NB: I can't adjust the width of the embedded chart here, so click through to see the original. The
Annual pay for Bachelors graduates without higher degrees. Typical starting graduates have 2 years of experience; mid-career have 15 years. See full methodology for more.
Greg Mankiw adds the following proviso: "Of course, these data do not allow one to distinguish the treatment effect from self-selection based on innate characteristics."