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Sun Jan 13, 2013, 12:12 AM

USA Social Mobility = Get higher education = In debt forever [View all]

For Newly Minted M.B.A.s, a Smaller Paycheck Awaits

Like many students, Steve Vonderweidt hoped that a master's degree in business administration would open doors to a new job with a higher paycheck.

Soaring tuition costs, a weak labor market and a glut of recent graduates are upending the notion that M.B.A.s and other professional degrees are a sure ticket to financial success. WSJ's Ruth Simon reports on the News Hub. Photo: AP Images.

But now, about eight months after receiving his M.B.A. from the University of Louisville, Mr. Vonderweidt, 36 years old, hasn't been able to find a job in the private sector, and continues to work as an administrator at a social-service agency that helps Louisville residents obtain food stamps, health care and other assistance. He is saddled with about $75,000 in student-loan debt—much of it from graduate school.

"It was a really great program," says Mr. Vonderweidt. "But the job part has been atrocious."

Soaring tuition costs, a weak labor market and a glut of recent graduates such as Mr. Vonderweidt are upending the notion that professional degrees like M.B.A.s are a sure ticket to financial success.

http://online.wsj.com/article/SB10001424127887324296604578175764143141622.html?mod=e2tw

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Reply USA Social Mobility = Get higher education = In debt forever [View all]
MindMover Jan 2013 OP
TheMightyFavog Jan 2013 #1
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MindMover Jan 2013 #24