New Amazon Headquarters Bidding Race Begins, with 50,000 New Jobs on the Line
By October 19, bids for the newest Amazon headquarters (dubbed HQ2) will close. For the eCommerce giant, it’s another benchmark for an already historic year.
Following its outward commitment to more hiring and the landmark purchase of grocery store chain Whole Foods earlier this summer, Amazon just announced it will be establishing a new non-satellite headquarters outside of Seattle for the first time, which is expected to bring 50,000 jobs to a select city that bids for hosting duties. With the announcement, Amazon notes, “We are looking for a location with strong local and regional talent—particularly in software development and related fields—as well as a stable and business-friendly environment to continue hiring and innovating on behalf of our customers.”
In the six-page Request for Proposal form, which can be read here, Amazon notes a preference for North American cities that have the following:
- “Metropolitan areas with more than one million people.”
- “A stable and business-friendly environment.”
- “Urban or suburban locations with the potential to attract and retain strong technical talent.”
- “Communities that think big and creatively when considering locations and real estate options.”
Assuming Amazon does elect to build in a city with those population restrictions, there are only nine possible U.S. locations: New York City, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Antonio, and Dallas. Three Canadian cities—Toronto, Montreal, and Vancouver—also hit the qualifying population figure.
In Philadelphia, Mayor Jim Kenney quickly announced the city’s intent to enter the bidding war. Chicago Mayor Rahm Emanuel also seems to be close to the effort. However, there may be reason to believe that Texas will be the eventually landing spot for HQ2, where 53-year old CEO Jeff Bezos spent much of his youth.
In a statement, Bezos said, “We expect HQ2 to be a full equal to our Seattle headquarters. Amazon HQ2 will bring billions of dollars in upfront and ongoing investments, and tens of thousands of high-paying jobs. We’re excited to find a second home.”
Local Economic Growth
Amazon notes that the host city will receive a boon beyond more lucrative job opportunities. In its announcement, the company, which employs nearly 400,000 people worldwide (not including short-term seasonal employees), detailed its financial impact in Seattle, which “resulted in an additional $38 billion to the city’s economy–every dollar invested by Amazon in Seattle generated an additional $1.40 for the city’s economy overall.”
As well, the company created more than 40,000 direct jobs in the Emerald City, and 53,000 additional jobs “as a result of Amazon’s direct investments,” according to the U.S. Bureau of Economic Analysis. In the Request for Proposal form, the company promises it “will hire as many as fifty thousand (50,000) new full-time employees with an average annual total compensation exceeding one hundred thousand dollars ($100,000) over the next ten to fifteen years, following commencement of operations.”
According to Wall Street firm Needham & Co., Amazon is expected to control 50 percent of all U.S. online sales by 2021. The ever-increasing market dominance has earned Amazon a fairly negative reputation, but has done little to deter growth.
Via Fortune
Seattle has also been witness to years of skyrocketing housing costs due to the immense economic growth. The Seattle Times notes “the median price hit $730,000, up nearly 17 percent from a year ago” for houses. Amazon and the rest of the Seattle corporate community may not be the only players responsible for the unusually high prices, but it is an inescapable part of the equation.
In a recent interview, Columbia Business School professor Rita McGrath said that Amazon may be looking for a location with less staggering housing costs.
“It’s hard to attract people if they can’t afford the housing available locally,” she said.
The Amazon MBA Impact
Last year, we highlighted Amazon’s massive effect on the MBA job market. The company creates a direct pipeline from its MBA internship program to full-time employment, which should rapidly increase with the creation of HQ2. In a previous interview with the Financial Times, Miriam Park, the Amazon Director of University Programs, highlighted the company’s recruitment strategy:
“The Amazon recruitment process is designed to ensure we hire top candidates with high-growth potential whatever their background may be. As part of this we recruit current MBA students and MBA alumni for permanent and internship opportunities worldwide and see MBAs as an important part of our leadership development. We value people who can balance long-term strategic thinking with tactical execution, and who have the ability to make data-driven decisions.”
