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The returns to quality in graduate education

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  • Adam Stevenson

Abstract

This paper estimates the monetary return to quality in US graduate education, controlling for cognitive ability and self-selection across award level, program quality, and field-of-study. In most program types, I cannot reject the hypothesis of no returns to either degree completion or program quality. Important exceptions include master's programs in health science, where completion substantially increases earnings, and in MBA and professional degree programs, where program quality has a positive influence on earnings. I explore the job characteristics that predict greater earnings among students with tertiary education, and I estimate the returns to quality in terms of non-monetary job benefits.

Suggested Citation

  • Adam Stevenson, 2016. "The returns to quality in graduate education," Education Economics, Taylor & Francis Journals, vol. 24(5), pages 445-464, September.
    • Handle: RePEc:taf:edecon:v:24:y:2016:i:5:p:445-464
    DOI: 10.1080/09645292.2016.1150418
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    Cited by:

    1. Balogh, Gábor & Sipos, Norbert, 2019. "Pályakezdő közgazdászok bére a szakdiverzifikáció függvényében [Programme diversification effects on the salaries of freshly graduated economists]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 551-577.
    2. Christopher T. Bennett, 2023. "Labor Market Returns to MBAs From Less‐Selective Universities: Evidence From a Field Experiment During COVID‐19," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 42(2), pages 525-551, March.
    3. Veronica Minaya & Judith Scott-Clayton & Rachel Yang Zhou, 2024. "Heterogeneity in Labor Market Returns to Master’s Degrees: Evidence from Ohio," Research in Higher Education, Springer;Association for Institutional Research, vol. 65(5), pages 775-793, August.
    4. Andrew S. Hanks & Kevin M. Kniffin & Xuechao Qian & Bo Wang & Bruce A. Weinberg, 2022. "First Foot Forward: A Two-Step Econometric Method for Parsing and Estimating the Impacts of Multiple Identities," NBER Working Papers 30293, National Bureau of Economic Research, Inc.

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