This article provides evidence of a correlation between licensing exam difficulty and salaries in a regulated profession. Exam difficulty is positively correlated with salaries across states and over time, both at the aggregate and individual state levels. The magnitude of this correlation is substantial: a 1 per cent increase in exam difficulty implies a 1.7 per cent increase in median entry-level salaries. Exam difficulty does not significantly affect the inter-quartile difference in salaries.
Licensing Exam Difficulty and Entry Salaries in the US Market for Lawyers
PAGLIERO, Mario
2010-01-01
Abstract
This article provides evidence of a correlation between licensing exam difficulty and salaries in a regulated profession. Exam difficulty is positively correlated with salaries across states and over time, both at the aggregate and individual state levels. The magnitude of this correlation is substantial: a 1 per cent increase in exam difficulty implies a 1.7 per cent increase in median entry-level salaries. Exam difficulty does not significantly affect the inter-quartile difference in salaries.
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