The Effects of Advanced Degrees on the Wage Rates, Hours, Earnings and Job Satisfaction of Women and Men
Published: May 2022
Researchers evaluate the returns to different graduate degrees for men and women, as well as the net present value internal rate of return for each degree in order to account for the time and monetary cost of advanged degrees.
Analyzing 19 different advanced degrees, researchers analyze the impact on earnings for men vs. women, finding substantial variation across degrees. Factors impacting earnings changes also include, for some degrees, hours worked, though most degrees are most impact by changes in wage rate. Researchers also find that satisfaction gains are large for some degrees with smaller economic returns, such as education and humanities degrees, especially for men.
Abstract and Citation
Altonji, Joseph G. and Humphries, John Eric and Zhong, Ling, The Effects of Advanced Degrees on the Wage Rates, Hours, Earnings and Job Satisfaction of Women and Men (June 2022). NBER Working Paper No. w30105, Available at SSRN: https://ssrn.com/abstract=4128595