Tech companies like Amazon, Zoom are hungry for MBA graduates
The technology industry is the biggest recruiters of MBA graduates, according to a recruiting trends survey of nearly 100 business schools.
The MBA Career Services & Employer Alliance’s survey found that the tech industry saw the largest increase, with 57% of schools reporting an increase — similar to 56% who reported an increase in 2019. “Healthcare also saw an increase in 2020 (50%), which is 10% higher than in 2019,” it said.
The industries where the largest numbers of schools saw a decrease include the hospitality industry, which business schools say they saw a 61% decrease in 2020 and six percent decrease in 2019. The consulting industry was also hit hard by the pandemic — business schools saw a 46% decrease in 2020 and a reduction of 55% in 2019.
The technology industry also showed the strongest increase for internship recruiting for full-time MBA students, with 55% of schools indicating an increase; conversely, 61% saw an increase in 2019.
Healthcare also saw a 45% increase, compared with 28% the previous year. The hospitality industry was hit hardest, seeing a 56% decrease compared with 9% that saw a decrease in 2019.
Other takeaways from the survey include:
- The largest increase in recruiting activity by organisation type (32%) was seen with firms not headquartered in the school’s geographic location
- The largest decrease (50%) was in small-size companies, which largely remained the same in last year’s survey
- 93% of business schools saw an increase in employer use of virtual interview technologies, up from 63% that reported an increase last year
Top companies are hungry for MBA graduates
Traditional hires of MBA graduates include consulting and investment banking sectors, but COVID-19 has shifted these trends. Many industry experts say the tech industry is quickly becoming a major recruiter, echoing the report’s findings.
WHU – Otto Beisheim School of Management MBA Careers Center director Dr Christine Menges previously told U2B that the tech industry is quickly becoming a major recruiter.
Companies like Amazon are big recruiters of WHU Otto Beisheim School of Management’s MBA graduates. As such, Dr Menges said many of their graduates are moving into the tech and startup scene.
Education leaders interviewed by WSJ also echoed her sentiments, with more MBA graduates going into the tech sector.
Speaking to The Wall Street Journal, MBA Career Services & Employer Alliance executive director Megan Hendricks said some of the biggest recruiters of MBA graduates had been tech companies whose business have boomed during the pandemic, including Amazon, Zoom and Netflix Inc.
Amazon plans to recruit more than 1,000 MBA students for full-time jobs and internships this year, a company spokeswoman was quoted saying, while Zoom reportedly said it intends to hire more MBA graduates as part of a new, global emerging talent programme. Netflix had no comment, said WSJ.