Extracurricular activities: Important
  • Volunteer work: Considered
  • Character/personal abilities: Very Important
  • Application essay: Considered
  • work experience: Considered
  • SAT/ACT scores: Important
  • Recommendations: Important
  • High school GPA: Important

ADMISSIONS - Getting Into the Business Program

• Freshman admission:

  • Does the business program admit freshmen?: No

CAMPUS LIFE

• • Are freshmen required to live on campus?: Yes
  • Are business students grouped together in 'learning communities' in housing and other facilities?: No

PROGRAM REQUIREMENTS

• Other requirements for the undergraduate business degree

  • 180 MIT Department Units

ACADEMICS

• • Average class size in required business classes, excluding those offered in electronic format: 30
  • Average class size in BUSINESS ELECTIVES, excluding those offered in electronic format: 38

• Percentage of business classes:

  • With 20 or fewer students: 22 %
  • With 21 to 50 students: 52 %
  • With more than 50 students: 26 %

• Course enrollment:

  • Percentage of required business courses reaching maximum enrollment by the first day of class: 7 %
  • Percentage of required business courses with waiting lists: 7 %

CURRICULUM

• Electives:

  • Number of elective courses (not different sessions of same course) available in the business program in the current academic year: 133
  • Names of new electives that have been added to the business program in the current academic year: Enabling an Energy Efficient Society
• • In what year was the last major change or significant overhaul to the business program's core curriculum?: 1984
  • Total number of faculty currently teaching in the undergraduate business program: 108
  • Percentage of the total faculty that is tenured or tenure track: 100 %

• Business program's leading areas of study:

  • • Finance
    • Marketing
    • Management Information Systems
    • Entrepreneurship
    • Statistics and Operations Research

• New electives added in current academic year:

  • Enabling an Energy Efficient Society
  • Financial Crises
  • Critical Issues in Entrepreneurship, Emerging Hydrocarbons Energy Ventures
  • Issues in Economic Policy

• Work study:

  • Does the business program offer work study or co-op opportunities?: No

• Study abroad:

  • Does the business program offer opportunities to study abroad?: Yes
  • Study abroad programs: We have no formal exchange programs, but we offer transfer credit for equivalent coursework.

• Volunteer opportunities:

  • Are opportunities for volunteer work and community service available to business students?: Yes
  • Available opportunities for volunteer work and community service: via the MIT Public Service Center

• Extracurricular activities:

  • Business-related clubs and extra-curricular activities are available to undergraduate students: SUMA - Sloan Undergraduate Management Association
  • NSUW - Network of Sloan Undergraduate Women
  • SEBC - MIT Science & Engineering Business Club

FINANCIAL AID

• • Who manages financial aid for the business program?: Central financial aid office at the university
  • Financial aid web site: http://web.mit.edu/sfs

• Scholarships

  • On what basis are scholarships awarded to students in your business program?: financial need
  • Percentage of institutional scholarship money distributed to undergraduate business students based on need: 100 %
  • Percentage of institutional scholarship money distributed to undergraduate business students based on merit: 0 %

• Loans

  • Does the school offer a guaranteed loan to all business students, regardless of nationality?: Yes

CAREER SERVICES

• Employment Information

  • Percentage of 2010 graduates from the business program for whom you have information regarding employment: 71 %
  • Percentage seeking full-time professional employment in business: 84 %
  • Percentage not seeking full-time professional employment in business: 16 %
• • Number of companies that recruited undergraduate business students on campus: 29
  • Number of companies that posted full-time job offers for undergraduate business students on school job boards: 207
  • Other activities and services: Career counseling and planning, drop-in career advising, workshops and panels, online job and internship listings and on-campus interview scheduling, mock interviews, resume critiques, career self-assessment, extensive alumni network, job shadowing, grad and prof school advising, including a virtual graduate school fair, career library, online workshops, assessment tools, and career info databases, employer info sessions, career fairs, career development handbook, post-graduation career services

• Job Offers

  • Received first job offer by graduation: 84 %
  • Received first job offer after graduation, but within 3 months: 6 %
  • Received first job offer more than 3 months after graduation : 6 %
  • Did not report having received a job offer : 4 %
  • Accepted first job offer by graduation : 82 %
  • Accepted first job offer after graduation, but within 3 months: 8 %
  • Accepted first job offer more than 3 months after graduation: 6 %
  • Did not report having accepted a job offer : 4 %

