Master of Financial Engineering Program ranked #2 by Quantnet

The Berkeley Haas Master of Financial Engineering (MFE) Program returned to the #2 ranking in this year’s Quantnet survey of US financial engineering programs. It ranked #5 for the two prior years.

Higher employment scores and starting salaries for the March 2021 graduates were key factors in this ranking.

Quantnet bases 55% of its ranking on employment outcomes, including employment rate at graduation (10%), employment rate three months after graduation (15%), average starting salary and sign-on bonus (20%), and an employer survey score (10%). Student selectivity accounts for 25% of the ranking, and a peer assessment score for 20% of the ranking.

Find a full report at Quantnet.com. In comparison, the Berkeley Haas MFE continues to rank #1 in TFE (The Financial Engineer) Times.

Junaid Lughmani: Starting my MBA as a country I love collapses

Man with Afghan flag
Photo by: Robert Michael/picture-alliance/dpa/AP Images

Junaid Lughmani, MBA 23, found himself torn between two worlds last week, trying to stay focused on MBA orientation as he grappled with heart-wrenching sadness over the Taliban takeover of Afghanistan.

Lughmani, a first-generation American of Pashtun origin, worked as an interpreter in Afghanistan from 2009 to 2011. He served as a liaison between the U.S. and Afghan governments, conducting interrogations and gathering intelligence on the Taliban and al-Qaeda. Three years later, he returned with the U.S. Army Infantry Rifle Platoon, leading multiple combat missions. 

He sought an MBA with a plan to return to Afghanistan and invest in entrepreneurs. Now, he is desperate to help.

In this edition of Haas Voices, Lughmani shares his grief, anger, and frustration as he watches what is happening.

Junaid Lughmani
Junaid Lughmani

More than a week after the Taliban’s takeover of Afghanistan, my mind continues to dwell in a state of shock. The hard-fought years spent alongside our Afghan partners to build a better future for the country catastrophically unraveled in a matter of days.

That sense of helplessness I felt as I watched is something I will never forget.

But I don’t waste time discussing the tragedy in terms of the failure of politicians. My heart is with the Afghan people. With my people. Words cannot convey how sorry I am for the Afghans who will once again have to endure the brutality and humiliation of the Taliban. I’m sorry for Afghanistan’s little ones, especially its daughters, whose promise of a bright future has been snatched from them. I am sorry for the 20 million Afghan women whose lives will become shuttered and oppressed, their voices now silenced. I am sorry for the brave teachers who risked death by creating opportunities for the nation’s youth, their dreams of living in a more prosperous society now indefinitely postponed. I am sorry for the courageous Afghan soldiers and police officers who fought to defend their country, but are now in hiding as the Taliban seeks vengeance.

To those who criticized the Afghan security forces within the past week from the safety of your living rooms, please reserve judgement. You have no idea (or maybe, sadly, you do) what Afghan service members endured over the past 20 years, in a climate of vast corruption and inconsistent policy. None of us know how we would fare under those circumstances.

Monday morning, the first day of MBA orientation, I woke up confused and angry over our government’s abandonment of Afghanistan. My mind raced: What was the point of entering the country in the first place? For what purpose did we liberate Afghans from the tyranny of the Taliban, just to have the terror group unleashed upon the citizens 20 years later? Were there any thoughts of the military families who endured deployment after deployment?  If not for them, then what about for the Afghan and American lives (and limbs) lost in war?

Monday morning, the first day of MBA orientation, I woke up confused and angry over our government’s abandonment of Afghanistan.

I sent a plea for help to the Haas veterans’ WhatsApp group chat. As a club, we needed to take a stand and express solidarity with the Afghan people. The responses multiplied within minutes, and by noon the Haas Veterans Club released a statement expressing firm support of the Afghan population. I shared the statement with a friend in Kabul and, upon reading it, she was overcome with emotion.

Like many Afghans, she feels abandoned and alone. In this grim moment of history, words matter, solidarity matters, and empathy matters. A simple statement from a student club at a Northern Californian school brought a breath of solace to someone trapped in hell on the other side of the world.

Once the statement was complete, I rushed to orientation. The only seat open was right smack in the middle of the first row of Andersen Auditorium. My mind was in a fog. My body was safe in the auditorium, but my head was with the chaos in Afghanistan. Under this terror regime, how many Afghans would lose the opportunity to start their own education journeys? How many would have to spend the next who-knows-how-many years of their lives fighting for their survival, instead of writing a thesis or forming study groups?

Junaid with boy wearing Yankees hat
Junaid Lughmani served in Afghanistan with the U.S. Army.

Eric Askins, the MBA Admissions Director, began his orientation remarks by saying, “Our thoughts are with the people of Afghanistan and Haiti.” Immediately, I broke. I could not control the tears streaming down my face. Spotlighted in the front row, I buried my chin in my chest, hoping no one would notice. Matthew McGoffin, my roommate and also a veteran, was sitting next to me. He could feel my leg shaking uncontrollably. He put his hand on mine, and thankfully, I was able to gather myself enough to keep my head down and out of sight.

The past week has been a nightmare. The Afghan diaspora and veterans are sad and angry. The veterans who deployed to Afghanistan are ashamed. No one is sleeping. We simply can’t. Every phone call is an opportunity to help someone in need, to save their life, or to save their family. We can’t afford to miss one call, one text, or one desperate cry for help. For the past 20 years, we were there with the Afghans. We fought with them, served with them, ate food with them, laughed with them. They opened their homes and their lives and their hearts to us. Now, in this dire time, we can do nothing to defend them.

