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Berkeley Haas MBA Admissions & Related Blogs

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Snaps & Claps: The Story of Berkeley Alums and Shazam’s $400M Apple Ac  [#permalink]

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New post 30 Jul 2019, 07:00
FROM Haas Admissions Blog: Snaps & Claps: The Story of Berkeley Alums and Shazam’s $400M Apple Acquisition
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In 2017, Apple announced it would be purchasing the music application Shazam, and in 2018, the roughly $400 million acquisition was finalized. Though you might be familiar with the app, you might be unfamiliar with its story. Specifically, that two of the co-founders, Chris Barton and Philip Inglebrecht, were classmates at UC Berkeley, and the idea of Shazam was developed at the Haas School of Business.

The creation of Shazam
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1999 was the year that UC Berkeley MBA student Chris Barton had the ‘aha’ moment that would change his life forever.

Barton came to Haas with the idea to develop radio-monitoring software, but he didn’t know what the end goal would be. At the time, Barton thought his technology would be best used in radio stations, and worked to figure out

  • How would the technology be used?
  • How would it be applicable in the current market?
  • How would competitors keep pace with their technology?
However, after taking a Strategic Innovation course, taught by Costa Markides, Barton had a realization. Markides’ emphasis on unconventional thinking and innovation in the business world pushed Barton to change his perspective on how his radio-monitoring technology could be used.

In a 2015 interview with Danielle Newnham, co-founder of @fequalsHQ, Barton explained how he adjusted his thinking from a technology suited for radio stations to one that would better serve consumers.

“What if someone could identify the song using the actual sound of the music captured over the mobile phone? Then, they would not need to know what the radio station was playing at all because they would actually identify using the sound of the music itself.”

At that moment, Barton was ready to start Shazam.

Meet Shazam’s dream team
Barton wasted no time founding his new company. Still, he knew he needed help bringing his idea to market, and he began to assemble his dream team.

The result was a team comprised of co-founders Philip Inghelbrecht, Dhiraj Mukherjee, and Avery Wang.

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Inghelbrect attended the Haas School of Business alongside Barton. Inghelbrect has said that earning his MBA in the Bay Area during the late 1990s fostered his passion for technology. He also believes the connections he made and the experiences he had there directly influenced his ability to co-found Shazam.

 

 

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Mukherjee was a long-time friend of Barton’s and an MBA student at Stanford. When assessing who should join the executive team, Inghelbrecht and Barton determined that Mukherjee’s leadership and operational skills were amongst his greatest assets. Inghelbrecht said, “[Dhiraj] brought a lot of product and operational expertise to the business, something I knew very little about. He did so with a calm, zen, and diplomacy.”

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Barton, Inghelbrecht, and Mukherjee needed one final person to complete their dream team: an expert in sound. By leveraging their network of professors from Stanford and Berkeley, they found Avery Wang. Though he earned his PhD in Auditory Scene Analysis at Stanford, Wang said his early exposure of technology began at UC Berkeley.

“I’d constantly pester my parents to take me to the Lawrence Hall of Science in Berkeley so I could get some computer time on a 10 character-per-second teletype terminal that printed on a roll of paper.”

The timeline of Shazam
Shazam started from humble beginnings, with students who had a vision and foresight but still needed more information to fine-tune their product. The evolution of Shazam came from in-market learnings and opportune changes within the marketplace.

2002: Shazam initially deployed in the U.K. market only, and was known as ‘2580.’ The numeric code represented the phone number consumers could dial to initiate the music recognition process. After a 30-second phone call, a consumer would receive a text message detailing the song title and artist name.

2004: In partnership with the now-defunct San Francisco-based company, Musicphone, Shazam deployed in the U.S. market on the AT&T Wireless network.

2006: Shazam’s product first became monetized in the U.K. and users that initiated a text were charged £0.60 per request, or given the option to pay a flat monthly fee of £4.50.

