Elite university bachelor’s degree salary premium for master’s graduates: empirical evidence from China
利用2017和2019年中国高校调查数据，发现硕士毕业生若本科毕业于精英大学，薪资可高出约12%，其中人力资本和信号机制各贡献一部分，且溢价在薪资分布中呈U型趋势。
The labor market’s response to the signaling value of multiple qualifications (bachelor’s and master’s degrees) held by master’s graduates influences labor market efficiency and individual decisions to invest in education. Using data from the ‘Sample Survey of Chinese Higher Education Institutions’ conducted in 2017 and 2019, this study analyzes whether master’s graduates with bachelor’s degrees from elite universities earn salary premiums. The findings indicate that bachelor’s degrees from elite universities provide approximately a 12% salary premium for master’s graduates, attributable to both human capital and labor market signaling mechanisms. When accounting for individual human capital differences, the salary premium is approximately 9.1%. Furthermore, the empirical results show that these premiums are statistically significant only for master’s graduates from elite universities. The distribution of salary premiums exhibits a U-shaped trend, increasing from low to high salary quantiles. The signaling/screening mechanism’s salary premiums rise with starting salaries, while negative signaling effects are observed at lower quantiles.