New data and reporting on 2025 MBA classes reveal a softer employment market and uneven outcomes across top programs. Poets&Quants’ analysis of class profiles and employment reports deep‑dives into who gets accepted and where graduates land jobs, while Chicago Booth’s Class of 2025 reported a second straight year of lower median total compensation. Booth’s employment report shows an 80.9% offer rate at graduation (rising to 89.1% by three months post‑graduation) and median total compensation that slipped to $194,500. Consulting and financial services remain the dominant outcomes, with technology roles lagging. Poets&Quants’ broader profiles underline competitive applicant pools and shifting employer demand. Business schools and career services should brace for prolonged recruiting cycles and continue to strengthen employer ties, sector diversification, and narratives that help applicants differentiate in crowded pipelines.