Thursday, September 17, 2015

Choice of college major influences lifetime earnings more than simply getting a degree - University of Kansas

A new study based on longitudinal data confirms a college degree provides an advantage in lifetimes earnings, but a related decision once students make it to college could prove to be even more crucial. The study that includes a University of Kansas researcher found large lifetime earnings gaps depending on a student's field of study. For examples, men who major in science, technology, engineering and mathematics, or STEM fields, and earning a bachelor's degree achieved roughly $700,000 to $800,000 higher 40-year lifetime earnings from ages 20 to 59 than social science or liberal arts majors. Related to gender, college degrees no matter the field of study seem to benefit women with higher earnings compared with women who only graduated high school. For men in some fields of study, the earnings return would not be as high as a woman over her high school counterparts. "This is not because college-educated women earn more than equally educated men," Kim said, "but because labor market opportunities for less educated women are so scarce." http://www.eurekalert.org/pub_releases/2015-09/uok-coc091115.php

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