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.
像许多学生一样，斯蒂夫•温德维特(Steve Vonderweidt)曾憧憬MBA学位能为自己打开通往高薪职位的大门。
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.
但如今，在获得路易斯维尔大学(University of Louisville)MBA学位八个月后，36岁的温德维特却连一份私营经济领域的工作都没有找到。他继续在一家社会服务机构做着行政管理工作，这家机构旨在帮助路易斯维尔的居民获取食品券、医保服务和其他一些救助。温德维特现在身负75,000美元的学生贷款债务，其中大部分都是在他读MBA期间欠下的。
'It was a really great program, ' says Mr. Vonderweidt. 'But the job part has been atrocious.'
温德维特说：“MBA确实是个非常好的项目。但在就业方面，形势残酷。”
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.
大幅上涨的学费、疲软的就业市场以及像温德维特这类供过于求的应届毕业生正在动摇着这样一个说法：像MBA这样的专业学位就是稳稳当当的赚钱敲门砖。
The M.B.A.'s lot is partly reflected in starting pay. While available figures vary by schools and employers, recruiters' expected median salary for newly hired M.B.A.s was essentially flat between 2008 and 2011, not adjusting for inflation, according to a survey by the Graduate Management Admission Council.
MBA毕业生的起薪在一定程度上反映了MBA项目的境况。美国管理专业研究生入学考试委员会(Graduate Management Admission Council)的一项调查显示，虽然可用数据会因为学校和雇主的不同而有所变化，但对于新入职的MBA员工，招聘方的预期薪酬中值在2008年至2011年间基本持平，并未因通胀因素而调整。
For graduates with minimal experience─three years or less─median pay was $53, 900 in 2012, down 4.6% from 2007-08, according to an analysis conducted for The Wall Street Journal by PayScale.com. Pay fell at 62% of the 186 schools examined.
美国在线薪酬数据机构PayScale.com为《华尔街日报》(The Wall Street Journal)进行的一项分析显示，对于那些经验匮乏──即工作刚满三年或少于三年──的MBA毕业生而言，2012年他们的薪酬中值为53,900美元，比2007年至2008年间下跌了4.6%。在参与调查的186所商学院的MBA毕业生中，62%的人都遭遇了减薪。
Even for more seasoned grads the trend is similar, says Katie Bardaro, lead economist for PayScale.com. 'In general, it seems that M.B.A. pay is either stagnant or falling, ' she says.
就算是那些工作经验丰富的MBA毕业生也面临着相似的窘境。PayScale.com的首席经济学家凯蒂•巴达罗(Katie Bardaro)说：“总体而言，MBA毕业生的薪资水平看起来要么是停滞不前，要么是正在下滑。”
The pressures are greatest for those attending less prestigious schools, says Stanford Business School professor Paul Oyer, who studies personnel trends. But even at top programs, some graduates are likely to struggle in today's environment, he says.
研究人事动向的斯坦福商学院(Stanford Business School)教授保罗•奥耶(Paul Oyer)说，压力最大的是那些在不怎么知名的学校就读的学生。但即使是顶尖名校的毕业生，也有一些人在现今的大环境中蹒跚前行。
Another burdensome issue: a high debt load. Nearly 60% of graduating M.B.A.s said they expected to repay some loans after graduation, according to a 2012 GMAC survey. Among households headed by people with student debt who attended graduate school and are under 35, average student loan debt climbed to $81, 758 in 2010 according a Wall Street Journal analysis of Federal Reserve data. That figure is up from $55, 594 in 2007.
另一个恼人的问题是高额的债务负担。美国管理专业研究生入学考试委员会2012年的一项调查显示，近60%的MBA毕业生称，他们预计将在毕业后偿还部分贷款。而《华尔街日报》对美联储数据的分析表明，一些身负学生贷款、曾在研究生院就读而年龄在35岁以下的人如今又扛起了家庭的重担，这些家庭的平均学生贷款从2007年的55,594美元攀升至2010年的81,758美元。
It is all a far cry from the late 1980s and early 1990s heyday for M.B.A.s, when some companies would hire 100 or more M.B.A.s. It wasn't uncommon to recruit first, and fill actual jobs later.
