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IIRC, it was the top 10% of students in each class in the small set of majors that have significant returns (engineering, chemistry, etc.).
I don't remember what the sample was, but it definitely wasn't all students in America, so I don't think he could say how top schools compare to average ones. I would expect the basic pattern to hold, though, with the top few students reaping in the bulk of returns.
It’s a relief to know that hardworking students from lesser known colleges could avail themselves of the lion’s share of the pie if they focus their minds on excellence and outperforming their peers!
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The hardest part of doing this kind of research is estimating what those students would have earned without the degrees, because smart hardworking people tend to earn a lot regardless.
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