The Labor Market Returns to Advanced Degrees. NBER Working Paper No. 26959

Autor/inn/en	Altonji, Joseph G.; Zhong, Ling
Institution	National Bureau of Economic Research
Titel	The Labor Market Returns to Advanced Degrees. NBER Working Paper No. 26959
Quelle	(2020) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Education Work Relationship; Outcomes of Education; Masters Degrees; Doctoral Degrees; Income; Business Administration Education; Legal Education (Professions); Engineering Education; Nursing Education; Professional Education; Psychology; Social Work; Majors (Students); Teacher Education + Suchen Sie Ihr Suchwort? Lernleistung; Schulerfolg; Doctoral degree; Doktorgrad; Einkommen; Juristischer Beruf; Ingenieurausbildung; Pflegepädagogik; Berufsausbildung; Psychologie; Soziale Arbeit; Lehrerausbildung; Lehrerbildung
Abstract	We estimate the labor market return to an MBA, a JD, and master's in engineering, nursing, education, psychology and social work, and thirteen other graduate degrees. To control for heterogeneity in preferences and ability, we use fixed effects for combinations of field-specific undergraduate and graduate degrees obtained by the last time we observe an individual. Basically, we compare earnings before the graduate degree to earnings after the degree. We find large differences across graduate fields in earnings effects, and more moderate differences in internal rates of return that account for program length and tuition. The returns often depend on the undergraduate major. The contribution of occupational upgrading to the earnings gain varies across degrees. Finally, simple regression-based estimates of returns to graduate fields are often highly misleading. (As Provided).
Anmerkungen	National Bureau of Economic Research. 1050 Massachusetts Avenue, Cambridge, MA 02138-5398. Tel: 617-588-0343; Web site: http://www.nber.org
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01