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MIT MFin 2011 MIT MFin Placement Report

Sushant

Active Member
Is it just me, or the report really does not tell what percentage of student did finally manage to get employed? It just tells you what percentage of total students were seeking employment, not how many of them actually got employed within 3 months, which is what I guess prospective students would be much more interested in. Funny that no one finds it odd.
 

aaronhotchner

Well-Known Member
Is it just me, or the report really does not tell what percentage of student did finally manage to get employed?

"85.0% of job seeking students received an offer by graduation. 91.5% received an offer by three months after graduation. 89.4% received and accepted offers by three months after graduation."
 

aaronhotchner

Well-Known Member
Well i think one reason why MIT placement is poor compared to Columbia MFE or CMU MSCF is because their program is not true Quant program. I would not expect any better by any 1 year program in Finance.

3 months after graduation
MIT 2011 placement: 89.4%
CMU 2011 placement: 92%

How is MIT's placement "poor"?
 

Wowbagger

Earning Theta
Aaron, it talks only about "job seeking students" - and conveniently does not include about 18-odd percent of the students who "chose" to postpone their job search. Very bad numbers, on the back of a 1-month delay.

If they can't place 60 students, how will they place 120 this year?
 

aaronhotchner

Well-Known Member
Wowbagger, they are not going to include people who do not respond as job-seeking. It's like a country's unemployment rate -- people who don't want jobs can't be considered unemployed, just like graduates who aren't looking for jobs can't be considered not placed. I guarantee CMU and every other college uses the same methods, whether they announce it or not.
 

Wowbagger

Earning Theta
I agree with your argument, Aaron. But it is extremely fishy that 18% of their batch decided - in this bad job market - that they wanted to postpone their job search.

Not only does CMU state the reason for excluding a student from their job-seeker pool, they also show which geographies their students were employed in: http://tepper.cmu.edu/corporations-...011-mscf-graduates-status-of-class/index.aspx and http://tepper.cmu.edu/corporations-...raduates-compensation-by-geography/index.aspx

Just for the record, ZERO students from CMU postponed their job search last year.

They adhere to the MBA CSC standards. I think MIT Sloan is just trying to gloss over the numbers - even then, they couldn't change the $30k low figure. These are bad numbers, and there's no point denying it. We can just hope that the next ones would be better.
 

bansalmohit

Well-Known Member
Well they even added another round of admissions. This clearly shows they didnot get good applicants and the ones which were admitted are backing out. Shame on MIT brand.
 

Wowbagger

Earning Theta
bansalmohit, let's not generalize. There's no reason to say that the MFin program isn't good. It's just that their placement statistics are not as good as they want us to believe.

And "Shame on MIT brand"? Why the hatred, mate?
 

Andy Nguyen

Member
Well i think one reason why MIT placement is poor compared to Columbia MFE or CMU MSCF is because their program is not true Quant program. I would not expect any better by any 1 year program in Finance.
I do not believe Columbia MFE releases any detailed placement stats. How did you compare?
Also, MIT MFin is not an MFE program so it's orange and apple.
 

Jayanthan

Well-Known Member
Princeton has 100% rate. I think, Princeton has three different track within their MFin program.

Andy: Do you have the similar report for Princeton by any chance? Thank you.
 

ICQuant

Active Member
Well i think one reason why MIT placement is poor compared to Columbia MFE or CMU MSCF is because their program is not true Quant program. I would not expect any better by any 1 year program in Finance.
Where did you get your funny information about Columbia from? They have been suffering placing their students for 3 years now mate!
 

Andy Nguyen

Member
Andy: Do you have the similar report for Princeton by any chance? Thank you.
The only MFE programs that release yearly report with useful detailed info that I'm aware of: Baruch MFE, UCLA MFE, UCB MFE, CMU MSCF.
Notice that except Baruch MFE, the other programs are offered by their business school which making these info available is the norm.
 

PennyLess

Active Member
The statistics is presented in a strange manner. I know of at least two students going straight to phD finance programs, and there could be more. Yet the employment report just lumped them into the "postponing job search" section. Someone in the class of 2011 just commented on the 30k figure. It's a for a student working with sovereign funds in Asia where the tuition+living cost for his 4 years of undergrad and master at MIT were all paid for. The student is committed to going back to working for this fund, but 30k is a good salary in that country.
 

darth

Well-Known Member
The statistics is presented in a strange manner. I know of at least two students going straight to phD finance programs, and there could be more. Yet the employment report just lumped them into the "postponing job search" section. Someone in the class of 2011 just commented on the 30k figure. It's a for a student working with sovereign funds in Asia where the tuition+living cost for his 4 years of undergrad and master at MIT were all paid for. The student is committed to going back to working for this fund, but 30k is a good salary in that country.

This absolutely makes sense. MIT receives very large number of applications and has an impeccable and Immaculate reputation.
It's just that they have not polished or sugarcoated their placement stats like other schools.
 

Wowbagger

Earning Theta
The statistics is presented in a strange manner. I know of at least two students going straight to phD finance programs, and there could be more. Yet the employment report just lumped them into the "postponing job search" section. Someone in the class of 2011 just commented on the 30k figure. It's a for a student working with sovereign funds in Asia where the tuition+living cost for his 4 years of undergrad and master at MIT were all paid for. The student is committed to going back to working for this fund, but 30k is a good salary in that country.
Can you share your source for the $30k comment, Pennyless? As an international student with a Class of 2013 admit, I would like to know as much about the veracity/distribution of these stats as possible.
 

PennyLess

Active Member
Can you share your source for the $30k comment, Pennyless? As an international student with a Class of 2013 admit, I would like to know as much about the veracity/distribution of these stats as possible.

The source is from the MIT MFin Class of 2012 facebook group. We have been more actively discussing this employment report than you have here. ;) We were really curious about some of these figures and want to clarify some things up. Although that group is a closed group for students of the current class, we have retained some students from the class of 2011 in the group to be our academic/career peer advisors. They provided their comments on the employment report.

Just another quick comment for those interpreting the salary figures. There are 20% of students from that class that went into investment banking. The base salary is not a very good indicator of their actual earnings for the year.

Also, got confirmed that another girl was in "postponed job search" because she got married right after graduation.
 

Andy Nguyen

Member
The statistics is presented in a strange manner.
As current student, you are in a better position than many people here to make suggestion to improve future reports, correct?
If some of these figures look strange and curious to you and current students, you can imagine what it will be for prospective applicants.
 

AMANE

Active Member
if these stats are true, mit will need to improve its performance to attract international student, student will first think about paying off his debts rather than brand.
 
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