ERIC Number: EJ1048196
Record Type: Journal
Publication Date: 2015
Abstractor: As Provided
Reference Count: 18
Do College Students Make Better Predictions of Their Future Income than Young Adults in the Labor Force?
Education Economics, v23 n2 p162-179 2015
Several studies have considered whether American college students' hold "realistic" wage expectations. The consensus is that they do not--overestimation of future earnings is in the region of 40-50%. But is it just college students who overestimate the success they will have in the labor market, or is this something common to all young adults? In this paper, I analyze National Educational Longitudinal Study (1988) data to consider whether 20-year-old college men are more realistic about their future income than their peers (of the same age) who are already in the labor force. My findings suggest that young people in employment actually make "worse" predictions of their future income (on average) than certain student groups, so long as the latter successfully obtain a university degree.
Descriptors: College Students, Young Adults, Prediction, Predictive Validity, Longitudinal Studies, National Surveys, Income, Expectation, Wages, Salary Wage Differentials, Employment, Educational Benefits, Comparative Analysis, Labor Market, Interviews, Work Attitudes, Employee Attitudes, Occupational Aspiration
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A