For the past 20 years, we were there with the Afghans. We fought with them, served with them, ate food with them, laughed with them.

The guilt eats at our consciences. Politicians in both countries have first and foremost deeply betrayed the Afghan people. But the betrayal also extends to the veterans who proudly served in Afghanistan; those who sacrificed their blood and souls to this country.

Junaid in Afganistan
Junaid Lughmani, MBA 23, wants to return to Afghanistan to help entrepreneurs.

Soon, all foreign troops will leave Afghanistan. By the time pumpkin spice lattes hit the menu at Starbucks, news headlines will shift focus to the next world event. The public will forget about Afghanistan. The most maddingly frustrating part of this calamity is that we were so close to healing the country from the first Taliban reign. Afghan children attended school. Women played an active role in Afghan society. Billboards were adorned with images of pop stars and the country’s sports heroes. There was even a coding school for girls, “Afghan Girls Code,” and an entrepreneurial ecosystem developing. I had plans to return to Afghanistan after finishing my MBA program as an investor in the country’s up-and-coming entrepreneurs.

I fear now that all of this progress is stalled.

Instead, I hear the cries of my Afghan brethren through tinny cell phones and the cold distance of text messages. I rest here safe in monotone, while they burn in chaotic color. I just want to be in Afghanistan again, with my people. I know the horror that lies ahead for them, yet I also know firsthand the resilience of the Afghan people.

Insha’Allah (God willing), I will be with them again. Whatever it takes, I am determined to make that happen.

US News ranks all three Berkeley MBA Programs in top 10 

Student walking in front of Haas sign
Photo: Noah Berger

The Berkeley Haas Full-time MBA Program ranked #7 and the Evening & Weekend MBA Program ranked #2 among part-time programs again in the US News & World Report, released today. The Berkeley MBA for Executives ranked #8 among executive MBA Programs.

In the top 10 specialty rankings, Haas placed:

#8 in Business Analytics

#4 in Entrepreneurship

#8 in Executive MBA

#7 in Finance

#9 in International (tied with Saint Louis University–Chaifetz)

#4 in Nonprofit

#3 in Real Estate

The full-time MBA rankings are based on data provided by participating U.S. schools and on polls of business school deans and directors of accredited MBA programs, as well as surveys of corporate recruiters and company contacts. The score is calculated from placement success and starting salary (35%), student selectivity (25%), a peer poll (25%), and the average of the last three years of recruiter polls (15%).

Part-time MBA rankings are based on data from participating schools and on polls of business school deans and directors of accredited part-time programs. The score is calculated from  the peer polls (50%), student selectivity (27.5%), work experience (10%), and percent of MBA students who are enrolled part-time (12.5.).

The specialty and the executive MBA rankings are based entirely on polls of business school deans and directors of accredited MBA programs.

The EWMBA ranked #2 for the third year in a row. The Full-time MBA ranked #7 for 13 of the last 14 years. The Berkeley MBA for Executives ranked #7 for the last two years.

View the full report here. (log-in may be required).

Four new senior leaders join Berkeley Haas

Berkeley Haas has rounded out its leadership team, welcoming new hires in the areas of finance, alumni development, human resources, and sustainability.

The group of newly-appointed leaders includes:

Loretta Ezeife, Chief Financial Officer

Loretta Ezeife, chief financial officer
Loretta Ezeife, chief financial officer

Loretta Ezeife comes to Berkeley Haas with 20 years experience in financial planning and management in both the public and private sectors. Ezeife, who grew up in both Oakland and Nigeria, has worked for both private and public institutions, serving in management and financial leadership positions at Chevron, McKesson, Pacific Gas & Electric, and Kaiser Permanente.

In 2010, she transitioned to the public sphere, working for the Lawrence Berkeley National Laboratory, UC Berkeley’s Parking & Transportation Department, Recreational Sports, and Student Affairs divisions, and University Development and Alumni Relations (UDAR).

In her new role as CFO, Ezeife says she’s excited to collaborate with the Haas senior leadership team to develop sustainable financial strategies to emerge strong from the COVID-19 crisis.

Ezeife has a bachelor’s in accounting from California State University, Hayward, an MBA from Golden Gate University, and a doctorate in business administration from Walden University.

Howie Avery, Assistant Dean for Development & Alumni Relations

Howard Avery
Howard Avery, assistant dean for Development & Alumni Relations

Howie Avery arrives with more than 18 years of fundraising experience at several top-tier public universities. Most recently, he served as assistant vice president for advancement and campaign director at the University of Virginia, Darden School of Business. In his role, Avery was the senior leader for principal and major gifts, reunion giving, corporate and foundation relations. He also managed the school’s $400 million campaign.

Prior to joining Darden, Avery served in several leadership roles at the University of Tennessee, Knoxville, including managing the College of Law’s successful seven-year Campaign for Tennessee, and securing the funds for a building project at the Haslam College of Business. Avery began his development career at the Moody College of Communication at The University of Texas, Austin.

Michele de Nevers, Executive Director of Sustainability Programs

Michele de Nevers, who has had a long career in leadership positions for environment and climate change programs in developing countries, is taking on a newly established role as executive director of Sustainability Programs.

De Nevers’ work spans a wide range of environmental issues from biodiversity to industrial pollution to climate finance to carbon removal and storage.

