Tech has displaced consulting and finance as the preferred career path for top-tier college students, Forbes reports, making entrepreneurship more valuable than an MBA.
Rather than a fancy degree, Silicon Valley titans say hard work, the right skillset and cultural fit are better predictors of success at a startup. Twentysomethings seem to be taking note: For the fourth year in a row, applications to U.S. business schools are down, and some of the biggest MBA programs have closed their doors entirely.
“As a founder, you’re faced with limited time and resources, and you have to make difficult decisions that impact real people,” Yunha Kim, founder and CEO of Simple Habit, told Forbes. “This is something you can’t learn in business school.”
The shift toward entrepreneurship is happening at a time when, according to a recent Gallup poll, 77% of students in grades 5 through 12 want to be their own boss, 45% want to start their own business and 42% want to invent something that changes the world.