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  1. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❙❦✐❧❧s✱ ❚❡❝❤♥♦❧♦❣② ❛♥❞ ▲❛❜♦r ▼❛r❦❡t ■♥❡q✉❛❧✐t② ❉❛✈✐❞ ❉❡♠✐♥❣ ❍❛r✈❛r❞ ❯♥✐✈❡rs✐t② ❛♥❞ ◆❇❊❘ ❆✉❣✉st ✷✵✶✻

  2. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s Median Earnings Gap b/w College & High School Roughly Doubles between 1979 and 2012 College/high school median annual earnings gap, 1979–2012 In constant 2012 dollars Household gap 70,000 dollars $30,298 to $58,249 60,000 50,000 Male gap $17,411 to $34,969 40,000 30,000 20,000 Female gap $12,887 to $23,280 10,000 0 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012 Autor, 2014

  3. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❙t❛❣♥❛♥t✴❉❡❝❧✐♥✐♥❣ ❲❛❣❡s ❢♦r ▲♦✇✲❙❦✐❧❧❡❞ ▼❛❧❡s ❙♦✉r❝❡✿ ❆✉t♦r ✭✷✵✶✹✮

  4. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❉❡❝❧✐♥❡s ✐♥ ❧♦✇✲s❦✐❧❧❡❞✱ ♠❛❧❡ ▲❋P✳✳✳✳

  5. ✇❤❛t ❦✐♥❞s ♦❢ ✏❝♦❧❧❡❣❡✑ ❥♦❜s ❛r❡ ✐♥ ❞❡♠❛♥❞❄ ✷✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭❝♦❧❧❡❣❡✮ ✸✳ ❉❡♠❛♥❞ ❢♦r s❦✐❧❧s ❛♥❞ t❤❡ r♦❧❡ ♦❢ t❡❝❤♥♦❧♦❣② ✹✳ ❈♦♥❝❧✉s✐♦♥s ❛♥❞ P♦❧✐❝② ■♠♣❧✐❝❛t✐♦♥s ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❚❤❡ P❧❛♥ ✶✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭♣r❡✲❝♦❧❧❡❣❡✮ ✲ ❡✈✐❞❡♥❝❡ ❢r♦♠ ◆❆❊P ❛♥❞ ◆▲❙❨s

  6. ✇❤❛t ❦✐♥❞s ♦❢ ✏❝♦❧❧❡❣❡✑ ❥♦❜s ❛r❡ ✐♥ ❞❡♠❛♥❞❄ ✸✳ ❉❡♠❛♥❞ ❢♦r s❦✐❧❧s ❛♥❞ t❤❡ r♦❧❡ ♦❢ t❡❝❤♥♦❧♦❣② ✹✳ ❈♦♥❝❧✉s✐♦♥s ❛♥❞ P♦❧✐❝② ■♠♣❧✐❝❛t✐♦♥s ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❚❤❡ P❧❛♥ ✶✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭♣r❡✲❝♦❧❧❡❣❡✮ ✲ ❡✈✐❞❡♥❝❡ ❢r♦♠ ◆❆❊P ❛♥❞ ◆▲❙❨s ✷✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭❝♦❧❧❡❣❡✮

  7. ✇❤❛t ❦✐♥❞s ♦❢ ✏❝♦❧❧❡❣❡✑ ❥♦❜s ❛r❡ ✐♥ ❞❡♠❛♥❞❄ ✹✳ ❈♦♥❝❧✉s✐♦♥s ❛♥❞ P♦❧✐❝② ■♠♣❧✐❝❛t✐♦♥s ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❚❤❡ P❧❛♥ ✶✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭♣r❡✲❝♦❧❧❡❣❡✮ ✲ ❡✈✐❞❡♥❝❡ ❢r♦♠ ◆❆❊P ❛♥❞ ◆▲❙❨s ✷✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭❝♦❧❧❡❣❡✮ ✸✳ ❉❡♠❛♥❞ ❢♦r s❦✐❧❧s ❛♥❞ t❤❡ r♦❧❡ ♦❢ t❡❝❤♥♦❧♦❣②

  8. ✹✳ ❈♦♥❝❧✉s✐♦♥s ❛♥❞ P♦❧✐❝② ■♠♣❧✐❝❛t✐♦♥s ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❚❤❡ P❧❛♥ ✶✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭♣r❡✲❝♦❧❧❡❣❡✮ ✲ ❡✈✐❞❡♥❝❡ ❢r♦♠ ◆❆❊P ❛♥❞ ◆▲❙❨s ✷✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭❝♦❧❧❡❣❡✮ ✸✳ ❉❡♠❛♥❞ ❢♦r s❦✐❧❧s ❛♥❞ t❤❡ r♦❧❡ ♦❢ t❡❝❤♥♦❧♦❣② • ✇❤❛t ❦✐♥❞s ♦❢ ✏❝♦❧❧❡❣❡✑ ❥♦❜s ❛r❡ ✐♥ ❞❡♠❛♥❞❄

