Hire an MBA

Employment Report


Despite a weakening economy, job opportunities for the Berkeley MBA class of 2008 increased 5% from a year prior, and starting salaries increased to just under $109,000, up from last year’s mean base salary of $101,859. Ninety-five percent of the class secured job offers within three months of graduation as they joined 110 different organizations in 14 countries worldwide.  In addition to increased salaries, over three-fourths of the class reported receiving substantial signing bonuses - $22,737 on average.

"It was a tighter employment market, but we have seen MBA hiring continuing, with an impressive breadth of firms,” says Abby Scott, Executive Director of the Haas MBA Career Management Organization. The top hiring firms for graduating Berkeley MBA students this year included Amazon, Apple, Bain & Company, the Boston Consulting Group, Del Monte Foods, Deloitte Consulting, Google, eBay, Morgan Stanley, Pacific Gas & Electric, Wells Fargo Bank, and Yahoo!.

“We are pleased to have strong relationships with recruiters and our alumni community, which will help us weather the current economic downturn,” says Scott. That strong relationship is evidenced by the 2007 Wall Street Journal survey of corporate recruiters, which ranked Haas #2, and BusinessWeek’s 2008 Business School rankings, in which recruiters ranked the Haas Career Management Organization #4 nationwide. In particular, notes Lisa Feldman, Director of Recruiting, the recruiters recognized that “at Haas, the entire administration works diligently to create new programs that help connect students with companies and organizations, while ensuring that both groups’ needs are met.” 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.

Using skills learned at Haas, Steve Odom, MBA 08, parlayed his interest in general management and sustainability into a project manager position with The Dow Chemical Company in Midland, Michigan.  By maintaining a strong presence on campus and partnering with Haas MBA students on class projects, Dow attracted students like Steve who were pursued organizations “where I could leverage the skills I learned at Haas as well as my interest in CSR across the organization.”

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. As MBA Career Management further strengthens ties with the business community, Berkeley MBA students will continue to be among the most highly sought-after business school graduates in the world.


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A Profile: 230 students

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



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Top Industries:

Technology 30%
Financial Services 20%
Consulting 16%
Consumer Products/Retail 8%
BioTech/Pharma/MedDevices/Healthcare 7%
Energy 5%
Real Estate 5%



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Top Functions:

Marketing 25%
Finance 24%
Consulting 18%
General Management 10%
Business Development/Strategy 7%


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Top Hiring Companies (3+):

Amazon.com
Apple
Bain & Company
Boston Consulting Company
Del Monte Foods
Deloitte Consulting
eBay
Google
Morgan Stanley
PG&E Corporation
Wells Fargo Bank
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
7.4% $106,917 $107,500 $15,222 $17,280
Biotech/Pharma 4.0% $106,143 $105,000 $17.500 $10,750
Healthcare Services 2.3% $115,000 $115,000 $9,000 $23,000
Medical Devices 1.1% n/a n/a n/a n/a
Consulting 15.9% $118,400 $125,000 $26,870 $59,050
Consumer Products/Retail 8.0% $89,083 $91,500 $16,364 $19,283
Consumer Products 6.8% $90,818 $93,000 $16,364 $19,283
Retail 1.1% n/a n/a n/a n/a
Education/Non-Profit/
Government
2.8% $76,000 $77,000 $2,000 $5,600
Non-Profit 2.8% $76,000 $77,000 $2,000 $5,600
Energy/Environment/
Resources
5.1% $102,667 $105,000 $25,000 $12,250
Entertainment/
Leisure/Sports
1.7% $90,000 $90,000 $18,000 $9,000
Financial Services 21.0% $112,046 $100,000 $32,789 $43,871
Commercial Banking 3.4% $100,500 $97,500 $16,500 $19,360
Investment Bankinkg/Brokerage 8.0% $98,000 $95,000 $40,500 $20,500
Investment/Portfolio Management 6.3% $134,674 $142,500 $28,000 $60,850
Private Equity 1.1% n/a n/a n/a n/a
Venture Capital 1.7% n/a n/a n/a n/a
Other 0.6% n/a n/a n/a n/a
Real Estate 4.5% $109,286 $110,000 $13,750 $32,500
Development 2.3% $91,667 $100,000 $13,370 $21,250
Finance 2.3% $122,500 $120,000 n/a $40,000
Technology 30.1% $112,283 $110,000 $20,003 $20,197
Diversified High Tech 0.6% n/a n/a n/a n/a
Electronics 2.3% $124,750 $119,000 $15,000 $31,400
Hardware 1.1% n/a n/a n/a n/a
Internet 16.5% $108,100 $110,000 $18,066 $21,619
Semiconductors 0.6% n/a n/a n/a n/a
Software 7.4% $118,000 $117,500 $25,700 $19,958
Telecommunications 1.7% n/a n/a n/a n/a
Widely Diversified Manufacturing 1.1% N/A N/A N/A N/A
Other 2.3% N/A N/A N/A N/A
Grand Total 100% $108,967 $110,000 $22,737 $29,662



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 17.8% $120,385 $125,000 $24,250 $57,705
Finance 23.6% $110,266 $105,000 $30,438 $42,104
Business Development/Strategy 8.6% $102,958 $110,000 $18,807 $20,050
Leasdership/Rotational Programs 6.3% $106,333 $105,000 $24,444 $11,650
General Management 10.3% $110,318 $110,000 $16,286 $22,836
Marketing 25.3% $103,780 $110,000 $18,771 $17,490
Other 2.9% n/a n/a n/a n/a
Real Estate 5.2% $106,875 $105,000 $15,167 $28,583
Grand Total 100% $108,967 $110,000 $22,737 $29,662


