23% of graduates in the spring term of 2024 were still job-hunting three months after graduation, up from just 10% in 2022, according to the Wall Street Journal.
Kristen Fitzpatrick, who leads career development and alumni relations at HBS, said that “You have to have the skills,” pointing out that even elite schools like Harvard are not immune to the economic realities that affect job placement.
Harvard is ranked third globally, according to the World University Rankings 2025 by Times Higher Education. It is also ranked third among national universities in the U.S., according to U.S. News and World Report
The issue job challenge is not isolated to its graduates.
Graduates from other top business schools, including the Wharton School at the University of Pennsylvania, another Ivy League school, and the Stanford Graduate School of Business, are also facing prolonged job searches.
Despite a generally strong U.S. job market, many MBA graduates are finding it harder to land positions in their field.
In December 2024, the U.S. economy added 256,000 new jobs, but only 28,000 were in professional services and just 13,000 in the financial services sector, according to the Bureau of Labor Statistics.
Forbes cited several factors contributing to the employment challenges faced by MBA graduates, including the rise of automation, the shift to remote work post-pandemic, and employers increasingly prioritizing specialized skills like programming over general business knowledge.
In response, Harvard is experimenting with AI tools designed to compare jobseekers’ profiles with roles, and recommend online courses to help them develop relevant skills. The business school is also offering specialized classes focused on soft skills such as communication to better prepare graduates for the evolving job market.
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