In David Wessel’s column in today’s WSJ, he cites research by Harvard economists Larry Katz and Claudia Goldin that followed the fortunes of 6,500 Harvard graduates between 1969 and 1992. “Comparing graduates with similar SAT scores, grade-point averages, gender, age, occupation, and everything else they can measure, Mr. Katz and Ms. Goldin find Harvard grads who work in finance earn 195% more than similar graduates in other careers, or triple the pay. That’s no typo: Going into finance means making nearly three times as much as your classmates with other careers.”
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