The FTMBA program moved up four slots to tie for #7 with the Yale School of Management and NYU’s Stern School of Business. Except for 2021 and 2023, the FTMBA has ranked #7 since 2019.
Meanwhile, the Evening & Weekend Berkeley MBA Program ranked #2 this year among part-time MBA programs. The Berkeley Haas MBA for Executives Program placed #7 among EMBA programs and is now the top executive MBA program at a public university in the nation. This ranking is based solely on ratings by business school deans and directors.
The 2024 FTMBA ranking, released today, reflects positive changes that U.S. News made to its rankings methodology, said Haas Dean Ann Harrison.
The ranking reflects all of the work Haas is doing to strengthen its programs and reputation, she said. “There are many different ways of evaluating a school, and rankings go up and down for all of us,” she said. “The change in the U.S. News methodology, with less emphasis on starting salary upon graduation, is a positive step.”
A few details on the rankings methodology used this year:
Employment rates at graduation – 7% weighted (previously 10%)
Employment rates three months after graduation – 13% (previously 20%)
Mean starting salary and bonus – 20%
Ranking salaries by profession – 10%
Peer assessment score – 12.5%
Haas ranked #5 in salaries, which were ranked this year by profession (tied with Chicago Booth). Harrison noted that alumni accept jobs in a variety of industries, which logically means a variety of pay scales.
“This is true for Haas, as well, where graduates prioritize where they can make the biggest impact, whether that is in consulting, product management, fintech, or by founding a new company,” she said. “I applaud U.S. News for taking into account the reality of the wealth of opportunities for a b-school graduate and comparing apples to apples across all the schools it surveys.”
Assessment by the school’s FTMBA peers was strong this year, at #7 (tied with Columbia) and the school ranked #9 for its recruiter assessment. Haas also had the highest GMAT score, tied at #1 with Stanford, Harvard, Wharton, Kellogg, and Columbia.
In specialty rankings, based solely on peer assessments, U.S. News ranked the full-time MBA program:
“Classified” is an occasional series spotlighting some of the more powerful lessons being taught in classrooms around Haas.
It’s a recent Tuesday evening at Berkeley Haas, and Marissa Maliwanag, MBA 24, has just five minutes to pitch her team’s idea for Tables Together. It’s an online marketplace that big corporations like Google could use to donate surplus food from their employee kitchens to organizations that feed people in need.
“There are matches that need to be made and we want to create a marketplace and solve the problem,” Maliwanag said, ticking off the amount of food that goes to waste in the United States each year.
After a few quick questions for the team, the rapid-fire pitch slam—part of the MBA class called Online Marketplace and Platform Design—continues. Students pitch ideas, among them a private plane rental marketplace to a community for matching skiers and snowboarders with coaches to a marketplace for tailors of bespoke clothing for events like weddings.
All of the pitches serve as practice for the students who are working toward final projects, says Assistant Professor David Holtz, who teaches the class, an elective that enrolls 68 students. The group is a split of mostly full-time and evening & weekend MBA students, on a journey that covers all aspects of online platforms—from A/B testing, network effects, and platform monetization, to reputation systems and discrimination in online marketplaces.
The class aligns with Holtz’s career experience as a former Silicon Valley data scientist. Most recently, Holtz worked for Airbnb, where he first became intrigued by online marketplaces. “I was exposed to a lot of interesting problems including reputation-system design, algorithmic pricing, and experiment design,” Holtz, a member of the Management of Organizations (MORS) and Entrepreneurship & Innovation Group at Haas, says. “To this day, these topics form the backbone of my research, because, in addition to being extremely interesting, they’re also extremely difficult to solve.”
Taking apart the case
During the first half of a recent class session, Holtz asked students to split into groups to discuss one of the week’s assignments: Pick a company on the a16z Marketplace 100 list—Andreessen Horowitz’s ranking of the largest and fastest-growing consumer-facing marketplace startups and private companies—and come up with a new market mechanism that the company might trial using A/B testing.
