A top choice amongst MBA aspirants is Massachusetts Institute of Technology (MIT) Sloan School of Management. With faculty that is featured in media very often for their pioneering techniques in teaching techniques.
The school’s faculty introduced various management and finance methodologies including, but not limited to the Black–Scholes model, the Solow–Swan model, and the random walk hypothesis. The school’s history in pioneering education in MBA education isn’t limited to the teaching methodologies.
It is also a pioneer in Executive education through the Sloan Fellows MBA Program.
The school’s motto, ‘Learning by Doing’, is depicted through its teaching methodologies which includes hands-on Action Learning Labs. The school boasts of a faculty consisting of Nobel Laureates and John Bates Clark Medal receivers.
Sloan has managed to be ranked amongst the Top 10 business schools in the Financial Times Ranking for the past couple of years and is also a part of the elite M7 business schools.
Students at Sloan describe the social structure of the school as ‘low-ego’, and ‘collegial’. They also say that while most business schools act as factories to churn out MBAs, Sloan is a Laboratory and not a factory, thus driving the motto of ‘Learning by Doing’ home.
The reason we are discussing social culture here is because before you ask the question ‘How to Get into Sloan?’, you must know how you could fit in at Sloan’s MBA program. While the social culture can only truly be known by first-hand accounts of students who have spent time at the school, let’s get to know the academic figures and facts before making your perfect MBA Profile for MIT Sloan.
Types of MBA at MIT Sloan School of Management
While MIT Sloan provides various graduate and undergraduate programs to applicants vying to be a part of their community, they have three main MBA options.
The curriculum of these programs is very rigorous and demanding. Sloan is known as a Quant school, and the MBA classes have a strong ethical, professional, and academic inclination. While schools like Booth tend to be more independent in regards to a student’s curriculum, Sloan takes the traditional route.
The three MBA Programs offered at Sloan are:
Two-Year MBA Program
The two-year MBA Program at Sloan is aimed at professionals wishing to either make a career change, or getting a full-time traditional MBA degree.
The program starts with one core curriculum that the student must take in the first semester and is followed by electives, tracks, and certificates. The program also comes with the options of dual and joint degrees:
- MIT Leaders for Global Operations
- MIT Sloan and MIT Department of Urban Studies and Planning
- MIT Sloan and Harvard Kennedy School of Government
Executive MBA Program
The Executive MBA Program at Sloan is aimed at professionals with over a decade of work experience, although experience less than 10 years is accepted in special cases. For the EMBA program, the school also makes an exception in the undergraduate degree requirement, i.e. they allow other achievements to be presented in lieu of an undergraduate degree.
EMBA Program details:
- 20-month duration
- Classes every three weeks on Friday/Saturday
- One-week module every six monthsy
- One-week international project trip
MIT Sloan Fellows MBA Program
Unlike the Stanford Graduate School of Business or London Business School, who only receive a Masters of Science degree on completion of their course, the MIT Sloan Fellows program allows students to choose from an MBA, Master of Science in Management, and a Master of Science in Management of Technology degree.
As mentioned earlier MIT Sloan was also the first school to start an MBA program, for executives and mid-career employees, under the Sloan fellows Program.
The one-year program requires a GMAT/GRE score for application and the final decision is highly influenced by the work experience of the applicant
MIT Sloan Two-Year MBA Application Process
The application process for the various MBA programs at MIT Sloan is similar except for a few variables like the eligibility criteria.
For the Two-year MBA Program at Sloan, anyone with a bachelor’s degree equivalent to a four-year undergraduate degree in the US is eligible to apply. As far as work-experience requirements go, the program doesn’t have a minimum number of years of professional full-time work that an applicant must have. However, the average work-experience of the last incoming class was 5 years
The school also offers deferred admissions to applicants with no work experience if it would help improve their profile.
The application is only complete once a non-refundable fee of $250 USD is paid by a credit card. The school also offers application fee waivers to applicants that meet pre-set criteria
Applicants can receive application fee waivers at MIT Sloan in the following cases:
- US citizens who are also current college seniors.
