Career preferences and socio-economic background

Arbeitspapier

Career decisions, that is educational and occupational choice, are not only made by comparing expected incomes, but also by considering non-monetary rewards like social impact, chances of promotion, or the compatibility of work and family. In this paper, I use rich panel data from Germany to show that preferences about such aspects of a career as stated at age 17 are strong predictors of future earnings in the labor market. At the same time, these preferences differ significantly by socio-economic background, and intergenerational income persistence is reduced by 8-22 percent when accounting for career preferences.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ifo Working Paper ; No. 395

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Microeconomic Behavior: Underlying Principles ; Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; Human Capital; Skills; Occupational Choice; Labor Productivity ; Job, Occupational, and Intergenerational Mobility; Promotion ; Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs
• Thema: Equality of opportunity ; intergenerational mobility ; occupational choice

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Schüle, Paul
• Ereignis: Veröffentlichung
• (wer): ifo Institute - Leibniz Institute for Economic Research at the University of Munich
• (wo): Munich
• (wann): 2023

Weitere Informationen

• Handle: http://hdl.handle.net/10419/272302