Panic, Depression, and Settling for Second-Choice Jobs

This year's business-school graduates wish the '90s had never ended

On a warm spring day at the University of Virginia's Darden Graduate School of Business Administration, dozens of M.B.A. students gather for coffee in the lobby of Saunders Hall, a cheerful room where countless recruiters have courted students over the years.

A few years ago at this time, they would have been swapping stories of multiple job offers and huge signing bonuses; this year, the talk is of waiting and uncertainty.

Even here at one of the nation's top business

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