Discussion Papers,
Statistics Norway, Research Department

Abstract: Financial and quantitative education, such as pursuing a degree in business or economics, should potentially equip individuals with the skills to better allocate their financial resources. This paper leverages discontinuities in admission cutoffs in the Norwegian higher education system to estimate the causal effect of entering a field of study on returns to wealth later in life. We find no statistically significant impact of entering any field of study on returns to wealth later in life, mainly because our estimation sample is too small to confidently identify the effect of field of study on returns to wealth. We thus conclude that we still do not know whether completing a specific field of study affects returns to wealth.

Keywords: Education and Inequality; College Admission

JEL-codes: I24

18 pages, September 2025

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