Any drop-off in corporate demand for M.B.A.s is startling for students who applied to graduate school in 2021 and 2022 during a white-collar hiring spree with swelling salaries to match. Since then, the three main sectors that hire M.B.A.s at top schools have hit turbulence. Tech giants made big job cuts, consulting firms put start dates on hold and deal making slowed in finance.
During the fall, M.B.A. candidates normally lock in jobs for postgraduation the following spring, but that is happening less this year, students and career-guidance offices say. Schools are encouraging students to be patient and have a Plan B in mind.