与20世纪80年代晚期至90年代早期的MBA全盛时期相比，现在的形势相差甚远。那个时候，一些公司会聘用100名甚至更多的MBA毕业生。他们常常会先将MBA生招进来，之后再给其分配具体的工作。
'Some of those companies would hire today barely in the single-digits, ' says Mark Peterson, president of the M.B.A. Career Services Council.
MBA职业服务委员会(M.B.A. Career Services Council)会长马克•彼得森(Mark Peterson)说：“有些公司如今愿意招聘的MBA人才可能仅剩个位数了。”
A weak economic climate is only partly to blame for the M.B.A.'s plight. The changing nature of B-school programs, evolving corporate needs─as well as the perceived value of the degree─have all helped dilute the M.B.A.'s allure.
疲弱的经济环境只是MBA困境形成的原因之一。商学院项目性质的变化，企业需求的演变，加上公众对MBA学位的认知价值也在发生改变，所有这些都令MBA的吸引力消退。
Formerly, the traditional M.B.A. was mainly the product of a full-time, two-year program. But beginning in the early 1990s, many schools created part-time and executive M.B.A. programs, with lower-ranked schools often following in the footsteps of academic leaders. Online degrees also gained in popularity.
之前，传统意义上的MBA主要是全脱产、两年学制的项目。但自20世纪90年代早期之后，许多学校便开办不脱产和高层管理人员工商管理硕士项目(EMBA)，一些排名较低的学校也跟风办学。远程学历教育也受到追捧。
As a result, the number of M.B.A. degrees granted has grown faster than the population, says Brooks Holtom, a management professor at Georgetown University's McDonough School of Business.
乔治敦大学麦克多诺商学院(Georgetown University's McDonough School of Business)的管理学教授布鲁克斯•霍尔顿(Brooks Holtom)说，结果就是，MBA学位授予数量的增速比人口增长速度还快。
'An M.B.A. is a club that is now not exclusive, ' he says. 'You should not assume that this less exclusive club is going to confer the same benefits.'
他说：“MBA课堂是一个俱乐部，但它现在已不再那么排外。所以你不该奢望这个门槛变低的俱乐部将令你收获与从前一样多的好处。”
Today's global corporate culture amplifies the competition. 'We are trying to internationalize our business like everyone else, ' says Lee Ashton, director of international human resources at spirits maker Brown-Forman Corp. With 58% of its business outside the U.S., the Louisville company has stepped up recruiting of M.B.A.s from abroad.
如今全球化的企业文化使得竞争进一步加剧。制酒企业布朗-福曼公司(Brown-Forman Corp.)国际人力资源部负责人阿什顿•李(Lee Ashton)说：“我们也跟别的公司一样，正试着将公司的业务国际化。”布朗-福曼有58%的业务都在美国境外，这家总部位于路易斯维尔(Louisville)的公司已加速了在国外招聘MBA人才的步伐。
U.S. schools granted a record 126, 214 masters degrees in business and administration in the 2010-2011 academic year, a 74% jump from 2000-2001, according to the Department of Education. The M.B.A. march is part of an overall boom in advanced degrees that took on added steam as some recent college graduates and others sought refuge from the recession by pursuing advanced degrees. Tuition and fees for full-time M.B.A. programs has risen 24% over the past three years, according to the main body that accredits U.S. business schools.
美国教育部(Department of Education)的数据显示，2010至2011学年间，美国高校工商管理硕士学位的授予数量达到创纪录的126,214个，比2000至2001学年暴涨了74%。随着一些刚毕业的大学生和其他民众通过攻读高学位以躲避经济衰退的影响，MBA也成了高等学位风靡时期的一波热潮。据认证全美商学院的教育部称，全脱产MBA项目的学杂费在过去三年间已上涨了24%。
It is unclear how many M.B.A.s the market really needs. Recently, more companies have indicated that 'they are moving away from an emphasis on M.B.A.s' and are instead hiring more undergraduates at lower salaries that they can then train in-house, says Camille Kelly, vice president of employer branding at Universum, a firm that advises companies on how to attract and retain the best employees. Companies, she says, 'still will do M.B.A. hiring, but it won't be to the same extent they have in the past.'
