The Effects of Advanced Degrees on the Wage Rates, Hours, Earnings and Job Satisfaction of Women and Men.

Autor/inn/en	Altonji, Joseph G.; Humphries, John Eric; Zhong, Ling
Institution	National Bureau of Economic Research
Titel	The Effects of Advanced Degrees on the Wage Rates, Hours, Earnings and Job Satisfaction of Women and Men.
Quelle	Cambridge, Mass.: National Bureau of Economic Research (2022), 97 S. PDF als Volltext (1); PDF als Volltext (2) Link als defekt meldenVerfügbarkeit
Reihe	NBER working paper series. w30105
Beigaben	Illustrationen
Sprache	englisch
Dokumenttyp	online; Monographie; Graue Literatur
DOI	10.3386/w30105
Schlagwörter	Zufriedenheit; Bildungsertrag; Bildungsabschluss; Geschlecht; Lohnhöhe; Arbeit; Arbeitszeit; Studium; Arbeitspapier; Absolvent; USA
Abstract	This paper uses a college-by-graduate degree fixed effects estimator to evaluate the returns to 19 different graduate degrees for men and women. We find substantial variation across degrees, and evidence that OLS overestimates the returns to degrees with high average earnings and underestimates the returns to degrees with low average earnings. Second, we decompose the impacts on earnings into effects on wage rates and effects on hours. For most degrees, the earnings gains come from increased wage rates, though hours play an important role in some degrees, such as medicine, especially for women. Third, we estimate the net present value and internal rate of return for each degree, which account for the time and monetary costs of degrees. We show annual earnings and hours worked while enrolled in graduate school vary a lot by gender and degree. Finally, we provide descriptive evidence that gains in overall job satisfaction and satisfaction with contribution to society vary substantially across degrees.
Erfasst von	ZBW - Leibniz-Informationszentrum Wirtschaft, Kiel
Update	2023/1