MIT MFin MIT Master of Finance Employment Statistics?

[bigbadwolf]

two grads out of 1690 grads

From the same source:

The starting salary alone was more than three times as much as the median pay–$110,000–of the MBA’s classmates and 14 times the $25,000-a-year job the lowest-paid Wharton MBA assumed.

For the two who were offered $350,000, there was probably more involved than their Wharton degree. Either they had years of prior relevant experience or they were known to the company who hired them (sons or nephews of the owners?). Why pay so much over the odds when the median is $110,000?

 

[PennyLess]

The MIT MFin program is easily the program with the most applications again and it would be interesting to know which employers hired their 58 graduates in the current class. Campus recruiting goes from September to December so they probably have some of that information if they want to share it. The percentage of the class placed as of December might also be a benchmark of how reputable that program is today.

On a separate note, when I was an undergrad at NYU I have also heard that some of the school's MBA grads going into PE accepted offers with 300k+ in base salary. It's possible for people with pre-MBA experience in the IB divisions of top banks or previous PE experience.

 

[Andy Nguyen]

I don't see Goldman Sachs, Deutsche Banks, BNP, DE Shaw, Fortress, GIM on the list of their employers. The newsletter makes the impression that these are the ones that hired their graduates.

Here is the follow up email from Julie Strong - Senior Associate Director of MBA Admissions

Hi Andy:

The only career numbers we have are from the class of 2010. The references in the newsletter are representative of what is happening in the career office this year. Numbers for the Class of 2011 will not be released until the fall. The usual survey which to this point has followed our MBA career survey is three months after graduation.

Thanks for joining us on the chat.

Regards,
Julie

And here are the transcripts of the online chat with MFin today

 

[Andy Nguyen]

The placement number for June 2011 MIT MFin graduates. Note that these numbers are not final and subject to changes.

following is a list of the placement percentages (and number of students) for each role / industry. Roughly 48/58 (or 84%) has been placed.

Research Analyst (Investment management or IB) - 16% (8 people)
Quantitative Analyst - 2% (1 person)
Sales and Trading - 12% (6 people)
Structured Products - 4% (2 people)
IBD - 16% (8 people)
Private Equity - 4% (2 people)
Hedge Fund - 2% (1 person)
Quantitative Trading - 4% (2 people)
Investment Consulting - 2% (1 person)
Financial services strategy consulting - 16% (8 people)
Risk Management - 6% (3 people)
Corporate Banking Analyst - 4% (2 people)
Development Finance - 2% (1 person)
Compliance and Regulatory - 2% (1 person)
Private Wealth Mgt - 4% (2 people)

 

[Wowbagger]

I subscribe to MIT Sloan newsletter to get updates on the MFin program. They send out about a dozen email a month. In the email I received this morning, there is something interesting that caught my attention.
Here is the newsletter in detail

I highlight the part where I find it interesting. If you look at the employment report of their first class, here is the list of employers


I don't see Goldman Sachs, Deutsche Banks, BNP, DE Shaw, Fortress, GIM on the list of their employers. The newsletter makes the impression that these are the ones that hired their graduates.
In fact, the only two companies in both list are Barclays and Morgan Stanley.

Another small detail: the list on the Employment Report is alphabetical while the list on the newsletter is arranged by prestige, brand name.

If you see DE Shaw, Fortress, GS, DB on the list, you would come away thinking the MFin program is very quantitative.

What do you think? Am I harping on non-important little points?
I pay a lot of attention to such details because it tells me a lot about how each program markets itself to prospective students who, more or less, are not very savvy when it comes to reading between the lines.

Stumbled upon this thread while I was trying to find more information on the MFin program - I had the very same question, and then I read the statement again - "List of representative employers": These are the kind of companies you would target, but not necessarily the ones that hire from the MFin class. Pretty clever, eh?

 

[Andy Nguyen]

Stumbled upon this thread while I was trying to find more information on the MFin program

Did you read this [wiki]mit-mfin[/wiki]?

 

[Wowbagger]

Yeah, broadly. Which part?

 

[Andy Nguyen]

Nothing in particular. Just want to bring it to your attention. If you feel any other part of information is particularly useful to you and other applicants, let me know and I'll add to it and other wiki entries in the future.

 

[Wowbagger]

Sure, Andy. Though I think the point that I was trying to make was missed. Companies like GS and DE Shaw haven't really hired from MIT Sloan's MFin program, but may find the MFin grads employable. That's why you found so few overlaps in the "representative employers" list and the placement report.

 

[anshuljn]

The placement number for June 2011 MIT MFin graduates. Note that these numbers are not final and subject to changes.

following is a list of the placement percentages (and number of students) for each role / industry. Roughly 48/58 (or 84%) has been placed.

Research Analyst (Investment management or IB) - 16% (8 people)
Quantitative Analyst - 2% (1 person)
Sales and Trading - 12% (6 people)
Structured Products - 4% (2 people)
IBD - 16% (8 people)
Private Equity - 4% (2 people)
Hedge Fund - 2% (1 person)
Quantitative Trading - 4% (2 people)
Investment Consulting - 2% (1 person)
Financial services strategy consulting - 16% (8 people)
Risk Management - 6% (3 people)
Corporate Banking Analyst - 4% (2 people)
Development Finance - 2% (1 person)
Compliance and Regulatory - 2% (1 person)
Private Wealth Mgt - 4% (2 people)

Hi Andy,

I was looking for 2011 employment statistics and found the above numbers posted by you. From where did you get these statistics ? I am not sure whether MIT has released the employment stats for 2011 yet.

And also do you have any idea when they are about to release the same ? Because I guess last year they released in November.

 

[Wowbagger]

Andy Nguyen, any word on the ETA of this year's report? What's taking them so long?

 

[Andy Nguyen]

I emailed them a week ago but no answer yet. Hopefully we will see it next year.

 

[ValueSeeker]

Andy, I'm sure you will see it next year and I wouldn't be so perpetually concerned.

 

[bansalmohit]

Andy, I'm sure you will see it next year and I wouldn't be so perpetually concerned.

you seemed to be lot more concerned than him.

 

[ValueSeeker]

you seemed to be lot more concerned than him.

My friend, you could not have been anymore wrong.

 

[Andy Nguyen]

MIT just emailed me that they will let me know when the employment stats of 2012 will be made public. So I either will know it when they email me or some members here post it right away when they publish it.