Does the composition of a college degree matter? The relationship between earnings and a double major in complementary academic disciplines

In times of growing college enrollment, students seek ways in which to distinguish themselves and be better prepared for the labor market. Using the data from 2010 cycle of the National Survey of College Graduates, this study examines the relationship between labor market earnings and graduating from college with a double major in complementary academic disciplines, after controlling for institutional and student characteristics. In addition to regression, the study uses propensity score matching to control for bias in the estimates caused by unequal probabilities of selection into the treatment group (students with a complementary-discipline double major). While it finds that, on average, in 2009, such double major students to earn 8.16% more than their peers, it also finds evidence that the premiums to such double majoring differ between genders and races: there is a 5.8% premium for males and a 10.0% premium for females; and a 8.38% premium for Whites, but insignificant effects on other races. The study provides insights into the evolving policy debate on higher education. Interdisciplinary learning helps students in many ways, so creating and sustaining complementary-discipline double major programs can be a viable option to strengthen the future labor force in the United States. As these effects are more pronounced concerning specific double major combinations and specific groups of people, a thorough appreciation of the existing gender and race inequalities, as well as in-depth analyses might be of great policy interest.