In so doing, it offers informative analysis for policymakers hoping to understand, and address, these important trends. The lifetime earnings of the median male worker declined by 10 percent from the cohort to the cohort.
Further, more than three-quarters of the distribution of men experienced no rise in their lifetime earnings across these cohorts. Accounting for rising employer-provided health and pension benefits partly mitigates these findings but does not alter the substantive conclusions.
The gender gap in lifetime earnings has been closing steadily since the mids. These broad measures mask significant changes over time within genders. Figure 4 below shows how inequality in lifetime earnings in the overall population has been mostly flat. Figure 5 plots the PP50 ratio, which measures inequality above the median or P50 , and Figure 6 plots the PP10 ratio, which measures inequality below the median.
Starting with the trends for the whole population gray line with diamonds , the PP50 ratio of the lifetime earnings distribution increased throughout the period, rising from 2.
In contrast, the PP10 ratio fell throughout the period, from 3. For men, inequality at entry rises for subsequent cohorts, and this is what drives the increase in lifetime inequality for men—not greater growth in inequality over the lifecycle. The same is not true for women, at least until s, which display a more complex pattern. Even though graduates of any field can choose a wide variety of occupations, we see substantial differences in the earnings of these graduates who work full-time.
However, the difference in lifetime earnings between men and women cannot be simply attributed to differences in the popularity of certain degree fields since men receive higher earnings in every field. Even male graduates in fields associated with relatively low earnings among men still earn amounts comparable to the highest earnings of female graduates.
The most popular master's degree fields for women and men at Indiana's public institutions are again notably different see Table 2. The most popular field for women is education 30 percent of all graduates followed by business 13 percent. In contrast, over a third of all men's master's degrees are in business, followed by education 16 percent. Engineering is again the third most popular field among men 13 percent of all graduates but only the 11th most popular field among women.
Allied health fields and nursing are popular among female master's degree graduates but do not rank among the top 10 for men. We would expect that the more specialized skills of master's degree graduates make them more likely to hold occupations aligned to their fields.
Again, men with master's degrees have far larger earning potentials than their female counterparts in almost all popular fields, with one notable exception among graduates in the arts and humanities field. There are similar numbers of female and male graduates of professional degree programs, 3 such as those in medicine and law, and these graduates are among the highest paid in the U.
While women outnumber men at most degree levels, Indiana's public universities still produce more male graduates than female graduates at the doctoral level—approximately compared to each year see Table 4.
The field of choice among women is once again education 23 percent followed by the social sciences 14 percent and arts and humanities 12 percent , which together account for half of all female graduates' doctoral degrees.
In contrast, half of all men complete doctoral degrees in engineering 24 percent , mathematics and physical sciences 14 percent , and the biological, agricultural and environmental sciences 12 percent.
There is a wide range of lifetime earnings associated with the six most popular doctoral degree programs. Average wages depend a lot on gender and race.
We know, for example, that there are stark differences in both the opportunities afforded to people — and the ultimate amount people earn — when separated by race and gender. From a Pew Research survey , here are a few examples of these differences:. A hotel manager will likely make less than a software technician. Besides education, the field or career path you choose may have the biggest impact on your overall earnings.
An engineer, regardless of race or gender, will probably out-earn a teacher, for example. You can find endless lists of jobs or careers that pay more than others. Next: The intangibles — or what you have little or no control over. Some people are just born with more connections. We have updated the data in both interactives to use earnings from , and we have also expanded the number of majors available from 80 to The updated interactives can be accessed on The Hamilton Project website: career earnings profiles and lifetime earnings and undergraduate student loan repayment calculator.
With just a few small differences, many conclusions from the initial economic analysis still hold. This marks a gain of between 1 and 2 percent, after accounting for inflation, from our analysis.
You can find this interactive here. Income-driven repayment plans may make sense for a large number of college graduates who borrowed, especially if the amount borrowed was greater than typical or if earnings are lower than expected in early career—particularly during recessions that make finding a good job match harder. For many years, The Hamilton Project has produced data interactives that help young people make decisions regarding their education and careers.
Today we have provided an update to Major Decisions, which helps undergraduates learn about career earnings profiles and lifetime earnings and how this relates to student loan repayment.
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