The technology industry is very broad, it includes large market-cap firms like Google, Amazon, Facebook and Apple, high growth “unicorn” firms like Uber and Lyft, and small startups which may have received a first round of funding. The technology work environment is generally characterized as high growth, fast paced, innovative, exciting, fun and a bit more risky than other fields. Tech firms are generally very ambitious, not limiting their goals to their current marketplaces.
Roles for MBAs within technology firms are also broad, and can be focused on strategy for the firm, or product and brand management, as well as positions in the functional areas of finance, marketing and supply chain.
The main centers for technology firms in the United States are Silicon Valley, CA and Seattle, WA. In other parts of the world, tech hubs include London, Bangalore, Berlin, Dublin and Singapore.
What is attractive about the technology sector
In technology you work on things, you have an ability to make a direct and measurable impact. In many firms, due to the nimble nature of the marketplaces, you can propose ideas and see them through to execution. Innovation is necessary in technology, the fast paced environment requires creative problem solving. Tech companies are generally nimble, and even the large companies are young, and create a work environment that is fun. The stereotypical tech company is a meritocracy, allowing individuals to rise through the ranks, leadership opportunities tend to come around quickly.
What is unattractive about the technology sector
Being fast paced is a double-edged sword, it does require that employees are passionate about the sector and firm, and willing to go the extra mile to drive things forward. There are less clear cut career paths, generally, in the tech sector. You will also typically be less represented, as an MBA, at your firm.
There also may be a cultural hangover, within the firm, where the geeks don’t respect those in a business role. As mentioned above, the technology sector is more risky, in terms of a career, by the very nature that it is a sector that is still dominated by a startup culture ethos, where the little guy is constantly trying to disrupt the established players.