A new study from the University of Warwick reveals that business schools may be reinforcing economic inequality by pushing the myth of meritocracy. The research challenges the idea that hard work and talent lead to equal opportunities and rewards, showing that this belief is built into business education, even if it’s rarely stated outright.
Business schools don’t openly preach meritocracy, but the message is everywhere, the study claims. Through success stories, case studies, and guest speakers, students absorb the idea that those who rise to the top do so through their own hard work and talent. “It’s a continuation of what students learn early in life—if you work hard, you’ll succeed,” says researcher Eisenman. “But this notion is even stronger in business school, where stories about wealthy, powerful people make it seem like they deserve their success because of their effort and abilities.”
The paper highlights three main pillars of the meritocracy myth: equal opportunity, individual competition, and personal responsibility. The belief is that anyone, no matter their background, can succeed through competition and by taking charge of their own success. But the study argues this is an oversimplification.
Equal opportunity
Take equal opportunity, for instance. Someone born in a poor village clearly doesn’t have the same chances as someone from a wealthy family in a major city. Yet business schools often teach as if everyone in the classroom has the same shot at success, simply because they take the same tests and receive the same material. Similarly, the idea of individual competition assumes everyone can succeed based solely on merit, without acknowledging the obstacles that some people face. Finally, personal responsibility suggests that if someone doesn’t succeed, it’s because they didn’t try hard enough—ignoring the structural biases and social barriers that can hold people back.
This myth plays out in different ways for students. For those from disadvantaged backgrounds, it can lead to “cruel optimism”—the belief that hard work will pay off, even when the deck is stacked against them. When they don’t succeed, they often blame themselves, unaware of the systemic barriers they face. On the other hand, students from privileged backgrounds often experience the “ease of privilege.” Their success reinforces the belief that they earned everything through hard work, without recognizing the advantages they started with.
The study urges business schools to encourage students to think critically about these assumptions. “We want graduates to question who defines merit and what influences success,” the researchers say. Without this critical approach, business schools may continue to produce leaders who overlook the inequalities in the system.
In a world of growing inequality, the researchers conclude, it’s more important than ever for business schools to teach students to see beyond the myth of meritocracy. Only then can future leaders work to create a more fair and equitable economy.
