2021-2022 ALUMNI CAREER MOBILITY SURVEY RESULTS Class of 2011 and Class of 2016 master’s degree graduates.
Respondents
Total 129* Master of Business Administration (MBA) 52.7% Leaders for Global Operations 10.1% Master of Finance 9.3% Sloan Fellows MBA 14.7% Executive MBA 10.9% Master of Science in Management Studies 2.3% Respondents by Class Year Class of 2016 Class of 2011 40.3%59.7% * The survey response rate for 2021 was 11.6%.
SECOND ANNUAL ALUMNI CAREER MOBILITY SURVEY
Dear Classes of 2011 and 2016, Thank you for your participation in MIT Sloan’s second annual alumni career mobility and career pathways survey! We are grateful to the graduates who shared where their career journeys have taken them over the last 5 and 10 years since their graduation from MIT Sloan. This survey helps us gather longitudinal insights about alumni career paths and experiences, and guides us in pursuing data informed approaches that support both student and alumni career opportunities and advancement. We appreciate the commitment of all who completed surveys this year! Our next survey launches in the fall of 2022, and goes out to the Class of 2012 and the Class of 2017. We look forward to sharing more about Sloanies’ career paths and success.
Susan Sandler Brennan Assistant Dean MIT Sloan
Career Development Office Alumni Career Mobility Survey 2021 2022 | Page 2
Degree
In the fall of 2021, we surveyed a sample of the master’s degree alumni from the Class of 2011 and Class of 2016 as participants in the National Alumni Career Mobility (NACM) survey, organized by the Career Leadership Collective. Graduates from across MIT Sloan’s master’s degree programs completed the survey, providing information about their career path, salary, and activities they pursued at MIT Sloan that contributed to their career development. by Program
Alumni Career Mobility Survey 2021 2022 | Page 3 Current Roles/Functions 22.5% AccountingFinance/ 15.3% General Management 14.4% Marketing/Sales 12.6% Consulting 8.1% Business Development 8.1% Operations/Logistics 19.0% Other Current Industries 35.7% Technology 20.5% Financial Services 12.5% Healthcare 11.6% Consulting 5.4% Government/Non Profit 14.3% Other Top Industries HealthcareFinancialTechnologyServices Consulting Top Roles/Functions ConsultingMarketing/SalesGeneralFinance/AccountingManagement Full Time Employment 90.4% Business Owner 15.8% Founder of a Company or Non Profit 13.2% Self-Employment 2.6% Contractor 1.8% Other2 3.6% Current Employment Status1 of Respondents 1 Total is greater than 100% as alumni may be engaged in multiple employment activities. 2 Other includes earning additional degrees, engaged in service work (Americorps, Peace Corps, etc.), part time employment, or employed in multiple roles. 92% My current position is related to my career goal. 91% My position provides opportunities for learning and development. Career Satisfaction EMPLOYMENT OVERVIEW
Job Level: 5 Years After Graduation MIT SLOAN CLASS OF 2016 Currently earn a higher income than the household in which they grew up. 79.2% Economic Mobility 10.4% Founded a Company or Non Profit. 10% Currently own their own business. Entrepreneurship 7.3% 11.8% 44.1% Senior, Executive, and Top ManagementLevel 36.8% Mid ManagementLevel First Level Management Intermediate/ Experienced Total Income 0% 5% 10% 15% 20% 25% 30% 35% Less than $100,000 $100,000 $199,999 $200,000$299,999 $400,000 $499,999 $500k+$399,999$300,000 Up to $299,000 $300,000 and above 59%41% Summary Salary Distribution Of survey respondents are in top level or middle level management roles 80.9% 5 Years Post-Graduation Alumni Career Mobility Survey 2021 2022 | Page 4
MIT SLOAN CLASS OF 2011 Job Level: 10 Years After Graduation Currently earn a higher income than the household in which they grew up. 80.8% Economic Mobility 18.9% Founded a company or non profit. Entrepreneurship Total Income 0% 5% 10% 15% 20% 25% 30% 35% Less than $100,000 $199,999$100,000 $200,000 $299,999 $499,999$400,000 $500k+$399,999$300,000 Up $299,000to and$300,000above 60%40% Summary Salary Distribution Of survey respondents are in top level or middle level management roles. 88.4% 7.0% 4.6% 69.8% Senior, Executive, and Top ManagementLevel 18.6% Mid ManagementManagementLevelFirstLevelIntermediate/Experienced 25% Currently own their own business. 10 Years Post-Graduation Alumni Career Mobility Survey 2021 2022 | Page 5
