Employment Report
MBA Class of 2011, Full Time
MBA Class of 2012, Summer Internship
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.
[top of page]
A Profile: 238 students
Women
28%
US Minorities
31%
International
30%
Median Work Experience
5 years
[top of page]
Top Industries:
Technology
32%
Consulting
27%
Financial Services
16%
Energy
7%
Pharma/Biotech/Healthcare
7%
Consumer Products/Retail
4%
Real Estate
3%
[top of page]
Top Functions:
Consulting
28%
Finance
20%
Marketing
19%
Business Development/Strategy
13%
General Management
10%
[top of page]
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 |
[top of page]
Salary by Industry
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.
[top of page]
Salary by Function
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.
[top of page]
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%
[top of page]
Class of 2011 - Salary by Location
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.
[top of page]
MBA Class of 2012, Summer Internships
A Profile: 254 students
Women
31%
US Minorities
36%
International
39%
Median Work Experience
5 years
[top of page]
Top Industries:
Technology
27.3%
Financial Services
20.6%
Consulting
13.0%
Healthcare
10.9%
Energy
8.0%
[top of page]
Top Functions:
Marketing
28.8%
Finance
23.9%
BizDev/Strategy
17.3%
Consulting
13.7%
General Management
5.8%
[top of page]
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 |
|
[top of page]
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.
[top of page]
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.
[top of page]
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%
[top of page]
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.
[top of page]
