Thursday, August 9, 2012

The College Wage Premium--The Right College Degree Is Everything

The debate on whether going to college is worth it has become a political and social issue in America.  Stats are bantered around left and right, yet this work by The Cleveland Fed is the best I have seen yet. 

Electrical engineering, computer science, and nursing provide the best pay for the dollars you spend going to college.  In the business management world, accounting; economics; and finance lead the way over general business administration and marketing.

The decision to go to college has a profound effect on wages; however, we have seen that both college major and the pursuit of an advanced degree have a critical impact on the value one receives from a college education as well. Other factors affecting the return to college not discussed here include college quality, occupational choices, hours worked, and the relevance of unobserved skills.

Full Cleveland Fed report here

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