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Employment Report


Despite a changing economy, 87% of the Class of 2001 found employment within 3 months of graduation. After a record year in terms of interview schedules and companies recruiting on campus, students found that fewer offers were extended this year over the year prior. Still, many found jobs in their industries of choice.

Recent trends indicate that a few graduates had offers deferred or were layed off within a few weeks of starting their jobs. These updates are not reflected in our numbers, because in most cases, their circumstances changed more than 3 months after graduation. We are continuing to offer Career Management to students in this unfortunate situation and we thank the alumni who have stepped in to help.

The top industry for Haas MBAs this year was Financial Services, with 32% of the class accepting positions in the Financial Services sector and 19% of them in Investment Banking. This replaced Technology as the #1 industry, which was the top choice for the Class of 2000. 24% of the MBA graduates accepted positions in Technology, versus 38% last year, but this year students tended to select larger, more established firms like Siebel Systems, Hewlett-Packard and Apple. In fact, removing the Internet companies from the Technology total, the Technology number actually increased slightly year over year. Consulting continues to be a popular choice among Haas students, representing about 26% of the class. Haas students have always chosen a variety of different careers paths and this year was no exception.

The average starting salaries for graduates continue to increase, but at a decreasing rate over years prior. For example, the mean salary for Haas MBAs in the Class of 2001 was $94,250, a 4.7% increase over last year whereas Class of 2000 and Class of 1999 salaries increased by 10.8% and 7.5% respectively.

Please find these details and more in our Career Report that follows.

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A Profile: 232 students

Women 33%
Minority 22%
International 31%
Average age at enrollment 28 years
Average work experience 5 years


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Top Industries:

Financial Services 32%
Consulting 26%
Technology 24%


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Top Functions:

Finance 35%
Consulting 29%
Marketing 17%
General Management 14%


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Top 10 Employers:

Accenture
Clorox Company, The
Credit Suisse First Boston
Dain Rauscher Wessels
Deloitte Consulting
Goldman, Sachs and Company
Hewlett-Packard Company
McKinsey and Company
Samsung Group
Siebel Systems, Inc.

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Haas Salary History

2001 avg. base $94,300.00
2001 avg. bonus 46,800.00

2000 avg. base $90,000.00
2000 avg. bonus 45,600.00

1999 avg. base $81,200.00
1999 avg. bonus 31,400.00

1998 avg. base $75,500.00
1998 avg. bonus 29,100.00

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Average Salary by Function

Average of Salary by Function % Avg Of Salary Avg Of Total Bonus¹
Consulting 30% 102,793 47,307
    Consulting - General 6% 98,333 64,265
    Consulting-Financial/Investments 1% N/A N/A
    Consulting-Healthcare 2% 100,667 35,400
    Consulting-Management/Strategy 20% 104,266 44,363
    Consulting-Technology 1% N/A N/A
General Management 14% 91,909 32,744
    Business Development 7% 86,000 33,136
    General Management 2% 85,250 20,000
    Human Resources 1% N/A N/A
    Internal Consulting 1% N/A N/A
    Project Management 1% N/A N/A
    Strategic/Business Planning 2% 123,333 69,500
Entrepreneurship 2% 109,000 0
Finance 34% 89,966 60,691
    Private Industry Finance 7% 87,918 34,330
    Commercial Lending 2% 77,000 50,000
    Corp. Fin/Invest Bank/M&A 11% 86,471 82,500
    Investment Portfolio Management 2% 106,250 50,000
    Private Client Services 2% 86,250 50,875
    Research 4% 85,000 68,583
    Sales & Trading 1% N/A N/A
    Venture Capital 5% 105,375 47,500
Marketing 16% 91,593 32,365
    General Marketing 1% N/A N/A
    Brand/Product Management 14% 90,955 30,676
    Market Research 1% 98,333 42,667
Real Estate 3% 89,375 34,625
    Development 2% 90,833 33,000
    Finance 1% N/A N/A
Other 1% N/A N/A
Grand Total 100% 94,255 46,861



¹ Average Total Bonus includes signing bonus, annual bonus, proposed performance bonus, educational reimbursement, relocation expenses and other bonuses.