2008: In 2007, the iPhone was invented, and subsequently, the App Store. In 2008, Shazam launched its free app to the App Store, which allowed users to open iTunes and buy songs directly after Shazam identified them. According to a 2018 article in TechCrunch, Shazam was one of the first apps available in the App Store.

2009: According to CNBC, by 2009, Shazam had been downloaded by more than 10 million users. Roughly 8 percent of consumers purchased a track directly after requesting the song title and artist from Shazam’s app.

2011: CNET reported that Shazam was the4th most downloaded app on the App Store of all time.

2012: Shazam had over 225 million users in more than 200 countries.

2014: The release of Apple’s iOS 8 was a significant turning point for Shazam as the new operating system integrated the music recognition software into Siri’s functionality.

2016: Snapchat integrated Shazam’s technology so users could identify music playing in Snapchat videos by pressing and holding the camera screen.

2017: Apple announced the acquisition of Shazam for $400 million, and in 2018, the purchase was finalized.

Finding inspiration in the right places
The story of Shazam ends prosperously for Chris Barton, Philip Inghelbrecht, Dhiraj Mukherjee, and Avery Wang. But their success isn’t an outlier. It was a result of learning innovation during their MBA studies, ongoing dedication, and their ability to leverage their networks successfully.

The exposure to Berkeley professors and classmates allowed the Shazam leadership team to improve and iterate on their concept, find like-minded people to share their vision, and execute on a product that found massive market success.

Your story is next.

Are you ready to be inspired? If you’re looking to foster your entrepreneurial spirits like Barton and Inglebrecht, learn how Berkeley can help.

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7 Things Every Student Should Know about the MBA Program at Berkeley  [#permalink]

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New post 01 Aug 2019, 06:00
FROM Haas Admissions Blog: 7 Things Every Student Should Know about the MBA Program at Berkeley
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Potential MBA candidates are likely taking a broad approach when choosing the ideal program and school. After all, your time spent obtaining an MBA will impact your day-to-day life, including the content of your education, who you spend your time with, and where you live.

That means looking at everything from curriculum and professors to location and culture to determine which MBA program satisfies your career needs best.

Here are seven reasons why the MBA program at Berkeley is considered a top choice for those striving to strengthen their professional resume and business acumen.

1. Innovative curriculum
Berkeley’s MBA program has one goal in mind: help you develop as a leader who is capable of turning innovation into measurable impact. TheBerkeley Innovative Leader Development (BILD) is a connecting theme that runs through the MBA curriculum. This interdisciplinary approach tobusiness fundamentals guides you to think differently, considering multiple perspectives.

Berkeley pushes its MBA students to go beyond coursework and discussion and to build on your knowledge throughexperiential learning opportunities. You have a choice of 20applied innovation courses--and you’re welcome to take more than one. Through this experience, you’ll get the opportunity to consult with major firms in the Bay Area to take what you learn in class and apply it to working with real Silicon Valley companies.

2. Highly-skilled professors
Berkeley Haas is home to pioneering researchers, expert practitioners, and Nobel Prize recipients. MBA faculty members are more than teachers, they are scholars, researchers, and business leaders who leave a mark on each student they teach.

Our professors go beyond class lectures by requesting case studies, welcoming guest speakers, and challenging students toquestion the status quo during simulations.

Furthermore, Berkeley is proud to be home to five economics professors who have been recognized for their work with the Nobel Prize in Economic Studies:

3. Ever-growing — but established —network
Haas is known for having the smallest class sizes of all top business schools in the nation. Last year, Berkeley welcomed only 291 candidates to its MBA program.

Being a member of a small class means getting a chance to know everyone, forging meaningful connections, and building a strong network. Your class will form the closest circle in your network, but by graduating from Haas, you also have the advantage of becoming part of theBerkeley Alumni Network, which is nearly half a million strong.

The enviable Berkeley Haas alumni network of more than 41,000 is comprised of local and global leaders who stay connected to their alma mater to share insights, advice, contacts, and connections with Haas’ future leaders.

