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Employment Report


The graduates of the Class of 2003 tackled a difficult job market with much success and their employment rates were competitive among top MBA programs nationwide. 81% of the job seeking graduates were employed by September 2003, and the Haas School continues to support our graduates who are still looking for work.


Berkeley MBA students have always pursued a wide variety of career paths upon graduation, and this year was no exception. Technology and Financial Services were the top industries of choice among Haas graduates this year, each representing 23% of the class. 16% of the graduates entered the Consulting sector, a slight increase over the year prior. Consumer Products represented 14% of the class. Biotechnology/Medical Devices (7.3%) and Real Estate (6.7%) both continued to be popular fields among graduates of Haas.


Average starting salaries were flat year-over-year. The median starting base salary was $85,000.


Functionally, the graduates continue to focus in the areas of finance, marketing, general management and consulting.


Haas on campus recruitment continues to be the path that most Berkeley MBAs take to find their jobs. However, the Haas community provides numerous resources for students outside of the formal campus recruiting process, too. Alumni leads, Haas career fairs, MBA job postings, Haas faculty contacts and networking with speakers on campus are all commonly cited as sources of jobs for Berkeley MBAs.


We'd like to extend a special thank you to our alumni and recruiters who return to the campus each year to hire some of the brightest talent in the country.



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A Profile: 229 students

Women 29%
Minority 34%
International 33%
Average work experience 5.3 years



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Top Industries:

Financial Services 23%
Technology 23%
Consulting 16%
Consumer Products 14%
Healthcare/ Biotech/ Pharmaceuticals 10%



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Top Functions:

Finance 30%
Marketing 26%
Consulting 21%
General Management 15%



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Top Ten Hiring Companies:

Bank of America
Clorox Company, The
Deloitte Consulting
Gap, Inc.
Johnson & Johnson
LeapFrog Enterprises, Inc.
McKinsey and Company
Microsoft Corporation
Samsung Group
Wells Fargo Bank


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Average of Salary by Industry

Industry % Median of Salary Avg of Salary Avg Signing Bonus Avg Total Other Comp¹
Consulting 16.0% 95,000 89,444 10,545 24,964
Consumer Products/Retail 14.0% 81,000 79,628 14,864 26,034
Financial Services 22.7% 85,000 83,179 14,400 35,600
   Commercial Banking 6.7% 81,000 78,125 10,625 20,163
   Diversified Financial Services 4.7% 82,500 80,667 14,333 36,250
   Investment Banking/    Brokerage 8.7% 85,000 83,636 17,857 44,688
   Investment/Portfolio    Management 6.7% 95,000 100,000 N/A N/A
Healthcare/ Biotech/ Pharmaceuticals 7.3% 90,000 91,100 13,417 26,714
Not for Profit/ Government/ Education 2.6% N/A N/A N/A N/A
Other Industry 6.7% 77,750 80,050 5,000 12,467
Real Estate 6.6% 73,500 72,700 N/A N/A
   Development 2.6% 71,000 65,750 N/A N/A
   Finance 4.0% 79,500 77,333 10,833 N/A
Technology 22.7% 90,000 89,387 16,104 26,375
   Diversified High Tech 0.7% N/A N/A N/A N/A
   Electronics 6.7% 90,000 86,200 17,500 33,563
   Internet 1.3% N/A N/A N/A N/A
   Semiconductors/Hardware 2.7% 89,000 89,500 N/A N/A
   Software 7.3% 82,500 85,600 18,196 26,736
   Telecommunications 4.0% 90,000 96,250 N/A N/A
Utilities/Energy 0.7% N/A N/A N/A N/A
Widely Diversified Mfg 0.7% N/A N/A N/A N/A
Grand Total 100% 85,000 84,353 13,755 27,389


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

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Average Salary by Function


Function Description % Median of Salary Avg of Salary Avg Signing Bonus Avg Total Other Comp¹
Consulting 20.7% 90,000 90,239 11,235 25,553
Entrepreneurship 1.4% N/A N/A N/A N/A
Finance 29.6% 85,000 82,737 14,783 30,203
General Management 14.5% 87,750 86,400 8,643 24,737
Marketing 25.5% 84,000 85,103 16,944 27,587
Other 0.7% N/A N/A N/A N/A
Real Estate 7.6% 77,500 77,600 10,833 27,500
Grand Total 100% 85,000 84,353 13,755 27,389


¹ Average Total Other Comp includes 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 (including interviews, resume drops, resume database and job fairs) 35%
Haas Career Center Job Listing (job board or emailed directly) 7%
Haas Contact or Event 14%


