Disruption from the pandemic was a net benefit to many companies in Big Tech. People were forced to work, shop, and find entertainment online, creating a spike in demand for the services of Amazon, Zoom, Netflix, and the like. This spike brought unexpected expansion opportunities for these companies. As a result, more business school grads were and are being hired in tech than many other sectors hit hard by the pandemic (e.g., retail, hospitality, energy, etc.). While consulting firms were not hit nearly as hard by the pandemic as retail or hospitality, they too were cautious MBA hirers relative to Big Tech in 2020.
Tech Companies are Hiring More MBAs than Ever Before
Tech companies hiring MBAs used to be somewhat of a rarity. But many tech companies including Amazon, Zoom and others are filling a gap in MBA hiring created by a vacuum in traditional MBA recruiting (ex: retail and consulting). Openings for tech positions rose 57% at full-time MBA programs this past fall, according to a survey by industry group MBA Career Services & Employer Alliance. About the same amount, 50%, reported decreased hiring from consulting firms, which are typically major landing spots for MBA students. The long and short of it: Big Tech is filling MBA roles as fast it can, while traditional MBA hirers have pulled back.
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What this Means for MBAs
Flexibility in career plans is critical for today’s MBAs. Internship and full-time roles at tech companies are more plentiful than ever before. By comparison, hiring in non-tech industries is still depressed. However, we anticipate this shifting as the pandemic recedes. When energy, retail, and hospitality firms benefit from reopening, demand for MBAs in these industries will kick back in. We expect that MBA hiring in traditional fields to return to normal, or close to it.
Tech companies hiring unusual numbers of MBAs was an unexpected result of the pandemic. We expect demand for MBA talent to return to near-normal levels for non-tech sectors by the close of 2021 – barring unforeseen circumstances related to the pandemic. If you’re an MBA zooming toward a career in corporate America – whether in tech, finance, or consulting – you have no time to waste. Take advantage of MC’s expert resources, including CV edits and case interview prep.