College majors affect more than just average earnings

Nov 4, 2022

The proportion of students enrolling in college has increased dramatically over the past half century. Image: Unsplash/Charles DeLoye

Rodney Andrews

Assistant Professor of Economics, University of Texas

Scott Imberman

Professor of Economics and Education Policy, Michigan State University

Michael Lovenheim

Donald C. Opatrny ’74 Chair of the Department of Economics and Professor of Economics, Industrial and Labor Relations, and Public Policy, Cornell University

Kevin Stange

Associate Professor of Public Policy, University of Michigan

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Graph showing the financial returns to US college majors by potential experience for BA/BS degree

Engineering and architecture have the highest financial returns to college majors in the US. Image: CEPR

Graph showing returns relative to same percentile of liberal-arts distribution

Business and economics have a higher percentile return for US students. Image: CEPR

Graph showing the relationship between mean returns and variability in earnings by major. Image: CEPR

Figure showing the variation in mean earnings within major groupings. Image: CEPR

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