One MBA student team wrote about the online specialty food marketplace Goldbelly, suggesting that the company might add a feature that prompts site visitors to indicate that they’re trying to buy a gift. Then, Goldbelly could customize searches and provide a more personal message option at checkout.
Holtz then runs students through a business case called “Innovation at Uber: The Launch of Express POOL, a case directly related to some of his marketplace research that examines experiment design in two-sided markets. Set in March 2018, the case follows Uber through the launch of a new product called Express POOL, which offers carpooling riders a cheaper ride if they agree to walk a short distance to and from pick-up and drop-off points and wait a few minutes before being matched to a driver.
In this case, Uber had to decide whether to keep rider wait times at two minutes or change the Express POOL wait time to five minutes mid-experiment. The big dilemma? Uber benefited from a cost-per-ride reduction with a five-minute wait time but didn’t want to make a change that could hurt the user experience. “Even if the company did decide that a longer wait time was preferable, what did that mean for the ongoing experiment the company was running?” Holtz says. “Should they change the product mid-experiment or let the experiment continue running as originally intended?”
In this case, Uber had to decide whether to keep rider wait times at two minutes or change the Express POOL wait time to five minutes mid-experiment.
Holtz then shifts to a whiteboard, where he outlines different types of experiments (also called A/B tests) that marketplace companies like Uber use to test new features.
First is the “bread and butter” user-level test, which Uber could have used to compare the behavior of riders with access to Express POOL to the behavior of those who did not have access to Express POOL. The second kind of test, a switchback experiment, would give all riders and drivers in a given market access to Express POOL for randomly selected 160-minute-long chunks. Over two weeks, Uber would switch Express POOL availability back and forth to compare behaviors.
The third type of experiment Holtz describes, which Uber did use with Express POOL, is a synthetic control experiment. It is the most accurate form of testing, Holtz says, but also the most complicated to run and the “noisiest.” Using the synthetic control experiment, Uber identified two sets of markets that, in aggregate, were as similar to each other as possible. The company then launched Express POOL in one set of cities, but not in the other. By comparing behavior in the two sets of cities, Uber could estimate the impact of both.
Holtz’s knowledge of how to apply A/B tests comes from deep research. He has conducted multiple large-scale experiments analyzing the effects of marketplace design choices on Airbnb. One studyexamined whether coupons would lead more Airbnb bookers to write more reviews—with the eventual aim of facilitating better matches on the platform and increasing revenue. Comparing behaviors of buyers who received coupons to those who didn’t, he found that the coupons led to additional reviews that were more negative, on average, and that the reviews didn’t affect the number of nights sold on the site or total revenue.
In a separate, widely cited study, he and his co-authors examined the effects of remote work on collaboration among information workers at Microsoft. They scoured anonymized, aggregated data describing emails, calendars, instant messages, video/audio calls, and workweek hours of more than 60,000 U.S.-based Microsoft employees during the COVID-19 pandemic, trying to estimate the causal effects of firm-wide remote work on collaboration and communication. Results showed that under firm-wide remote work, collaboration patterns become more static and siloed, with fewer bridges between disparate parts of an organization.
Impressive guest speakers
For Lena Corredor, MBA 25, knowledge gained in Holtz’s class is providing an opportunity to explore the challenges of building a successful entrepreneurship marketplace, which is her startup idea.
“This class is really eye-opening for me because it’s not as straightforward as it seems,” she says. “When you think about the different sides of a marketplace, one would think if you build it, they will come, but it’s not the case. The design elements he talks about are very important to business success.”
During most classes, Holtz opens with a guest speaker, and his roster includes an impressive industry bench of leaders including Sudeep Das, head of Machine Learning/AI at DoorDash; Martin Manley, co-founder of Alibris and former U.S. assistant secretary of labor; Ania Smith, CEO of Taskrabbit; and Briana Vecchione, a technical researcher at Data & Society’s Algorithmic Impacts Methods Lab (AIMLab); among others.
Roberto Pérez, MBA/MEng 24, an entrepreneur in Mexico before coming to Haas, said they were drawn to the class for two reasons. “First, I knew that the professor had a great background and first-hand experience on this topic,” they say. “Second, I knew that the class would have a lot of guest speakers and that was interesting to me as this level of exposure is very valuable.”