Haas alumni include:

  • Barbara Desoer, CEO of Citibank (MBA, 77)
  • Cathie Lesjak, CFO of Hewlett-Packard (MBA 86)
  • John Hanke, CEO of Niantic Inc. (MBA 96)
  • N. W. Jasper, President and CEO of Dolby Laboratories (MBA 71)
  • Takehiko Nakao, President, Asian Development Bank (MBA 82)
4. Strong emphasis on global learning
Berkeley recognizes the new economy is increasingly global, especially given the growth of borderless digital communities.

MBA candidates can choose to pursue a global MBA, both in the classroom and across the world, through several global learning opportunities:

  • International Business Development (IBD): MBA students help clients from around the world tackle value-enhancing projects, providing experiential learning in international management consulting
  • Global Network for Advanced Management (GNAM): Students can explore how business is done around the globe via this network of top business schools across five continents
  • Exchange program: MBA students have the option to study abroad in their second year in Hong Kong, Spain, France, or England
  • MA in Global Studies: A one-year Masters program that takes an interdisciplinary approach to learning about international issues
5. Distinct culture
Berkeley is known for its distinctive culture thanks, in part, to the diversity in the student body, the curriculum, and the faculty. Your MBA experience and who you become is shaped by our fourDefining Leadership Principles:

  • Question the Status Quo: Challenge convention and speak your mind. Champion bold ideas and take intelligent risks
  • Confidence without Attitude: Make decisions and act with confidence based on evidence and analytics, not arrogance
  • Students Always: Create the foundation for a lifelong pursuit of personal, professional, and intellectual growth
  • Beyond Yourself: Lead ethically and responsibly, which sometimes means putting other interests above your own
We believe the culture we cultivate at Berkeley, as shaped by ourDefining Leadership Principles, creates an environment that promotes and supports teamwork, collaboration, and involvement.

6. Thriving location
Berkeley not only offers students front-row access to a region known for its scenic beauty, sophisticated culture, and engaged communities, it also happens to be located in one of thelargest economies in the world: the Bay Area.

The San Francisco Bay Area is home to more than 2,000 tech companies ⁠— the densest concentration in the world. By taking advantage of programs like the Startup Lab, Haas MBA students have a chance to easily step into this booming world and benefit from incubators filled with innovative minds and trailblazers in the region both during the program and post-graduation.

7. Attractive post-graduation employment statistics
Berkeley’s MBA graduates are proof why Haas ranks among the top business schools for return on investment – in salary alone.

We know top companies seek out Haas graduates because they have a solid foundation ingeneral management fundamentals, as well as the tools to turn vision into reality.

Class of 2018 Employment Report:

  • 94.4%: The percentage of the class who received offers up to three months after graduation from Haas
  • $125,000: Median base annual salary
  • $29,212: Mean sign-on bonus
  • 24.6%: The percentage of the class who entered into consulting
  • Top employers: Adobe, Amazon, Deloitte, Google, Tesla, Ideo, Parthenon
If you’re ready to learn more about the Berkeley Haas experience,schedule a tour orrequest more information today.

 

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Physician-Leader Finds his “It Factor” via Berkeley MBA, Adam Tibble,   [#permalink]

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New post 01 Aug 2019, 10:00
FROM Haas Admissions Blog: Physician-Leader Finds his “It Factor” via Berkeley MBA, Adam Tibble, MD, EMBA 17
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Adam Tibble, MD, EMBA 17, had already proved himself a capable leader before arriving at Berkeley.

As a medical resident, he created an innovative airway device and launched his first startup. As a US Air Force captain, he served two tours in Afghanistan and headed a Critical Care Air Transport Team that evacuated severely wounded soldiers to medical facilities in Germany. As a cardiac anesthesiologist at NorthBay Healthcare in Fairfield, California, he attained the position of director of cardiac anesthesia.

So why would such an accomplished physician pursue a Berkeley MBA?

