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Employment Report


The Berkeley MBA Class of 2006 entered a strong job market upon graduation. Ninety-five percent of the class had job offers three months after graduation, and the number of students who enjoyed multiple offers continued to rise.

The breadth and scope of firms that hire Haas MBAs is wide and impressive—Haas MBAs are working for and interned with over 180 different organizations. Top employers include McKinsey & Company, Google, Bank of America, Bain, Yahoo!, Johnson & Johnson, Boston Consulting Group, and Microsoft.

More and more companies continue to choose Haas as their recruiting partner because of its acclaimed general management program with top-ranked specialties, the independent and innovative thinking inherent to UC Berkeley graduates, and the school’s collaborative, team-based culture. The Wall Street Journal recruiter survey recently ranked Haas as the fifth best business school in the U.S., and The Princeton Review named it the third best business school in the country for career prospects. The Haas School experienced a 38% increase in the number of recruiting schedules last year and has seen continued growth in 2006-06.

Salaries also continue to rise. The median base salary for Haas graduates this year was $100,000, with a mean just under that amount, and we continue to see a large percentage of students receiving substantial signing bonuses.

The success in the employment market was shared by US and international students alike. The mean base salary for international students was just above $98,000. Their mean signing bonus was actually greater than their US counterparts at more than $21,000. Almost two-thirds of the international class decided to accept positions in the United States with companies such as American Express, Yahoo!, Credit Suisse, Google, and Fidelity Investments. Students returning home or to other countries landed positions with firms such as Google, Bain, Johnson & Johnson, and McKinsey & Co.

Technology remains the number-one sector of employment—in fact, Haas was given the highest rating in the 2006 Wall Street Journal Survey among recruiters from the technology sector. Other sectors proved very strong as well; the number of Haas students entering the financial services and consulting industries is a close second and third. One area of note is the growing Energy industry, where we have seen a steady rise of students entering the field over the past two years.

Entrepreneurship continues to be a strength of Haas and has expanded well beyond the world of the internet. Fully 5% of our students started their own companies this year; they included a successful hedge fund, a company that seeks to bring healthy organic food into school cafeterias, an online sports site, an alternative energy company, and a consulting firm that focuses on the advantages of employing a flexible workforce.

We have also seen a subtle change in where Haas MBAs end up. While slightly more than half of the class of 2006 will remain in the Bay Area, we have seen increased numbers of students accept offers in Southern California and the Pacific Northwest. In addition, fully 16% of the class of ’06 will be working overseas, and close to 10% have taken jobs in the Northeastern United States, predominantly in Manhattan.

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A Profile: 224 students

Women 27%
Minority 32%
International 33%
Median Work Experience 5.3 years



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Top Industries:

Technology 25%
Financial Services 22%
Consulting 20%
Healthcare/ Biotech 8%
Consumer Products/ Retail 7%
Entrepreneurship 5%
Real Estate 5%



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Top Functions:

Finance 25%
Marketing 22%
Consulting 24%
General Management 18%


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Top Ten Hiring Companies:

Amazon.com, Inc.
Bain & Company
Bank of America
Boston Consulting Group
Deloitte
Google
Johnson & Johnson
McKinsey & Company
Microsoft Corporation
Yahoo!


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Average of Salary by Industry

Industry % Median of Salary Avg of Salary Avg Signing Bonus Avg Total Other Comp¹
Consulting 20.6% 115,000 107,345 19,809 28,441
Consumer Products/Retail 7.2% 85,000 82,667 13,125 15,114
Entertainment Media 1.0% N/A N/A N/A N/A
Entrepreneurs 5.2% N/A N/A N/A N/A
Financial Services 21.6% 95,000 93,663 26,207 49,980
   Commercial Banking 1.5% 95,000 100,000 N/A N/A
   Diversified Financial Services 44.1% 90,000 93,357 20,000 51,600
   Investment Banking/Brokerage 9.3% 95,000 94,611 31,563 54,313
   Investment/Portfolio    Management 5.7% 95,000 88,091 20,000 50,667
  Venture Capital/ Private Equity 1.0% N/A N/A N/A N/A
Healthcare/ Biotech/ Pharmaceuticals 7.7% 97,020 93,234 21,308 23,086
Not for Profit/ Government/ Education 2.6% 70,000 73,072 N/A N/A
Real Estate 5.2% 95,000 98,050 15,000 19,130
   Development 2.6% 90,000 91,100 10,000 16,960
   Finance 2.6% 100,000 105,000 18,750 21,300
Technology 25.3% 102,000 107,545 15,434 29,398
   Diversified High Tech 1.5% N/A N/A N/A N/A
   Electronics 1.5% 102,000 103,000 17,333 8,620
   Internet 13.9% 100,000 103,634 17,463 28,844
   Semiconductors /    Hardware 2.1% 136,000 127,500 N/A N/A
   Software 6.1% 115,000 111,409 12,500 34,871
Utilities/Energy 3.6% 100,000 91,507 27,500 20,450
Grand Total 100% 100,000 98,977 19,924 31,407



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 25.1% 110,000 106,045 18,600 26,573
Finance 26.8% 95,000 92,790 25,676 50,242
General Management 19.1% 95,000 96,619 19,519 31,805
Marketing 23.5% 100,000 100,345 16,724 19,092
Real Estate 5.5% 95,000 98,750 14,375 21,580
Grand Total 100% 100,000 98,977 16,327 28,870


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 data below shows the sources of jobs as reported by the students.

