A Harvard Enterprise Faculty commencement. HBS is the second MBA jobs report we’ve seen this season. Whereas an enchancment over final 12 months’s numbers for HBS grads, it’s too early to identify broad hiring tendencies throughout colleges. Harvard Crimson photograph
Whole pay for Harvard Enterprise Faculty MBAs graduating in 2025 rose 5.4% on common after two years of stagnation, a noticeable shiny spot within the college’s newest employment report. Median complete compensation was $232,800, up $11,000 from the earlier class, when factoring in signing and efficiency bonuses.
A not so shiny spot? Employment of job-seeking candidates, whereas up, nonetheless lags earlier highs by 5 share factors.
Harvard is simply the second main MBA jobs report we’ve reported on for 2025, so it’s nonetheless too early to establish broad MBA hiring tendencies throughout colleges. College of Virginia Darden Faculty of Enterprise reported sluggish job gives and acceptances inside three months of commencement, although each colleges famous that provides at six months have been up.
“Amid a shifting job market, employment charges for the HBS Class of 2025 present constructive momentum,” MBA Admissions and Monetary Help Director Rupal Gadhia wrote in a weblog publish. “Ninety % of scholars searching for employment had obtained a proposal three months after commencement, a quantity that’s nearer to 94 % now.”
Class of 2025
65%
90%
84%
35%
0%
Class of 2024
70%
85%
77%
30%
0%
Class of 2023
73%
86%
80%
27%
0%
Class of 2022
71%
95%
90%
29%
0%
Class of 2021
74%
96%
92%
23%
2%
Supply: Harvard Enterprise Faculty
For 2025, HBS reviews that 65% of its 925 graduates sought employment, the bottom share in 5 years. Of these, 90% obtained a job supply inside three months and 84% accepted.
That’s a marked enchancment from the earlier two courses the place about 85% of job searching for candidates got gives, and simply over 1 / 4 had accepted in 2024. However, it’s nonetheless six factors decrease than HBS’ seven-year excessive of 96% for the pandemic class of 2021.
Harvard’s job charge can also be on par with Darden’s which reported that 90.2% of Darden MBAs obtained a job supply and 89.3% accepted one inside three months of commencement. Six months after commencement, Darden’s MBA gives and acceptances have risen to 95%.
“(Darden’s) Profession Providers crew factors to this metric as a sign of the continued change out there for MBAs. It’s taking a bit longer than in prior years for employers to make hires, and a bit longer for college students to just accept jobs. This displays each the market and the preferences of scholars,” a Darden spokesperson wrote to P&Q.
“Extra of them are taking time and searching for careers post-MBA in areas which are outdoors of the normal areas of consulting and banking. We’re seeing, for instance, rising curiosity in Entrepreneurship By means of Acquisition paths amongst college students.”
Each employment reviews from Harvard and Darden tracked information for 100% of its graduates, an essential distinction provided that some colleges exclude “no current data” instances, which might artificially increase employment percentages.
Curiosity in entrepreneurship additionally shot up for 2025 MBAs at Harvard, already an MBA startup powerhouse. The varsity constantly reviews among the many highest variety of MBA founders on our annual checklist of the 100 highest funded startups. Some 17% of 2025 graduates began their very own companies and 17% joined a startup inside three months of commencement.
HBS’s 17% be part of charge reinforces its repute as one of many prime feeders into early-stage corporations. The varsity defines startups as personal corporations 10 years previous or youthful. Most startup-bound graduates continued to cluster in expertise. Seventy % of startup hires went into tech, adopted by smaller shares in well being care and manufacturing, every at 11%.
HBS additionally stays one of many strongest colleges on this planet for aspiring founders. The Class of 2025 produced 155 new founders with a majority (61%) launching ventures with a cofounder, and greater than a 3rd met that particular person at HBS. Sixty-two of those new corporations self-identified as having a social influence mission.
