Hire an MBA

Employment Report

A strong job market has greeted members of the Berkeley MBA class of 2007. While the pomp and circumstance of graduation were still fresh in everyone's mind, more than 95% of the class had already re-joined the workforce—securing positions within three months of graduation.

The breadth and scope of firms that hire Berkeley MBAs are wide and impressive, notes Abby Scott, executive director of MBA Career Management. “Our top hiring companies roster represents large MBA employers like Google, Bain, and Bank of America,” says Scott. “But you don't have to go very far down the list to see many smaller or non-traditional MBA employers, too.”

This year’s top employers also include Deloitte Consulting, Abbott Laboratories, Citi, McKinsey & Company, and Yahoo!. Berkeley MBAs from the class of 2007 will also be working for such firms as Apple, Chevron, Boston Consulting Goldman Sachs, Cisco, and Samsung.

Average and median starting salaries broke through the $100,000 mark for the first time, according to Scott. Average starting salaries are up again this year over last year. The mean base salary for Berkeley MBA graduates this year was $101,859, with a median of $100,000. A large percentage of students also receive substantial signing bonuses of $20,272 on average.

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 a collaborative culture that imbues students with confidence, not attitude. The Wall Street Journal recently ranked Haas as the #2 business school among corporate recruiters in the US, and the EIU ranked Haas #3 among schools that open the most opportunities for new careers to their students.

Finance is the top function among Berkeley MBA graduates. Those opportunities are reflected in the diversity of hiring companies and in the industry and functional choices of Berkeley MBA students. Nearly 36% of the graduates will work in finance, while 23% will work in marketing and product management, 18% in consulting, and 18 % in general management.

As for industries, 28% of the students are working in technology; 23% in financial services; and 18% in consulting. Other fields include real estate (7%), consumer packaged goods and retail (7%), biotech/pharmaceuticals/healthcare services, and medical devices (5%), education, government, and nonprofit (5%); and energy, environment, and natural resources (4%). Entrepreneurship continues to thrive at Haas with seventeen graduates starting their own companies in industries such as technology, marketing, biotechnology, and organic foods.

The Career Management staff works year-round to maintain, strengthen, and establish relationships with employers. Four industry-focused Account Managers partner with hundreds of firms, insuring their experience recruiting at Haas is a productive one. These individuals work on a strategic level with companies to help them select the right programs to target candidates for their firms. Lisa Feldman, Director of MBA Recruiting, points to the feedback Account Managers receive from recruiters as a key to developing interview preparation programs. “Students get better every year”, says Feldman, “thanks in part to this continuous feedback loop.”

As MBA Career Management further strengthens ties with the business community and works to provide the best possible employment tools, Haas School students will continue to be among the most highly sought-after business school graduates in the world.


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A Profile: 253 students

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



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Top Industries:

Technology 28%
Financial Services 23%
Consulting 18%
Consumer Products/Retail 7%
Real Estate 7%
BioTech/Pharma/MedDevices/Healthcare 5%
Education/Govt/NonProfit 5%



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Top Functions:

Finance 36%
Marketing 23%
Consulting 18%
General Management 18%


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Top Hiring Companies:

Abbott Laboratories
Apple
Bain & Company
Bank of America
Chevron
Citi
Deloitte
Google
McKinsey & Company
Yahoo!


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Average of Salary by Industry

