My two-cents. I believe Haas (Stanford is relatively similar) has more students stay "regional" than other schools by choice. The Bay Area is already one of the top locations for post-MBA jobs due to the number of new, exciting, and innovative companies in the area. When you add weather, topography, and the sheer amount of activities there are to do in Northern California, you end up with a lot of people that don't want to leave. This has pros and cons. One drawback may be that some recruiters from non-traditional locations choose not to recruit at Berkeley because they don't anticipate a solid yield. Haas has such a strong reputation that it is certainly not regional but it may take a bit more effort to get to under-the-radar locations. Many, many, many students do still leave: the most popular U.S. destinations tend to be NYC, Boston, Los Angeles, Texas, Seattle, and Chicago but the alumni network might be a bit smaller. Some alums also tend to leave the Bay Area a few years post-graduation.