College students additionally continued to make use of their two years at HBS as a launchpad for brand spanking new concepts. Whereas 31% arrived on campus already planning to start out a enterprise, many extra made the choice throughout this system.
WHERE HARVARD MBAs GO TO WORK
Of the 35% of HBS graduates not in search of full-time jobs, 17% began their very own companies, 14% have been firm sponsored or already employed, 1% have been persevering with their schooling, and a pair of% weren’t in search of unspecified causes.
For people who did search and land jobs, finance, tech, and consulting remained the three most most well-liked industries. Tech even overtook consulting for the second highest profession alternative, rising to 22% – that’s six share factors greater than 2024.
Consulting, in the meantime, gained again some floor after falling seven share factors from 2023 to 2024.
Different industries drew smaller shares of the category. Well being care accounted for six% of hires, manufacturing for five%, and nonprofit or authorities roles for 4%.
Ninety-two % of job-seeking grads accepted roles in the USA and almost half (48%) stayed within the Northeast. The West grew as a vacation spot, drawing 24% of employed MBAs. Solely 8% went overseas with Asia (3%) and Europe (2%) the commonest locations. As compared, 12% of the Class of 2024 graduates labored outdoors the U.S.
As famous, pay for Harvard MBAs continued its regular climb in 2025, setting data for complete median compensation. The Class of 2025 posted a $184,500 median base wage, a soar of almost $10,000 from final 12 months. When including in bonuses, complete median compensation rose to $232,800, up from $221,800 for the Class of 2024.
Signing bonuses held regular at $30,000, a degree that has not modified since 2017. However barely extra college students obtained them this 12 months: 58% in comparison with 53% for the earlier class. In the meantime, 67% of graduates reported a median efficiency bonus of $46,100.
The longer view exhibits how sharply HBS pay has risen since earlier than the pandemic. Base salaries have climbed almost $50,000 since 2017, when the median was $135,000. Whole median compensation grew even quicker, up from $174,300 in 2017 to this 12 months’s $232,800, a rise of greater than $58,000 in eight graduating courses.
Know-how
22%
$178K
$160K – $200K
$30K
46%
$33K
42%
Consulting
21%
$190K
$190K – $192K
$30K
91%
$40K
91%
Non-public Fairness
14%
$188K
$175K – $200K
$30K
41%
$150K
87%
Funding Administration / Hedge Funds
7%
$183K
$175K – $206K
$50K
71%
$85K
50%
Well being Care
6%
$160K
$150K – $185K
$30K
59%
$25K
66%
Funding Banking
6%
$175K
$175K – $175K
$50K
90%
$83K
76%
Manufacturing
5%
$162K
$154K – $175K
$15K
54%
$21K
58%
Enterprise Capital
4%
$200K
$181K – $250K
$30K
33%
$50K
61%
Nonprofit / Authorities
4%
$130K
$130K – $140K
N/A
—
N/A
—
Providers
3%
$140K
$100K – $150K
N/A
—
$75K
54%
Leisure / Media
3%
$180K
$130K – $210K
N/A
—
$21K
69%
Different Monetary Providers
3%
$192K
$180K – $200K
$35K
56%
$44K
88%
Client Merchandise
2%
$146K
$126K – $164K
$33K
60%
$20K
100%
Retail
<1%
N/A
N/A
N/A
—
N/A
—
All Industries (Total)
100%
$185K
$160K – $192K
$30K
58%
$46K
67%
Supply: Harvard Enterprise Faculty
By business, consulting remained probably the most profitable paths for a lot of MBAs with a median base wage of $190,000. It additionally had a number of the highest bonus charges within the class: 91% of consultants obtained each a signing bonus and a efficiency bonus. Tech salaries have been additionally robust with most gives falling between $160,000 and $200,000.
Non-public fairness attracted 14% of graduates and delivered essentially the most dramatic bonus payouts, with a median efficiency bonus of $150,000 with 87% of PE hires receiving it. That’s on prime of a median beginning wage of $188,000.
