Study finds graduates with two majors are better equipped for market shocks

  • Double majors have more stable earnings than single major graduates
  • Graduates with double majors experience less fluctuation in income
  • Diverse skill set helps them find more stable jobs
  • Earnings of double majors in unrelated fields fluctuate two-thirds less than single majors
  • Earnings of double majors in related fields fluctuate one-third less than single majors

A recent study suggests that double major graduates have a more diverse set of skills, making them less susceptible to income fluctuations. Graduates who choose unrelated disciplines benefit the most from this diversification, experiencing earnings fluctuation nearly two-thirds less than single majors in reaction to market shocks. Those with related double majors see their earnings fluctuate about one-third less. The study analyzed 1.4 million U.S. college-educated workers between 2009 and 2019.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the benefits of double majors in terms of job stability and earnings protection from market shocks based on a recent study. It also includes expert opinions to support its claims. However, it could be improved by providing more specific details about the study’s methodology and including the names of other co-authors.
Noise Level: 3
Noise Justification: The article provides relevant information about the benefits of double majors in terms of stability and protection from market shocks. It cites a recent study and includes expert opinions. However, it could benefit from more detailed explanations and examples to support its claims and avoids diving into unrelated topics.
Key People: Drew Hanks (Associate Professor at Ohio State University), Xuechao Qian (Postdoctoral Scholar at the Stanford Graduate School of Business)

Financial Relevance: Yes
Financial Markets Impacted: The study suggests that double majors give workers a more stable earnings and diverse skill set, which helps them find more stable jobs and withstand market shocks.
Financial Rating Justification: The article discusses the financial benefits of having a double major in terms of stability in earnings and job opportunities, as well as the impact on the labor market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event in the text.

Reported publicly: www.wsj.com