If you believe that an MBA from a prestigious business school, such as Harvard, will guarantee you a good job, you might be mistaken. In today’s automation and AI-driven post-pandemic landscape, organizations are prioritizing candidates with specific, specialized technical skills. As a result, those with generalist skills are not in high demand, even if they hold an MBA from a renowned institution.
According to Harvard Business School’s website, the employment data for the class of 2024 reveals that 70 percent of students actively sought employment, and 85 percent received job offers. However, only 77 percent of these offers were accepted, indicating that a significant 30 percent of students did not pursue job opportunities. Among them, 14 percent chose to focus on entrepreneurship, while 13 percent were already employed or sponsored by companies. Additionally, 1 percent postponed their job search, and 3 percent were unable to secure jobs for various reasons.
The situation has deteriorated recently. Media reports indicate that only about 10 percent of spring MBA graduates from Harvard were unemployed three months after graduation in 2022. Now, that figure has surged to an alarming 23 percent. This marks the first time in over a decade that so many MBA graduates remain jobless after completing their degrees.
Moreover, unemployment is not an issue exclusive to Harvard graduates; students from various other reputable institutions are also struggling to find suitable employment.
The unemployment rate in the U.S. rose to 4.2 percent in November 2024, up from 4.1 percent in October 2024. The number of unemployed individuals increased by 161,000 to reach 7.145 million, while employment declined by 355,000 to 161.141 million.
In summary, finding jobs is becoming increasingly challenging in the U.S., even for graduates from elite business schools.
