Highlights of the MIT Careers Office 2007 Graduating Student Survey

By Melanie Parker, Executive Director, MIT Careers Office

The MIT Careers Office is pleased to provide the results of the MIT Class of 2007 Graduating Student Survey, providing information about the immediate post-graduation plans of all graduating MIT students. 1,432 of the 2,110 June 2007 graduates responded, representing 68 percent of the graduating class. This report represents a collaborative effort between this office, IS&R, and Institutional Research. I particularly want to thank John Nonnamaker, Associate Director for Graduate Student Career Services, for his leadership of this survey. The results reflect a strong job market for MIT graduates, as shown in the following highlights:

The undergraduate placement rate (full-time employment or graduate studies) for the Class of 2007 is 89 percent, representing a slight increase over 2005-06. Master of Science, Master of Engineering and MBA degree recipients saw placement rates of 87 percent, 93 percent and 95 percent, respectively. PhD graduates reported a placement rate of 91 percent.

On-campus recruiting continues to be a primary source of employment as reported by 53 percent of bachelor’s, 40 percent of master’s and 16 percent of doctoral degree recipients. Over 540 employers recruited through the Careers Office in 2006-07, a 27 percent increase over 2005-06. Networking and internships that led to a job offer represented the next highest methods. Graduates reporting that their internship led to a full-time job grew by 5 percent over 2005-06, emphasizing the importance of internships.

Seventy three percent of undergraduates and 94 percent of Master’s students indicated that their position was related to their academic major. Nearly half of all accepted offers were with consulting and finance firms, which may belie the preceding statement. These employers seek out our graduate for their analytical and problem solving skills, which are characteristic of an MIT education. To both the students and the employers, these opportunities are directly related to academic major.

The average salary for undergraduates was $61,260, a 3.7 percent increase from the $59,072 averages for 2006 graduating seniors. Nearly all other degree levels saw an increase. This represents the third year of salary increases for graduating seniors, and multi-year increases for most graduate degree recipients.

Another measure of job market strength for the Class of 2007 was that over 60 percent secured their position by December 2006, compared to 50 percent in 2006.

The early indications for the Class of 2008 are that employers expect to increase college hiring by 16 percent, representing the fifth consecutive year of double-digit increases. Salaries are also projected to increase, as well as the use of hiring bonuses, an indicator of how competitive employers expect this year’s job market to be (Job Outlook 2008, National Association of Colleges and Employers, November 2007).

The full report is available on-line at http://web.mit.edu/career/www/infostats/graduation07.pdf, and provides a broad snapshot of the professional and education destinations for the MIT Class of 2007. We welcome any comments or suggestions from the MIT community regarding ways that we may improve our survey process or reporting. Thank you!