Analysis: 2024 Berkeley Haas MBA Salary and Placement Trends

Berkeley Haas MBA Employment Report 2024: Analysis

In this in-depth Haas MBA Employment Report Analysis for the 2024 graduating class, we cover:

1.    Berkeley Haas MBA Placements: By Industry
2.    Berkeley Haas MBA Placements: By Function
3.    Berkeley Haas MBA: Top Employers

Berkeley Haas MBA Placements: By Industry

Consulting and Technology lead as the top industries, employing 25% and 24% of graduates, respectively, followed by Financial Services (16%). 

Consulting leads in Compensation

Consulting led with 25% of graduates hired, offering a mean base salary of $178,051 and a mean signing bonus of $31,994, resulting in a total compensation of $210,045. This is a slight decline in hiring share from 27.6% last year, although the mean total salary remains competitive. In comparison, Darden saw 42.5% of graduates entering Consulting with a higher median base salary of $190,000, while Ross reported 36% of graduates in Consulting earning $185,000, highlighting a comparatively stronger focus on consulting at these peer schools.

Technology Still Strong at Berkeley Haas but Salary Down Across Peer Schools

Technology was the second-largest hiring sector for Haas, employing 24% of graduates with a mean base salary of $154,167 and the highest mean signing bonus of $36,939, totaling $191,106 in compensation. This marks a notable decrease from 29.8% hired last year. 

Ross and Darden, however, reported smaller shares of 15.1% and 8.8%, respectively, though Ross graduates earned a slightly higher median base salary of $157,205.

Financial Services Hire Low But Good Compensation

Financial services accounted for 16% of Haas hires, with a mean base salary of $164,905 and a signing bonus of $43,767, culminating in total earnings of $208,672. This is an increase in hiring share from 14.5% last year. By contrast, Darden reported a much higher 26.5% of graduates in financial services, with a median base salary of $175,000, and Ross had 17.6% hired in the sector at the same salary level.

Healthcare – Small Rise in Hiring

Healthcare/Biopharma employed 8% of Haas graduates, a slight rise from 7.5% last year, with a mean base salary of $146,686 and a signing bonus of $21,111. This industry was less prominent at peer schools, where Darden reported 5.1% and Ross 9.2%, with lower median salaries of $137,500 and $137,250, respectively.

Energy – Another Stronghold at Haas

Energy accounted for 6% of Haas graduates, stable from last year’s 6.6%, with a mean base salary of $150,000. This is higher than Darden’s 1.7% hires at $140,000 and aligns with Ross’s smaller 2.6% share at $147,500. 

Public/non-profit sectors employed 5% of Haas graduates.

CPG and Retail – Above the 5% Mark

CPG and Retail represented 6% of hires, up from 3.9% last year. The mean base salary of $123,500 trails Ross ($125,000) and Darden ($127,000). While Ross's hiring rate of 6% in CPG is more competitive to Haas than that of Darden, which is far behind with a 2.7% hiring rate. 

Non-Profit/Public Sector – Another 5% Mark

The Public and Non-Profit sector employed 5% of Haas graduates, with a mean base salary of $114,551. The lack of reported signing bonuses reflects the traditionally lower compensation in this sector. 

Slowdown Evident at Haas (By Hiring Percentage) but Salary Remains Competitive

Haas’s employment trends reflect its diverse industry representation, with graduates securing roles across Consulting, Tech, Finance, and emerging sectors. However, the slight decline in Consulting and Technology hiring could point to macroeconomic factors influencing demand in these high-paying sectors. Compared to Ross and Darden, Haas graduates continue to excel in niche industries like Energy and Public/Non-Profit. 

While Haas salaries remain competitive, the school could focus on improving Consulting placement rates and base salaries in Financial Services to align with peer schools. 

 

Berkeley Haas MBA Placements: By Function

Consulting continues to dominate as the top function for Haas graduates, with 25% securing roles in the function. 

Consulting – Drop in Mean Base Salary in 2024

The mean base salary stands at $178,489, complemented by an average signing bonus of $33,236, for a total compensation of $211,725. This marks a decline in hiring rate compared to last year’s 28.1%, which also saw a higher median base salary of $192,000. 

The drop in Consulting roles could stem from broader economic factors impacting hiring across the industry. In comparison, Darden reported a 43.9% hiring rate for Consulting with a median base salary of $190,000, while Ross placed 37.9% of its graduates in Consulting roles at a median salary of $182,500 – both faring well in percentage of offers and mean base salary.

