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Working Paper
Failing Just Fine: Assessing Careers of Venture Capital-backed Entrepreneurs via a Non-Wage Measure
This paper proposes a non-pecuniary measure of career achievement: seniority. Based on a database of over 130 million resumes, this metric exploits the variation in how long it takes to attain job titles. When non-monetary factors influence career choice, assessing career attainment via non-wage measures, such as seniority, has significant advantages. Accordingly, we use our seniority measure to study labor market outcomes of VC-backed entrepreneurs. Would-be founders experience accelerated career trajectories prior to founding, significantly outperforming graduates from same-tier colleges ...
Report
Educational Attainment and Wage Growth in New England: Evidence from Four Decades of Administrative Wage Records
Per capita personal income in New England grew from $10,731 to $87,655 during the 1980–2024 period. This increase, the largest among all US census divisions, coincided with significant growth in educational attainment in the region. As of 2024, 53 percent of New England workers aged 25 to 64 held at least a bachelor’s degree, and 23 percent possessed advanced degrees, compared with national averages of 44 percent and 17 percent, respectively. This study provides new insights into the relationship between educational attainment and income growth in New England, examining both individual ...