Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/272302 
Authors: 
Year of Publication: 
2023
Series/Report no.: 
ifo Working Paper No. 395
Publisher: 
ifo Institute - Leibniz Institute for Economic Research at the University of Munich, Munich
Abstract: 
Career decisions, that is educational and occupational choice, are not only made by comparing expected incomes, but also by considering non-monetary rewards like social impact, chances of promotion, or the compatibility of work and family. In this paper, I use rich panel data from Germany to show that preferences about such aspects of a career as stated at age 17 are strong predictors of future earnings in the labor market. At the same time, these preferences differ significantly by socio-economic background, and intergenerational income persistence is reduced by 8-22 percent when accounting for career preferences.
Subjects: 
Equality of opportunity
intergenerational mobility
occupational choice
JEL: 
D01
D63
J24
J62
I38
Document Type: 
Working Paper

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