Haas-facilitated Activities 77.2%
Graduate-facilitated Activities 22.3%
Unknown 0.5%

Total 100%


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Class of 2006 - Full Time Positions by Region


Location % Average Salary² Avgerage Signing Bonus Average Total Other Comp¹
United States 84.2% 100,829 19,153 30,299
   West 72.7% 102,395 18,897 31,403
   Northeast 8.7% 90,500 21,083 20,269
   Middle Atlantic 1.1% N/A N/A N/A
   Southwest 1.1% N/A N/A N/A
   Midwest 0.5% N/A N/A N/A
International 15.8% 88,364 24,676 37,367
   Asia 8.2% 96,167 22,109 37,709
   South America 3.8% 71,067 29,333 31,450
   Europe 2.7% 103,200 26,000 51,067
   India Subcontinent 0.5% N/A N/A N/A
   Caribbean 0.5% N/A N/A N/A
100% 98,977 16,327 28,870


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

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MBA Class of 2007, Summer Internships


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A Profile: 260 students

Women 32%
Minority 26%
International 29%
Median Work Experience 5 years



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Top Industries:

Technology 34%
Financial Services 21%
Healthcare/ Biotech 12%
Consulting 11%



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Top Functions:

Marketing 34%
Finance 27%
General Management 19%
Consulting 15%


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Top Ten Hiring Companies:

Adobe Systems
Apple
Blue Shield of California
Citigroup
Deloitte
Genentech, Inc.
Hewlett-Packard Company
Johnson & Johnson
SAP
Yahoo!



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Average of Salary by Industry % Median Salary² Avg of Salary²
Consulting 10.0% 2,206 2,078
Consumer Products/Retail 6.9% 1,155 1,151
Financial Services 19.5% 1,826 1,542
   Commercial Banking 1.7% 1,559 1,534
   Diversified Financial Services 2.6% 1,196 1,284
   Investment Banking/Brokerage 9.5% 1,828 1,724
   Investment/Portfolio Management 4.3% 1,663 1,424
   Venture Capital/Private Equity 1.3% 808 N/A
Healthcare/Biotech/Pharmaceuticals 11.7% 1,349 1,385
Not for Profit/Government/Education 6.1% 647 744
Other Industry 3.9% 924 966
Real Estate 6.5% 1,212 1,271
   Development 2.6% 1,212 1,252
   Finance 3.9% 1,270 1,284
Technology 33.7% 1,386 1,356
   Diversified High Tech 0.4% N/A N/A
   Electronics 5.7% 1,267 1,232
   Internet 10.0% 1,455 1,437
   Semiconductors/Hardware 3.0% 1,386 1,334
   Software 10.4% 1,422 1,419
   Telecommunications 4.3% 1,128 1,207
Utilities/Energy 3.6% 1,288 1,311
Grand Total 100% 1,386 1,401



² Average Salary shown is weekly salary.

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Employment by Function

Average of Salary by Function % Median Salary² Avg of Salary²
Consulting 14% 1,934 1,776
Finance 27% 1,517 1,484
General Management 19% 1,293 1,151
Marketing 34% 1,367 1,332
Real Estate 6% 1,270 1,312
Grand Total 100% 1,386 1,401


² Average Salary shown is weekly salary.

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Job Offer Source Data

The data below shows the sources of jobs as reported by the students.


Haas-facilitated Activities 59%
Graduate-facilitated Activities 24%
Haas Contact or Event 17%

Total 100%


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Class of 2006 - Summer Internships by Region

Location % Median Salary² Average Salary²
United States 91.6% 1,386 1,398
   West 82.8% 1,386 1,399
   Northeast 4.9% 1,828 1,610
   Midwest 1.3% 1,016 1,150
   Middle Atlantic 2.2% 1,016 1,098
   South 0.4% N/A N/A
International 8.4% 1,155 1,432
   Asia 4% 1,039 1,184
   Europe 3.1% 1,155 1,617
   South America 0.9% N/A N/A
   Africa 0.4% N/A N/A
Grand Total 100% 1,386 1,401



² Average Salary shown is weekly salary.

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