While the route from an MBA to venture capital is still well-trodden, recent PitchBook insights and academic studies suggest this career path is less certain than before.
In 2024, Harvard sent 50 of its 1,004 MBA graduates into venture capital positions, each earning a median starting salary of $177,500. Stanford saw around 30 graduates from its smaller cohort enter similar roles. According to PitchBook, more than 10,000 MBA alumni from Harvard, Stanford, and Wharton are now in senior roles at U.S. venture capital firms.
Still, the influence of the MBA in the venture capital field is waning. According to Stanford professor Ilya Strebulaev, MBAs made up 44% of mid-career venture professionals in the early 2000s, a figure that has dropped to 32% today.
Why is this happening? Venture capital now extends into fields like artificial intelligence and hardware, where technical skills are more valuable than a business degree. As a result, firms are recruiting more talent from tech leaders such as OpenAI and SpaceX, rather than top MBA programs. “The demand for MBAs is not as strong right now,” executive recruiter Will Champagne told PitchBook.
Yet many students still pursue this route; Stanford’s VC club counts 600 members among the approximately 850 MBA students on campus. The cost is significant, too—earning an MBA from an elite school can exceed $200,000.
