Online retail giant Amazon has emerged as a top recruiter in renowned business schools across the United States. In business schools such as those of University of California, Berkeley; Duke University and Carnegie Mellon University, Amazon is the top recruiter. At Massachusetts Institute of Technology, Duke University, Dartmouth College and University of Chicago, it is the destination of choice for students seeking internships.
According to the dean of University of Chicago Booth School of Business, Madhav Rajan, Amazon accepted more interns from the institution than either McKinsey & Co or Bain & Co, which were previously the top intern hirers from the school. Per Amazon’s university programs director, Miriam Park, the online retail giant has hired about 1,000 MBAs in the last one year. That’s tiny in light of the fact that Amazon is planning to recruit 50,000 software developers next year.
However the scale of hiring that Amazon is conducting at business schools is upending campus recruiting and stymieing other companies who are also eyeing the hires. According to Park, MBAs understand the customer-obsessed ethos of Amazon and thus tend to be analytical, scrappy and risk-oriented. Many of them go on to fill the future leadership ranks of the online retail giant in positions such as senior project managers. This is a role that pays an average of between $120,000 and $160,000 per year. The shift of MBAs from consulting and finance has come as technology companies which were once uninterested in them, have learned their value.
In its recruiting process Amazon has employed the same strategy with which it does business in regards to how it competes with other companies looking to hire. Recruiters from the company descend on these business schools en masse and then keep in touch with the students. This contrasts sharply with other companies which typically send one or two recruiters.
The talent wars start at the onset of classes and sometimes even earlier. In June Amazon sponsored an event at its headquarters in Seattle for about 650 women set to join MBA programs as well as some returning students. Among this group some were offered internship offers set to begin in summer next year.
Despite Amazon’s popularity, the head of recruiting at consulting firm Bain & Co, Keith Bevans, said the company continues to get its share of elite MBAs who stand to learn problem-solving and strategy from the masters.
“Going to the best grocery store in the world doesn’t make you a better chef,” said Bevans.