One of the hottest companies in the booming cannabis sector is on a hiring spree - and it shows how the industry is racing to scale up
- Cannabis growers are hiring like crazy in preparation for the opening of Canada's legal marijuana market.
- Aurora Cannabis, the third-largest grower by market cap, has 11 pages of job openings on its website in fields ranging from marketing to laboratory research and legal services.
- In the US, cannabis companies are rapidly adding experienced executives and former politicians to their boards as the sector gets more competitive.
The largest cannabis growers are staffing up in preparation for the planned opening of Canada's legal marijuana market on October 17.
Aurora Cannabis, the third largest Canadian cannabis grower - or licensed producer (LP) - by market cap, has a whopping 11 pages of job openings on its website.
These positions are based across Canada, and range from high-level executive positions to laboratory research positions and industrial cleaners.
The numerous positions include:
- Manager of international partnerships
- Data management specialist
- Junior plant scientist
- Government relations manager
- Online editorial manager
Aurora has been on an acquisition spree as of late, buying rival Medreleaf in a $2.3 billion stock transaction in May, among other notable deals.
Cam Battley, Aurora's Chief Corporate Officer, told Business Insider in a May interview that the company was moving at the "speed of Aurora."
"We're operating based on a very clear strategic plan that calls for both organic growth and growth by M&A, and for all of that to happen incredibly quickly," Battley said. "And no exaggeration, the entire management team works seven days a week."
Canopy Growth, the largest Canadian LP with a $14 billion market cap, also has a plethora of openings, from electrical engineering roles to mobile app developers.
And Tilray, the second-largest LP, has a number of openings in areas like business development, marketing, and quality assurance.
It's a clear sign that the cannabis industry is maturing as major companies seek to build out expertise amidst increasing competition.
The number of job openings in the US cannabis industry is set to grow by 220%
It's also a great time to be a job-seeker in the cannabis industry.
In the US, the number of job openings in the cannabis sector will grow 220% in 2019.
The total number of job postings for the cannabis industry increased by 445% in 2017, according to ZipRecruiter, an online job platform. There are now more cannabis workers than dental hygienists in the US. At the same time, average salaries increased 16% between 2017 and 2018, according to Vangst, a recruiting company for the industry.
Paul Rosen, the CEO of the Toronto, Canada-based Tidal Royalty, told Business Insider in a recent interview that he prefers to hire from "outside the cannabis industry."
"I'm looking for people with skill sets in areas like consumer packaged goods, biotech, and investment banking," Rosen said. "That's ultimately what this industry needs."
That's already happening, as executives from more established industries take roles in the cannabis sector.
CannTrust Holdings, a Canadian medical marijuana producer, announced on Tuesday morning that Peter Aceto, the former CEO of Tangerine (formerly ING Direct), will take over as CEO.
"The opportunities that lie ahead are limitless," Aceto said in a statement.
In the US, prominent former politicians like John Boehner and Bill Weld have joined the board of Acreage Holdings, a US-based marijuana producer, while MedMen has added former Los Angeles Mayor Antonio Villaraigosa to its board.