When Silicon Valley’s top firms need tech talent, they turn to UC Berkeley more than to any other school. A report by online recruiting company HiringSolved shows that Berkeley alumni—overall and in 2017—get hired more than grads of any other school at the top 25 tech companies by revenue. In both cases, Berkeley beat out Stanford (#2) and Carnegie Mellon (#3). Neither MIT nor any Ivy League schools made the top ten. The study aggregated data from over 10,000 public profiles for tech workers hired or promoted to new positions in 2016 and the first two months of 2017. For new grads, business development consultant, business analyst, brand ambassador, and financial analyst made the top 10 of the most likely job placements. For alumni overall, the top 10 job placements included project and product manager, account manager, business development consultant, and business analyst.
Floors one through five of the new Connie & Kevin Chou Hall, which house classrooms, are slated to open by late July. Select summer courses will begin enjoying the new space this summer. The sixth-floor events space, Spieker Forum, will open in the fall. View the building’s progress two ways: via the live webcam, haas.org/NorthAcademicBuilding, or the Instagram account, @whats_new_with_chou. Also visit the Berkeley Haas website for the timeline and floor plans: haas.org/chou-hall.
One of the benefits of being a Berkeley Haas alum is access to lifelong learning opportunities, like the Facebook Live streams we’ve been hosting of everything from the Dean’s Speaker Series to the annual Alumni Conference. The videos are archived on Berkeley Haas Insights at insights.haasalumni.org. Spring’s Alumni Conference (click on the Alumni Events link) offered a wealth of fascinating presentations, including Prof. Ross Levine on “Trumponomics and the Global Economy,” Asst. Prof. Juliana Schroeder discussing “Integrative Negotiating Skills,” and an alumni panel offering “Venture Capital Perspectives.”
Do you have what it takes to start an entrepreneurial empire? In Wall Street Journal bestseller Built for Growth (Harvard Business Review Press), Lecturer John Danner identifies four distinct “builder personalities” of highly successful founders— Driver (Apple’s Steve Jobs), Explorer (Facebook’s Mark Zuckerberg), Crusader (Twitter’s Jack Dorsey), or Captain (Alibaba’s Jack Ma). Via research and personal interviews, the book, co-authored with Princeton University’s Chris Kuenne, guides readers to unlock their own builder personality. haas.org/danner-book
Patrick Awuah, MBA 99
Education pioneer Patrick Awuah, MBA 99, has been named among the world’s 100 most reputable people by Reputation Poll, a South African global performance-management consulting company. Awuah, founder of Ghana’s Ashesi University, joins fellow Ghanaian and former UN Secretary General Kofi Annan, Bill and Melinda Gates, the Obamas, Senator Elizabeth Warren, Desmond Tutu, Nobelist Malala Yousafzai, and singer Adele on the list.
All three Berkeley MBA programs earned top-10 status in the U.S. News & World Report’s 2018 Best Business Schools ranking. The Evening & Weekend Berkeley MBA Program held its #1 ranking among part-time MBA programs for the fifth straight year. The Full-time Berkeley MBA Program was again ranked #7 among full-time programs, and the Berkeley MBA for Executives ranked #9 among EMBA programs.
Q@Haas co-founders Ben Burbridge and Adrienne Torf, both MBA 92, flank co-president Lucas Vital, MBA 18.
Twenty-five years ago, Ben Burbridge, MBA 92, had a hard time finding a community of gay students at Haas. Then he met Adrienne Torf and Garrett Hornsby, MBA 92s. “I realized how alone we were when we arrived here, and we didn’t want the subsequent classes to have the same experience that we did,” Burbridge says. So the trio formed a small club.
Today, Q@Haas is a dynamic community of 380 lesbian, gay, bisexual, transgender, and queer students, as well as straight allies. It hosts personal storytelling nights, speakers, panels, and film nights.
Q@Haas Co-president Lucas Vital, MBA 18, who helped organize a celebration of the group’s milestone, said of the founders’ experiences: “Hearing their story and understanding how far we have come is a way to understand and value what we have today.”
Paying attention to overnight stock market returns may help investors develop profitable trading strategies, says a new study co-authored by Haas Asst. Prof. Omri Even Tov. He found that overnight market activity provides a gold mine of information about investor sentiment at the firm level, pertaining to specific stocks rather than the broader market.
Even Tov measured how much returns moved after the market closed and found that in the short term, up to 12 weeks, prices continued to trend in the same direction—what financiers called price “persistence.” The effect was even stronger for firms that are typically more difficult to value.
The findings, forthcoming in the Journal of Financial and Quantitative Analysis, likely reflect investor sentiment because private investors are more likely to trade after hours. They also rely more on sentiment and less on underlying fundamentals (a firm’s intrinsic, not market, value) when making their trading decisions.
Even Tov also studied how stocks performed overnight over 12 months. High overnight returns underperformed while those with low overnight returns outperformed. Buying and selling stocks based on overnight returns yielded a premium of 7.4 percentage points.
Henry Chesbrough, PhD 97
Henry Chesbrough, PhD 97, faculty director of the Garwood Center for Corporate Innovation, was honored with a medal from the Industrial Research Institute (IRI) for his standout work in innovation management. Chesbrough is widely recognized as the father of open innovation, a concept advocating that companies tear down the walls between their R&D organizations and outside companies and innovators. The IRI, which represents 200 industrial and service companies interested in effectively managing technological innovation, has awarded the medal since 1946 to top leaders in industrial research.