The MBA-to-VC pipeline remains a very real thing, but that path is a little shakier than it once was according to PitchBook reporting and new academic research. Harvard placed 50 of its 1,004 MBA graduates into VC roles in 2024, with a median starting salary of $177,500. Stanford placed around 30 graduates from its smaller class. More than 10,000 Harvard, Stanford, and Wharton MBA alumni currently hold senior positions at U.S. VC firms.
However, the MBA’s grip on venture capital is loosening. According to Stanford professor Ilya Strebulaev, 44% of mid-career venture professionals held MBAs in the early 2000s compared to just 32% today.
What is driving this change? Venture capital has evolved beyond traditional sectors into areas like AI and hardware, where deep technical experience often beats business school credentials. As a result, firms are increasingly scanning for talent from companies like OpenAI and SpaceX rather than elite MBA programs. An executive recruiter confirms there is less appetite for MBAs currently.
Despite this shift, students have not gotten the memo yet. Stanford’s VC club still boasts 600 members out of the roughly 850 MBA students on campus. They are paying a steep price for this path, as nabbing an MBA at a top program can cost more than $200,000.