Subject Choice and Earnings of UK Graduates
AbstractUsing a survey of a cohort of UK graduates, linked to administrative data on higher education participation, this paper investigates the labour market attainment of recent graduates by subject of study. We document a large heterogeneity in the mean wages of graduates from different subjects and a considerably larger one within subject with individuals with the most favourable unobserved characteristics obtaining wages almost twice as large as those with the worst. Moreover, gender differences in wages within subjects are also large. We then simulate a graduate tax to calculate a willingness to pay – in form of tuition fees – to capture these subject wage premia.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5652.
Length: 36 pages
Date of creation: Apr 2011
Date of revision:
Publication status: published in: Economics of Education Review, 2011, 30 (6), 1187-1201
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Other versions of this item:
- I22 - Health, Education, and Welfare - - Education - - - Educational Finance
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-30 (All new papers)
- NEP-EDU-2011-04-30 (Education)
- NEP-LAB-2011-04-30 (Labour Economics)
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- Colm Harmon, 2011.
"Economic Returns to Education: What We Know, What We Don’t Know, and Where We Are Going – Some Brief Pointers,"
201115, Geary Institute, University College Dublin.
- Dickson, Matt & Harmon, Colm, 2011. "Economic returns to education: What We Know, What We Don’t Know, and Where We Are Going—Some brief pointers," Economics of Education Review, Elsevier, vol. 30(6), pages 1118-1122.
- Harmon, Colm P., 2011. "Economic Returns to Education: What We Know, What We Don't Know, and Where We Are Going – Some Brief Pointers," IZA Policy Papers 29, Institute for the Study of Labor (IZA).
- Piper, Alan T., 2012. "A Happiness Test of Human Capital Theory," MPRA Paper 43496, University Library of Munich, Germany.
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