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 77%
*On-Campus Recruiting 22%
*Summer Internship (Haas-facilitated) 35%
*Haas Job Posting 5%
*Haas Sponsored Off-Campus Recruiting 13%
*Fellow Haas Student 2%
*Haas Career Forum 1%
Graduate-facilitated Activities 23%
*Off Campus Recruiting (non-Haas Contact) 10%
*Previous Employer 5%
*Summer Internship (non-Haas facilitated) 3%
*Personal Network 5%
*Off Campus Career Fair (non-Haas facilitated) 1%

Total 100%


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Full Time Positions by Region


Location % Mean Base Salary² Mean Signing Bonus Mean Total Other Comp¹
United States 88.6% $108,222 $21,476 $24,013
   West 72.0% $107,181 $19,717 $22,368
   Pacific Northwest 5.7% $115,000 $34,444 $18,000
   Northeast 3.4% $105,000 $36,667 $20,000
   Midwest 2.3% $113,850 $26,667 $16,856
   Middle Atlantic 2.3% $105,000 $12,333 $18,600
   South 2.3% $128,333 $15,000 $97,500
   Southwest 0.6% n/a n/a n/a
International 11.4% $116,199 $33,455 $76,111
   Asia 6.3% $99,667 $33,500 $26,900
   Europe 2.8% $145,847 $40,667 $108,750
   South America 1.7% $103,000 $20,000 $60,000
   Middle East 0.6% n/a n/a n/a
Grand Total 100% $108,967 $22,737 $29,662


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

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MBA Class of 2009, Summer Internships


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A Profile: 262 students

Women 38%
International 32%
Median Work Experience 5 years



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Top Industries:

Technology 31.6%
Consulting 19.5%
Financial Services 16.3%
Bio/Pharm/Healthcare/MedDevices 11.6%



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Top Functions:

Marketing 28.8%
Consulting 24.0%
Fiance 21.7%
Business Development/Strategy 10.4%


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Top Ten Hiring Companies:

Adobe Systems
Amazon.com
Apple
Boston Consulting Group
Dow Chemical Company
Goldman Sachs
Google
Johnson & Johnson
Kaiser Permanente
McKesson
McKinsey & Company
Microsoft Corporation
Salesforce.com
Yahoo!
ZS Associates



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Average of Salary by Industry % Mean Salary² Median Salary²
Bio/Pharma/Health/MedDevices 11.6% $6,332 $6,407
   Biotech/Pharma 1.9% $6,687 $6,673
   Healthcare Services 6.5% $6,297 $6,400
   Medical Devices 3.2% $6,195 $7,150
Consulting 19.5% $8,834 $9,255
Consumer Products/Retail 5.6% $5,829 $6,000
Education/Government/Non-Profit 3.7% $3,0103 $2,600
Energy/Oil/Utilities 2.3% $6,305 $6,190
Financial Services 16.3% $6,513 $7,500
   Diversified Financial Services 0.9% n/a n/a
   Investment Banking/Brokerage 8.9% $6,717 $7,916
   Investment/Portfolio Management 3.7% $6,052 $5,750
   Private Equity 0.9% n/a n/a
   Venture Capital 1.9% n/a n/a
Media/Entertainment 2.4% $5,100 $5,500
Real Estate 3.7% $5,831 $6,625
Technology 31.6% $6,466 $6,800
   Diversified High Tech 0.4% n/a n/a
   Electronics 4.2% $6,096 $6,000
   Hardware 1.9% $6,113 $6,080
   Internet 9.8% $6,571 $6,900
   Semiconductors 1.4% $7,900 $8,250
   Software 11.6% $6,408 $6,800
   Telecommunications 1.9% $6,651 $6,690
   Other 0.4% n/a n/a
Widely Diversified Manufacturing 1.9% $9,225 $9,300
Other Industries 1.4% n/a n/a
Grand Total 100% $6,779 $7,000
² Salary shown is monthly salary.

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Employment by Function


Average of Salary by Function % Mean Salary² Median Salary²
Consulting 24.0% $8,429 $9,000
Finance 21.7% $6,594 $7,500
Business Development/Strategy 10.4% $5,960 $6,450
General Management 5.2% $5,860 $6,462
Marketing 28.8% $6,332 $6,720
Real Estate 4.2% $5,974 $6,000
Other 5.7% $6,094 $7,000
Grand Total 100% $6,779 $7,000


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 80.0%
*On-Campus Recruiting 44.9%
*Job Posting 20.1%
*Off-Campus Recruiting - Haas Contact 13.9%
*Haas Career Forum 1.1%
Graduate-facilitated Activities 20.0%
*Off Campus Recruiting (non-Haas Contact) 17.2%
*Previous Employer 0.6%
*Off Campus Career Fair (non-Haas facilitated) 1.1%
*Other 0.6%

Total 100%


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Summer Internships by Region

Location % Mean Salary² Median Salary²
United States 83.0% $6,665 $6,800
   West 67.5% $6,649 $6,720
   Pacific Northwest 6.1% $6,697 $6,800
   Northeast 4.7% $6,963 $7,708
   Midwest 2.4% $8,688 $9,300
   South 1.4% $6,387 $6,666
   Middle Atlantic 0.9% n/a n/a
International 17.0% $7,386 $8,000
   Asia 11.2% $6,389 $7,916
   Europe 2.4% $11,198 $12,020
   South America 2.4% $8,854 $9,053
   Africa 0.5% n/a n/a
   Australia 0.5% n/a n/a
Grand Total 100% $6,779 $7,000



² Average Salary shown is monthly salary.

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