Looking toward the future of online marketplaces, Holtz said he’s excited to see where entrepreneurs will take new technologies, such as generative AI, AR/VR, and blockchain-based tech. To that end, he said he expects the students will hear more from a group of investors and VCs who are guest judges at the last class—Raphael Lee, Vickie Peng, and Lindsay Pettingill.
“They weigh business pitches all the time and will have a better sense than anyone of where we are headed,” he said.
When Lizzie Hoerauf, MBA 24, joined Berkeley Haas, she had a vision of what she wanted to do post-graduation.
“My goal was to bring the finance and operations business acumen I gained from an MBA program back to organizations with missions I care deeply about,” said Hoerauf, who has a background in nonprofit management, including working for Yosemite National Park.
At Haas, Hoerauf found her calling in the Impact CFO program, an innovative initiative designed to create a new generation of CFOs equipped to lead foundations, nonprofits, and other social enterprises.
She’s not alone in this journey; Hoerauf is part of the inaugural cohort of 14 MBA students united by a goal to develop strong finance and analytical skills while having an impact on society.
(Hear about Impact CFO from a few students in video below.)
Workshops, speaker series, and networking events complement hands-on projects and industry mentorship, ensuring a comprehensive learning experience. Another key program feature is an internship that bridges impact and finance, helping students gain insights into the evolving role of a CFO in the social sector.
Raising the financial leadership bar
Silver emphasized the program’s unique approach: “Today’s social sector organizations need more than just accountants who can close the books; they need strategic thinkers with an MBA-level understanding.” This sentiment echoes throughout the program, raising the bar for financial leadership in the social impact realm, she said.
“Today’s social sector organizations need more than just accountants who can close the books; they need strategic thinkers with an MBA-level understanding.” — Nora Silver.
Even-Tov highlighted the diverse backgrounds of the program’s candidates: from seasoned finance professionals seeking meaningful impact to experienced nonprofit professionals aiming to amplify their fiscal expertise. “The program challenges its participants to balance the mission of the organization with financial stability,” he said. “Without wise business decisions, these organizations will not be able to achieve their social missions.”
CFOs in demand
Demand for such specialized financial talent is high, especially in California, a hub for the social impact sector, Silver said. “Of the 86,203 U.S.-based foundations, 22,347, or 26%, are located in California and hold assets of more than $722 billion,” she said. The base salary range for a senior finance manager or director in the sector is $120,000-$140,000.
Mentorship is a cornerstone of the Impact CFO program—and mentors in the Impact CFO program hail from industries including education, health care, impact investing, government, humanitarian aid, housing, art & culture, and philanthropy.
Hoerauf’s mentor, David Samuels, MBA 86 and CFO of REDF, exemplifies this. Interning at REDF, Hoerauf uses her MBA skills in a real-world setting, applying her learnings from courses like Strategic Management of Nonprofit Organizations and Social Sector Solutions.
Victor Ringeard, MBA 24, who is transitioning from a healthcare consulting background, anticipates a transformative experience at LifeLong Medical Care under CFO Brent Copen. Ringeard aims to grasp the nuances of nonprofit finance in healthcare and learn how to influence stakeholders who may not have a financial background, all the while making healthcare more accessible in the Bay Area.
A deeper understanding of the role
Yvonne Mondragón, BS 16, MBA 25, is blending her investment banking career with her nonprofit commitments. “Understanding the CFO role deeper will enrich my contributions to both sectors,” Mondragón, who serves on the board of the East LA Community Corporation, said.
Delphine Sherman, CFO of BRIDGE Housing, is mentoring Alex Weinberg MBA 24, who is interested in low-income housing, a field where BRIDGE Housing is a major player.
Sherman, the former CFO of Haas, said she believes that the Impact CFO program is not only shaping future leaders, but “molding a new financial paradigm in the social sector.”
“Impact CFO will fill a huge need for strategic, forward thinking, systematic, efficiency-driven, change agent CFOs in the social sector,” she said.
