Business: Bull Market for M.B.A.s

Business-school graduates of the class of 1973 are opening their first pay envelopes about now, and thanks to a bull market for Masters of Business Administration, the checks are plumper than ever. Graduates of such elite schools as Harvard, Stanford or Pennsylvania's Wharton start out at an annual average of close to $17,000, up $1,000 or more from last year. The number of companies actively recruiting has increased nearly 15% since 1972. At Harvard, 861 recruiters showed up to vie for 777 graduates. The school collected the students' resumes in a book and sold it for $75 a copy.

To the graduates,...

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