The growth rate of the z mode is calculated assuming a cold magnetized background plasma and a tenuous population of hot electrons. For a weak, but nonvanishing, magnetic field the growth rate is shown to coincide with that of the electrostatic Langmuir wave, i.e., the result when the influence of the ambient magnetic field is only retained for the energetic electrons. Considering the case of a beam of hot electrons, we numerically evaluate the expression for the growth rate for several cases of solar wind plasma conditions. Solution of the full 3¿3 dispersion determinant allows the computation of the growth rate and real frequency shift for arbitrary beam densities and magnetic field strength. The influence of the background magnetic field is discussed, and the apparent polarization of the excited waves is calculated assuming a weak density gradient between source and observer. The effect of the beam density, direction of propagation, and magnetic field on the observable polarization is discussed. ¿ American Geophysical Union 1989