Looking ahead, Even-Tov and Silver envision building one of the largest networks of finance professionals in the social sector within a decade.
“We want the Impact CFO program to stand as a beacon, illuminating the path for future CFOs committed to making a difference,” Even-Tov said..
At a time when the world—and especially the job market—is full of uncertainties, it can often seem impossible to rise above the challenges many women face, from the workplace to their personal lives.
The 28th annual Women in Leadership conference aims to shed light on these challenges—and more specifically, the resilience that women exhibit. This year’s theme, “Leading with Resilience,” features speakers who will discuss their experiences in maintaining strength and overcoming adversity as women, from the personal to the professional to the physical. The conference will be held Saturday, Feb. 24, at the Haas School of Business, with an additional optional event the preceding evening at Ivy Room in Albany.
“Thinking about the theme for this year, we wanted to focus on what was happening in the broader world and physical environment,” said conference co-organizer Jillian Geary, MBA 24. “And this topic of resilience kept coming up for a lot of us in the room.”
Organized by the Women in Leadership club, the conference is one of the longest-running and highly attended events at Haas.
The conference will feature speakers such as Yasi Baiani, co-founder and chief product officer at Raya; Shripriya Mahesh, founding partner at Spero Ventures; and more.
Geary, who worked for a diagnostics startup amid the pandemic, discussed how her background in health care helped inspire the conference themes of leadership and resilience. She noted that, especially during such a time of uncertainty, she discovered the importance of collaboration.“I think of this conference in a similar manner—that we are smarter when we come together and create an atmosphere for people to share the challenges they’ve been through, rather than solely share their biggest successes.”
Co-organizer Alyssa D’Cunha, MBA 24, likewise noted that she hopes that the conference will help normalize difficult conversations surrounding hardship through a mixture of keynotes, a fireside chat, and panels on topics ranging from navigating male-dominated fields to living a balanced life.
She added that their ultimate goal is for attendees to leave the conference with a toolkit, having discovered their own resilience.
D’Cunha, who has a background in mechanical and materials engineering, highlighted the significance of addressing how women can navigate and succeed in male-dominated industries. Kellie McElhaney, Haas lecturer and founding director of the Center for Equity, Gender, and Leadership, will lead a conference workshop on the topic.
“I remember having a less than ideal conversation about having reached parity already, and how there is no longer this equality or equity problem that we need to address going forward,” she said. “We want to talk about how you navigate conversations like that with your superiors and what it means to be equity fluent.”
On Friday, Feb. 23, there will be a pre-conference “Story Slam,” inspired by Haas tradition of Story Salon, where students share their lived experiences with storytelling.
It’s lunchtime on a recent Saturday and Melissa Little and a group of fellow Berkeley Haas Evening & Weekend MBA students are scooping gluten-free noodles, free-range chicken, and organic salad into large pans after lunch.
“We only have a few minutes to load the last of the bowls before class starts,” said Little, EWMBA 24, an energy consultant who most recently worked as a strategic energy partnerships manager at Google. She and her classmates rush carts of food down the Chou Hall elevators and load up a hatchback whose driver is waiting at the curb.
The group has completed this mad dash since October 2022, when Little kicked off a program to donate hundreds of pounds of the cohort’s uneaten lunch food to the Dorothy Day House in downtown Berkeley, which shelters and services homeless and low-income people in the area.
For Little, the program is a long-awaited feat.
During her first few Saturdays in the EWMBA program, she discovered that most of the leftover lunch food for her Saturday cohort was thrown out— from boxed lunches to trays of turkey meatballs to chocolate chip cookies.
“It drove me crazy for the rest of the school year,” Little said. “I live in Berkeley and ride my bike here past unhoused people who could be eating this.”
Little worked with Kelly McCartney, a coordinator with campus’s Bancroft Catering, to figure out how she could donate the extra food. While McCartney was eager to help, Little didn’t yet have a partner to pick up the food and make her plan work—until she started a class called Design Thinking, taught by Lecturer Dave Rochlin.