Industry % Mean Base Annual Salary Median Base Annual Salary Mean Signing Bonus Mean Total Other Comp¹
Bio/Pharma/
Health/MedDevices
5.2% $105,001 $100,000 $20,286 $23,650
Biotech/Pharma 0.9% n/a n/a n/a n/a
Healthcare Services 1.4% $116,000 $125,000 n/a n/a
Medical Devices 2.8% $99,402 $100,000 $22,000 $28,000
Consulting 17.5% $112,264 $118,000 $22,439 $40,839
Consumer Products/Retail 6.6% $87,264 $90,000 $14,401 $12,375
Consumer Products 5.7% $87,211 $90,000 $14,333 $13,429
Retail 0.9% n/a n/a n/a n/a
Education / Government/ Non-Profit 4.7% $68,667 $68,500 N/A N/A
Education 1.9% $66,667 $65,000 n/a n/a
Government 0.9% n/a n/a n/a n/a
Non-Profit 1.9% $70,667 $71,000 n/a n/a
Energy/Environment/
Resources
3.8% $100,503 $100,000 $26,750 $28,335
Energy/Oil/Utilities 2.4% $103,604 $100,000 $26,750 n/a
Environmental Services 0.9% n/a n/a n/a n/a
Metals/Mining 0.5% n/a n/a n/a n/a
Financial Services 23.1% $99,325 $95,000 $29,633 $29,003
Commercial Banking 3.3% $95,000 $95,000 $15,000 n/a
Diversified Financial Services 1.9% $105,000 $100,000 $15,000 n/a
Investment Banking/Brokerage 9.0% $94,588 $95,000 $41,800 $13,473
Investment/Portfolio Management 6.1% $97,500 $100,000 $27,000 $34,844
Private Equity 0.5% n/a n/a n/a n/a
Venuture Capital 2.4% $117,000 $120,000 $9,250 $45,000
Media/Entertainment 2.8% $93,500 $92,500 $12,450 $18,263
Advertising/Marketing Services 1.4% $91,667 $90,000 $10,000 $10,000
Media/Publishing 0.9% n/a n/a n/a n/a
Leisure/Entertainment 0.5% n/a n/a n/a n/a
Real Estate 6.6% $103,286 $107,500 $14,444 $77,925
Development 1.9% $101,250 $100,000 $13,333 $35,500
Finance 4.7% $104,100 $107,500 $15,000 $96,107
Technology 28.3% $103,941 $100,000 $14,656 $23,203
Diversified High Tech 1.4% $108,333 $110,000 $18,333 $10,000
Electronics 2.4% $89,360 $90,000 $11,533 $24,185
Hardware 1.9% $115,000 $112,500 $8,333 $44,167
Internet 12.3% $100,495 $105,000 $13,575 $22,818
Semiconductors 0.5% n/a n/a n/a n/a
Software 7.1% $115,000 $110,000 $16,583 $24,512
Telecommunications 2.8% $93,000 $95,000 $15,375 $10,063
Widely Diversified Manufacturing 0.9% N/A N/A N/A N/A
Other 0.5% N/A N/A N/A N/A
Grand Total 100% $101,859 $100,000 $20,272 $31,069



¹ Average Total Other Comp includes annual bonus, performance bonus, and other guaranteed bonuses.

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Average Salary by Function


Function Description % Mean Base Salary Median Base Salary Mean Signing Bonus Avg Total Other Comp¹
Consulting 18% $112,348 $115,000 $23,236 $38,563
Finance 36% $99,529 $98,400 $24,369 $35,571
General Management 18% $104,497 $105,000 $16,103 $30,100
Marketing 23% $98,315 $100,000 $16,063 $18,508
Other 6% $94,700 $90,000 $12,500 $36,686
Grand Total 100% $101,859 $100,000 $20,272 $31,069


¹ Average Total Other Comp includes annual bonus, performance bonus, and other guaranteed 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 72.6%
*On-Campus Recruiting 25.0%
*Summer Internship (Haas-facilitated) 22.2%
*Haas Job Posting 9.9%
*Haas Sponsored Off-Campus Recruiting 8.5%
*Haas Contact 6.1%
*Haas Career Forum 0.9%
Graduate-facilitated Activities 25.1%
*Off Campus Recruiting (non-Haas Contact) 12.3%
*Previous Employer 4.7%
*Summer Internship (non-Haas facilitated) 2.8%
*Personal Network 2.8%
*Search Firm/Employment Agency 0.9%
*Off Campus Career Fair (non-Haas facilitated) 0.9%
*Other 0.7%
Unknown 2.3%

Total 100%


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Class of 2007 - Full Time Positions by Region


Location % Mean Base Salary² Mean Signing Bonus Mean Total Other Comp¹
United States 87.7% $102,628 $19,639 $31,146
   West 74.1% $103,626 $19,478 $25,607
   Northeast 4.2% $107,222 $23,725 $62,488
   Pacific Northwest 2.8% $93,083 $20,000 $31,217
   Midwest 2.8% $97,500 $17,375 $49,125
   Middle Atlantic 2.4% $86,200 n/a $70,463
   South 0.9% n/a n/a n/a
   Southwest 0.5% n/a n/a n/a
International 12.3% $93,344 $29,055 $30,283
   Asia 7.5% $92,350 $26,086 $29,538
   South America 1.5% $74,667 n/a n/a
   Europe 2.8% $115,333 $39,000 n/a
   Canada 0.5% n/a n/a n/a
Grand Total 100% $101,859 $20,272 $31,069


¹Average Total Other Comp includes annual bonus, performance bonus, and other guaranteed bonuses.