- Active U.S. military personnel
- Members of Teach for America
- Members of the Peace Corps
- Forté MBA Launch participants
- MLT/Jumpstart MBA Prep Fellows
- Attendees at special events like the Diversity Alumnae Panel and the LGBTQ+ Visit Day
|Application Checklist ||Requirements
|Cover Letter || The cover letter for the application process at MIT Sloan is an answer to an open-ended question, ‘How do you fit in at MIT Sloan and what can you bring in to the program?’, with a 300-word limit.
The school doesn’t ask you a direct question for the cover letter and let’s an applicant take their own course while writing it
|Resume ||The resume submitted to MIT Sloan should not have any of your personal information like your name, address, or contact information on it. It should be a one-page document which contains your academic and professional history in reverse chronological order. The format of the resume should be as follows:
- Work Experience
- Additional Information (extra curriculars, community service, etc.)
|Video Statement ||Applicants are required to upload a video statement during their application process. This video statement should be an introduction to the participant and should include a little bit about their past and the reasons why MIT Sloan is the best school for them.
The video shouldn’t exceed one minute and should be made using an application like iMovie, in a single take.
|Letter of Recommendation ||The applicant must provide one Letter of Recommendation from a recommender who can vouch for their professional skills. The recommender must answer the following questions in a letter, or short answer format.
- Please provide a brief description of your interaction with the applicant and, if applicable, the applicant’s role in your organization. (Maximum word count: 50 words)
- How does the performance of the applicant compare to that of other well-qualified individuals in similar roles? (e.g., what are the applicant’s principal strengths?) (Max word count: 500 words
- Describe the most important piece of constructive feedback you have given the applicant. Please detail the circumstances and the
- applicant’s response. (Max word count: 500 words) Is there anything else we should know? (Optional)
|Additional References || Two additional references need to be provided by the applicant. These references should be able to speak to the applicant’s professional or academic performance.
The applicant must provide the name, phone number, email-id, the place of work, and the relation to the applicant, of the recommender.
|Organizational Structure ||Applicants must submit an organizational chart, no longer than two pages, outlining the line of report in their current organization. Names can be redacted if needed. However, your recommenders or references should be clearly mentioned in the chart, showing a line of reporting with you.|
|Transcripts ||An official transcript is only demanded by the school post-acceptance. For the application process, the applicant must send a copy of their latest transcript from their last educational institution. |
|GMAT/GRE ||The GRE/GMAT scores that an applicant reports must be valid and also should be from an exam taken before the submission of the application. |
|Re-application ||Any re-applicants have to complete a fresh application from scratch. They also require to answer a short-essay question highlighting the changes in their profile since the last time they applied. |
MIT Sloan MBA Program Deadlines
The admissions committee at MIT Sloan reveals all decisions only through an applicant’s online application. The results for some candidates might come out earlier than the set deadlines in case they have been rejected without the interview round.
Two-Year MBA Program 2020 Application Deadline
|Admissions Round ||Application deadline (3 p.m. EST) ||Admissions Committee decision out by||Last date of accepting admit|
|Round 1 || 1 Oct 2019 ||18-Dec-19||1-Mar-2020|
|Round 2 || 21-Jan-2020 ||31-Mar-2020||1-May-2020|
|Round 3 || 9-Apr-20 ||7-May-20||1-Jun-2020|
Executive MBA Program 2020 Application Deadline
|Admissions Deadline ||Date of submission (11:59 p.m. EST) |
|Deadline 1 ||7-Jan-2020|
|Deadline 2 ||12-Mar-2020|
|Deadline 3 ||28-May-2020|
MIT Sloan Fellows MBA Program 2020 Application Deadline
|Admissions Round ||Application deadline (3 p.m. EST) ||Admissions Committee decision out by||Last date of accepting admit|
|Round 1 || 8 Oct 2019 ||16-Dec-19||1-fEB-2020|
|Round 2 || 2-Jan-2020 ||12-fEB-20||15-March-2020|
|Round 3 || 10-Feb-20 ||25-MaRCH-20||3-Apr-2020|
Tuition and Living expenses At MIT Sloan
An education like MIT Sloan’s MBA program is not only rare but also highly sought-after.
However, that isn’t the only factor in the price of a MIT Sloan education being high.