In the class, her breakout group focused on the social sector and chose to address the needs of the unhoused. Little, a member of the Haas Sustainability Task Force, was on a mission to figure out how to donate the cohort’s food to a nonprofit in Berkeley.
Rochlin’s class recommends starting with user-centered research, including on-site visits, which led Little to Dorothy Day, where she met with Executive Director Robbi Montoya.
They talked for an hour straight, discussing the complex needs of the unhoused community and, eventually, how to make a food rescue plan work. Montoya agreed to transport the extra lunches to Dorothy Day every week if Little could meet a driver to get the food to the curb, and help load it.
Andrea Carroll, a cook at Dorothy Day, now transports the food from Haas and helps figure out how to best use it to build between 100-200 dinners that night. “The fact that we don’t have to dip into our storeroom to put out delicious meals is a huge boon to our residents and the folks we provide meals to out of our back door,” she said. “It’s such a good variety of lovely, fresh food that’s really healthy.”
Little recruited classmates, including Kevin Cheng, also EWMBA 24, to help her collect and load the food each week. To stay organized, she designed a logistics system to log communication with the Dorothy Day House volunteers and map out routes from Chou Hall to downtown, even on Cal football days.
A year later, Little and Cheng continue to volunteer together every Saturday. Cheng, who had volunteered with the Berkeley Food and Housing Project as a Cal undergraduate, said he enjoys serving hot meals to the community. So when he learned about Little’s project, he wanted to help give back, as well as use what he’s learned about problem-solving at Haas. “It’s a way to create opportunities for reducing waste and redirect food for good,” he said.
Rochlin said he was thrilled to learn about the successful outcome of an enterprise that had launched in his class. “This is what we hope to see,” he said. “Haas is at its best when the students take what they learn in the classroom and apply it outside in the world —and it’s even better when they create impact for populations in need. It’s a perfect example of Beyond Yourself.”
Haas is at its best when the students take what they learn in the classroom and apply it outside in the world. —Lecturer Dave Rochlin
Little is now working with Danner Doud-Martin, director of Haas Campus Sustainability, to make food rescuing a permanent student role within the Haas Sustainability Task Force. Their goal is to ensure that Little’s work with Dorothy Day will continue after she graduates.
Doud-Martin and Little are also looking to grow the program so that food in other Haas programs won’t go to waste. “The work that Melissa has done this past year on behalf of Haas and the EWMBA program with the Dorothy Day House is nothing less than extraordinary,” Doud-Martin said.
“This is a fantastic partnership,” Carroll said. “We’re saving this food by providing it to people.”
A student team that imagined a plan for Hyundai Cradle to build an electric-powered mobile medical fleet and market it in North America won the 2023 Haas Purpose-Built Vehicles (PBV) Challenge.
Hyundai Cradle, Hyundai Motor Group’s Mountain View, Calif.-based open innovation and investment arm, sponsored the challenge, which was held April 23 at Berkeley Haas.
Cradle challenged students to develop novel business models for the company’s future PBV market launch in North America. Hyundai Motor Group is in the final stages of building a flexible automobile base, called a skateboard, that can be used to produce many kinds of PVBs—vehicles ranging from ambulances to passenger shuttles to delivery fleets for small businesses.
The first-place team took home $15,000 for its pitch. Winning team members included Srivatsa Chakravarthy, EWMBA 25; Oleksandr Krotenko, EMBA 23; Victoria Marcus, EWMBA 25; and Simeon Ryan, EWMBA 25.
The competing teams, composed of graduate students from across all three Haas MBA programs and the UC Berkeley School of Information, participated in a semester-long series of training sessions, focused on the Lean Startup method and customer discovery training. The top three finalist teams were then tasked with finding and validating novel business models for PBVs that they pitched to judges at the end of the program.
“This was a fantastic way to showcase students from across all three of our MBA programs,” said Rhonda Shrader, executive director of the Berkeley Haas Entrepreneurship Program (BHEP). “The program also provided a perfect opportunity for our MBA students to work with top graduate students from across the campus.”
