The Equality of Opportunity Project gathers amazing data on the incomes of college graduates and their families. The New York Times provides an overview and this summary (pdf) of Williams data. Day 5 of 5 on this topic.

I love this graphic:

scatter

At the same time, I don’t quite know what to do with it. Comments:

1) I encourage readers to poke around with the original. The big earners are mostly graduates of pharmacy schools. Is being a pharmacist really that lucrative? Is the median income of someone who graduates from the St. Louis College of Pharmacy really over $120,000 at age 32?

2) I have not figured out exactly how they handle complexities in the data. For example, how do they separate out the incomes from married couples filing jointly? How do they calculate the income for someone who is a stay-at-home mom or dad?

3) Another key attribute to control for is occupation. We don’t care much if Duke graduates earn more than Williams graduates if the cause is that more Ephs become teachers. But if Eph teachers and Eph investment bankers both earn less money than Duke teachers/bankers, we should figure out why.

Comments from our readers?

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