Top US Business Schools See Sharp Decline In Placements; Harvard MBA Recruitments Drop To 23%

The top Business Schools in the US including Harvard, Stanford, Wharton, and others have seen a sharp decline in MBA placements. There are multiple factors contributing to this trend.

Study in US: Until now, an MBA from Harvard or other top universities in the US such as Stanford, Wharton and others was seen as a key to high-paying jobs. However, a recent report has highlighted a different trend, where it was found that around 23% of the MBA from Harvard are still jobless after three months of completion of their course. Similar, reports coming from other top MBA colleges in the US.

The Wall Street Journal report has highlighted this trend. According to the report, companies changing hiring strategies and economic shifts are among the main reasons behind this trend. Now, the MBA degree is not offering the guarantees it used to promise.

Recently, top companies have restructured their teams to leaner operations with an increasing focus on efficiency. There is a high demand for specialized technical skills including data analytics and coding, and only MBA graduates without technical skills are not that high in demand in the changing job scenarios.

The top companies in the technology sector which have always been major recruiters of MBAs such as Google, Amazon, and Microsoft have scaled back hiring. Also, consulting firms like BCG and McKinsey have reduced their MBA recruitment for 2024.

Changing Hiring Strategies, AI, And Automation Impacted MBA Placements In 2024

AI and automation are changing the requirements of new job roles. The companies need more people with skills in current technologies and a person with only an MBA and no technology skills is not much in demand by the companies. Employers are looking more for alternative educational paths such as certifications or coding boot camps. Such qualifications offer targeted training needed for today's workforce.

Unemployed Graduates Rates At Top Business Schools In US

At Stanford Graduate School, 22% remain unemployed due to tech industry slowdown and increased competition, at Wharton School, 20% didn't get the placement and at Kellogg School of Management, 13% remained unemployed.

According to a report by the Economic Times, despite these discouraging trends, Indian students are still applying to these top universities. Students are opting for these courses as a long-term investment to get access to the elite networks.

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