Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Street
The Street
Colin Salao

Harvard business grads facing worrisome reality that's affecting everyone

Harvard University has been in the news lately for politically-related reasons, but the top school is facing another reality that's directly affecting its core purpose.

Harvard Business School (HBS) reported that 86% of its graduating class of 2023 has received an offer, which according to the Financial Times (FT), is down from 95% in 2022 and 96% in 2021.

It's important to know that the 86% figure is not pulled from the total number of HBS graduates, but rather just the 73% of the total graduates who are seeking immediate employment upon graduation. The remaining 27% are considering other options such as starting a business or continuing education.

Related: November job growth in the U.S. was limited to just three major sectors

A quarter of the graduates enter into consulting, far and away the biggest industry that HBS graduates turn to for their first work after receiving their MBAs. But the dip in job offers for graduates could relate directly to this adherence to consulting, as there have been several reports, including from the FT, that big consulting firms have pushed back start dates for new hires and slowed down work for their teams.

Harvard's managing director of MBA career and development recognized "this year's slow hiring market," telling the FT that more students explored post-grad internships or alternatives to full-time roles.

Related: How Mark Zuckerberg and Priscilla Chan could be connected to Harvard researcher's firing

The HBS news may seem counterintuitive to the continuing growing job market, but November data showed that their were only a few industries — like health care — that were driving the jobs growth.

 Consulting was not one of them.

Get exclusive access to portfolio managers’ stock picks and proven investing strategies with Real Money Pro. Get started now.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.