Human Capital Investments and Expectations about Career and Family

We conducted a survey of high-ability college students and elicited beliefs about how their choice major, whether to complete degree, would affect an array future events: earnings, employment, marriage prospects, potential spousal characteristics, fertility. find that perceive large “returns” human capital not only in own earnings but also other dimensions (e.g., spouse’s fertility). evidence sorting into majors on the basis these perceived returns. Family expectations are particularly important for female students’ major choices. In follow-up 6 years after initial data collection, we close connection between current realizations.