Michelle de Nevers
Michele de Nevers, executive director of Sustainability Programs

De Nevers joins Haas from the Institut Barcelona d’Estudis Internacionals (Barcelona Institute for International Studies) where she was a visiting professor and taught a highly-rated course on International Climate Change Policy to graduate students from all over Europe and the world.

Prior to teaching at IBEI, de Nevers was a senior associate at the Center for Global Development (CGD) in Washington, DC, where she headed its climate change program and led a team working to establish the Tropical Forest Finance Facility, a multilateral wealth fund and pay-for-performance mechanism to finance reduced deforestation of tropical forests.  She continues to work with CGD as a non-resident fellow on climate issues.

Before joining CGD, de Nevers was a visiting fellow at the Global Economic Governance Programme at University College, Oxford, researching private investment for climate finance and economic development.

From 1981 to 2010 she worked for the World Bank, including as senior manager of the Environment Department and director at the World Bank Institute. She managed environment programs in the Latin America and Eastern Europe/Central Asia regions.  In the Environment Department, she managed preparation of the World Bank’s corporate Environment Strategy and led the global consultations on its Strategic Framework for Development and Climate Change.

From 1976  to 1978, she was a Peace Corps volunteer in the Philippines, where she worked in public health and family planning.

De Nevers holds an MS in Management with a concentration in finance from MIT, a BA in Bacteriology from the University of California, Berkeley, and a certificate in executive education from the Harvard Business School.

Michelle Marquez, Assistant Dean of Human Resources

Michelle Marquez, Assistant Dean of Human Resources
Michelle Marquez, assistant dean of Human Resources.

Marquez brings 13 years of experience working in operations, administration, and human resources to her role as assistant dean of Human Resources for Berkeley Haas.

Marquez, a Central Valley native, comes to haas from City College of San Francisco (CCSF), where she was senior director of human resources. Prior to CCSF, she served in leadership positions within the California community college system, as vice president of administrative services for the San Mateo County Community College District, and vice president of administrative services at Cañada College.

Marquez says one of her goals is to dive deeper into the Berkeley Haas culture using the Defining Leadership Principles as a guide. Another goal is to explore and review HR practices and procedures through a diversity, equity, and inclusion (DEI) lens.

Marquez holds an MBA from the University of Phoenix and is working on a doctorate with Grand Canyon University in industrial and organizational psychology.

A message from Black MBA students: “a time of grief for us”

In response to the violence against Black and African-American people and the wave of protests and unrest across the country, we’re sharing some of the perspectives of our Black students, staff, faculty, and alumni.

Malaysia Hammond, 19, places flowers at a memorial mural for George Floyd, who died after being restrained by Minneapolis police officers on Memorial Day. AP Photo: John Minchillo

Dear Haas Community,

This has been a time of grief for us, your black classmates, as we were reminded in multiple ways about the dangers of being a black person in this country.

The recent murders of George Floyd, Breonna Taylor, and Ahmaud Arbery reminded us that our lives are less valued in this country. When we are killed, it is often without consequence. Our deaths are only seen as tragedies if it is determined that we have lived blameless lives. Our claims of racism are only taken seriously when they’re recorded.

We watched as a liberal white woman attempted to weaponize the New York Police Department against Christian Cooper, a black man, by feigning assault after he asked her to leash her dog. This reminded us that the people who perpetuate racism—and the people who suffer from it—are not limited by educational achievement (both had degrees from prestigious institutions), by region, or by political affiliation.

Finally, we are seeing that COVID-19 is disproportionately affecting black communities: this is due to systemic disparities in healthcare access, historical discrimination resulting in adverse social determinants of health, and our outsized role in “essential” service industry jobs.

As black people, even being students in positions of privilege, we are deeply aware that we and our loved ones face a different set of risks than others. We also know that these incidents are not the only ones — they are just the ones that made headlines.

As black people, even being students in positions of privilege, we are deeply aware that we and our loved ones face a different set of risks than others.

We’re thankful for the acknowledgement, resources, and programming already provided by Dean Ann Harrison, our MBAA, the DEI Office, and the Program Office. We’re also thankful for the support that we’ve already received from our classmates and other members of our Haas community, through in-person messages, and on Slack.

If you are wondering how you can help, please consider the following:

  • Ask us how we’re doing. We may not want to talk much, but we will appreciate your concern for us. Please do not try to engage us in political or intellectual discussions at this
  • Read and listen to black perspectives on recent events — especially if you don’t like to talk about race in America. Understanding is an important step to empathy, and black perspectives on the meaning of this moment are easily accessible on the news and social media. For even more context on race in America, the Race Inclusion Initiative’s Resource Library has a ton of information.
  • Share with your friends and family what you learn. If you are angry, tell your non-black family and friends. Plan and organize how you’ll practice being an ally to the black people you know
  • Donate to an organization that contributes to racial equity. A few examples are below, but there are more.
  • The Official George Floyd Memorial Fund
  • Please see this article with suggestions on where to donate money to organizations that support the protesters’ cause. (This is not an official endorsement of these organizations).

Thank you,

Black Students at Haas

Year in review: Top Berkeley Haas stories of 2019

It was a big year at Berkeley Haas. We welcomed the school’s first new dean in more than a decade, continued our run in the top 10 in all rankings, and launched several new boundary-spanning programs. Our faculty broke new ground and were honored with numerous awards, and we also mourned the loss of several luminaries. The school was also recognized for its stellar sustainability efforts at our new building.