Solving real problems
The winning group pitched a fix for emergency medical services that they described as “antiquated, expensive, and ripe for technological disruption.” The team suggested that Cradle partner with industry leader AMR (American Medical Response) to capitalize on the company’s market share and need to contract with an outsourced fleet.
Marcus, who works in corporate finance, said she was excited to work on solving a real problem experienced by a company outside of her industry.
“Going through the pitching process with judges was the pinnacle business school experience I’ve always wanted to try since I started my EWMBA,” she said. During Lean Launch, she said her group conducted more than 30 interviews with potential clients. “We had to pivot a couple times from our original idea to make sure we were solving problems for them,” she said. “Ultimately this led us to think hard and adapt so we could develop a detailed business plan that would benefit potential clients.”
During the pitch day, Kia’s vice president of new business planning, Ju yup Kang, a judge for the competition, outlined how KIA is transforming from a car company to a “full mobility solution provider.” Henry Chung, senior vice president and head of Hyundai Cradle, said the students had clearly put in a lot of effort to develop creative solutions to difficult problems.
Chung; Kang; Changwoo Kim, a chief coordinator at Cradle; Tafflyn Toy, an open innovation project manager at Hyundai Cradle; and Nick Triantos, chief architect, automotive system software at Nvidia, served as the final challenge judges.
Team Ingenium took second place ($10,000) with a pitch for all-in-one fleet management. Members included Reggie Draper, EMBA 23; Michael LaFramboise, MBA/MEng 24; Matthew McGoffin, MBA/MEng 23; and Michael Yang, MIMS (master of information management and systems) 23.
Team Mobility Moguls took third place ($5,000) for a strategy that addressed a mobile future for police & security. Team members included Anmol Aggarwal, EWMBA 24; Suveda Dhoot, MBA 24; Hrishikesh Nagaraju, MIMS 24; Nithin Ravindra, EWMBA 23, MIMS 24; and Lutong Yang.
The changes in the part-time and full-time MBA outcomes are largely due to drastic changes in the rankings factors.
The Berkeley Haas EWMBA Program, which includes our evening, weekend, and Flex cohorts for working professionals, regained the top spot after four years, thanks to its improved peer assessment and an increased emphasis on the significant work experience of Haas students. Chicago Booth dropped to #2 from #1.
The FTMBA programtied with Columbia and Duke for the #11 spot this year. Columbia and Haas previously tied for #8, while Duke ranked #12 in 2022. U.S. News increased the weight of placement success—compensation and employment within three months of graduation—to 50%, compared to 35% previously. The weighting of quality assessments, including the peer and employer polls, decreased to 25%, compared to 40% previously.
Haas reported significant increases in career outcomes for the FTMBA Class of 2022. Starting salaries were up more than $10,000 from the prior year, and 92.7% of graduates had started jobs three months after graduation. Amazon, Bain Consulting, and McKinsey & Co. were the top three hiring firms, followed closely by Adobe, BCG, Deloitte, and Google. While many Haas graduates benefit from stock options, which do not factor into U.S. News, and some take lower salaries initially to land the jobs of their choice, their lifetime career earnings are among the top three of all business schools, according to Payscale.
“The ROI of the Berkeley Haas MBA remains strong,“ said Jamie Breen, assistant dean of MBA Programs. “According to the Financial Times, our alumni reported earning the fifth highest salaries in the world three years after graduating.”
The Berkeley Haas MBA for Executives Program ranked #9 among EMBA programs, compared to #7 last year. This ranking continues to be based entirely on peer assessment by deans and full-time MBA directors.
In the U.S. News specialty rankings, based on peer assessment, the FTMBA ranked in the top 10 in the following areas:
#4 Real estate
#4 Nonprofit
#5 Entrepreneurship
#6 Business analytics
#8 Finance
#9 Management
#9 Marketing
#10 International
Overall, the five ranked Berkeley Haas degree programs appear in the top five in key rankings:
FTMBA: #4 among U.S. schools in the Financial Times
EWMBA: #1 among part-time MBA programs in U.S. News
MBA for Executives: #1 in the last published Economist EMBA ranking (2020)