Finance – Drop in Mean Base Salary in 2024

Finance saw a slight increase in hiring, with 21% of Haas graduates entering this function, compared to 20.2% last year. However, the mean base salary of $153,041 in 2024 is lower than 2023’s median of $160,000. The mean signing bonus of $41,255 boosted total compensation to $194,296. This performance remains below Darden, where 28.9% of graduates were placed in Finance roles with a median salary of $175,000, and Ross, where 10.3% entered investment banking with a median salary of $175,000. The lower compensation at Haas may reflect the prominence of non-investment banking Finance roles, such as Fintech and Corporate Finance, among its graduates.

General Management/Corporate – Lower Base Salary but Higher Percentage Offer

General Management/Corporate function accounted for 19% of Haas graduates, with a mean base salary of $156,240 and a signing bonus of $24,865, resulting in a total compensation of $181,105. This represents an increase from last year’s 15.4% hiring rate in General Management, though the mean salary is lower than 2023’s $160,000. In comparison, Ross reported a 20.2% hiring rate for General Management roles but with a lower median base salary of $140,000. Darden placed 12.9% in General Management roles with a lower salary of $140,000. The high representation at Haas in corporate functions aligns with its strong connections to industry leaders in the Bay Area.

Technical Roles – Highest Signing Bonus at Haas

Technical roles employed 12% of Haas graduates, offering a mean base salary of $154,493 and a strikingly high mean signing bonus of $69,444, for a total of $223,937. This category was absent in last year’s function breakdown but reflects the growing demand for MBA talent in product management and technical leadership roles, especially given Haas’s proximity to Silicon Valley. 

While Darden placed only 3.1% in Information Technology roles with a median salary of $150,000, Ross did not report significant placements in this function.

Marketing Roles – Better Compensation than Peer Schools

Marketing and sales roles accounted for 10% of placements, up from 8.8% last year. The mean base salary of $140,692 and a signing bonus of $31,208 brought total compensation to $171,900, slightly lower than last year’s median salary of $141,750. Compared to Ross, where 17.6% of graduates entered Marketing roles with a median salary of $128,000, and Darden, which placed 6.5% at $120,000, Haas’s outcomes suggest a focus on higher-value Marketing roles in sectors like tech and CPG.

Real Estate and Operations – Better Placements at Berkeley Haas

Real estate employed 4% of Haas graduates with a mean base salary of $123,800. Operations roles accounted for 3%, offering a mean base salary of $128,861. These hiring rates are relatively unchanged from last year, but compensation in operations has decreased from $155,000 in 2023. Both functions remain niche, with comparable representation at Darden (2.7% in operations/logistics) and Ross (4% across real estate and operations combined).

Haas graduates exhibit diverse functional preferences, with no single function exceeding 25% of placements, unlike Darden and Ross, where Consulting and Finance dominate.  Additionally, Haas’s strong performance in technical roles reflects its unique positioning in Silicon Valley, a trend not observed at peer schools.

Overall, Haas maintains competitive compensation across functions but faces challenges in matching peer schools' salaries in Consulting and Finance. 

 

Berkeley Haas MBA: Top Employers

The 2024 top employers include Adobe, Amazon, Bain & Company, BCG, Deloitte, EY, McKinsey & Company, Strategy&, The Clorox Company, and Western Digital. These companies represent diverse industries, with Consulting firms (Bain, BCG, McKinsey, Deloitte, EY, and Strategy&) leading the list, followed by Technology (Adobe, Amazon, Western Digital) and Consumer Goods (The Clorox Company). This mix underscores the prominence of Consulting and Technology as primary recruiters for Haas graduates.

Consulting Dominates

Consulting firms continue to dominate, similar to the previous year, reflecting a stable demand for MBAs in strategic and advisory roles. 

Bain & Company, BCG, and McKinsey remain consistent top recruiters, while Deloitte and EY have sustained their strong hiring presence. The representation of six Consulting firms among the top employers aligns with the broader industry trend of Consulting being a preferred function for MBA graduates. However, there is a notable absence of PwC Strategy&, which was listed in the 2023 report.

Technology – Amazon present but Apple, Microsoft, Tesla and TikTok Absent

The Technology sector is represented by Adobe, Amazon, and Western Digital, marking a slight consolidation compared to the 2023 report, which featured tech giants like Apple, Microsoft, Tesla, and TikTok. The absence of these companies could reflect the broader challenges in the tech industry, including cost-cutting measures and a reduced focus on large-scale MBA hiring. Amazon, a consistent recruiter, remains a key player.

Consumer goods are represented by The Clorox Company, which aligns with Haas’s strong focus on sustainability and brand management focus. This contrasts with the 2023 report, where no major consumer goods company was prominently listed.

The 2024 top employers list notably excludes Financial firms like Evercore Partners and PayPal, which were present in the previous year.
 

Reference

• Berkeley Haas MBA Employment Report