Going into the 2020, our culture—truly at the heart of Haas—will continue to take center stage. Here are a dozen of our highlights from 2019.

1. New year, new dean

Dean Ann Harrison
Dean Ann Harrison | Copyright Noah Berger 2018

On January 1, former Wharton economics professor Ann Harrison “came home” to Berkeley to serve as the 15th dean of Haas. Harrison was a double major in history and economics at UC Berkeley before going on to earn a PhD in economics from Princeton. She also served as a professor of UC Berkeley’s Department of Agricultural and Resource Economics from 2001 to 2011, and was the former director of development policy at the World Bank.

2. Fresh insights and groundbreaking research

Illustration of a satellite orbiting the earth

From the first-ever analysis of how hedge funds use satellite images to beat Wall Street, to a finding that information acts on the brain’s dopamine receptors in the same way as snacks, drugs, and money, to new insights from social network experts on how the opioid use spreads in families, Haas faculty questioned the status quo with their creative and groundbreaking research. They also made an impact: Ginnie Mae adopted a proposal based on Haas professors’ research for better risk management of non-bank lenders, and U.S. senators Elizabeth Warren and Doug Jones launched an investigation into evidence uncovered by three faculty that that online lending algorithms have created widespread lending discrimination.

3. Shedding light on PG&E blackouts

Professors Catherine Wolfram and Severin Borenstein

Haas experts were in high demand to make sense of this fall’s unprecedented power shutoffs. Energy economists Severin Borenstein and Catherine Wolfram of the Energy Institute at Haas fielded a stream of questions from journalists after Pacific Gas & Electric determined it could not guarantee the safety of its lines and shut down power to hundreds of thousands of people, including the entire UC Berkeley campus.

4. Mourning the loss of faculty luminaries

Prof. Mark Rubinstein in his home library / Photo by Jim Block
Prof. Mark Rubinstein in his home library | Photo by Jim Block

Mark Rubinstein (above), a finance professor emeritus whose work had a profound impact on Wall Street by forever changing how financial assets are created and priced, died at 74. Raymond Miles, a former Berkeley Haas dean and professor emeritus whose leadership had a deep and lasting impact on the Haas campus and community, passed away at 86. Leo Helzel, MBA 68, LLM 70, an honored faculty member who guided the school’s first forays into entrepreneurship and was a dedicated and generous supporter of Haas for decades, died at 101. Rob Chandra, BS 88, a professional faculty member since 2013, taught courses on entrepreneurship and venture capital to both undergraduate and MBA students. He passed away in October at age 53.

5. STEM designation for MBA programs

Photo of students in Chou Hall at Haas

Berkeley Haas is among the first business schools to receive a STEM (Science, Technology, Engineering, and Math) designation for its MBA programs. The designation makes all international graduates eligible to apply for an additional 24-month visa extension during post-MBA employment. All current international students studying on F-1 visas will be eligible to apply for the extension while they are in their first year of work authorization after graduating from the MBA program. “We anticipate that this will lead to expanded opportunities for our international graduates who pursue jobs incorporating business analytics, modeling, forecasting, and other skills developed through our program,” said Peter Johnson, assistant dean of the FTMBA program and admissions.

6. Record rankings

Students at work during week zero
Photo by Jim Block

All Haas programs continued their run in the top 10 in all major rankings, with the full-time MBA program moving up to #6 in the U.S. in the U.S. News & World Report ranking—its highest ever. The FTMBA program was also ranked #6 in the U.S. by The Economist (#7 worldwide) and #8 in the U.S. by Bloomberg BusinessweekU.S. News ranked the Berkeley Haas Evening & Weekend MBA Program #2, the Undergraduate Program #3, and the Berkeley MBA for Executives Program #7.  The Master of Financial Engineering Program was ranked #1 by The Financial Engineer, and #2 by QuantNet.

7. Chou Hall’s green trifecta

Photo of the front of Chou Hall

Our newest building officially became the greenest academic space in the U.S., receiving a WELL Certification recognizing its “strong commitment to supporting human health, well-being, and comfort;” a TRUE Zero Waste Certification at the highest possible level for diverting at least 90% of its waste from landfills; and LEED Platinum Certification for its architectural design, construction, and energy efficiency.

8. Welcoming David Porter, our first Chief DEI officer

Berkley Haas Chief DEI Officer David Porter

“My first priority is making sure that the students, particularly students of color, have the best experience possible,” said Porter, who previously served as CEO of media nonprofit Walter Kaitz Foundation, director of graduate programs at the Howard University School of Business, and as an assistant professor and faculty director at UCLA’s Anderson School.

9. Unveiling a new sustainable and impact finance program (SAIF)

MBA students who managed the Haas Sustainably Investment Fund
MBA students who have managed the Sustainable Investment Fund at Haas. Photo: Jim Block

The Sustainable and Impact Finance program aims to better position students to work in sustainable and impact finance as public fund managers or private equity investors, or in the startup world. It’s focused on three sectors: sustainable investment, impact investment, and impact entrepreneurship. Assoc. Prof. Adair Morse developed the new program with Prof. Laura Tyson, faculty director for the Institute for Business and Social Impact (IBSI).