Simply put, he was in search of his “it factor,” a concept he drew from his pre-med days playing football for the University of Notre Dame.

“I was fascinated by coaches who inspired players to follow them with trust and ferocity,” says Adam, a graduate of the Berkeley MBA for Executives program. “I wanted this ‘it factor’ to help me lead a hospital’s physicians, nurses, and staff, and I believed Berkeley could help me find and develop mine.” Today at age 39 in addition to his director role, Adam serves as NorthBay’s vice chief of staff and as a partner in a promising new medical startup. His time in the Berkeley MBA program helped him gain the business skills, language, and inspiration needed to transform his leadership style and his corner of the healthcare market.

Finding “It”
Courses in finance and data science expanded Adam’s knowledge base and business vocabulary. “In planning meetings, I can now say a term like ‘customer lifetime value’ and it turns some heads. They realize this doctor might actually understand what they’re talking about.”

But it was his training in soft skills such as leadership communication that triggered his ‘it factor.’

The Leadership Communications Immersion Week led by Professor Mark Rittenberg unleashed Adam’s storytelling ability including how and when to express emotion. It has changed the way he leads meetings, shares patient stories, and talks with fellow medical staff. Adam now makes things more interactive so people actually look forward to “Dr. Tibble” meetings.

Executive Leadership, taught by Professor Jennifer Chatman, revealed how to frame his organization’s inspirational story. He uses that framework to motivate others and to position NorthBay strategically in a competitive market.

“It’s simple, really. You tell people what is wrong, what challenges you face, and then you follow up with, but here’s who we are and what we can do,” he says.

Getting Inspired
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His own inspirational story emerged during his Entrepreneurship and Innovation Week when he attended a talk by Dilbert cartoonist Scott Adams, MBA 86. Adams likened successful entrepreneurship to riding horseback through a dark forest while shooting arrows at targets. Although difficult to do, sooner or later, you will hit one.

The metaphor resonated with Adam, who had already seen two of his startup efforts fizzle. The cartoonist’s story reminded him that people rarely succeed on their first, second, or even third tries. So he decided to keep shooting his arrows.

While still in the MBA program, he launched a clinic to treat patients using ketamine, a battlefield anesthetic that is also used in cardiac anesthesiology. Adam’s clinic, however, would use ketamine to help those with depression, PTSD, and other mental health disorders—an off-label use that recent research indicated could prove more effective than conventional treatments.

Unfortunately, his business partner moved out of state and that venture, too, ended.

Going the Distance
Adam recently decided to try again and opened the Klarity Clinic of Northern California. Applying lessons learned at Haas, his new venture offers both ketamine infusions and cosmetic treatments such as Botox injections and laser hair removal. The latter helps to keep the business solvent, and also funds the discounted ketamine treatments the clinic offers veterans and others who may not be able to afford them.

Adam dreams of contributing even more to healthcare and the greater good. The Berkeley MBA program, he says, helped position him for that goal.

“It showed people at my hospital that I was invested in leadership,” he says. “I was tapped to be a credentials chairperson. That evolved into the vice chief of staff role. I believe the MBA program caused these opportunities to come much earlier in my career than they would have otherwise.”

Ready to find your “it” factor? Explore how to supercharge your leadership skills in the Berkeley MBA for Executives.

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Is the Berkeley MBA a Good Fit for You? Ask Yourself these 4 Questions  [#permalink]

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New post 06 Aug 2019, 06:00
FROM Haas Admissions Blog: Is the Berkeley MBA a Good Fit for You? Ask Yourself these 4 Questions to Find Out
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Your life is filled with choices. Some—soup or salad with my sandwich at lunch?—are routine. Others—would an MBA help me achieve my career goals?—will have a long-lasting, powerful impact on the course of your career.

Your answer to that second, career-altering question prompts still more questions, like which MBA program can best help you achieve your unique professional goals?

