MBA Spotlight Series: MIT Sloan
What do Buzz Aldrin, the second man to step on the moon; Richard Feynman, the infamous physicist; and Kofi Annan, the former Secretary General of the United Nations all have in common?
Well, they all went on to dominate their fields throughout their lives, but their journeys all began at the same centre of education: the Massachusetts Institute of Technology.
Founded in 1861, the Massachusetts Institute of Technology (MIT) stands proudly as a leader in innovation, science, and business. As the name indicates, the university is located in Cambridge, Massachusetts, spread across a 26-acre campus.
MIT’s MBA program is housed in the Sloan School of Management, which also offers programs such as Masters in Finance and Masters in Business Analytics.
For the Class of 2023 (matriculating fall 2021), the MBA program has three application rounds, with the first deadline on 1st October 2020. The average full time work experience of the current MBA batch is 5 years, with a median GMAT score of 730.
The program was ranked 8th and 6th in the FT Global MBA rankings for 2019 and 2020 respectively.
Key Program Details
Experiential learning: MIT’s university’s motto is “Mens et manus”, which translates to Mind and Hand, indicating the school’s emphasis on combining knowledge with practical application. The school provides one of the most hands-on MBA experiences through its emphasis on action learning and problem-led leadership.
Alumni strength: MIT has over 120,000 alumni in over 90 countries, spread across a range of industries, sectors, and functions. Apart from alumni holding senior positions in various established companies, there are also an incredible 30,200 active alumni-founded companies running successfully.
Entrepreneurial hub: As should be evident by the number of active alumni companies mentioned earlier, MIT is an immensely innovative environment which encourages young entrepreneurs to start their own ventures. The school has 15 action learning labs, and access to 103 venture capital firms in the Cambridge area itself, not to mention close access to the Boston and New York areas.
The MBA application for MIT is fairly intensive, and consists of a cover letter, academic performance, test scores, professional experiences, a video statement, an organisational chart, and recommendations. The MIT website states that the school looks for demonstrated evidence of a few key characteristics in successful applicants,