Haas School of Business

Hire an MBA

Employment Report

Ninety-one percent of the class accepted job offers within three months of graduation. “2011 was a good year for MBA hiring,” says Lisa Feldman, executive director of Career Management Services. “We know there is suffering on the overall employment landscape, but our MBA graduates are finding success in their job searches.”

The class went to work for an average annual salary of $114,232, compared to $107,451 in 2010. The median salary was $111,000 and students collected an average signing bonus of $22,344.

Fifty-five students, 27 percent of the class, went to work in consulting, up from 24 percent last year. Sixteen of those students are at McKinsey & Company, which doubled the number of Berkeley MBA students hired above the previous year and made McKinsey the top hiring firm of Berkeley MBA 11 graduates. Deloitte Consulting was the second top hirer.

Large numbers of students also went to work in the technology industry, with 32 percent heading off to such top hiring firms as Google, Microsoft, and Amazon. The 16 percent of students who went to work in financial services joined such top hiring firms as Cambridge Associates and Citibank.

Berkeley MBA students continued to show strong interest in energy, health care, and biotechnology, with 7 percent of the 2011 class joining each sector. Top hiring firms in these industries included Pacific Gas & Electric, Bloom Energy, Genentech, and McKesson.

In other industries, consumer products companies attracted 4 percent of the class, while 3 percent went to work in real estate and 1 percent in the nonprofit sector. In addition, 10 members of the 2011 class starting their own companies including an energy trading firm, a company developing new battery technology, and app development firm.

The majority of the class of 2011 stayed in the Western United States. Those who ventured farther afield headed for Asia (7 percent), the Northeastern U.S. (6 percent), Latin America and the Caribbean (5 percent), and Europe (4 percent). “The number of global companies that have approached us for recruiting has increased," Feldman notes. Chile’s LAN Airlines, Spain’s Itau Unibanco, and Chinese medical device firm Mindray are among the new global visitors to the recruiting center.

Meanwhile, the class of 2012 spent 10 weeks this summer working at internships in such organizations as Visa, Facebook, and the San Francisco Unified School District. On average, they earned a monthly salary of $6,682. Firms that hired the most Berkeley MBA interns included Google, Apple, McKinsey & Company, Microsoft, and The Boston Consulting Group.

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A Profile: 238 students

Women 28%
US Minorities 31%
International 30%
Median Work Experience 5 years

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Top Industries:

Technology 32%
Consulting 27%
Financial Services 16%
Energy 7%
Pharma/Biotech/Healthcare 7%
Consumer Products/Retail 4%
Real Estate 3%

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Top Functions:

Consulting 28%
Finance 20%
Marketing 19%
Business Development/Strategy 13%
General Management 10%

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Top Hiring Companies (3 or more full-time hires):

Amazon Google
Applied Materials L.E.K. Consulting
Bain & Company McKesson
Boston  Consulting Group McKinsey & Co.
Cambridge Associates Microsoft
Deloitte Consulting PG&E
Genentech Samsung

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Salary by Industry

Industry % Mean Base Annual Salary Median Base Annual Salary Mean Signing Bonus1 Mean Total Other Comp2
Aerospace/
Aviation/Defense
1.0% N/A N/A N/A N/A
Biopharma/
Health/MedDevices
7.4% $109,333 $115,000 $17,955 $16,325
Biopharma 3.4% $115,000 $115,000 $18,929 N/A
Healthcare Services 2.2% $105,000 $105,000 N/A N/A
Medical Devices 2.2% $99,000 $102,000 $18,100 N/A
Consulting 27.1% $126,853 $130,000 $25,872 $34,590
Consumer Products/Retail 3.9% $88,571 $95,000 $17,500 $14,625
Education/
Govt/Non-Profit
1.0% N/A N/A N/A N/A
Energy 7.4% $107,107 $108,500 $17,188 $33,531
Alternative Energy 4.4% $105,938 $102,500 $9,375 $39,375
Utilities 3.0% $108,667 $110,000 $25,000 $16,000
Financial Services 15.8% $119,303 $110,000 $28,531 $55,883
Commercial Banking 2.0% $109,454 $108,500 $17,000 $14,200
Investment Banking/Brokerage 4.9% $117,800 $100,000 $41,071 $81,900
Investment/Portfolio Management 5.9% $119,053 $120,000 $10,000 $29,778
Private Equity 1.5% $146,667 $150,000 N/A N/A
Private Wealth Management 0.5% N/A N/A N/A N/A
Other 1.0% N/A N/A N/A N/A
Mining/
Forestry/Resources
1.5% N/A N/A N/A N/A
Real Estate 3.0% $128,333 $125,000 N/A N/A
Technology 31.5% $106,206 $110,000 $19,590 $20,896
Diversified High Tech 5.9% $108,750 $105,000 $27,500 $28,333
Entertainment/Media 1.5% N/A N/A N/A N/A
Hardware 3.9% $100,733 $110,000 $14,583 $13,000
Internet Services/E-Commerce 12.8% $109,583 $110,000 $19,000 $20,225
Software 6.4% $102,250 $105,000 $10,625 $20,200
Telecommunications 1.0% N/A N/A N/A N/A
Other 1.4% N/A N/A N/A N/A
Grand Total 100% $114,232 $111,000 $22,520 $34,587