• Firms that hired the most 2010 undergrad business majors for full time jobs

  • Goldman Sachs 3
  • Barclays Capital 2
  • Deloitte Consulting 2
  • IBM (consulting) 2
  • JP Morgan 2
  • McKinsey & Co. 2
  • Morgan Stanley 2
  • NERA Economic Consulting 2
  • Bain & Co. 1
  • Oakley 1
  • Bank of America 1
  • Boston Consulting Group 1
  • Citigroup 1
  • Credit Suisse 1
  • Deutsche Bank 1

• Compensation

  • Mean base salary: $65,218.00
  • Median base salary : $65,000.00
  • Mean signing bonus: $8,107.00
  • Median signing bonus: $10,000.00
  • Mean other guaranteed compensation: $5,850.00
  • Median other guaranteed compensation: $5,000.00

• Percentage of 2009-10 academic year graduates who accepted jobs in the following functional areas:

  • Consulting: 34 %
  • Finance/Accounting: 43 %
  • Human Resources: 2 %
  • Management Information Systems: 4 %
  • Marketing/Sales: 9 %
  • Operations/Production: 2 %
  • Other: 6 %

• Percentage of 2009-10 academic year graduates who accepted jobs in the following industries:

  • Consumer Products/Retail : 2 %
  • Consulting: 33 %
  • Government/Education: 6 %
  • Manufacturing: 4 %
  • Media/Entertainment: 6 %
  • Technology/Science: 10 %
  • Other: 2 %

• Percentage of 2009-10 academic year graduates who accepted jobs in North America:

  • US: 96 %

• Percentage of 2009-10 academic year graduates who accepted jobs in regions of US:

  • Northeast: 72 %
  • Mid-Atlantic: 2 %
  • South: 6 %
  • Southwest: 9 %
  • West: 9 %
  • Possessions and territories: 2 %

INTERNSHIPS

• • Number of companies that recruited internship-seeking undergraduate business students on campus in 2009-10 academic year: 15
  • Number of companies that posted internships for undergraduate business students on school job boards in 2009-10 academic year: 103

• • -The accompanying quantitative and economic classes are unrivaled by any other program and the option to take engineering classes at MIT, such a prestigious engineering school, really gives us a leg up on competition from other universities and hones problem solving skills.
    
    -At MIT, it's more about teaching you how to think than anything else. Everyone is extremely bright.
    
    -Some of the core classes could be more rigorous academically but this could just be a function that business in general is not as challenging at a fundamental level as engineering, which is the automatic comparison at MIT.
    
    -We are not competitive and cutthroat like other business students.
    
    -It's unique in the way it prepares you for the real world through a rigorous and thorough curriculum in addition to practical and hands-on learning.
    
    -The emphasis on technology makes MIT's business program unique.
    
    -Incorporating more technology into MIT's business program would make it stronger.
    
    -Only at MIT is there such an emphasis on quantitative skills in a business program. I think quantitative skills in business is not emphasized enough at other schools. There is no mincing math at MIT.
    
    -The only thing I find lacking is the program's ability to foster networking amongst undergraduates. For graduates, the networking is very good. But they should have more undergraduate events.
    
    -It could be stronger by organizing more networking events with relevant firms.
    
    -The emphasis on technical ability and quantitative skills, combined with a strong grasp of finance and economics knowledge [makes MIT unique].
    
    -More emphasis on communication [would improve the program].
    -It offers academic diversity that is unrivaled. I take case study, problem set, and real-world hands-on project intensive classes, each with its own different perspective on a problem. What makes Sloan so great is that it focuses on teaching HOW to think about a problem. Sloan develops a creative, out-of-the-box cognitive process that is extremely flexible and more applicable to my career pursuits after college. I have found no shortage of applications for my degree in Management Science with a focus in Finance when I worked a consulting internship at Simon-Kucher & Partners. The creative, flexible cognitive development is, by far, the component that makes Sloan so unique.
    
    -Perhaps offer performance-based scholarships which would make MIT Sloan more desirable to applicants, but this is not so much of a concern as the school is currently one of the top programs in the nation.
    
    -It still has a touch of MIT's quirkiness and mathematical models.
    
    -A required class on business law [would improve the program].