Unbundling the Effects of College on First-Job Search: Returns to Majors, Minors, and Extracurriculars
By Jaime Arellano-Bover, Carolina Bussotti, John M. Nunley, and R. Alan Seals
IZA Discussion Paper Series (2024)
This innovative study examines the early career outcomes of U.S. college graduates, focusing on how different aspects of the college experience—majors, minors, internships, study abroad, and computer skills—impact their success in securing their first job. Conducted by an expert team, including firm members John M. Nunley and R. Alan Seals, the study is based on a large-scale audit involving 36,880 résumés submitted to business-related job postings.
Key findings include:
- Majors Matter: Graduates with majors in Biology and Economics receive significantly higher callback rates than those in Philosophy, with analytical and interpersonal skill-intensive jobs showing the greatest gains for these majors.
- Minors Are Less Valuable: History and Math minors provide no measurable benefit in the job search, highlighting that employers prioritize majors over minors during the initial screening process.
- Internship Value: Social internships, such as sales roles, significantly improve callback rates, whereas quantitative internships, like analyst positions, offer little advantage.
- Study Abroad Advantage: Students who studied abroad enjoy higher callback rates, particularly for roles requiring strong interpersonal skills, reflecting the value employers place on life experiences and global exposure.
- Computer Skills: The combination of programming and data analysis skills yields the highest callback premiums, suggesting that employers favor candidates with advanced technical capabilities.
This research underscores the importance of strategic decisions during college and offers practical insights into how students can enhance their employability. It highlights the nuanced value of certain educational and extracurricular experiences in shaping career trajectories.