10. Building campus connections with cross-disciplinary programs

Haas joined forces with the College of Engineering to launch the concurrent MBA/MEng dual degree program. The new program, enrolling for fall 2020, allows students with undergraduate technical training to earn both a Master of Business Administration and a Master of Engineering degree in just two years. The new undergrad Biology+Business dual major is designed to prepare students for careers in healthcare, biotech, and drug discovery research. It’s a joint venture between the Department of Molecular & Cell Biology and Haas.

11. A host of honors for faculty

Top row: Chesbrough, Mowery, Wallace. Middle: Dal Bó, Schroeder, Morse. Bottom: Konchitchki, Patatoukas, Finan.

Assoc. Prof. Yaniv Konchitchki and Assoc. Prof. Panos Patatoukas received the 2019 Notable Contributions to Accounting Literature Award from the American Accounting Association. Prof. Emeritus David Mowery received the 2019 Irwin Outstanding Educator Award from the Academy of Management’s Strategic Management Division. Adj. Prof. Henry Chesbrough received the Leadership in Technology Management Award from the Portland International Center for Management of Engineering and Technology (PICMET). Prof. Nancy Wallace was honored by campus with a prestigious faculty service award. Miguel Villas-Boas was awarded the 2019 INFORMS Society for Marketing Science Fellow Award, which is the organization’s highest award recognizing cumulative scholarship and long-term contributions to the marketing field. Prof. Ernesto Dal Bó and Prof. Frederico Finan received the 2019 Williamson Award at the 2019 Society for Institutional and Organizational Economics (SIOE) conference. Assoc. Prof. Juliana Schroeder was recognized as a “Best 40 Under 40” professor by Poets & Quants. Cheit Awards for Excellence in Teaching went to professors Adair Morse, Ross Levine, Yaniv Konchitchki, and Hoai-Luu Nguyen, along with lecturers Janet Brady, Eric Reiner, and Veselina Dinova.

12. Going deeper on culture

We continued to embed our Defining Leadership Principles (DLPs)—Question the Status Quo, Confidence Without Attitude, Students Always, and Beyond Yourself—throughout the school. In January, the Berkeley Haas Cultural Initiative launched with a  pioneering conference where executives from Facebook, Netflix, Zappos, Pixar Animation Studios, Deloitte, and other “culture aware” companies mingled with top academics from around the world. Separately, Haas supporters donated over $200,000 to distribute as grants for efforts aimed at keeping our DLPs strong. After reviewing 29 proposals from students, faculty, and staff, grant reviewers funded six projects and initiatives.

Berkeley Haas receives STEM designation for MBAs

Berkeley Haas is among the first business schools to receive STEM (Science, Technology, Engineering, and Math) designation for MBAs. The designation makes all international students who graduate eligible to apply for an additional 24-month visa extension during post-MBA employment.

Haas’ STEM OPT extension is retroactive to December 2018.

All current international full-time MBA students studying on F-1 visas will be eligible to apply for the extension while they are in their first year of work authorization after graduating from the MBA program, said Peter Johnson, assistant dean of the full-time MBA program and admissions. Approval of the extensions will depend on the individual training plans that employers and MBA graduates submit, Johnson said.

“We anticipate that this will lead to expanded opportunities for our international graduates who pursue jobs incorporating business analytics, modeling, forecasting, and other skills developed through our program,” he said.

The MBA programs received the STEM designation after a campus review of how the programs are categorized by the National Center for Education Statistics under a Classification of Instructional Programs (CIP) code.

The new code defines the Berkeley Haas MBA as “a general program that focuses on the application of statistical modeling, data warehousing, data mining, programming, forecasting and operations research techniques to the analysis of problems of business organization and performance.” After the review, the Haas MBA degree programs were changed from “Business Administration and Management, General,” to “Management Science,” which is considered a STEM program.

The BIO STEM OPT webpage outlines the extension rules and application process for F-1 students, including information about the responsibilities of employers in the process.

Learn more about the Berkeley Haas MBA programs:

Full-time MBA Program
Evening & Weekend MBA Program
Executive MBA Program

 

 

Full-time MBA program remains #8 in Poets & Quants ranking

The Berkeley Haas Full-Time MBA placed at #8 again in Poets & Quants’ 2019 ranking, published on Nov. 15.

 

The meta ranking is based on the results of five other rankings published in US News, Forbes, the Financial Times, Bloomberg Businessweek, and the Economist. U.S. News is given a weight of 35%, Forbes, 25%, while both The Financial Times and Bloomberg Businessweek are given a 15% weight, and The Economist, 10%.

View the full report and methodology.

FTMBA ranked #7 in the world by The Economist

The Economist magazine ranked the Berkeley Haas Full-time MBA program #7 in the world—up four points over last year—and #6 among US schools in its “Which MBA?” ranking published today.

Haas students and alumni once again ranked the school #1 for culture and classmates.

Haas’ four-point jump in the overall ranking was primarily due to a significantly improved ranking in career opportunities. Specifically, Haas rose in the diversity of industries recruiting the school’s graduates and in its student and alumni rating of Haas career development services.

Haas students and recent alumni also rated its alumni network as more effective than they have in past years. Its alumni network again ranked as the most international.

This ranking is based on data provided by participating schools and a survey of students and recent alumni (MBA classes 2018, 2019, and 2020), conducted in spring 2019. The Economist evaluates schools in four categories: career opportunities, personal development/educational experience, salaries, and potential to network.

In last year’s Economist ranking, the FTMBA program was #11 in the world and #10 among US peers, after previously ranking #7 in the world in 2016 and in 2017.

See full report.

