Peter F. Drucker on Economic Threats

CHAPTER TWENTY-NINE

Baby-Boom Problems

THERE HAVE BEEN REPORTS recently that several management consulting firms are offering starting salaries of up to $60,000 a year to top MBA graduates of prestige business schools. Pity the suckers who swallow such bait. Five years hence many are quite likely to find themselves frustrated, defeated, and embittered. And they may then be lucky to find a $30,000 job by way of promotion.

Fancy starting salaries may be tempting to the young graduate and seem like a good way for the firm to gain attention for itself. They may even be justified in some cases. But more than ever the job applicant and the employer ...