MBA programs are slashing prices and graduates are struggling to find jobs, which is bad news for elite business schools but reflects a real shift in how companies hire and train talent.

• Top schools like Purdue, UC Irvine, and Johns Hopkins are cutting MBA tuition by 38% to 50% to fill seats.
• Big employers like Google, Amazon, Apple, and McKinsey have cut back hard on hiring MBA grads.
• 20% of Harvard's 2023 MBA grads were still job hunting three months after graduation, up from 8% in 2021. Duke is at 21%, Michigan at 15%.
• Tuition costs spiraled because easy student loans removed any pressure on schools to keep prices in check.
• Companies will likely start running their own internal MBA-style training, taught by working executives instead of academic professors.

Outlook: Expect more discounts and shrinking enrollment at business schools as companies pull training in-house and the value of a traditional MBA keeps fading.