CAREER PATHS AFTER GRADUATION Finance 71% of alumni who accepted a role in the Technology industry after graduation are currently employed in technology. Alumni Career Mobility Survey 2021 2022 | Page 6 INDUSTRIES WITH HIGH RATES OF RETENTION Technology 1% Consulting 8% Finance 14% Other 2% Pharma/Health/Biotech 71% Technology 4% Retail/CPG 63% of alumni who accepted a role in the Finance industry after graduation are currently employed in finance. Primary Path → Finance Technology and Finance consistently rank in the top three industries where new graduates accept offers of employment. Graduates who enter these industries are more likely to be in these industries at the 5 and 10 year point in their careers. 6% Consulting 63% Finance 10% Other 14% Technology 2% Retail/CPG 5% Pharma/Health/Biotech Primary Path → Technology 1 2 TechnologyPost-GradIndustry:Post-GradIndustry:Finance
27% of alumni who accepted a role in the Consulting industry after graduation are currently employed in consulting. 27% Consulting 13% Finance 17% Other 11% Pharma/Health/Biotech 26% Technology 6% Retail/CPG
24% of alumni who accepted a role in the Retail/CPG industry after graduation are currently employed in Retail/CPG. 8% Consulting 18% Finance 15% Other 3% Pharma/Health/Biotech 32% Technology 24% Retail/CPG
While 27% of respondents remained in Consulting, 73% of graduates that entered Consulting made transitions to other industries by the 5 or 10 year mark after graduation. Similarly, 24% of respondents who entered Retail/CPG have stayed in the industry, 76% transitioned to other industries.
Transitions to → Technology, Finance, Pharma/Health/Biotech.
CAREER PATHS AFTER GRADUATION
Retail/CPGPost-GradIndustry:
ConsultingPost-GradIndustry:
Transitions to→ Technology, Finance, Consulting, and Pharma/Health/Biotech. Retail/CPG Consulting
INDUSTRIES WITH HIGH RATES OF CAREER TRANSITION
21 Alumni Career Mobility Survey 2021 2022 | Page 7
47% of alumni currently working in the Technology industry made career transitions from other industries. CAREER PATHS AFTER GRADUATION 53% of alumni currently working in the Pharma/Health/Biotech industry transitioned from other industries. Consulting 27% Finance 10% Other 8% Pharma/Health/Bio 47% Technology 6% Retail/CPG 2% Consulting 19% Finance 8% Other 11% Pharma/Health/Bio 2% Technology 53% Retail/CPG 7% POPULAR INDUSTRY DESTINATIONS FOR CAREER SHIFTERS Of the Sloanies making a career pivot in the first 5-10 years after MIT Sloan, many find opportunity in these top industries: Technology and Pharma/Health/Biotech. Pharma/Health/ Biotech Technology21 Industry:Current Technology BiotechPharma/Health/Industry:Current Alumni Career Mobility Survey 2021 2022 | Page 8
HIGH-IMPACT CAREER MOBILITY PRACTICES The Career Leadership Collective has conducted research into factors that influence alumni career mobility, and identified six High Impact Career Mobility Practices: 1. Internships or experiential learning 2. Receiving helpful career advice 3. Creating a career plan 4. Networking opportunities with employers 5. Understanding career opportunities 6. Critical thinking skills increased critical thinking skills. received career advice from the participatedCDO.in experiential learning activities at MIT Sloan. said their school helped them network with employers and alumni. 2X more Sloanies Internships • Projects • Labs • Centers • Student Clubs Up to 85% Over 75% NACM national average of students receiving career advice from their career office is 35%. gained Career & Self-Development competencies. 3X more Sloanies Compared with NACM average: said their career team/CDO was the most helpful resource for career advice. Compared with NACM average: 81% 95% HIGH IMPACT PRACTICES @ MIT SLOAN Alumni Career Mobility Survey 2021 2022 | Page 9
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