Technology companies whose business grew during the pandemic – like Amazon. com Inc. and Zoom Video Communications Inc. – are attracting more MBA talent to the workforce, helping to offset the setbacks of the sectors hardest hit by the Covid-19 economy.
Vacancies for technology positions increased by 57% of full-time master’s programs in business administration last fall, according to a survey of nearly 100 schools in the MBA Career Services & Employer Alliance industrial group. Overall, however, it has been a lackluster recruitment season in business schools, the survey found, as nearly half reported a general decline in opportunities for students.
The sectors most affected by the pandemic, such as retail and energy, have reduced their recruitment for MBA, according to the report. This is especially the case for companies in the hospitality industry, which 61% of business schools said they cut job opportunities.
Nearly half of the schools have also reported a decline in recruiting consulting firms – traditionally, some of the biggest hires of MBA graduates every year. Several of these companies, including PricewaterhouseCoopers LLP and Bain & Co., said last year that they planned to make fewer hires among sophomore MBA candidates, in addition to those who interned in the summer.
Some of the biggest recruiters were technology companies whose businesses thrived during the coronavirus crisis, including Amazon, Zoom and Netflix Inc., said Megan Hendricks, executive director of the MBA Career Services & Employer Alliance. Amazon plans to recruit more than 1,000 MBA students for full-time jobs and internships this year, said a company spokeswoman, while Zoom said it plans to hire more MBA graduates as part of a new global emerging talent program. Netflix did not comment.