The tuition of the two-year MBA Program at MIT Sloan is $154,336. This however doesn’t include the living and other expenses and is merely the tuition for the program. To get a clearer idea of what a year of attending MIT Sloan, along with the tuition, living expenses, etc., will look like, take a look at the table below.
|Expense ||Cost (in USD)|
|Total fees ||$2,540|
|Books and Supplies ||$2,550|
|Computer (1st year only) ||$2,000|
|Personal (includes medical insurance) ||$6,950|
This is a comprehensive total for nine months only. Three months of internship from the first year will be an added cost that would vary depending on the opportunities a student comes across. In the second year, three more months of room and board will be added to the total cost, making it $126,221. If you remove the expenses that a student is expected to incur in the first year only, the total cost of attendance comes down to $124,221.
Roughly, the total cost of attendance for a two-year MBA program at MIT Sloan, excluding the summer internship, will be $243,039 ($118,818+$124,221).
The school also provides numerous scholarships to deserving students and help others in arranging loans to help finance their education.
Fellowships at MIT Sloan
Every applicant is considered for the following scholarships at MIT Sloan by default on filling oout an application.
- Tamotsu Adachi (1983) Fellowship
- Antonios and Ioannis Angelicoussis Foundation Fellowship
- ASEAN Fellowship
- Beatrice Ballini (1986) Fellowship
- Philip M. Condit (1975) Fellowship
- Linda Archer Cornfield Fellowship
- Joseph E. Eastin (2015) Fellowship
- Exxon Education Foundation Fellowship
- Alexis (1967) and Leticia Falquier Fellowship
- Bill and Lisa Ford Fellowship
- Global Opportunities Fellowship
- Gordon-Bluestein Fellowship
- Gordon Family Sloan Fellowship
- MIT Sloan Guo Heng Fellowship
- Bassim (2002) and Maha Halaby Fellowship
- LCP Ho Fellowship
- Iman Foundation Fellowship
- John E. Jamerson (1977) Fellowship
- Marzio Keiling Sloan Masters Fellowship
- Kenedix Fellowship
- Assia Khellaf (1992) and Vedat Eyuboglu Fellowship
- Eivind Lange (1981) Mary Puma (1981) Fellowship
- Lo Family Fellowship
- Gernot Lohr (1998) and Lara Zibners Lohr Fellowship
- Stephen E. Mermelstein (1976) Fellowship
- Nath Fellowship
- Pechacek Fellowship
- Thomas R. Petersen Memorial Fellowship
- Chin Chin and Garrison Qian Fellowship
- Samsung Fellowship
- Sadeq Sayeed (1985) Fellowship Fund
- Serge (1996) and Pascale Schoen Fellowship
- Louis E. and Theresa Seley Fellowship
- Miriam Sherburne Fellowship
- Alexander H. Shing (2000) Fellowship
- Shivan S. Subramaniam (1978) Fellowship
- FM Global Fellowship in Honor of Shivan Subramaniam (1978)
- Lester Thurow Fellowship
- Verma Family Fellowship
- Ronald A. Williams (1984) and Cynthia Williams Fellowship
- Thomas R. Williams (1954) Fellowship
- Connie (1995) and Paul (1991) Yang Fellowship
MIT Sloan MBA Graduates Compensation
While analyzing a business school’s worth, it would be quite ironic to not know what kind of a return it can provide you. Well, MIT Sloan is one of the top schools in this regard. Although, compensations that graduates receive is not the only return a business school provides, it is the only tangible return that takes into account intangible factors like the school’s business relations, goodwill, brand name, alumni network, teaching quality (thus also the faculty), and much more.
In 2018, MIT Sloan surpassed Harvard Graduate Business School in the median compensation received by fresh MBA Graduates. While Harvard came in with a solid $160,268 total median compensation for fresh graduates, Sloan reported $161,355 in total median compensations for the same.
MIT Sloan brief employment report 2018-19
Total Median Base Salary: $135,000
Total Range of Base Salary: $50,000—$250,000
|Industry ||Median ||Mean||Low||High|
|Service Industries ||$135,000 ||$136,6901||$50,000||$230,000|
|Manufacturing Industries ||$125,000||$128,370||$85,000||$170,000/td>|
How to crack MIT Sloan MBA admissions?
We all know the basics of getting into a top MBA Program. Get a high GMAT score, have around 3-5 years of work experience, a few extra-curriculars, and a transcript filled with A grades. But that isn’t what really makes an impact on the admissions committee members. You could have a 700+ GMAT score and still get rejected form MIT Sloan. You have the most perfect MBA profile and Resume but still not even receive an interview call from the business school.