Haas ranks #8 in Bloomberg Businessweek

The Berkeley Full-time MBA Program ranked #8 in Bloomberg Businessweek’s annual MBA ranking published Nov. 4.

Schools were evaluated in four aspects of the MBA experience that were weighted based on this year’s employer and alumni input: compensation (37.30%), networking (25.70%), learning (21.30%), and entrepreneurship (15.70%). Haas ranked #10 in compensation, #13 in networking, #18 in learning, and #4 in entrepreneurship.

The ranking is based on feedback from MBA employers, recent full-time MBA graduates, and alumni who graduated in 2011, 2012, and 2013. Participating schools also provided salary data of the 2018 graduating class, which factored into the compensation aspect.

Last year, Haas ranked #6 in this ranking. In comparison, it also ranks #6 in this year’s US News & World Report ranking.

Haas launches Biology+Business dual-major program

Photo of Chou Hall with cyclists passing
The new Biology+Business dual-major program aims to provide interdisciplinary solutions to 21st-century challenges.

The new Biology+Business dual-major has launched, a program designed to prepare students for careers in healthcare, in addition to biotech and drug discovery research.

The program, a joint venture between the Department of Molecular Cell Biology and Haas, will enroll about 25 students a year, providing undergraduates with an integrated curriculum, mentoring, and internships to develop innovative leadership skills in bio business. It is the second program of its kind in the country.

Former Haas Dean Rich Lyons and Michael Botchan, dean of Biological Sciences, came up with the idea for the program. The first class of Biology+Business students will enroll in fall of 2020. The window for students to apply is Nov.1-29, 2019.

In the program, students will earn a bachelor of science degree in business administration and a bachelor of arts degree in molecular and cell biology in the emphasis of their choice: biochemistry & molecular biology; cell & developmental biology; genetics, genomics, & development; immunology & pathogenesis; or neurobiology.

Admission to the Biology+Business Program is open only to students who enter UC Berkeley as freshmen. Students must complete all prerequisite requirements for Haas, alongside the requirements for molecular cellular biology. Students apply to the Biology+Business Program during their sophomore year.

There are no curriculum changes to either degree program, although there is specialized coursework offered along the way, said Sarah Maslov, program manager of the Biology+Business Program. Internships are a key part of the program.

“The program’s real value-add is the professional development opportunities it offers,” Maslov said.

Gail Maderis, BS 78, and Ann Stock Zakaria, BA 79 (biochemistry), PhD 86 (comparative biochemistry), are among the founding program donors.

“This program will provide Cal students with the fundamental knowledge to change patients’ lives,” said Maderis, president and CEO of San Francisco-based Antiva Biosciences, a venture-backed biopharmaceutical company. “Having a baseline of understanding of business and science creates a much more well-rounded employee who can move fluidly between the disciplines.”

Zakaria said the program is crucial for preparing students to enter professional life. “While the academic labs are a very rich environment for innovation and the generation of ideas, it’s hard to bring those things to a marketable point—or even to a point where large pharma would be interested in them—without biotechnology and venture enterprise coming in,” she said.

U.S. News ranks Haas undergrad program #3

US News & World Report ranked the Haas Undergraduate Program #3 in this year’s college ranking.

The ranking, part of the U.S. News Best Colleges report, is based solely on a peer poll of business school deans, faculty, and undergraduate directors who are asked to rate business programs on a scale of 1 (marginal) to 5 (distinguished). Two years of poll data are used to calculate the score.

In top specialty rankings, Haas ranked as follows:

#3 in management

#3 in real estate

#4 in marketing

#5 in entrepreneurship

#5 in international business

#5 in finance

#8 in production/operation management

California Management Review examines how AI will change business

California Management Review AI issuA special summer issue of California Management Review takes an in-depth look at how artificial intelligence is changing business.

Eight articles cover topics such as AI in human resources management, the role of AI in personalized marketing, organizational decision-making in the age of AI, and how AI will launch the “feeling economy,” where interpersonal skills are more valuable than ever.

“Artificial intelligence is a rather fuzzy concept and is actually not that easy to define,” says Andreas Kaplan, a marketing professor at France’s ESCP Business School, who guest-edited the issue with ECSP marketing Prof. Michael Haenlein. “We define artificial intelligence as a system’s ability to interpret external data correctly, to learn from such data, and to use these learnings to achieve specific goals and tasks through flexible adaptation.”

Watch a video introduction:

“Managers of the future will need to consider AI and the associated systems of automation as a central part of their future workforce,” Haenlein says in the introduction. “An average employee performs dozens if not hundreds of different tasks in a day, and only some can be taken over by a machine. Instead of talking about job replacement, we should be talking about job enhancement, because AI systems can help employees do their jobs more efficiently.”

Browse the articles here.

California Management Review is Berkeley Haas’ premier management journal. Edited at the University of California for more than 60 years, the journal publishes cutting-edge research useful to management education, and presents new insights into the practice of management.

Real estate veteran Constance Moore to be honored at annual Haas Gala

Constance Moore

Constance Moore, MBA 80, a distinguished real estate veteran and volunteer board member for numerous organizations, will be honored with a Lifetime Achievement Award at the 18th annual Haas Gala on November 1.

The award recognizes members of the Berkeley Haas community who embody Haas’ Defining Leadership Principles and who have made a significant impact in their field and through their professional accomplishments. Moore is the eighth person to be given a Lifetime Achievement Award from Haas, and its second female recipient.