The internship programs open opportunities for MBAs to join the company as senior product managers, operations analysts, and more. Throughout the Request for Proposal form, Amazon frequently reiterates its desire to build in a location that has a strong academic culture, writing, “a highly educated labor pool is critical and a strong university system is required.”
Amazon will formally announce where it will build HQ2 next year.
TCU Neeley Management Professor Michael Hitt Earns Career Achievement Award
A Distinguished Research Fellow at the Texas Christian University – Neeley School of Business, Michael Hitt, has received the Career Achievement/Distinguished Educator Award for his many contributions to the field of management throughout his career.
Hitt was presented with the award this year at the annual meeting for the Academy of Management. The award, one of the highest honors the Academy can give, was given in recognition of Hitt’s long career and service to the field of management through research, breakthrough developments, and innovative teaching methods.
“Letters of support from former students show Michael’s engagement and ongoing support for his students—encouraging everyone to be the best they could be, and going above and beyond to help them get there,” said one committee member who selected Hitt for the award.
Over his 40 years of teaching and research, Hitt has left his impact on the field of management in a number of ways. This is not the first time Hitt has been honored by the Academy of Management, however. He received the Irwin Outstanding Educator Award from the organization and being named as a “Thomas Reuters Highly Cited Researcher.” He has also served in different capacities for several scholarly journals, acting at one time as editor for the Academy of Management Journal, co-editor for the Strategic Entrepreneurship Journal, and with research published in a number of premier journals such as Organization Science, the Journal of International Business Studies, and many more.
Before coming to TCU, Hitt was a teacher at Texas A&M University, where he was the University Distinguished Professor Emeritus. He holds a BBA and MBA from Texas Tech University and a Ph.D. in organizational theory/behavior, quantitative methods in economics, and business policy from the University of Colorado.
Your Guide to the Most Affordable MBA Programs in Dallas
An MBA provides professionals with increased career flexibility and greater earning potential. Unfortunately, the sizable cost of graduate school can be a hindrance to students motivated to earn an MBA. The shackles of student loan debt can haunt former students well into their professional lives.
Luckily, many schools appreciate the toll a high price tag can take on students, and offer more realistic fees and resources. With this in mind, we’ve laid out three of the most affordable Dallas MBA programs.
Commerce College of Business — Texas A&M University
The Texas A&M Commerce College of Business offers a relatively affordable experience for aspiring MBAs. The school is particularly sensitive to the financial stress pursuing MBA can cause. This is why the school follows the [In]tuition plan. Commerce’s [In]tuition guarantees the cost of commerce students’ educations will not will remain the same from registration until graduation, so that students do not have to worry about rising costs and fees from year to year. According to their tuition calculator, a graduate student who lives off campus and is a Texas resident could pay a tuition as low as $5,775.06 per year. The program averages about two years. Commerce accepts a long list of outside scholarships, and they offer institutional scholarships based on academic achievement.
The cost may also be reduced for students who completed the appropriate undergraduate courses, which could waive six pre-requisite courses. Commerce offers 13 minor options, such as Accounting, Business Analytics, Corporate Management, and Cyber Security. Commerce students benefit from the flexibility of the plethora of online courses offered by the school.
Naveen Jindal School of Management — University of Texas at Dallas
At the Naveen Jindal School of Management, residents pay around $32,998, factoring in tuition and fees, and nonresidents pay about $64,332 for the full-time MBA. In the past few years, the university offered scholarships to 75 percent of their incoming full-time MBA students. There are two types of merit-based scholarships for full-time MBAs in this program: Cohort and Corporate. These are both merit-based and students must apply to be considered.
U.S. News & World Report ranked Naveen Jindal as the 38th best business school in the country, which boasts an impressive 90 percent employment rate for full-time MBA grads. Students have recently gone on to earn high ranking positions at companies like Amazon and Toyota.
University of North Texas College of Business
As of the 2016-17 school year, the total cost of an MBA at University of North Texas College of Business was about $41,780 for residents and $56,468 for non-residents. At UNT, students can apply for a variety scholarships to cut tuition costs for many different types of students. For example, the Lupe Murchison Foundation Graduate Fellowship is a scholarship awarded to students, not based purely on need or academic achievement, but also on the student’s effort and promise.
