Examines the returns to subbaccalaureate credentials and coursework, using the postsecondary transcripts of the National Longitudinal Study of the Class of 1972. Results indicate substantial variety in the returns and suggest clear differences between the subbaccalaureate labor market and that for individuals with baccalaureate degrees. (56…

Transcript data from the National Longitudinal Study confirmed economic returns for bachelor's degrees and found indirect returns for associate degrees and certificates. Those who enroll in but fail to complete postsecondary education have earnings comparable to high school graduates. Fundamental differences in labor markets for college graduates…

An analysis of the 1984, 1987, and 1990 Survey of Income and Program Participation shows that the benefits of sub-baccalaureate credentials (associate degrees and certificates) are generally positive and statistically significant. However, the benefits of completing some postsecondary education but failing to earn credentials are much lower,…

Employers often use education and other ability measures as indicators of unmeasured ability dimensions. This paper presents tests of signaling, relying on differences in earnings functions for salaried individuals in screened occupations versus self-employed individuals in unscreened positions. Vocational associate degrees and high school grades…