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Income Differences Between PhDs and Masters: Evidence from The Netherlands

Bram Wouterse (), Karen Wiel () and Marc Steeg ()
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Bram Wouterse: CPB Netherlands Bureau for Economic Policy Analysis
Karen Wiel: CPB Netherlands Bureau for Economic Policy Analysis
Marc Steeg: CPB Netherlands Bureau for Economic Policy Analysis

De Economist, 2017, vol. 165, issue 4, 439-461

Abstract: Abstract In this paper we investigate individual income differences between individuals with Master and PhD degrees over the first 20 years of a career. We compare monthly incomes of Dutch higher education graduates with the same years of experience, gender and field of study. It turns out that over the first 20 years of experience, the average annual return to a PhD education is not significantly different from zero. During the PhD track and the first years after PhD graduation PhDs earn less than Masters, but this is compensated by higher earnings in later years. Income differences differ strongly by sex.

Keywords: Returns to education; Doctoral programs; PhDs; Mincer regressions (search for similar items in EconPapers)
JEL-codes: I2 J3 (search for similar items in EconPapers)
Date: 2017
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