目前还不清楚市场到底需要多少MBA人才。近来，越来越多的公司已表明“他们正将招聘重点从MBA领域撤离”，转而用更低廉的工资雇佣更多的本科生，以后再对他们进行公司内部培训。旨在帮助企业招聘精英、留住最佳员工的专业机构优信咨询(Universum)负责雇主品牌业务的副总裁卡米尔•凯利(Camille Kelly)说：“公司还是会雇佣MBA专业领域的人才，但在招聘规模上不会和从前一样。”
United Parcel Service Inc., UPS +0.25% which has a hub in Louisville, puts more emphasis on M.B.A.s and other grad-school types than it did five years ago. Still, know-how trumps all. 'We're always going to look at the work experience first and how has that been enhanced through any advanced degree, ' says spokeswoman Susan Rosenberg.
与五年前相比，在路易斯维尔设有一处中转中心的联合包裹运送服务公司(United Parcel Service, UPS) 现在就将招聘重点更多地放在了MBA和其他类型的研究院毕业生身上。不过，专业技能仍然胜过一切。UPS的发言人苏珊•罗森堡(Susan Rosenberg)说：“我们总会首先考虑应聘者的工作经验以及他们如何通过攻读高学位提升了工作经验。”
The University of Louisville illustrates how some M.B.A. programs have struggled to remain attractive, and relevant, in this rocky environment.
在现今不景气的大环境下，一些MBA项目竭力维持生源、保持自身存在的意义，路易斯维尔大学商学院便是一个实例。
R. Charles Moyer, dean of the College of Business, was recruited away from Wake Forest University in 2005 with a mandate to ramp up the Louisville M.B.A. program. Ten local business leaders had pledged to kick in roughly $10, 000 each for five years toward his $350, 000 paycheck.
路易斯维尔大学商学院院长R.查尔斯•莫耶(R. Charles Moyer)是2005年从维克森林大学(Wake Forest University)调聘过来的，受命推进路易斯维尔大学的MBA项目。当地的十位商业领袖承诺每人捐款约10,000美元，捐款期为五年，用于支付莫耶的350,000美元薪酬。
Louisville 'was growing at that time, ' recalls C. Edward Glasscock, a local attorney who helped spearhead the fundraising effort. 'We had to make sure we had graduates to fill the workforce need.'
参与推进了早期筹款工作的当地律师C.爱德华•格拉斯卡克(C. Edward Glasscock)回忆道，路易斯维尔“就是在那个时候崛起的。我们得确保有毕业生来满足劳动力市场的需求。”
Mr. Moyer tightened admission standards. Also, in 2007, he revamped the school's existing part-time M.B.A. program, made up of students who were pursuing degrees while working. Under the new program, groups of students moved together through classes over a two-year period, which was later shortened to 20 months.
2007年，莫耶提高了入学门槛。在同一年，他又调整了学校原有的不脱产MBA项目，这一项目的授课对象是那些一边攻读学位一边工作的学生。调整之后，项目为期两年，学生们分为多个小组一起上不同的课程，后来该项目又缩短至20个月。
He also added faculty, increased course options and introduced Saturday 'enrichment programs' on negotiation skills, ethics and business etiquette. Three years ago, he introduced a full-time M.B.A. aimed at recent college graduates that includes a paid internship with a local employer. Next year, the school will begin another program for students with 12 to 15 years of work experience.
莫耶还扩招了教职工队伍，增加了供选择课程的数目并开设了针对谈判技巧、道德修养及商务礼仪的周六“进修项目”。三年前，他开设了针对新毕业大学生的全脱产MBA课程，该项目还包括一个由当地雇主提供的带薪实习机会。在接下来的一年里，路易斯维尔大学将开办另外一个项目，目标人群是拥有12至15年工作经验的学生。
Mr. Moyer acknowledges that the growth in offerings was driven in part by a desire to boost revenues. 'When I get a budget cut, I think about starting a new program, ' he says. 'If we can do it really well and generate a lot of money, we can pour it back into our core business, which is undergraduate education.'
