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Author Altonji, Joseph G.,
Title The labor market returns to advanced degrees / Joseph G. Altonji, Ling Zhong.
Imprint Cambridge, Mass. : National Bureau of Economic Research, 2020.

View online
View online
Author Altonji, Joseph G.,
Series NBER working paper series ; no. 26959
Working paper series (National Bureau of Economic Research) ; no. 26959.
Subject Degrees, Academic -- Economic aspects.
Education -- Economic aspects.
Wages -- Effect of education on.
Alt Name Zhong, Ling,
National Bureau of Economic Research,
Description 1 online resource (83 pages) : illustrations.
Note Description based on online resource; title from viewed April 29, 2020.
"April 2020"
Bibliography Note Includes bibliographical references (pages 28-29).
Summary 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.
OCLC # 1152520872

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