UNT also offers a prestigious Online MBA for students looks for a more accommodating schedule. The school also offers afternoon, evening, and weekend classes for students looking for schedule flexibility, and who also wish to experience the on-campus community.
For more valuable information about the best MBA programs Dallas has to offer, check out our guide to the metro and which schools don’t require GMAT/GRE scores for admission.
Hankamer LAUNCH Program Inspires Entrepreneurs to Help Others
The LAUNCH program at the Baylor University – Hankamer School of Business is giving entrepreneurs an opportunity to take on projects they are passionate about that also leave a positive impact on society.
The Global MBA Experience in Dallas
Business certainly has no borders. As new technology makes it easier for people to connect on different sides of the world, having a navigable knowledge of international business practices can be a crucial part of building and growing your career.
While most MBA programs provide a strong foundation of business skills that help graduates as they enter an increasingly international industry, several programs offer students the chance to truly focus their degree in global business. Whether through MBA concentrations, majors, or joint degree programs, the ability for students to truly specialize their degree will allow for the next generation of business professionals to truly break down walls and make connections across the world.
A newly thriving hub of business in the country, the Dallas metro area is a perfect home base for beginning a career that can take you across the globe. Below, we’ve rounded up some of the top Dallas international MBA programs.
McCombs School of Business – University of Texas at Austin
While the McCombs School of Business does not offer a concentration in international business for their MBA degree, the school does offer a joint MBA and Master of Global Policy Studies, allowing students to graduate with two degrees after just three years of study.
The MBA/Master of Global Policy Studies was created as a response to the increased need for professionals with a deep understanding of the global environment, both within the public and private sphere. The dual degree program centers around a practical approach to global business, including direct and hands-on experience in the industry, offering graduates a competitive advantage as they enter the work force.
The dual degree requires students to complete 84 hours of coursework, including both MBA core courses and electives, as well as the MGPS’ core courses and specialization. The first year of the degree focuses on the GPS core courses, the second year on the MBA, and the last year a combination of both degrees.
Naveen Jindal School of Management – University of Texas at Dallas
Students at the Naveen Jindal School of Management may choose to specialize their MBA in International Management. Approaching global business through an interdisciplinary lens, the UT Dallas International Management MBA includes courses on marketing, cross-cultural management, finance, and strategic management. The courses help students to integrate business concepts with international policies/practices, preparing them for success in developing international ventures. The concentration may include courses such as:
- Regional Area Studies: Latin America, Western Europe, Asia, Africa, and more
- Global Business Ethics
- Export Market Planning
- Global Mergers and Acquisitions
Satish and Yasmin Gupta College of Business – University of Dallas
At the University of Dallas’ Satish and Yasmin Gupta College of Business, students may choose to focus their MBA with a concentration in Global Business. The degree program requires students to complete 42 credit hours and fourteen classes including both the required MBA core curriculum and classes in the Global Business concentration.
In addition to the MBA core classes, some of which already focus on global business and strategy, concentration classes may include courses such as:
- Strategic Global Marketing
- Import/Export
- International Financial Markets
- Global Immersion
University of North Texas College of Business
The MBA program at the UNT College of Business has a number of options for specialization, including an International Business Concentration.
The UNT MBA consists of a total 36 semester hours, 18 of which are focused on the broad foundational knowledge of an MBA. The additional 18 credits may then be focused on the concentration in International Business.
Inside the McCombs MBA Classroom: The Power of Information Technology
One of the best ways to get to know an MBA program is to sit in on a class. While the classroom is just one aspect of the business school experience, a class visit offers a valuable preview of the learning environment, instructor expertise, student interaction and quality of discussion.
Unfortunately, not many MBA candidates have a chance to attend a course before landing on campus. That’s one reason that the University of Texas at Austin McCombs School of Business began offering a detailed write-up describing one of their popular MBA classes. Continue reading…
