Elite business-school graduates are increasingly heading to work in technology over finance as the lingering aftereffects of the financial crisis—along with Wall Street’s long hours and scaled-back pay—sends newly minted M.B.A.s elsewhere.
At Harvard Business School, 18% of job-seeking students landed tech-sector spots this year, up from 12% in 2012. A similar shift is under way at the business schools at Yale University and Cornell University, where the share of graduates going into tech more than doubled over the past two years.
Meanwhile, just 27% of Harvard Business School graduates took jobs in finance this year, down from 35% last year. That figure dropped to 16% from 27% at the MIT Sloan School of Management.
And at Stanford Graduate School of Business, historically a haven for digitally minded graduates, tech companies overtook financial services for the first time this year, with 32% of the class accepting tech jobs and just 26% heading into finance. Two years ago, those figures were 13% and 36%, respectively.