Employment Report
MBA Class of 2010, Full Time
MBA Class of 2011, Summer Internship
Deloitte Consulting, Amazon, and McKinsey & Co. were the top three firms to hire 2010 full-time Berkeley MBA graduates, who joined 115 different organizations in 18 countries.
Ninety percent of the class received job offers within three months of graduation, compared to 85 percent last year. Among the students receiving offers in that time, 87 percent accepted positions. The mean base starting salary for the class is $107,451. The average signing bonus increased to $22,140 this year from $20,596 last year.
"The class of 2010 fared very well during a challenging job market,” says Abby Scott, executive director of MBA Career Management. “After a limited fall recruiting season in 2009, employers increased their hiring on campus during the spring semester of 2010. They turned to MBA campuses to fill open roles in their organizations, resulting in an overall increase in job opportunities year over year.”
This fall, on-campus recruiting is tracking ahead of last year, with 38 percent more opportunities for Berkeley-Haas students.
A number of consulting firms are among the top employers, with Boston Consulting Group joining Deloitte and McKinsey on that list. Twenty-four percent of the class went to work in the consulting industry, although a larger portion of the class–28 percent–is doing consulting work as a job function in non-consulting companies.
Twenty-two percent of graduates are working in a marketing function, which could be in a range of different industries, such as technology or consumer products.
Energy firms also are well represented among top hiring companies, including SunPower, Bloom Energy, Chevron, and PG&E. The number of Berkeley MBA graduates entering the energy and cleantech space has grown to represent 11 percent of the class overall.
Thirty-one percent of the class is working in the technology sector and 12 percent of the class went to work in financial services. Other top hiring firms are Yahoo!, Apple, Del Monte, Google, HP, and Samsung.
“The students from the MBA class of 2010 are entering the marketplace during a time of change and continued uncertainty," Scott says. "There is a tremendous opportunity for them to make an impact on their organizations as they settle into their roles and dig in to tackle strategic business challenges.”
Meanwhile, recruiting for summer internships was up significantly. The top hiring companies were Apple, Genentech, Google, Microsoft, Cisco, Amazon, Facebook, Bain, Deloitte Consulting, Novartis, Bloom Energy, McKesson, Parnassus Investments, SunPower, and Yahoo! Industry-focused account managers are busy securing employers for summer internship interviews, and they are optimistic that it will be a strong spring recruiting season based on demand so far.
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A Profile: 240 students
Women
30%
Minority
33%
International
39%
Median Work Experience
5 years
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Top Industries:
Technology
31%
Consulting
24%
Financial Services
12%
Energy
11%
Real Estate
6%
Education/Govt/NonProfit
6%
Consumer Products/Retail
5%
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Top Functions:
Consulting
28%
Marketing
22%
Finance
18%
Business Development/Strategy
11%
General Management
18%
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Top Hiring Companies (3 or more full-time hires):
| Amazon |
Google |
| Apple |
HP |
| Bloom Energy |
McKinsey & Co. |
| Boston Consulting Group |
PG&E |
| Chevron |
Samsung |
| Del Monte |
SunPower |
| Deloitte Consulting |
Yahoo! |
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Salary by Industry
Bio/Pharma/
Health/MedDevices
2.8%
$115,500
$115,500
N/A
$40,000
Healthcare Services
2.2%
$117,000
$116,000
N/A
N/A
Medical Devices
0.6%
N/A
N/A
N/A
N/A
Consulting
23.8%
$120,042
$125,000
$26,597
$24,445
Consumer Products/Retail
5.0%
$107,617
$97,000
$16,250
$9,067
Consumer Products
3.9%
$109,800
$97,000
$20,000
N/A
Retail
1.1%
N/A
N/A
N/A
N/A
Education/ Government/ Non-Profit
5.5%
$81,625
$81,250
N/A
N/A
Education
1.7%
N/A
N/A
N/A
N/A
Government
0.6%
N/A
N/A
N/A
N/A
Non-Profit
3.2%
N/A
N/A
N/A
N/A
Energy
11.0%
$102,441
$100,000
$11,875
$32,509
Alternative Energy
7.6%
$102,083
$97,500
N/A
$52,813
Petroleum
1.7%
$107,000
$107,000
N/A
N/A
Utilities
1.7%
$108,833
$100,000
N/A
N/A
Financial Services
11.6%
$98,607
$100,000
$29,250
$35,200
Diversified Financial Services
3.2%
$90,500
$90,000
$14,375
N/A
Investment Banking/Brokerage
4.4%
$102,932
$100,000
$36,000
N/A
Investment/Portfolio Management
2.8%
$98,000
$100,000
N/A
N/A
Private Equity
0.6%
N/A
N/A
N/A
N/A
Venuture Capital
0.6%
N/A
N/A
N/A
N/A
Media/Entertainment/ Sports
1.7%
$106,667
$100,000
N/A
N/A
Advertising/Media
1.1%
N/A
N/A
N/A
N/A
Sports
0.6%
N/A
N/A
N/A
N/A
Real Estate
5.5%
$91,667
$90,000
N/A
$26,214
Technology
30.9%
$107,975
$110,000
$19,794
$39,021
Diversified High Tech
5.0%
$114,288
$115,000
$17,143
$22,500
Electronics
0.6%
N/A
N/A
N/A
N/A
Hardware
1.6%
N/A
N/A
N/A
N/A
Internet
17.7%
$103,713
$110,000
$20,486
$43,357
Semiconductors
1.6%
$117,333
$116,000
$16,767
N/A
Software
4.4%
$114,000
$112,500
$26,250
$27,250
Other
2.2%
N/A
N/A
N/A
N/A
Grand Total
100%
$107,451
$110,000
$22,140
$30,956
1Mean Signing Bonus. 64.4% of those reporting salaries reported receiving a Signing Bonus.
