Yes, the media reports that the hiring market for MBAs has been picking up. Moreover, the entry-level compensation, including sign-on bonus, is excellent for those with jobs in finance, consulting, and some of high-tech. That said, the situation for new MBAs isn't all rosy.
In BLOOMBERG BUSINESS WEEEK, Mica Bevington outs the "debtors prison" too many MBAs are finding themselves in. As with JDs, the debt from student loans is often close to 6 figures. The average load for MBAs from the top 10 MBA programs was $87,049 last year. Graduates from those schools earn a median of $107,905, quite a bit less than they might have anticipated when taking on debt. Those in the next tier earn a median of about $81,599.
Paying off debt is hard, any time. That's because many of the jobs demand living in a metro area. That's expensive in itself. Usually the new MBA or JD, after putting personal life on hold, will begin thinking about commitment and family. That siphons more money going out. Another problem has always been the fear of being fired. That fear is more intense today.
This article puts up the same red flag that writers about JDs are waving: Think before investing in a professional degree, particularly if you have to take out student loans to attend.