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

Function% Mean Base Salary Median Base Salary Mean Signing Bonus1 Mean Total Other Comp2
Biz Dev/Strategy 12.8% $108,957 $110,000 $18,594 $23,167
Consulting 27.6% $126,059 $130,000 $25,398 $32,602
CSR 1.0% N/A N/A N/A N/A
Finance 19.7% $114,890 $110,000 $25,795 $55,643
General Management 9.9% $102,176 $107,000 $23,636 $17,880
Human Resources 0.0% N/A N/A N/A N/A
Marketing 19.2% $106,526 $108,500 $19,360 $24,362
Operations/Logistics 2.5% $104,577 $106,154 $14,625 $37,650
Real Estate 3.0% $119,167 $110,000 N/A N/A
Other 4.3% $113,000 $105,000 N/A N/A
Grand Total 100% $114,232 $111,000 $22,520 $34,587


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 65.0%
*Summer Internship (Haas-sourced) 23.6%
*On-Campus Recruiting 23.2%
*Haas Job Posting 10.3%
*Haas/Cal Network 6.9%
*Haas Sponsored Off-Campus Recruiting 1.0%
Graduate-facilitated Activities 31.1%
*Previous Employer 13.8%
*Personal Network 9.9%
*Career Forum (non-Haas Sourced) 1.0%
*Job Posting (non-Haas Sourced) 1.0%
*Summer Internship (non-Haas Sourced) 0.5%
*Other (non-Haas Sourced) 4.9%
Unknown 3.9%

Total 100%

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Class of 2011 - Salary by Location

Location % Mean Base Salary Median Base Salary Mean Signing Bonus1 Mean Total Other Comp2
United States 80.3% $114,191 $115,000 $22,097 $35,414
   West-Northern Calif. 61.1% $112,919 $111,000 $20,459 $30,516
   Pacific Northwest 6.9% $112,357 $110,000 $31,538 $26,250
   Northeast 4.4% $123,125 $125,000 $19,000 $62,438
   West-Southern Calif. 3.0% $115,333 $112,500 $21,875 $75,000
   Mid-Atlantic 1.5% N/A N/A N/A N/A
   Midwest 1.0% N/A N/A N/A N/A
   South 1.0% N/A N/A N/A N/A
   Southwest 1.0% N/A N/A N/A N/A
   West-Mountain 0.5% N/A N/A N/A N/A
International 19.7% $114,395 $110,000 $24,333 $32,206
   Asia 6.9% $94,306 $105,000 $27,500 $21,286
   South America 5.4% $127,931 $122,500 $21,333 $45,995
   Europe 4.4% $125,722 $132,000 $24,000 $24,250
   Middle East 2.0% $128,333 $130,000 $26,667 N/A
   Canada 1.0% N/A N/A N/A N/A
Grand Total 100% $114,232 $111,000 $22,520 $34,587

1Mean Signing Bonus. 64.4% of those reporting salaries reported receiving a Signing Bonus.

2Mean Total Other Comp includes annual bonus, performance bonus, and other guaranteed bonuses.


