In the hallowed halls of Harvard University, an unexpected tremor is shaking the foundations. But forget presidential resignations for a minute – the MBA program is also under the microscope.
While 86% of recent graduates snagged jobs within 90 days, that pales next to the 95% and 96% rates of the past two years.
This is the lowest figure in over half a decade, and in a world where employers’ mantra is “do more with less”, this decline might just be the beginning.
We already have a bunch of innovative online programs and specialized bootcamps offering quicker, cheaper alternatives. Is the MBA, once a golden ticket to career glory, losing its shine?
Can it even survive in its current form, given the years of sacrifice and hefty tuition fees for a job market offering diminishing returns?
I’m placing two bets:
1. The top 10-20 schools will be more than fine, while the mid-level gets clobbered (as often happens in life…)
2. Innovation won’t come from rebuilding the MBA like-for-like. Instead, individual components will be completely reimagined for today’s world of personal brands, social impact, and indie entrepreneurship. These will feel less like education programs, and more like community-driven games and quests.
As you may have guessed by now, I'm currently building something to back up these bets... more soon ;)