Not all degrees are a waste of time: MBA graduates from Harvard, MIT, and Wharton are making over $245,000 just three years after graduating

As the job market has tightened, many Gen Z college graduates have struggled to find stable footing—raising new questions about whether a degree is still worth the time and debt burden.

But for many MBA students, the return on investment still looks hard to beat.

Recent data from Harvard Business School found MBA alumni are raking in median salaries of about $260,000 three years after graduating. At the University of Pennsylvania’s Wharton School, alumni are earning $248,000...