Moore is the former president and CEO of BRE Properties, a real estate investment trust that develops and manages apartments in highly desirable locales in the West. She’s been named to the Northern California Real Estate Women of Influence Hall of Fame and been noted multiple times as one of the Most Influential Women in Bay Area Business by the San Francisco Business Times.

Her volunteer leadership includes serving on the Haas Board and as chair of the Policy Advisory Board for Haas’ Fisher Center for Real Estate and Urban Economics. She has also taught generations of students as a guest speaker in numerous Haas classes. She serves on boards for many organizations, including the San Jose State University Tower Foundation, BRIDGE Housing Corporation, and the Urban Land Institute, among others.

Other alumni honored

Two other alumni will also receive awards at the Gala.

Paul Rice
Tony Chan
Tony Chan

Paul Rice, MBA 96, the CEO and founder of Fair Trade USA, will receive Berkeley Haas’ eleventh annual Leading Through Innovation Award for his pioneering work making the Fair Trade movement part of the mainstream consumer and retailer experience. Rice found the common ground among underprivileged farmers and workers, discerning consumers, and retail brands that helps alleviate poverty and allows everyone along a supply chain to create positive social and environmental change.

His company has provided 1.6 million families in scores of countries worldwide with sustainable livelihoods, protected ecosystems, and offered millions access to healthcare and education. As a Haas Executive Fellow, Rice has inspired countless students to become social entrepreneurs and find solutions to society’s most pressing problems.

Anthony “Tony” Chan, BS 74, the owner and managing member of Worldco Holding, LLC, will receive the Raymond E. Miles Alumni Service Award in honor of his longtime volunteerism and leadership at UC Berkeley and the Haas School of Business. Chan served for 12 years on the University of California, Berkeley Foundation Board of Trustees and has served for many years on the Haas Board. He has provided leadership to Haas in a variety of areas, most recently in the board’s campaign to support the Dean Lyons Faculty Research Fund, which resulted in 100% participation.

Former Dean Rich Lyons named new campus innovation officer

Dean Rich Lyons

Former Berkeley Haas Dean Rich Lyons has been named as UC Berkeley’s first-ever Chief Innovation and Entrepreneurship Officer (CIEO).

In this new role, Lyons will work with campus partners to further develop and communicate Berkeley’s rich portfolio of innovation and entrepreneurship activities to benefit students, faculty, staff, and startups. He will also be responsible for developing strategies to raise the visibility of these activities internally and externally and to create high-value partnerships with stakeholders.

“If together we can improve the transformation of Berkeley’s prodigious intellectual product, across the whole campus, into greater societal benefit, then we will have achieved a great deal,” Lyons said in an interview.

Lyons wrapped up his 11 years as Berkeley Haas dean in June 2018, and after a sabbatical year will return to teaching on the finance faculty this fall while transitioning into his new campus role on a part-time basis. He will officially assume the new role in January, 2020.

Read the full announcement from Vice Chancellor for Research Randy Katz on Berkeley News.

Big jump in influence for California Management Review

Berkeley Haas’s academic management journal, California Management Review, has earned a big jump in its impact factor—a measure of how frequently its articles are cited by scholars and a gauge of academic influence among top journals.

CMR LogoThe journal’s single-year impact factor is 5.0, and its five-year impact factor is 5.33 in this year’s Thomson Reuters’ Journal Citation Report, a ranking of global research publications.  This marks the fourth consecutive year the journal improved its ranking and position among the top business journals. (Last year the journal’s impact factor was 3.3).

A journal’s impact factor is derived from how frequently its articles are cited by scholars in their own research. Citation information is collected and analyzed each year in

“We are very pleased by this increasing recognition of CMR’s editorial mission to publish research that both engages scholars and offers new insights into the practice of management,” said Editor-in-Chief David Vogel, a  Berkeley Haas professor emeritus.

One of the most frequently cited recent articles in California Management Review was written by Berkeley Haas Prof. David Teece. “Dynamic Capabilities and Organizational Agility: Risk, Uncertainty, and Strategy in the Innovation Economy” focuses on the concept of agility within established businesses. While organizations are often compelled to transform to remain competitive, Teece asserts that perpetual transformation is not always the best option, and proceeds to draw an important distinction between uncertainty and risk. The article, which has been cited more than 3,000 times, emphasizes the need to respond to the uncertainty of innovation through the development of dynamic capabilities.

More information about California Management Review’s impact factor and international rankings is available here, along with links to new research and information about publishing in the journal.

California Management Review features Berkeley Haas research on Gen Z, affirmative action

The spring issue of California Management Review features two new articles by Berkeley Haas faculty.

Senior Lecturer Holly Schroth was motivated by her recent experiences in the classroom to research and write “Are you ready for Gen Z in the workplace?”. As a long-time lecturer at Berkeley Haas, Schroth admits that she wasn’t connecting quite as much with this generation as she had with previous students. “It made me wonder about this group and what they respond to,” she said.

Members of Generation Z, defined as those born between the years of 1997 and 2013, are just beginning to enter the labor market. Like millennials, they are very tech savvy and have spent most of their childhood surrounded by screens, limiting the time they spend in face-to-face interactions. Gen Z also lacks work experience–only 34% of teens had a job in 2015 compared to 60% in 1979. Employers have already observed that recent hires are having trouble adjusting to the social aspects of work in the corporate world.  “Social interaction in the workplace is a language,” Schroth noted. “Thankfully, it can be taught.”

