Harvard MBA Placements Drop to 23% as US Business Graduates Struggle
2 Min Read
United States – The job market for MBA graduates from top US business schools, including Harvard Business School (HBS), Stanford, and Wharton, is facing a significant decline. A recent report by The Wall Street Journal revealed that 23% of Harvard MBA graduates remained unemployed three months after graduation, raising concerns about the viability of an MBA degree for securing high-paying jobs.
This trend extends beyond Harvard, as other elite business schools in the United States are witnessing similar placement struggles. The downturn is attributed to economic shifts, corporate restructuring, and a greater demand for specialised technical skills over generalist MBA expertise.
Companies Shift Focus to Efficiency and Automation
According to the report, major companies like Amazon, Google, and Microsoft have reduced hiring, prioritising efficiency and cost-cutting. Even leading consulting firms McKinsey & Company and Boston Consulting Group (BCG) have cut down their MBA hires for 2024, further shrinking job prospects for graduates.
The growing influence of artificial intelligence (AI) and automation is also reshaping hiring patterns. Many traditional MBA roles are being redefined or eliminated as businesses focus on tech-driven solutions. Employers are now favouring candidates with specialised skills such as coding, data analytics, and AI expertise, obtained through certifications and boot camps rather than expensive MBA degrees.
Graduates Reconsider ROI of an MBA
With once-guaranteed high salaries no longer a certainty, many graduates are questioning whether their costly MBA degrees are worth the investment. The report suggests that business schools must adapt their curricula to align with the rapidly evolving job market.
As the economic landscape continues to shift, experts stress the need for MBA programmes to offer more tech-oriented training and realign their focus towards the changing demands of employers. The future of elite MBA programmes now depends on how effectively they equip students with the skills needed to thrive in an increasingly automated and data-driven economy.
Source: SHIKSHA
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