Tech Rebounds, Salaries Jump For 2019 Berkeley Haas MBAs

Median starting salaries for the Berkeley Haas Class of 2019 jumped to $140K from $125K, where they had been for four straight years. Total compensation rose to more than $162K, an 11.5% increase over 2018. File photo

In another upward trend in Haas’ latest report, 46% report receiving stock options in their new positions; last year that number stood at 41%, and five years ago it was barely over 30%. Stock options are particularly important parts of compensation packages in tech and financial services. Scott says that because Haas has such a strong contingent of students that go into the technology sector, the compensation reflected in jobs report misses the actual amount of compensation that they receive in the form of stock. “So I think when you’re looking at compensation and comparing schools, that’s something that’s really important to take into consideration,” she says.

“As far as we’ve been able to look back in recent years, the 46% reporting stock is the highest. Now keep in mind, it’s not just options, and some of the more mature companies, there’s restricted stock units, so certainly we don’t have that number of options. But participating in the success of the company based on stock is certainly a key measure.”

Another key measure was left out of the employment report entirely, Scott says. A better indicator of graduate inclination than the Nonprofit category that shows a drop this year to 1.9% of the class, she says, is the 11% of grads who report that their role has some social impact component to it.

“It’s less about compensation and more about what students are interested in these days, and that’s social impact,” Scott says. “We know that our MBA graduates want to make significant impact in the world with their work, in their role or with a company that is dedicated to positive social impact. I think social impact is the area where students are wanting to be and wanting to make a difference, and they’re certainly compensated for their work in those areas.”

HOW WILL STEM DESIGNATION IMPACT HAAS JOBS? TIME WILL TELL

Berkeley Haas, ranked No. 8 this year (and last year) by P&Q, is one of the smallest MBA programs in the top 10. That makes , in some ways, a decline in applications more pronounced — and alarming. Apps to Haas were down 9.7% this cycle, and 16.5% in the last two years. So it should be no surprise to see Haas make moves to arrest the slide.

Among those moves was the school’s recent conversion of all three MBA programs to STEM-designated programs. How will STEM designation impact future jobs reports? Time will tell, Scott says.

“Yeah, we’ll have to wait and see. You know, our international students fared pretty well in the job market, as they always do. We certainly know that some companies are not sponsoring students for H1-B visas and that has, of course, a big impact on the choices that our international students make. I think with respect to STEM, I think it opens a door for a conversation, but we’re still kind of in the wait-and-see period to determine whether this will have an impact on our MBAs.

“I think we certainly know employers have been curious about the STEM extension, and we’re doing our best to get them the information that they’re seeking. But I think it’s early. It’s early to say if there will be a major impact.”

DON’T MISS UC-BERKELEY HAAS’ MBA PROGRAMS ARE ALL STEM-DESIGNATED NOW and FOCUS ON DIVERSITY PAYS OFF IN LATEST BERKELEY HAAS CLASS