If you’d like to attend one of the best business schools, we can help you make a more informed decision by highlighting what the Berkeley Haas School of Business has to offer.

Your answers to the following four questions will give you a feel for whether the Berkeley MBA program is the right fit.

Question #1: Do you tend to create opportunities for yourself?
You may think of yourself as an intrapraneur, someone within a company who promotes innovative product development and marketing. Or you may consider yourself to be more of an entrepreneur: a person who organizes and operates a business or businesses, taking on financial risks to do that. Both types of professionals grab their professional lives by the horns. Becoming an intrapreneur can boost your career and help you solve business challenges within your organization. This makes you highly desirable and marketable. Becoming an entrepreneur empowers you to create, launch, and run what could be a profitable company.

The Berkeley Haas MBA program is designed to help both intrapreneurs and entrepreneurs become the best versions of their professional selves. We offer hands-on courses, specialized programs, 1:1 mentoring, and the resources to launch and lead. At Berkeley Haas, you’ll learn exactly how to pitch an idea that’s backed by research and gain the confidence to execute it. Immersing yourself in this dynamic learning environment will empower you to develop new connections and create new business opportunities.

Question # 2: Do you challenge conventional business models?
Are you eager to break the business-as-usual mold? Are you itching to challenge conventional wisdom? If your answer is yes, that’s another compelling reason why the Berkeley Haas School of Business may be the right fit for you.

When you enroll in our MBA programs, you’ll study design thinking, a product development model that relies on a post-structuralist humanistic framework for iterating better ideas into reality in stages. Intrapreneurs and entrepreneurs alike are attracted to areas like design thinking that challenge the status quo and make product development a user-informed energetic exchange, rather than a top-down, supply-demand ecosystem. As a Berkeley Haas MBA student, you’ll dig deep into this approach to product development, while developing the leadership skills needed to challenge conventional business models.

Question # 3: Do you value creative collaboration?
While you’re busy creating new business opportunities and challenging conventional business models in your day-to-day professional life, do you find yourself gravitating toward participating in creative collaboration with colleagues? If your answer to this question is yes, you’re perfectly aligned with the philosophy and approach of the Berkeley Haas MBA program.

One of the most salient benefits of enrolling in a full-time MBA program is the opportunity to collaborate with fellow forward-thinking individuals and leaderswho each bring their own set of experiences and values to the table.

With 2,200+ undergraduate and graduate students studying to earn one of six types of business degrees, the Berkeley Haas student experienceis a buzzing laboratory for creative business ideas. Each day provides opportunities to collaborate and be part of a community that brings out the best in each other. Join clubs and affinity groups, take trips, try new things, and have some fun while stretching your leadership skills and cementing lasting relationships.

Explore Berkeley student co-curricular activities.

Question # 4: Do you want to fast-track your career?
While innovation, collaboration, and inspiration form the foundation of what you’ll experience through Berkeley Haas MBA programs, individual career achievements (professional and financial) are important, too. If you want to fast-track your career, earning your MBA from one of the top business schools can be a very effective way to get there.

While you can certainly learn lessons, challenge yourself, and grow on the job within any organization, an immersive MBA experience will expedite your professional growth. Your goal may be to launch innovative products that change the world from within your company. Or perhaps you want to take on a leadership position and be promoted within your organization. Then again, you may want to start your own company and rise to the challenge of entrepreneurship.

To achieve your goals as quickly as possible, you need to build your business expertise and strategic skills. Choose from three program styles designed to fit your lifestyle, while challenging you and empowering you to dream even bigger.

Take the first step to expand your network and opportunities.
For people who naturally have an entrepreneurial mindset, our MBA programs are incredibly empowering and worthwhile. In fact, they’re designed just for leaders like you.

Learn a new way of thinking within a new economy, while positively impacting your career trajectory in the heart of Silicon Valley.

Explore the Berkeley Haas School of Business MBA programs.