Ultimately, Schroth advises managers to help Gen Z employees foster a sense of autonomy by providing training and then allowing them to take ownership of projects.


Also included in the issue is “Affirmative Action and its Persistent Effects: A New Perspective,” by Berkeley Haas Asst. Prof. Conrad Miller.

Miller, a labor economist in the Haas Economic Analysis & Policy Group, examines how companies responded to temporary federal affirmative action regulation. While under regulation, affirmative action increased a company’s black share of employees. But Miller discovered that the black share of employees continued to grow at a similar pace even after a firm is deregulated. This signals that companies made fundamental shifts in their hiring practices, driven in part by affirmative action rules that induced them to improve their methods for screening potential hires.

This piece builds upon Miller’s recent paper, “The Persistent Effect of Temporary Affirmative Action,” published in American Economics Journal: Applied Economics. Federal affirmative action policies, though controversial, have been demonstrated to substantially improve diversity and representation in schools and the workplace. This research provides further evidence. “If a firm is doing something without a regulation in place, presumably their behavior is consistent with their goals,” Miller said.


Published quarterly by Berkeley Haas, California Management Review is a top-ranked management journal that serves as a bridge of communication between those who study management and those who practice it.

Read the spring edition of California Management Review.

Profs. Konchitchki and Patatoukas receive prestigious accounting literature award

Associate professors Yaniv Konchitchki and Panos Patatoukas have won the 2019 Notable Contributions to Accounting Literature Award from the the American Accounting Association.

The award was granted for two co-written papers: “Accounting Earnings and Gross Domestic Product,” featured in the Journal of Accounting and Economics, and “Taking the Pulse of the Real Economy Using Financial Statement Analysis: Implications for Macro Forecasting and Stock Valuation,” featured in The Accounting Review. Both were published in 2014.

The AAA award is given annually to work published within five years that has been evaluated for its uniqueness and potential magnitude of contribution to accounting education, practice and/or future accounting research; breadth of potential interest; originality and innovation, clarity and organization of exposition; and soundness and appropriateness of methodology.

The award, which is sponsored by the American Institute of Certified Public Accountants (AICPA), will be presented at the AAA Annual Meeting in San Francisco on August 14.

Yaniv Konchitchki
Assoc. Prof. Yaniv Konchitchki

Konchitchki is a tenured associate professor Haas Accounting Group. His expertise is in the interdisciplinary links between financial reporting and analysis, capital markets, and macroeconomics. His work focuses on the modeling and resolution of real-world problems aimed at enhancing decision making, dealing with topics such as inflation, economic fluctuations/growth, monetary policy, real estate, inequality, and national accounting. He is a founder of the new research field of Macro-Accounting. Konchitchki has been recognized for his research and teaching as a Bakar Faculty Fellow, a Hellman Fellow, and a Schwabacher Fellow for distinguished research excellence; two Cheit Awards for Distinguished Teaching Excellence; Poets & Quants’ “World’s Top 40 Under 40”; and the American Accounting Association’s Financial Accounting and Reporting Section Best Paper Award.

Panos Patatoukas
Assoc. Prof. Panos Patatoukas

Patatoukas is also a tenured associate professor in the Haas Accounting Group, and the L.H. Penney Chair in Accounting. His work focuses on interdisciplinary capital markets research and informs “micro-to-macro” and “macro-to-micro” questions bridging the gap between academics and practitioners. He was honored with the 2018 Distinguished Teaching Award, which is the highest teaching award bestowed by the University of California, Berkeley; the 2017 AAA/AICPA Notable Contributions to Accounting Literature Award; and the 2011 American Accounting Association Competitive Manuscript Award. He was also selected as a “Top-10 Business School Professor Under 40” by Fortune. He is the founding faculty director of the Berkeley executive education program on Financial Data Analysis.

More information about the AAA award can be found here.

Prof. Laura Tyson to study AI disruption as Berlin Prize Fellow

Laura Tyson (Photo by Karl Nielsen)

Prof. Laura Tyson will study how U.S. businesses and policy makers can better respond to the coming labor market disruptions caused by artificial intelligence and automation—and what we can learn from the German system—as a Berlin Prize Fellow this fall.

Tyson, a distinguished professor of the graduate school, former dean of the Haas School, and faculty director of the Institute for Business and Social Impact (IBSI), will spend the fall semester at the American Academy in Berlin. She is one of 20 scholars, writers, and artists to be awarded the prestigious semester-long Berlin Prize for the 2019-20 academic year.

As a Berlin Fellow, Tyson will continue her research on how AI and automation are affecting the future of work. Like other technological advances, AI and automation will fuel displacement of labor and change the nature of work, but they will also contribute to gains in productivity, income growth, and the demand for skilled human labor, she says. This transition will be costly, however, and is likely to fuel growing income inequality. New policies, training, and innovation will be needed to address these challenges, she says.

Tyson see Germany as particularly well-positioned to handle the economic trials ahead, and plans to investigate the German system of training and apprenticeships, various sectors of German industry, and unique features of German business governance such as works councils, employers’ associations, and supervisory boards. The German case shows that the future is not technologically predetermined and can be shaped by thoughtful policies and actions by business leaders, policymakers, workers and citizens, she says.

“Ultimately, these effects depend not on the design of smart machines and technologies, but on the design of smart practices and policies appropriate for a new machine age,” Tyson said in a press release.

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