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MBA Class of 2012, Summer Internships

A Profile: 254 students

Women 31%
US Minorities 36%
International 39%
Median Work Experience 5 years


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Top Industries:

Technology 27.3%
Financial Services 20.6%
Consulting 13.0%
Healthcare 10.9%
Energy 8.0%


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Top Functions:

Marketing 28.8%
Finance 23.9%
BizDev/Strategy 17.3%
Consulting 13.7%
General Management 5.8%


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Top Ten Hiring Companies (3 or more Summer Interns):

Amazon Google
Apple JP Morgan
Autodesk Microsoft
Boston Consulting Group McKinsey & Co.
Education Pioneers Novartis
Facebook  

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Salary by Industry

Bio/Pharma/Health/MedDevices 10.9% $6,428 $6,600
   Biotech/Pharma 5.5% $7,154 $7,200
   Healthcare Services 4.6% $5,408 $6,000
   Medical Devices 0.8% N/A N/A
Consulting 13.0% $9,069 $10,000
Consumer Products/Retail 4.6% $5,454 $6,000
Education 2.9% $3,144 $2,150
Energy/Petroleum/Utilities 8.0% $5,721 $5,750
   Alternative Energy 5.5% $5,192 $5,000
   Utilities/Oil/Gas 2.5% $6,886 $7,200
Financial Services 20.6% $7,001 $8,333
   Commercial Banking 0.8% N/A N/A
   Diversified Financial Services 1.3% $7,000 $7,000
   Investment Banking/Brokerage 7.6% $8,471 $8,333
   Investment/Portfolio Management 5.0% $6,017 $5,900
   Private Equity 1.7% N/A N/A
   Venture Capital 3.8% $5,188 $4,000
   Other 0.4% N/A N/A
Government 1.7% N/A N/A
Media/Entertainment 2.9% $7,720 $5,200
Nonprofits & Social Enterprise 4.2% $2,483 $2,300
Real Estate 2.1% $7,955 $8,333
Technology 27.3% $6,330 $6,600
   Diversified High Tech 3.4% $5,447 $6,560
   Equipment/Hardware 2.5% $6,454 $6,083
   Internet 12.6% $7,328 $8,000
   Software 5.9% $5,503 $5,920
   Telecommunications 2.1% $5,354 $6,400
   Other 0.8% N/A N/A
Other Industries 1.7% $7,633 $7,300
Grand Total 100% $6,682 $7,000

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 17.3% $6,124 $6,400
Consulting 13.8% $8,771 $10,000
CSR 1.3% N/A N/A
Finance 24.0% $6,845 $8,000
General Management 5.8% $6,076 $7,000
Marketing 28.9% $5,942 $6,400
Operations/Logistics 1.3% $6,333 $6,400
Real Estate 2.2% $7,767 $7,767
Other 5.8% $6,955 $6,969
Grand Total 100% $6,682 $7,000

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 32.8%
*Job Posting 29.8%
*Cal/Haas Fellow Student/Alumni 9.6%
*Off-Campus Recruiting - Haas Contact 7.6%
*Haas Career Forum 0.5%
Graduate-facilitated Activities 19.7%
*Off Campus Recruiting (non-Haas Contact) 9.1%
*Personal Network 8.6%
*Off Campus Career Fair (non-Haas facilitated) 1.0%
*Search Firm/Employment Agency 0.5%
*Previous Employer 0.5%

Total 100%


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Class of 2012 - Summer Internships by Region

United States 82.3% $6,701 $7,000
   West-Northern Calif. 61.6% $6,659 $6,880
   West-Southern Calif. 5.9% $7,281 $6,700
   Northeast 5.1% $6,670 $7,200
   Pacific Northwest 4.6% $7,125 $7,000
   Midwest 2.5% $7,608 $7,300
   Southwest 1.3% $6,027 $6,400
   South 0.4% N/A N/A
   MidAtlantic 0.5% N/A N/A
   West-Mountain 0.5% N/A N/A
International 17.7% $6,575 $7,030
   Asia 7.6% $7,084 $9,322
   Latin & South America 5.5% $6,845 $7,000
   Europe 3.4% $5,712 $6,974
   Africa 0.8% N/A N/A
   Middle East 0.4% N/A N/A
Grand Total 100% $6,682 $7,000



3Salary shown is monthly; weekly mean salary is $1,351 calculated using 4.33 weeks per month.

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