An M.B.A. from a top business school was once a sure path to success, but the job market has shifted. The share of 2024 M.B.A.s still job hunting months after graduation has more than doubled, or even tripled, and they come from elite schools throughout the nation.
Even at Harvard, Wharton, and Stanford, placement rates have declined. Harvard reported that 23% of its 2023 M.B.A. graduates were still unemployed three months post-graduation, up from 10% in 2022. Other top schools are facing their worst hiring outcomes in years.
The downturn is driven by hiring slowdowns in consulting, tech, and finance. Economic uncertainty, automation, and shifting employer priorities are making general business degrees less of a guarantee for high-paying jobs.
Schools are responding with expanded career services, digital networking tools, and updated curricula. Harvard has introduced new coursework, but graduates are increasingly exploring startups, contract work, or delaying graduation to improve their odds.
For future M.B.A. students, prestige alone is no longer enough. Success will require strategic career planning, industry alignment, and proactive skill-building to navigate today’s evolving job market.