Using the four waves, we construct hourly wages corresponding to the individual’s job at the time of response to the survey indexed to the monthly level, spanning the years 1990 to 1998. 16 We only include wages for full-time jobs (at least 35 hours a week). As shown in Table 2, the variation in enrollment across waves translates into considerable overlap in the pre- and post-MBA wages, particularly in the middle years, 1993 and 1994.