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USA News: Donald Trump will take oath as the new President of the country after a few days in America. With this their examination will also begin. Providing good employment to the youth will be a big challenge.
Students passing out from prestigious universities of America are struggling to get jobs.
Washington. Donald Trump will take charge of the country in America after a few days. President Joe Biden’s tenure will end. There will be many challenges before Trump, but providing respectable employment opportunities to the youth will be a big challenge. It remains to be seen how Trump deals with these challenges. A report has revealed that the youth who have obtained MBA degree from prestigious universities like Harvard, Stanford, Wharton are facing many hurdles to get a good job. They are not able to get a good job immediately. This is the biggest problem and challenge facing the youth of America.
The once guaranteed prestige of having an MBA from prestigious institutions like Harvard, Stanford or Wharton is no longer a sure guarantee of high-paying jobs. Even the most prestigious degrees are facing challenges with the changing job market. According to reports, many students who have recently graduated from these top-tier programs are struggling to find employment, which paints a clear picture of the current economic scenario. According to a Wall Street Journal report, 23 percent of Harvard Business School (HBS) MBA graduates of the year 2024 were still looking for a job three months after graduation. This is a sharp increase from 20 percent in 2023 and 10 percent in 2022.
What is the reason?
Kristen Fitzpatrick, Harvard’s head of career development, told the WSJ that we are not immune to the difficulties of the job market. Going to Harvard is no longer an identity. You must have skills. This trend is not limited to Harvard, other prestigious institutions like Stanford, Wharton and NYU Stern are also facing the weakest job placement statistics. Northwestern University’s Kellogg School of Management, for example, reported that 13 percent of its Class of 2024 MBA graduates were still unemployed three months after graduation, a significant increase from last year.
job market situation
There can be many reasons for the decline in the job market. After the pandemic, companies aggressively looked toward efficiency, rethinking organizational structures and prioritizing smaller teams. This has increased the demand for candidates with specialized technical skills as compared to general MBA graduates. Additionally, sectors such as technology and consulting, which were traditionally dominated by MBAs, have seen significant reductions in recruitment. Companies like Amazon, Microsoft and Google have cut back on hiring, while consulting giants like McKinsey have reduced their MBA intake. For example, McKinsey recruited only 33 MBAs from the University of Chicago’s Booth School in 2024, compared to 71 last year. Companies are telling us that we are not coming to campus anymore. Jenny Zenner, senior director of UVA Darden’s Career Center, told this to WSJ.
The era of AI and automation
The rise of artificial intelligence and automation has further complicated the scenario, leading to layoffs and job terminations across industries. Employers are increasingly valuing alternative education pathways, such as coding bootcamps and specialized certifications, which often better match the demands of the modern workforce. The job market has disappointed many MBA graduates. For example, Ronil Diora, a graduate of the University of Virginia Darden School, shared that he applied to more than 1,000 jobs while attending networking events in San Francisco. In return he got the answer – Ask me after two years.
innovative idea
To face these challenges, some business schools are presenting innovative solutions. Harvard, for example, is testing an AI tool that matches job seekers with potential roles and recommends courses to bridge the skills gap. This AI-driven approach aims to help students adapt to the changing demands of the job market. However, despite the obstacles, MBA graduates still have high earning potential. Starting salaries often exceed $175,000, and some schools, like Columbia Business School, have reported better employment rates than last year through the 2024 winter session.
disappointed in youth
Graduates are lowering their expectations and exploring non-traditional career paths. As one anonymous HBS student told Forbes, most of his friends lowered their expectations. He noted that HBS students generally come from wealthy families and backgrounds that can tolerate a few months of unemployment. The message is clear – success in today’s job market requires a blend of technical skills, emotional intelligence and flexibility. As companies prioritize smaller operations and specialized expertise, the traditional MBA journey must evolve to align with these new realities.
New Delhi,Delhi
January 16, 2025, 10:47 PM IST
Even those who did MBA from Harvard-Stanford are in trouble, losing their jobs.