 

 

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Haas alum leverages curiosity into a cleantech career  [#permalink]

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New post 15 Aug 2019, 10:00
FROM Haas Admissions Blog: Haas alum leverages curiosity into a cleantech career
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It was 1986 and a teenaged Mukund Chavan, EMBA '15, landed on the East Coast from India deeply curious about the technology that was incubating across the country in Silicon Valley.

"There was so much going on with computers, and I was intrigued by that," he says. "It seemed like a natural area of study for me, and once I got into it, I really liked it. So much so that I got my undergraduate degree in computer engineering from Syracuse University and moved to Silicon Valley to work for Intel in 1992."

This impulse to follow his curiosity has served Mukund well throughout his career, sparking the launch of three startups (Hyperion Technologies, Aarohi Communications, and RackWare), a stint at Advanced Micro Devices (AMD), and now, post-MBA, his position as director of hardware engineering at Tesla. Having long worked in the tech field, Mukund did not see a shift to the cleantech arena coming – “but it fits,” he says.

"By the time Tesla came across my radar, it had been around for a while, and I was interested in its mission to accelerate the world's transition to sustainable energy," he says. "It seemed like a good goal to contribute to. I had worked in tech for a long time, and I never thought I'd work for a car company, but I soon realized that it's more like Tesla is a tech company that happens to make cars."

The idea to pursue an MBA began to percolate for Mukund during his tenure at AMD. He suspected the degree could fill in the gaps of his business knowledge and in his research on possible schools, Haas came to the top of his list.

"I was drawn to Berkeley's reputation for rigorous academics and innovation," he says. "And I knew the MBA would round out the practical, 'school-of-hard-knocks' experiences I'd already had with a set of fundamental business tools."

The Berkeley MBA for Executives appealed to Mukund because of its compressed curriculum of 19 months – rather than 36 – and its Friday-Saturday intensives.

"I enjoyed being able to spend all day in the classroom on Fridays and Saturdays, getting one-on-one input from my professors and working collaboratively with fellow students," he says.

During his time at Haas, Mukund was particularly impacted by Professor Jennifer Chatman's Executive Leadership course.

"I appreciated the quantitative approach she took to help us identify our leadership style and strengths using classroom exercises," he says. "I learned that leadership is often about changing the culture of an organization and being aware of how you influence your team."

Mukund also benefited from the EMBA's field immersion experiences at the end of each term, including a week in Napa focused on leadership; another in Silicon Valley dedicated to innovation and entrepreneurship; a visit to Washington, D.C. focused on public policy and business; and an international experience, which brought Mukund to Brazil, where he and his fellow students learned about the Brazilian economy from its banks to its favelas.

The academic work and the immersion experiences required for the EMBA dovetail well with Haas's Defining Leadership Principles, particularly "Students Always" and "Question the Status Quo," according to Mukund.

"You always have to be willing to learn new things and push existing limits, and the EMBA program emphasizes that," he says. "That kind of curiosity defines effective leadership and leads to an effective career."

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Curious About Post-Grad MBA Salary? Learn Which Concentrations Pay the  [#permalink]

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New post 20 Aug 2019, 07:00
FROM Haas Admissions Blog: Curious About Post-Grad MBA Salary? Learn Which Concentrations Pay the Highest.
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Advancing in a career and growing wages are two common reasons MBA hopefuls apply to top business schools. Data published by the National Association of Colleges and Employers reveal that the average starting salary for the class of 2019 MBA grads is $84,580, or roughly $25,000more than the starting salary for those who only hold a bachelor's degree.

While this salary difference is already significant, there are opportunities for even higher earning potential, depending on which industry, function, and specialization you select and pursue. Discover which MBA career paths you can choose from, and learn where the highest earning potentials exists.

