Effect of College Characteristics on Earnings, 1976 Cohort of Men and Women
| College Characteristic: Log Net Tuition | College Characteristic: Barron’s Index | |||
|---|---|---|---|---|
| Basic | Self-Revelation | Basic | Self-Revelation | |
| Effect on log (median of 1983 through 1987 annual earnings) | ||||
| Parameter estimate for school quality measure | 0.014 (0.010) | −0.007 (0.013) | 0.010 (0.005) | 0.001 (0.013) |
| N = 11,984 | {0.024} | {0.027} | {0.012} | {0.015} |
| Effect on log (median of 1988 through 1992 annual earnings) | ||||
| Parameter estimate for school quality measure | 0.092 (0.012) | 0.012 (0.016) | 0.055 (0.006) | 0.020 (0.017) |
| N = 12,407 | {0.028} | {0.028} | {0.011} | {0.015} |
| Effect on log (median of 1993 through 1997 annual earnings) | ||||
| Parameter estimate for school quality measure | 0.124 (0.015) | 0.013 (0.019) | 0.071 (0.007) | 0.017 (0.010) |
| N = 12,075 | {0.030} | {0.038} | {0.009} | {0.015} |
| Effect on log (median of 1998 through 2002 annual earnings) | ||||
| Parameter estimate for school quality measure | 0.140 (0.012) | 0.017 (0.017) | 0.077 (0.008) | 0.014 (0.012) |
| N = 12,064 | {0.026} | {0.034} | {0.008} | {0.019} |
| Effect on log (median of 2003 through 2007 annual earnings) | ||||
| Parameter estimate for school quality measure | 0.143 (0.018) | 0.026 (0.023) | 0.080 (0.009) | 0.023 (0.012) |
| N = 11,894 | {0.032} | {0.039} | {0.010} | {0.017} |
Source: C&B Survey and Detailed Earnings Records from the Social Security Administration.
Notes: Each cell represents parameter estimates from a separate weighted least squares regression. Both the basic and self-revelation models control for race, sex, predicted parental income, student’s SAT score, a dummy indicating if student SAT score was missing, student’s high school grade point average, a dummy indicating if high school grade point average was missing, and whether the student was a college athlete; the self-revelation model also controls for the average SAT score of the schools to which the student applied and dummies for the number of applications the student submitted. Weights were used to make the sample representative of students at C&B schools. Two sets of standard errors are reported, one in parentheses and in brackets. Standard errors in brackets are robust to correlated errors among students who attended the same institution. The Barron’s measure is coded as a continuous measure, ranging from 2 (Competitive colleges) to 5 (Most Competitive colleges) for our sample. Individuals are excluded if their median annual earnings over the five-year interval were less than $13,822 in 2007 dollars.