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MBA Class of 2008, Summer Internships


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A Profile: 258 students

Women 35%
Minority 36%
International 31%
Median Work Experience 5 years



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Top Industries:

Technology 31.4%
Financial Services 19.9%
Consulting 11.9%
Bio/Pharm/Healthcare/MedDevices 10.2%



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Top Functions:

Marketing 31.3%
Finance 22.3%
General Management 21.4%
Consulting 13.4%


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Top Ten Hiring Companies:

Abbott Laboratories
Amazon.com
Bain & Compaany
Boston Consulting Group
Chevron
Genentech, Inc.
Google
SAP
Salesforce.com
Wells Fargo Bank



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Average of Salary by Industry % Mean Salary² Median Salary²
Bio/Pharma/Health/MedDevices 10.2% $6,472 $6,400
   Biotech/Pharma 5.3% $6,260 $6,400
   Healthcare Services 2.2% $7,250 $7,500
   Medical Devices 0.4% n/a n/a
Consulting 11.9% $8,689 $10,000
Consumer Products/Retail 7.5% $5,582 $5,080
   Consumer Products 3.1% $5,260 $5,080
   Retail 4.4% $5,857 $5,600
Education/Government/Non-Profit 4.4% $2,040 $2,400
Energy/Petroleum/Utilities 5.8% $6,444 $6,893
Financial Services 19.9% $6,248 $6,420
   Commercial Banking 1.8% $6,195 $6,240
   Diversified Financial Services 2.2% $6747 $7,035
   Investment Banking/Brokerage 7.1% $6,520 $7,900
   Investment/Portfolio Management 4.4% $6,861 $7,959
   Venture Capital/Private Equity 3.5% $5,500 $4,000
   Other 0.9% n/a n/a
Media/Entertainment 0.9% n/a n/a
Real Estate 5.3% $6,292 $7,000
Technology 31.4% $6,528 $6,667
   Diversified High Tech 0.4% n/a n/a
   Electronics 2.2% $5,956 $5,440
   Internet 10.6% $6,640 $6,800
   Semiconductors/Hardware 4.5% $6,052 $6,105
   Software 10.6% $6,758 $6,917
   Telecommunications 3.1% $6,340 $6,240
Widely Diversified Services 0.9% n/a n/a
Other Industries 1.8% n/a n/a
Grand Total 100% $6,475 $6,591
² Salary shown is monthly salary.

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Employment by Function


Average of Salary by Function % Mean Salary² Median Salary²
Consulting 13.4% $8,294 $9,750
Finance 22.3% $6,449 $6,934
General Management 21.4% $6,455 $6,604
Human Resources 1.3% $4,782 $4,650
Marketing 31.3% $6,118 $6,270
Operations 2.2% $6,000 $6,000
Real Estate 5.4% $6,648 $7,500
Other 2.7% $3,773 $3,000
Grand Total 100% $6,475 $6,591


² Salary shown is monthly 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 79.1%
*On-Campus Recruiting 42.4%
*Job Posting 20.3%
*Off-Campus Recruiting - Haas Contact 15.3%
*Haas Career Forum 1.1%
Graduate-facilitated Activities 20.9%
*Off Campus Recruiting (non-Haas Contact) 18.1%
*Previous Employer 0.6%
*Search Firm/Employment Agency 0.6%
*Off Campus Career Fair (non-Haas facilitated) 1.7%

Total 100%


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Class of 2007 - Summer Internships by Region

Location % Mean Salary² Median Salary²
United States 86.7% $6,938 $6,912
   West 74.7% $6,927 $6,400
   Pacific Northwest 5.3% $6,978 $7,500
   Northeast 3.6% $6,717 $7,916
   Midwest 1.8% $9,000 $9,000
   Middle Atlantic 0.9% n/a n/a
   South 0.4% n/a n/a
International 13.3% $7,084 $7,979
   Asia 6.2% $7,064 $7,958
   Europe 2.2% n/a n/a
   South America 3.1% $6,600 $7,500
   Africa 1.8% n/a n/a
Grand Total 100% $6,475 $6,591



² Average Salary shown is monthly salary.

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