WHAT’S AN ACADEMIC DISCIPLINE WORTH? ANALYZING ECONOMIC, SUBJECTIVE, AND CLASS IDENTITY RETURNS TO HIGHER EDUCATION

Osasohan Agbonlahor

Abstract


This study provides a comprehensive assessment of the multidimensional returns to different academic disciplines by examining income differentials, job satisfaction, and subjective social class identification across five major categories: Business, STEM, Social Sciences, Humanities, and Other fields. Using nationally representative data from the General Social Survey (2012-2022), I analyze outcomes among 5,324 college graduates through multiple regression models that account for demographic and contextual factors. Results reveal significant differences in economic returns, with STEM graduates earning approximately 12.3% more than Business graduates, while Social Sciences majors earn 9.4% less. However, job satisfaction shows minimal variation across disciplines, suggesting that subjective well-being may depend more on person-environment fit than field-specific advantages. Subjective social class identification demonstrates significant field-based variation even after controlling for income, with STEM graduates most likely (β = 0.277, p < 0.001) and Humanities (β = -0.350, p < 0.01) and Other fields (β = -0.579, p < 0.01) least likely to identify with higher social classes. Gender moderates these relationships, with smaller gender gaps in Social Sciences (β = 0.146, p < 0.05) and Humanities (β = 0.225, p < 0.01) compared to Business and STEM fields. A composite ROI index integrating all three dimensions confirms STEM's overall advantage (β = 0.092, p < 0.001), followed by Business, with Social Sciences (β = -0.066, p < 0.01), Humanities (β = -0.097, p < 0.01), and Other fields (β = -0.156, p < 0.05) showing progressively lower comprehensive returns. The study provides evidence-based insights for educational policy, career guidance, and individual decision-making, suggesting that optimal educational choices may differ depending on which dimensions of success individuals prioritize. By revealing how different academic disciplines shape multiple aspects of career outcomes, this research contributes to a more nuanced understanding of the complex relationship between educational investment and life trajectories in modern society.

 

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academic disciplines, career outcomes, educational returns, job satisfaction, social class, gender differences, human capital

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DOI: http://dx.doi.org/10.46827/ejes.v12i6.6051

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