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Average of Salary by Industry

Average of Salary by Industry % Avg Of Salary Avg Total Bonus¹
Airlines/Auto/Travel 1% N/A N/A
Consulting 26% 105,155 45,689
Consumer Products/Retail 6% 80,800 33,070
Entertainment 1% N/A N/A
Financial Services 32% 89,933 65,340
    Comm'lBanking 3% 77,600 42,400
    Divsfd Fin Svcs 3% 85,833 89,500
    IBD/Brokerage 19% 89,350 69,845
    Inv/Portf Mgmt. 4% 96,667 52,667
    Venture Capital 3% 102,600 44,125
Healthcare/Biotech/Pharm 3% 79,250 14,333
Not for Profit/Education 1% N/A N/A
Real Estate 3% 81,500 33,700
Technology 24% 98,067 27,798
    Internet 6% 97,222 12,643
    Hardware, Electronics & Semiconductors 6% 90,178 20,109
    Software 7% 97,583 36,492
    Telecommunications 3% 106,167 37,917
    Diversified High Tech 2% 110,000 41,667
Utilities/Energy 1% N/A N/A
Widely Diversified Mfg 2% 95,000 57,642
Grand Total 100% 94,255 46,861



¹ Average Total Bonus includes signing bonus, annual bonus, proposed performance bonus, educational reimbursement, relocation expenses and other bonuses.

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Job Offer Source Data

The chart and data beneath it show the sources of jobs as reported by the students.



Haas On-Campus Recruiting (incl interview, resume drop, job fair) 51%
Haas Career Center Job Listing (job board or emailed directly) 5%
Haas Contact (Alumni, Faculty, Student, etc.) 8%
Haas Resume Database 2%
Haas event (networking event, Haas @ Work, speaker, etc.) 2%
A full 68% of all jobs came from Haas Sources
Summer Internship 7%
Former Employer (not sponsored) 2%
Own Business 4%
Company Sponsored Student 3%
Other 16%
  100%

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Class of 2001 - Full Time Positions by Region


Location % Average Salary Average Total Bonus
United States 79%    
    West 69% 95,848 44,854
    Middle Atlantic 2% 93,333 29,833
    Midwest 1% N/A N/A
    Northeast 5% 90,625 54,688
    South 2% 84,375 45,750
International 21%    
    Asia 9% 100,000 62,161
    Central South America 4% 89,333 54,000
    Europe 8% 87,321 47,571
      100% 94,255 46,707


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Should you have any further questions about these statistics, please don't hesitate to contact us at recruiting@haas.berkeley.edu.



MBA Class of 2002, Summer Internships

Even though the economy had started to soften, 96% of the job-seeking Class of 2002 were successful finding internships last summer. The financial services sector and the technology sector were top industry choices for Haas students, although students accepted positions in a wide variety of industries and firms. Consulting remained competitive this year with 13% of the class finding positions for the summer in management consulting firms, amid cutbacks. Students most commonly were placed into finance, marketing, consulting or general management positions in their firms.

Biotechnology/pharmaceuticals and consumer products companies were the largest growth industries for internships, representing 10% and 8% of the class respectively.

Please find these details and more in our Career Report that follows.

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A Profile: 255 students

Women 31%
Minority 27%
International 31%
Average age at enrollment  
Average work experience  


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Top Industries:


Financial Services 27%
Technology 26%
Consulting 13%


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Top Functions:


Finance 32%
Marketing 30%
Consulting 18%
General Management 15%


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Top 10 Employers:

Accenture
Apple
Bristol-MyersSquibb
DeloitteConsulting
FordMotorCompany
Hewlett-PackardCompany
HSBC
LehmanBrothers
SunMicrosystems
WellsFargoBank

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Average of Salary by Function


