Do double majors in college go on to make more money?
In this study I examine the relationship between graduating from college with two majors rather than one and labor market earnings using the 2003 National Survey of College Graduates. Because institutions are heterogeneous both in terms of overall quality and in the availability of opportunities to double major, I attempt to control for such overarching institutional differences and explore their effects on premiums to completing a double major. On average, I find a double major to earn 3.2% more than his/her single major counterpart. I also find evidence that premiums to double majoring differ across types of institutions: ranging from a near 4% premium at Research and Comprehensive universities to no effect at Liberal Arts colleges. Finally, I investigate the degree to which choices of first and second major academic disciplines affect earnings premiums.
Source: “The college double major and subsequent earnings” from Education Economics, Volume 18, Issue 2 June 2010 , pages 167 – 189
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