@article{Song:18207,
      recid = {18207},
      author = {Song, Moohoun and Orazem, Peter F.},
      title = {Returns to Graduate and Professional Education: The Roles  of Mathematical and Verbal Skills by Major},
      address = {2005},
      number = {1043-2016-85332},
      series = {Working Paper 05028},
      pages = {37},
      year = {2005},
      abstract = {Students in majors with higher average quantitative GRE  scores are less likely to attend graduate school while  students in majors with higher average verbal GRE scores  are more likely to attend graduate school.  This sorting  effect means that students whose cognitive skills are  associated with lower earnings at the bachelor's level are  the most likely to attend graduate school.  As a result,  there is a substantial downward bias in estimated returns  to graduate education.  Correcting for the sorting effect  raises estimated annualized returns to a Master's or  doctoral degree from about 5% to 14.5% and 12.6%  respectively.  Estimated returns to professional degrees  rise from 14% to 20%.  These findings correspond to a large  increase in relative earnings received by post graduate  degree holders in the United States over the past 20  years.},
      url = {http://ageconsearch.umn.edu/record/18207},
      doi = {https://doi.org/10.22004/ag.econ.18207},
}