Haas Resources 58%
Former Employer (not sponsored) 5%
Company Sponsored Student 3%
Other 26%



Student Resources 34%
No Response 8%
  100%



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Class of 2003 - Full Time Positions by Region


Location % Average Salary² Avgerage Signing Bonus Average Total Other Comp¹
United States 80.5% 85,625 12,888 25,235
   West 68.8% 85,739 12,527 23,772
   Middle Atlantic 2.6% 78,750 N/A 18,250
   Midwest 1.3% N/A N/A N/A
   Northeast 5.8% 89,714 17,400 40,086
   South 1.9% 82,333 N/A 42,000
International 19.5% 77,752 18,409 37,083
   Asia 9.8% 88,500 20,000 42,421
   Central/South America 5.8% 61,133 21,500 30,778
   Europe 3.2% 74,000 13,167 > 27,125
   Canada 0.7% N/A N/A N/A
100% 84,353 13,755 27,389


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

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MBA Class of 2004, Summer Internships

Despite a challenging environment for jobs, nearly every student was successful finding a summer internship (93%). The summer internship continues to be an important opportunity for an employer and a student to work together to assess a good fit for long-term employment.


28% of the Class of 2004 accepted internship positions in the technology industry. This is reflective of the strong interest for technology jobs on campus and the increase in opportunities available in the technology sector, after a few years of instability. Financial Services was the second most popular industry, representing 23% of the class. The majority of students in finance worked in commercial and investment banks in New York, San Francisco and around the globe. Interest in Biotechnology, Pharmaceuticals and Medical Devices was up significantly this year, and nearly 12% of the class held internships in these fields.


For a complete summary of the internship data, please review the data listed below.


  • 28% Technology
  • 23% Financial Services
  • 12% Biotech and Healthcare
  • 10% Consumer Products
  • 8 % Consulting




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A Profile: 229 students

Women 30%
Minority 34%
International 35%
Average work experience 5.5 years



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Top Industries:

Technology 28%
Financial Services 23%
Healthcare/ Biotech 12%
Consumer Products 10%
Consulting 8%



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Top Functions:

Marketing 31%
Finance 29%
General Management 17%
Consulting 12%



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Top Ten Hiring Companies:

Cisco Systems
Citigroup
Deloitte Consulting
eBay/PayPal
Goldman, Sachs & Co.
IBM
McKinsey and Company
Roche Diagnostics
Sun Microsystems
Wells Fargo Bank

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Average of Salary by Industry


Industry % Median Salary² Avg of Salary²
Airlines/Auto/Travel 1% N/A N/A
Consulting 8% 7,500 5,968
Consumer Products/Retail 10% 4,000 3,752
Education 2% 3,200 3,300
Entertainment/Media/Sports 2% 500 1,668
Financial Services 23% 5,000 4,664
Government 3% 3,000 2,724
Healthcare/Biotech/Pharmaceuticals 12% 5,700 5,304
Not-For-Profit 4% 2,600 2,204
Other Industry 1% 2,252 2,316
RealEstate 4% 4,332 4,840
Technology 28% 5,600 5,412
Utilities/Energy 2% 6,252 6,568
Grand Total 100% 5,200 4,768


² Average Salary shown is monthly salary.

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Average of Salary by Function

Average of Salary by Function % Median Salary² Avg of Salary²
Consulting 12% 5,916 5,216
Entrepreneurship 1% N/A N/A
Finance 29% 5,100 4,776
General Management 17% 5,600 5,072
Marketing 31% 5,000 4,360
Real Estate 5% 5,606 5,172
Other 5% 3,752 4,196
Grand Total 100% 5,200 4,768


² Average Salary shown is monthly salary.

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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 (including interviews, resume drops, resume database and job fairs) 31%
Haas Career Center Job Listing (job board or emailed directly) 16%
Haas Contact or Event 14%



Haas Resources 62%
Former Employer (not sponsored) 1%
Company Sponsored Student 1%
Other 33%



Student Resources 35%
No Response 3%

  100%

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Class of 2004 - Summer Internships by Region

Location % Median Salary² Avg of Salary²
United States 88% 5,280 4,864
West 75% 5,292 4,956
Northeast 8% 3,924 4,504
Midwest 3% 3,932 3,840
South 2% 3,500 4,316
International 12% 3,800 4,016
Central/South America 5% 3,000 4,680
Asia 4% 4,500 4,680
Europe 3% 4,000 3,980
100% 5,200 4,768


² Average Salary shown is monthly salary.

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