  9. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❚❤❡ P❧❛♥ ✶✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭♣r❡✲❝♦❧❧❡❣❡✮ ✲ ❡✈✐❞❡♥❝❡ ❢r♦♠ ◆❆❊P ❛♥❞ ◆▲❙❨s ✷✳ ❙✉♣♣❧② ♦❢ s❦✐❧❧s ✭❝♦❧❧❡❣❡✮ ✸✳ ❉❡♠❛♥❞ ❢♦r s❦✐❧❧s ❛♥❞ t❤❡ r♦❧❡ ♦❢ t❡❝❤♥♦❧♦❣② • ✇❤❛t ❦✐♥❞s ♦❢ ✏❝♦❧❧❡❣❡✑ ❥♦❜s ❛r❡ ✐♥ ❞❡♠❛♥❞❄ ✹✳ ❈♦♥❝❧✉s✐♦♥s ❛♥❞ P♦❧✐❝② ■♠♣❧✐❝❛t✐♦♥s

  10. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s

  11. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s

  12. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s

  13. ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s

  14. ◆❛rr♦✇✐♥❣ ♦❢ ✐♥❝♦♠❡✲❛❝❤✐❡✈❡♠❡♥t ❣❛♣ ✭ ◆✐❡❧s❡♥ ✷✵✶✻ ✮ ❈♦♠♣❛r❡ ✭♠♦st❧②✮ ♣r❡✲❝♦❧❧❡❣❡ s❦✐❧❧s ♦❢ ②♦✉t❤ ✐♥ ✶✾✽✶ t♦ s✐♠✐❧❛r ❝♦❤♦rt ✐♥ ✶✾✾✾ ❙♠❛❧❧ ✐♥❝r❡❛s❡ ✐♥ s❦✐❧❧s ❛❝r♦ss ✇❛✈❡s ✲ ❞r✐✈❡♥ ❜② ♥♦♥✇❤✐t❡s ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❙✐♠✐❧❛r ♣❛tt❡r♥s ✐♥ ❆❋◗❚ ✲ ❛❝r♦ss ◆▲❙❨ ✇❛✈❡s • ❈❛r❡❢✉❧ ❝♦♠♣❛r✐s♦♥ ♦❢ ❆❋◗❚ ❛❝r♦ss ❛❣❡s✱ t❡st ❢♦r♠❛ts ✭ ❆❧t♦♥❥✐✱ ❇❤❛r❛❞✇❛❥ ❛♥❞ ▲❛♥❣❡ ✷✵✶✷ ✮

  15. ◆❛rr♦✇✐♥❣ ♦❢ ✐♥❝♦♠❡✲❛❝❤✐❡✈❡♠❡♥t ❣❛♣ ✭ ◆✐❡❧s❡♥ ✷✵✶✻ ✮ ❙♠❛❧❧ ✐♥❝r❡❛s❡ ✐♥ s❦✐❧❧s ❛❝r♦ss ✇❛✈❡s ✲ ❞r✐✈❡♥ ❜② ♥♦♥✇❤✐t❡s ❇❛s✐❝ ❋❛❝ts ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭Pr❡✲❈♦❧❧❡❣❡✮ ❙✉♣♣❧② ♦❢ ❙❦✐❧❧s ✭❈♦❧❧❡❣❡✮ ❉❡♠❛♥❞ ❢♦r ❙❦✐❧❧s ❙✐♠✐❧❛r ♣❛tt❡r♥s ✐♥ ❆❋◗❚ ✲ ❛❝r♦ss ◆▲❙❨ ✇❛✈❡s • ❈❛r❡❢✉❧ ❝♦♠♣❛r✐s♦♥ ♦❢ ❆❋◗❚ ❛❝r♦ss ❛❣❡s✱ t❡st ❢♦r♠❛ts ✭ ❆❧t♦♥❥✐✱ ❇❤❛r❛❞✇❛❥ ❛♥❞ ▲❛♥❣❡ ✷✵✶✷ ✮ • ❈♦♠♣❛r❡ ✭♠♦st❧②✮ ♣r❡✲❝♦❧❧❡❣❡ s❦✐❧❧s ♦❢ ②♦✉t❤ ✐♥ ✶✾✽✶ t♦ s✐♠✐❧❛r ❝♦❤♦rt ✐♥ ✶✾✾✾

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