Top MBA Recruiters: Finding A Role With PepsiCo
PepsiCo is one of the most well-known companies in the world. Known as a top manufacturer, marketer, and distributor of soft drinks and snack foods, the company also serves as a top recruiter of MBA talent in the United States.
PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc. In addition to Pepsi’s soft drinks and Frito-Lay snack foods, PepsiCo has acquired companies like Tropicana Products, Quaker Oats Company, and Gatorade. According to the Chicago Tribune, PepsiCo’s brands generated retail sales of more than $1 billion apiece in more than 200 countries. Based on their net revenue, PepsiCo is the second largest food and beverage business in the world.
Last year, Reuters reported that PepsiCo increased its annual dividend to $3.01 per share from $2.81 and said it would return about $7 billion to shareholders this year, with about $3 billion through buybacks. The company also employs more than 250,000 people across the world.
Why is PepsiCo Looking for MBA Talent?
While the company boasts some of the world’s most recognizable brands, PepsiCo has not strayed away from innovating.
“We are more quickly and effectively lifting and adapting successful product launches from one market to another, driving more rapid expansion of our largest brands as well as our future billion-dollar brands,” said PepsiCo CEO Indra Nooyi during an earnings call with financial analysts last year.
In fact, Nooyi explained that new products account for approximately 9 percent of PepsiCo’s revenue growth, saying:
“That’s really what we targeted for ourselves this year, and we’re running close to that number again,” she said. “And typically what we look for within that is sort of a 75 percent line extensions, what we call ‘refresh innovation.’ News drives growth in this category.”
“Then, 25 percent, we’d like it to be sort of ‘reframe and breakthrough,’ which is new platforms or substantial new packaging that can take the business to a whole new level.”
Who is PepsiCo relying on when it comes to crafting new innovations and business strategies for the the future? They are looking to top MBA talent, of course.
What Qualities is PepsiCo Looking For and Where Are They Hiring From?
The company offers many diverse career opportunities for MBAs. Jill Godbout, a Campus Recruiter Senior Manager, recently spoke to TopMBA.com about what the company looks for in its MBA hires.
Godbout was asked why she thinks PepsiCo is a popular employer with MBAs.
“I think PepsiCo has a great reputation on campus for a number of reasons including, but not limited to the fact we’re a $66 billion company with many popular brands that students grew up with, incredible employment possibilities–employees typically rotate to new roles/assignments every eight to 24 months and have endless career path opportunities, our commitment to performance with purpose in everything we do–human, environmental, and talent sustainability.”
Godbout also said that the vast majority MBAs are hired to roles are within PepsiCo’s marketing and finance departments. A smaller number of MBAs are hired to corporate strategy, global procurement, global supply chain operations, and sales positions.
As a PepsiCo campus recruiter, Godbout was able to shed some light on the types of business schools the company likes to recruit from. She said that while PepsiCo likes to draw talent from quality business programs, a number of other factors also come into play. These include the number of graduates that enter into that particular function, distance from a PepsiCo office, the historical success of our recruiting efforts, and alumni performance at PepsiCo.
Godbout provide the following list of business school’s wear PepsiCo hires most of its MBA talent:
- Chicago Booth
- Duke Fuqua
- Northwestern Kellogg
- Michigan Ross
- NYU Stern
- University of Texas McCombs
- SMU Cox
Most business students recruited by PepsiCo are brought on for an internship. According to Godbout, PepsiCo brought on 70 interns and 36 became full-time employees. She added that even though the company recently began to focus on hiring undergraduates, PepsiCo still hires approximately 110 MBAs–60 internships, 50 full-time–per year in the United States.
According to Internships.com:
“Landing an internship with PepsiCo is one of the best ways to get your foot in the door and drastically improves your chances at landing a full-time job at the company after graduation. PepsiCo interns work on projects that provide valuable hands-on experience and will have the chance to learn from more experienced professionals. At the culmination of the internship, you’ll have enough experience to determine if you’re prepared to launch your career with PepsiCo.”
You can search for PepsiCo internships by visiting the company’s careers page.
What salary and benefits can an MBA hired at PepsiCo expect?
MBAs hired at PepsiCo are compensated well. According to PayScale.com, MBAs at PepsiCo make the following salaries:
- Master of Business Administration (MBA) – $90,000
- Master of Business Administration (MBA), Finance – $103,17
- Master of Business Administration (MBA), Marketing – $109,773
- Master of Business Administration (MBA), Business Management – $105,000
- Master of Business Administration (MBA), General & Strategic Management – $135,000
- Master of Business Administration (MBA), Human Resources (HR) – $85,988
- Executive Masters of Business Administration (EMBA) – $79,050