莫耶承认，不断创办这些项目的部分原因是为了提高收入。“当要削减预算的时候，我就思量开办一个新项目。如果我们能将这个项目做好并赚得一大笔钱，我们就能将这些所得再投入到本科教育这个核心业务中去。”
Louisville now offers full- and part-time M.B.A.s as well as a highly regarded entrepreneurship program that in total enroll roughly 250 students─roughly a 10% increase since Mr. Moyer's arrival. With total tuition of $32, 000, a Louisville M.B.A. is still a relative bargain. But the price tag has more than doubled under Mr. Moyer's tenure. Revenues from the M.B.A. programs have increased by more than 250%.
目前，路易斯维尔大学除了设有全脱产和不脱产的MBA课程，还有一个获得高度评价的创业项目。该项目共招收了约250名学生──自从莫耶来到路易斯维尔大学任教后，这一数字增长了约10%。路易斯维尔MBA的学费总计为32,000美元，仍算相对低廉。但学费在莫耶的任期内已涨了两倍多，MBA项目的收益增长也超过了250%。
The dean says an M.B.A. degree remains a 'terrific investment, ' though the returns might not be evident for 'a year or two.'
莫耶认为攻读MBA学位仍然是一项“绝佳的投资”，尽管在“一两年”内回报可能不太明显。
Indeed, some of the same companies that supported the Louisville M.B.A. program stress that experience, not the degree alone, opens the door to jobs.
的确，一些资助了路易斯维尔大学MBA项目的公司也强调称，仅靠一纸文凭不行，经验才是工作的敲门砖。
Texas Roadhouse Inc., TXRH +3.69% a Louisville-based restaurant chain, donated a $200, 000 student lounge to the B-school and has hired several M.B.A. students as interns and employees. But spokesman Travis Doster says restaurant experience carries more weight than an M.B.A. when the chain fills positions at its corporate office.
总部位于路易斯维尔的餐饮连锁店德州客栈牛排馆(Texas Roadhouse Inc.)就曾向路易斯维尔大学商学院捐建了一处价值200,000美元的学生活动中心，并且聘用了几位MBA学生作为其正式员工和实习生。但公司发言人特拉维斯•达斯特尔(Travis Doster)称，德州客栈牛排馆在为公司总部招人时，餐饮行业相关工作经验比一个MBA学位更有分量。
Nor does an M.B.A. guarantee a pay hike. 'I haven't seen an automatic boost for any degree, ' says Kevin Stakelum, director of talent acquisition for Humana Inc., HUM +1.84% one of Louisville's largest employers. While an M.B.A. can be valuable, particularly in certain positions, 'it's a piece of the entire puzzle.'
MBA学位也不能确保你会加薪。路易斯维尔最大公司之一胡玛纳公司(Humana Inc.)的招聘主管凯文•斯德克鲁姆(Kevin Stakelum)说：“我从未见过任何一个学位会让你自动升值。”虽然MBA学位有它的价值，尤其是对于某些职位而言，“但它终究只是整幅拼图上的一块而已”。
Casting a wider net remains a challenge. 'It's always difficult to get those upper-tier companies to come and recruit, ' says T. Vernon Foster, who oversees career services. 'Once they do, they are always impressed.'
将招聘之网撒得更宽些仍然是一个挑战。路易斯维尔大学负责监管就业服务的T.弗农•福斯特(T. Vernon Foster)说：“总是很难让那些名企来这里招聘。他们一旦来了口便往往会对此留下深刻的印象。 ”
Joshua Sickles, a 2010 graduate of the part-time program, figures his Louisville M.B.A. helped him land a promotion at UPS that added about $15, 000 to his paycheck. 'It was an investment in myself, ' says Mr. Sickles, who borrowed roughly $30, 000 for his degree.
2010年毕业于路易斯维尔商学院不脱产项目的约书亚•席寇斯(Joshua Sickles)认为，他的MBA学位助了他一臂之力，让他在UPS公司顺利升职，这次晋升给他带来了15,000美元的加薪。席寇斯说：“这是一次对自身的投资。”他为了攻读MBA学位负债约30,000美元。
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