Why is that?
Why is that some perfect profiles are rejected for some other profiles that have evident flaws like a low GMAT score, no work experience, or a low GPA?
This is because, top business schools like Sloan don’t look at an MBA profile only on the surface. Even if you have a low GPA, a Sloan admissions Committee member will look through your profile to find evidence of academic competency if you have other exceptional skills like leadership, innovation, problem solving etc.
How well you could fit into Sloan’s culture, will be an important deciding factor for your acceptance to the business school.
Let’s take a look at the few things that can sway an admissions committee member’s opinion of you in a positive way.
Show skills that MIT Sloan endorses
Sloan says that they ‘develop principled, innovative leaders who improve the world and to generate ideas that advance management practice’. How do they do it? By choosing students who show potential to be such leaders through their past.
Sloan’s application, if you would pay close attention, is a very past oriented one. It doesn’t mean that they will judge you based on things you did 10 years back, but simply that they find little importance in evaluating who you wish to be. They like to evaluate applicants on who they are right now!
Thus, if your anecdotes in the essays reflect of you having qualities that Sloan stands by, the chances of you getting accepted will be much higher than your peers.
Start your application early
There is no benefit to ending the application early for Sloan. The school’s deadlines are quite stretched out, and submitting an application early only means a longer wait. However, do start your applications early. Take as much time as you wish to, to complete your Sloan application.
I have a very good reason for this.
When applying to Sloan, you won’t be given essay questions that business school usually end up asking. For most business schools, knowing the right content to be used to answer a certain question is almost half the battle won.
When it comes to Sloan, the questions are generic and open ended. What matters is how you choose to answer these questions. Your anecdote about leadership skills won’t be enough for a leadership-based essay in Sloan. The admissions committee at Sloan is not merely interested in what happened. They want to know how you came up with the solution, what were you thinking. So, take time to analyze your approach to these questions and take time to formulate the answers.
Focus on pre-MBA networking
Every business school wants to know exactly why you chose them, so does Sloan.
The only real way to answer this question is by doing some pre-MBA networking. This will also portray you as taking initiative in the eye of an admissions committee member. However, don’t let your research for the school be limited to networking only.
If possible, attend the school’s admissions events or even take a class visit. The better you know the school, the more authentic and real your answer will be to the question, ‘Why Sloan?’.
Show potential to deal with academic rigor
As I told you in the beginning of this blog, Sloan is an action driven, academically and professionally inclined business school. It allows its students to learn by performing. Although it might sound much easier than getting buried in MBA books and Presentations, it is not.
The Action Laboratory concept that Sloan works on leaves almost no space for a student to slack in. such a course requires a student who can keep up with its rigor and won’t give away half-way through the year. Adding extra certifications or courses to your profile, that show your capability to handle a demanding curriculum cou0ld go a long way in convincing the admissions committee members of your capability to handle and optimize the Sloan MBA program.
The Cover Letter is the most important
The Cover Letter is the part of the Sloan application that is dreaded by most applicants. It is almost as if you were given a blank sheet and asked to draw anything you think would convince someone to ban plastic straws forever.
How do you do that? What would move someone enough to ban such a widely used commodity?
Similar are the questions that students ask themselves while writing the cover letter. Sloan explains what type of content they expect to see in your cover letter as follows.
‘MIT Sloan seeks students whose personal characteristics demonstrate that they will make the most of the incredible opportunities at MIT, both academic and non-academic. We are on a quest to find those whose presence will enhance the experience of other students. We seek thoughtful leaders with exceptional intellectual abilities and the drive and determination to put their stamp on the world. We welcome people who are independent, authentic, and fearlessly creative — true doers. We want people who can redefine solutions to conventional problems, and strive to preempt unconventional dilemmas with cutting-edge ideas. We demand integrity and respect passion.’
How do you address this?
Your Sloan application does not have a goals essay. It pretty much has no questions that can predict your employability post the MBA program. Use your cover letter as a space to provide your predictive value to the school. Make them aware of how a Sloan MBA would bridge the gap between who you currently are and who you wish to be.
The cover letter can be the game changer in your application if you use the space correctly.