Highest post-grad MBA salary by industry
According to data from the 2018 MBA program at UC Berkeley, and the242 students who graduated, the median starting salary across all industries and functions was $127,571. Specific sectors fared better than others when it came to opening offers though. Consider the following rankings:

#1: Media and entertainment, mean base salary of $136,667

#2: Technology, mean base salary of $132,784

#3: Consulting, mean base salary of $132,268

#4: Transportation and logistics services, mean base salary of $126,617

#5: Financial services, mean base salary of $125,583

#6: Manufacturing, mean base salary of $121,429

#7: Energy, mean base salary of $120,667

#8: Consumer packaged goods (CPG) and retail, mean base salary of $119,344

#9: Health, BioTech, and Pharma, mean base salary of $114,600

#10: Nonprofit and public sector, mean base salary of $109,125

#11: Real estate, mean base salary of $98,910

Berkeley proprietary data shows that 70% of all students in the 2018 class received sign-on bonuses, with the technology industry offering the highest bonus, averaging $35,337. The industry with the lowest average sign-on bonus of $21,208 was CPG and retail.

Highest paying post-grad MBA salary by function
Within each industry, there are various functions with higher demand and value in the current marketplace. As a result, identifying particular job roles inside highly paying sectors can improve your salary upon graduation from an MBA program as well. According to data from the 2018 graduating class at Berkeley Haas School of Business, the following functions were the most highly paid:

#1: Business development and strategy, mean base salary of $132,890

#2: Consulting, mean base salary of $129,929

#3: Finance, mean base salary of $117,952

#4: General management, mean base salary of $125,682

#5: Marketing, mean base salary of $130,825

#6: Operations, mean base salary of $121,945

#7: Real estate, mean base salary of $1213,547

#8: Rotational program, mean base salary of $129,714

By function, the highest mean sign-on bonus was in the rotational program, which averaged $57,000. The lowest average sign-on bonus was $20,500, in the business development and strategy function.

Why MBA students should select a specialty
Entering into a well-paying industry or function is only one component that influences the salary metrics cited above. Students also have the opportunity to specialize in an industry or function, rather than becoming a generalist, which can increase mean payouts. For example, at Berkeley, you can select an area of emphasis in social sector leadership, entrepreneurship, or corporate social responsibility. By focusing on these niche areas of business, you’re learning adaptable, future-facing skills that will help you achieve specific career goals. A specialized MBA will not only give you a competitive edge—boosting your odds of landing an interview or receiving a job offer—it can also increase your wages.

Research shows that MBA concentrations focused on verbal concepts and critical thinking over technical or quantitative skills may have higher wage increases year-over-year. For example, the mean starting salary for an MBA student who specializes in international business is $62,600 and increases to $121,000 as a mid-career average. Likewise, the innovation management average starting salary is $62,600 and rises to $134,000 at mid-career.

Furthermore, according to Berkeley Haas School of Business graduate, Jack Song, "With the specialization, you gain a close network that helps in learning the latest trends. It also helped me obtain my career goals with my first job out of MBA school."

Are you ready to determine which MBA career path is right for you? We can help. Contact Berkeley Haas School of Business today.

 

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The Evolution of the MBA: Professional Advancement in the Information   [#permalink]

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New post 22 Aug 2019, 07:00
FROM Haas Admissions Blog: The Evolution of the MBA: Professional Advancement in the Information Age
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When we discuss the MBA, the first things that come to mind are its practical applications and benefits in today’s modern, technology-filled global business world. But did you know the Master of Business Administration, or MBA, has been around for well over 100 years? Let’s take a look at how it all began and where it can take you.

The history of the MBA
In the early 1900s, companies were looking for a scientific approach to management. To meet this need the Harvard Business School established the first MBA program in 1098. Eighty students enrolled in the first year, taught by 15 faculty members.

According to the Economist, the MBA then “developed from the accounting and book-keepingcourses introduced as the country lost its frontier image and began to industrialize.”

At the time, the concept of a formalized business program wasn’t looked upon as being on the same level as earning an advanced degree in disciplines like law and medicine. But over the years, the appeal of learning about the science of management spread and the number of MBA students at Harvard steadily increased:

  • 1908: 80 students
  • 1920: 300
  • 1930: 1,070
As the Machine Age, the Age of Oil, and the Jet Age became significant time periods in modern history, these transformational industries required managers who knew how to run a thriving, fast-paced business.