Average of Salary by Function % Avg Of Salary Avg Of Total Bonus¹
Consulting 18.4% 6,511 7,115
    Consulting-General 7.8% 6,594 9,125
    Consulting-Financial/Investments 1.5% 6,333 12,250
    Consulting-Healthcare 0.5% N/A N/A
    Consulting-Management/Strategy 7.8% 6,339 4,880
    Consulting-Technology 1.0% N/A N/A
General Management 15.0% 4,982 32,744
    Business Development 4.4% 4,511 6,500
    General Management 0.5% N/A N/A
    Human Resources 0.5% N/A N/A
    MIS 0.5% N/A N/A
    Ops/Production Mgmt 1.5% 5,506 0
    Project Mgmt 1.5% 5,555 2,000
    Strategic/Business Planning 6.3% 4,977 4,230
Entrepreneurship 1.0% 4,000 1,000
Finance 32.0%% 6,056 7,097
    Private Industry Finance 8.3% 5,555 5,000
    Commercial Lending 0.5% N/A N/A
    Corp. Fin/Invest Bank/M&A 11.2% 6,470 6,868
    Investment Portfolio Management 2.4% 6,300 0
    Private Client Services 2.4% 6,970 14,483
    Research 3.9% 6,778 5,000
    Sales & Trading 0.5% N/A N/A
    Venture Capital 2.9% 5,920 5,750
Marketing 29.6% 5,333 5,803
    General Marketing 10.7% 5,218 3,400
    Brand/Product Management 14.1% 5,571 7,332
    Communications/PR 0.5% N/A N/A
    Market Research 3.9% 4,920 N/A
    Merchandising/Retail/Sales 0.5% N/A N/A
Real Estate 1.9% 5,175 2,500
    Consulting 0.5% N/A N/A
    Development 1.0% N/A N/A
    Finance 0.5% N/A N/A
Other 1.9% 6,271 3,333
Grand Totalg 100.0% 5,795 6,202


¹ Average Total Bonus includes signing bonus, annual bonus, proposed performance bonus, educational reimbursement, relocation expenses and other bonuses.

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Average of Salary by Industry


Average of Salary by Industry % Avg Of Salary Avg Total Bonus¹
Advertising/Marketing Services/Publishing 1.0% N/A N/A
Airlines/Auto/Travel 2.4% 5,800 12,500
Consulting 12.6% 7,821 7,016
Consumer Products/Retail 7.8% 5,279 2,800
Utilities/Energy 1.5% 6,578 2,500
Entertainment 1.0% N/A N/A
Financial Services 26.2% 6,087 7,130
    Comm'lBanking 4.4% 5,265 4,500
    Divsfd Fin Svcs 2.9% 6,533 8,389
    Inv/Portf Mgmt. 4.9% 6,535 4,240
    IBD/Brokerage 11.2% 6,605 7,873
    Venture Capital 2.9% 3,840 4,250
Government 1.0% N/A N/A
Healthcare/Biotech/Pharmaceuticals 9.7% 5,729 11,667
Insurance 0.5% N/A N/A
Not-For-Profit 3.9% 2,775 0
RealEstate 2.4% 5,625 2,500
Technology 27.2% 5,554 2,959
DiversifiedHighTech 2.9% 4,126 1,500
Electronics, Hardware & Semiconductors 11.2% 5,545 3,155
Internet 5.3% 6,305 2,600
Software 5.3% 5,065 2,967
Telecommunications 2.4% 6,727 0
Widely Diversified Mfg 0.5% N/A N/A
Widely Diversified Svcs 0.5% N/A N/A
Other Industry 1.8% 3,611 2,000
Grand Total 100.0% 5,795 6,202


¹ Average Total Bonus includes signing bonus, annual bonus, proposed performance bonus, educational reimbursement, relocation expenses and other bonuses.

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Job Offer Source Data

The chart and data beneath it show the sources of jobs as reported by the students.




Haas On-Campus Recruiting (incl interview, resume drop, job fair) 39%
Haas Career Center Job Listing (job board or emailed directly) 15%
Haas Contact (Alumni, Faculty, Student, etc.) 13%
Haas Resume Database 2%
Haas event (networking event, Haas @ Work, speaker, etc.) 3%
A full 72% of all jobs came from Haas Sources
Former Employer (not sponsored) 2%
Own Business 1%
Company Sponsored Student 2%
Other 23%
  100%

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Class of 2002 - Summer Internships by Region


Location % Average Salary Average Total Bonus
United States 84%    
    West 72% 5,797 6,344
    Midwest 3% 5,548 7,250
    Northeast 8% 6,158 4,927
    South 1% N/A N/A
International 16%    
    Asia 8% 5,172 7,884
    Central South America 3% 4,200 5,375
    Europe 4% 7,435 7,455
    Africa* 1% N/A N/A
      100% 5,795 6,200


*Less than one percent of the population reported a position in Africa for the summer. Consequently the number is slightly exaggerated.

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Should you have any further questions about these statistics, please don't hesitate to contact us at recruiting@haas.berkeley.edu.