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Only 1% of Recent Job Listings on Monster Require an MBA

University Of Birmingham Hold Degree CongregationsUniversity Of Birmingham Hold Degree Congregations

One percent: that’s the share of new jobs listed on Monster that require or recommend applicants have an MBA, down about 50% from both last year and the average since 2012, according to data provided to ­Fortune. The degree’s anemic showing jibes with warnings from tech titans Peter Thiel, Sheryl Sandberg, and Elon Musk, who say MBAs aren’t necessary to succeed—even as schools beef up their tech and entrepreneurship offerings. To be sure, “education is still incredibly important,” says DHI Group CEO Mike Durney, but it’s specialized skills that matter more than ever.

A version of this article appears in the July 1, 2016 issue of Fortune with the headline “Whither the MBA?”