The MBA begins to evolve
But Harvard wasn’t the only school that would begin to cater to new economic demands. In the decades to come, the popularity of the formalized MBA continued to expand, as many schools soon began offering MBA degrees. The original approach to the MBA program, based on Frederick Winslow Taylor’s Principles of Scientific Management, became a springboard that other universities used to launch a variety of modern-day, specialized MBA programs focusing on specific business areas.

In 1955, the UC Berkeley MBA is born
In 1898, just a few years before the first MBA was awarded on the East Coast, the Haas School of Business was established as the College of Commerce of the University of California. In 1955, the UC Berkeley Graduate School of Administration officially opened and joined the cohort of America universities that awarded MBAs to students who completed a specific study path.

One year later, in 1956, UC Berkeley launched executive MBA education programs to help developing leaders reach their full potential and produce tangible results when leading companies in every industry.

Fast forward to the present. On a global scale, the human race is experiencing the Information Age -- also called the Computer Age, Digital Age, or New Media Age -- and it’s changing every aspect of life, from business to healthcare, to the way we socialize with our family, friends, and colleagues. We’re part of an economy based on information technology that’s powered by a global workforce. To continue to thrive and innovate, small and large companies need strong, well-trained, entrepreneurial leaders and visionaries at the helm to not only survive the pace of innovation but truly thrive and scale.

What UC Berkeley offers students in 2019 and beyond
If innovation excites you, you’ll have access to all kinds of fundamental and specialized courses -- particularly in the information technology space -- that prepare you for both traditional and non-traditional jobs after graduating. Courses are designed to help you develop as a leader who is capable of turning innovation into impact.

Learn about Data and Decisions, Operations, Macroeconomics in the Global Economy, the Fundamentals of Design Thinking, and a plethora of hands-on courses. Experience and benefit from modern programs like the Institute for Business Innovation, which “disseminates pioneering research on innovation, trains students to be inventive and entrepreneurial leaders, and facilitates innovation in both the startup and corporate domains.”

The Berkeley Haas School of Business offers MBA courses in the following areas:

Furthermore, the UC Berkeley MBA program offers an average of 65 electives each semester (50% of which incorporate hands-on projects), and 12 required courses. Learn more about our rigorous and interdisciplinary MBA curriculum.

A UC Berkeley MBA can advance your career in almost any industry
The courses you take and hands-on experience you gain through enrolling in the UC Berkeley MBA program equip you with a very valuable and marketable set of skills you can use across a variety of industries.

For example, nearly one-third of the 2108 graduates went to work in the tech sector, one-quarter were hired by consulting firms. Their classmates pursued positions in finance (14%), CPG/retail (8%), and the nonprofit and healthcare sectors (both 4%).

The top employers of Haas graduates range from the Boston Consulting Group and McKinsey to Google and Amazon, Deloitte and Tesla. And, 14% go to work in start-ups.

Why it’s important to get an MBA now
Knowing the history of the MBA helps potential MBA candidates understand the exciting evolution this graduate degree has undergone. As the pace of human and technological development continues to accelerate during the Information Age, the UC Berkeley MBA specifically -- nestled next door to buzzing Silicon Valley -- keeps evolving. We rise to meet the challenge of training the world’s best leaders. Through specialized training focused on innovation, entrepreneurship, and experiential learning, the Berkeley MBA is empowering professionals to run and support thriving businesses that have a global impact.

Want to be prepared to create your own opportunities in the Digital Age? Explore how top-ranked UC Berkeley MBA programs can give you the tools to make it happen.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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This post has been originally posted on the Admissions Blog and re-posted here for convenience
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The Evolution of the MBA: Professional Advancement in the Information   [#permalink] 22 Aug 2019, 07:00

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