2Mean Total Other Guaranteed Compensation includes annual bonus, performance bonus, and other guaranteed bonuses. 34.9% of those reporting salaries reported receiving some form of Other Guaranteed Compensation.
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Salary by Function
Biz Dev/Strategy
10.5%
$104,827
$116,000
$10,250
$43,643
Consulting
28.2%
$117,793
$120,000
$25,843
$25,430
Finance
17.7%
$102,949
$100,000
$32,333
$32,091
General Management
11.0%
$106,391
$110,500
$15,533
$30,640
Human Resources
0.6%
N/A N/A N/A N/A
Marketing
21.5%
$104,202
$100,000
$18,816
$36,895
Operations/Logistics
1.7%
N/A
N/A
N/A
N/A
Real Estate
5.0%
$91,875
$87,500
N/A
$30,100
Other
3.8%
$115,000
$115,000
$19,000
$18,500
Grand Total
100%
$107,451
$110,000
$22,140
$30,956
1Mean Signing Bonus. 64.4% of those reporting salaries reported receiving a Signing Bonus.
2Mean Total Other Guaranteed Compensation includes annual bonus, performance bonus, and other guaranteed bonuses. 34.9% of those reporting salaries reported receiving some form of Other Guaranteed Compensation.
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Job Offer Source Data
The data below shows the sources of jobs as reported by the students.
Haas-facilitated Activities
67.4%
*On-Campus Recruiting
23.8%
*Summer Internship (Haas-sourced)
14.4%
*Haas/Cal Network
12.7%
*Haas Job Posting
9.9%
*Haas Sponsored Off-Campus Recruiting
6.6%
Graduate-facilitated Activities
26.6%
*Previous Employer
8.8%
*Personal Network
8.3%
*Off Campus Recruiting (non-Haas Sourced)
6.1%
*Summer Internship (non-Haas Sourced)
2.2%
*Search Firm/Employment Agency
0.6%
*Family-owned Business
0.6%
Unknown
6.0%
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Class of 2010 - Salary by Location
United States
81.6%
$107,502
$110,000
$21,041
$30,943
West-Northern Calif.
62.0%
$103,626
$100,000
$19,478
$25,607
Pacific Northwest
5.6%
$108,400
$110,000
$32,000
$62,143
Northeast
5.0%
$104,125
$99,000
$25,625
$45,125
Southwest
3.4%
$82,800
$70,000
$20,000
$36,000
Midwest
1.7%
$108,667
$111,000
$17,500
$11,500
Middle Atlantic
1.7%
$137,500
$137,500
N/A
N/A
South
0.6%
N/A
N/A
N/A
N/A
West-Southern Calif.
0.6%
N/A
N/A
N/A
N/A
International
18.4%
$107,146
$105,300
$27,564
$31,051
Asia
10.1%
$101,546
$102,500
$29,050
$32,851
Europe
4.5%
$117,177
$119,500
$30,667
$26,667
Canada
1.7%
N/A
N/A
N/A
N/A
Latin America
1.1%
N/A
N/A
N/A
N/A
Africa
0.6%
N/A
N/A
N/A
N/A
Oceania
0.6%
N/A
N/A
N/A
N/A
Grand Total
100%
$107,451
$110,000
$22,140
$30,956
1Mean Signing Bonus. 64.4% of those reporting salaries reported receiving a Signing Bonus.
2Mean Total Other Guaranteed Compensation includes annual bonus, performance bonus, and other guaranteed bonuses. 34.9% of those reporting salaries reported receiving some form of Other Guaranteed Compensation.
