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Is Economics a Good Major for Future Lawyers? Evidence from Earnings Data

Author

Listed:
  • Winters, John V.

    (Iowa State University)

Abstract
The current study examines earnings differences for practicing lawyers by undergraduate major with a focus on economics majors. Some majors do much better than others. Economics majors tend to do very well in both median and mean earnings, and both without and with controlling for individual characteristics. Electrical engineering, accounting, finance, and some other majors also do relatively well. This information is useful for undergraduates planning to attend law school and considering what undergraduate major field to study. Economics appears to be a very good option.

Suggested Citation

  • Winters, John V., 2015. "Is Economics a Good Major for Future Lawyers? Evidence from Earnings Data," IZA Discussion Papers 9416, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp9416
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    File URL: https://docs.iza.org/dp9416.pdf
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    References listed on IDEAS

    as
    1. Dan A. Black & Seth Sanders & Lowell Taylor, 2003. "The Economic Reward for Studying Economics," Economic Inquiry, Western Economic Association International, vol. 41(3), pages 365-377, July.
    2. Thomas Carroll & Djeto Assane & Jared Busker, 2014. "Why it Pays to Major in Economics," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(3), pages 251-261, September.
    3. John V. Winters & Weineng Xu, 2014. "Geographic Differences in the Earnings of Economics Majors," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(3), pages 262-276, September.
    4. Sam Allgood & William Bosshardt & Wilbert Van Der Klaauw & Michael Watts, 2011. "Economics Coursework And Long‐Term Behavior And Experiences Of College Graduates In Labor Markets And Personal Finance," Economic Inquiry, Western Economic Association International, vol. 49(3), pages 771-794, July.
    5. Michael Nieswiadomy, 2010. "LSAT® Scores of Economics Majors: The 2008--9 Class Update," The Journal of Economic Education, Taylor & Francis Journals, vol. 41(3), pages 331-333, June.
    6. Michael Nieswiadomy, 1998. "LSAT Scores of Economics Majors," The Journal of Economic Education, Taylor & Francis Journals, vol. 29(4), pages 377-379, January.
    7. Michael Nieswiadomy, 2014. "LSAT® Scores of Economics Majors: The 2012--13 Class Update," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(1), pages 71-74, March.
    8. Michael Nieswiadomy, 2006. "LSAT Scores of Economics Majors: The 2003-2004 Class Update," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(2), pages 244-247, April.
    9. R. Kim Craft & Joe G. Baker, 2003. "Do Economists Make Better Lawyers? Undergraduate Degree Field and Lawyer Earnings," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(3), pages 263-281, January.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Hassid, Joseph & Maniatis, George & POLEMIS, Michael, 2024. "Do Law Professionals Lack Economic Knowledge? Field Evidence from Greece," MPRA Paper 122550, University Library of Munich, Germany.

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    More about this item

    Keywords

    college major; earnings; economics major; lawyers; attorneys;
    All these keywords.

    JEL classification:

    • I20 - Health, Education, and Welfare - - Education - - - General
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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