Chicago Booth reported a second straight year of declining median total compensation for its Class of 2025, with median total pay falling to $194,500. Offer rates at graduation were 80.9% (87.8% accepted by three months), reflecting delayed and uneven hiring across consulting, financial services and technology sectors. The report showed consulting and finance still dominate placements but that technology hiring remains below pre‑2022 levels. Base median salary held at $175,000 while sign‑on bonuses and their incidence declined. The school documented a slow‑burn job market where many graduates secure offers only after extended searches. Why it matters: outcome pressure on elite business schools may intensify recruitment and career‑services strategies, affect yield and shape messaging for prospective students. Graduate programs and alumni networks should prepare for protracted placement timelines and shifting employer demand driven by AI and sectoral caution.