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MBA Class of 2011, Summer Internships
A Profile: 254 students
Women
28%
Minority
31%
International
30%
Median Work Experience
5 years
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Top Industries:
Technology
31.6%
Financial Services
15.6%
Bio/Pharm/Healthcare/MedDevices
12.7%
Energy
11.4%
Consulting
10.1%
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Top Functions:
Marketing
26.7%
Finance
23.3%
General Management
16.9%
BizDev/Strategy
12.2%
Consulting
8.1%
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Top Ten Hiring Companies (3 or more Summer Interns):
| Apple |
Genentech |
| Amazon |
Google |
| Bain & Company |
McKesson |
| Bloom Energy |
Microsoft |
| Cisco |
Novartis |
| Deloitte Consulting |
Parnassus Investments |
| Facebook |
VMWare |
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Salary by Industry
Bio/Pharma/Health/MedDevices
12.7%
$6,370
$6,633
Biotech/Pharma
5.9%
$6,115
$6,670
Healthcare Services
4.2%
$6,689
$6.667
Medical Devices
2.5%
$6,563
$6,080
Consulting
10.1%
$8,910
$10,000
Consumer Products/Retail
3.4%
$5,447
$5,850
Consumer Products
3.0%
$5,189
$5,225
Retail
0.4%
N/A
N/A
Education/Government/Non-Profit
8.4%
$2,923
$2,800
Energy/Petroleum/Utilities
11.4%
$5,488
$5,200
Financial Services
15.6%
$6,244
$7,000
Diversified Financial Services
0.4%
N/A
N/A
Investment Banking/Brokerage
4.2%
$8,333
$8,333
Investment/Portfolio Management
7.2%
$5,072
$4,800
Private Equity
1.3%
N/A
N/A
Venture Capital
1.3%
N/A
N/A
Other
1.3%
$7,111
$7,000
Media/Entertainment
1.7%
$5,467
$6,000
Real Estate
2.1%
$5,467
$5,500
Technology
31.6%
$6,136
$6,500
Diversified High Tech
7.6%
$6,547
$6,708
Electronics
0.4%
N/A
N/A
Internet
13.5%
$6,086
$6,727
Semiconductors/Hardware
3.8%
$5,814
$5,600
Software
4.6%
$5,883
$6,000
Telecommunications
1.7%
$6,194
$6,250
Transportation
0.4%
N/A
N/A
Widely Diversified Services
0.4%
N/A
N/A
Other Industries
2.1%
$5,600
$5,000
Grand Total
100%
$6,181
$6,400
3Salary shown is monthly; weekly mean salary is $1,351 calculated using 4.33 weeks per month.
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Salary by Function
BizDev/Strategy
12.2%
$5,379
$5,600
Consulting
8.1%
$9,001
$10,000
Finance
23.3%
$6,764
$7,000
General Management
16.9%
$6,312
$6,670
Human Resources
0.6%
N/A
N/A
Marketing
26.7%
$6,120
$6,400
Operations
4.1%
$5,757
$6,400
Other
8.1%
$5,959
$6,000
Grand Total
100%
$6,181
$6,400
3Salary shown is monthly; weekly mean salary is $1,351 calculated using 4.33 weeks per month.
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Job Offer Source Data
The data below shows the sources of jobs as reported by the students.
Haas-facilitated Activities
80.3%
*On-Campus Recruiting
41.0%
*Job Posting
19.7%
*Off-Campus Recruiting - Haas Contact
10.7%
*Cal/Haas Alumnus/a
8.4%
*Haas Career Forum
0.5%
Graduate-facilitated Activities
19.7%
*Off Campus Recruiting (non-Haas Contact)
7.9%
*Job Posting (non-Haas facilitated)
3.4%
*Personal Network
2.8%
*Search Firm/Employment Agency
2.2%
*Off Campus Career Fair (non-Haas facilitated)
1.7%
*Previous Employer
1.1%
*Family-owned Business
0.6%
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Class of 2011 - Summer Internships by Region
United States
87.3%
$6,362
$6,912
West
77.0%
$6,191
$6,400
Pacific Northwest
3.4%
$7,857
$8,000
Northeast
2.9%
$7,400
$7,200
Midwest
1.5%
$7,928
$8,333
Middle Atlantic
1.0%
N/A
N/A
Southwest
1.0%
N/A
N/A
South
0.5%
N/A
N/A
International
12.7%
$5,390
$4,300
Latin America
3.9%
$3,988
$4,650
Asia
3.4%
$3,028
$1,906
Europe
3.4%
$6,956
$6,500
Africa
1.5%
$2,750
$2,750
Grand Total
100%
$6,181
$6,400
3Salary shown is monthly; weekly mean salary is $1,351 calculated using 4.33 weeks per month.
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