Using two representative samples of some 74,000 students and 11,000 graduates, respectively, we analyse the accuracy of students' wage expectations given their individual characteristics. We find that students are aware of the effects of most of their own characteristics, as a large number of determinants of expected and realised salaries do not…

This paper assesses the impact of the mismatch between a college major and job on college graduates' early career earnings using a sample from China. On average, a major-job mismatched college graduate is found to suffer from an income loss that is much lower than the penalty documented in previous studies. The income losses are also found to be…