Assignment Prompt & Instructions
You will write a report on estimating how much are you most likely to earn after graduation. Below is the detailed instruction for you to complete the assignment:
1. Select two to four Occupations that you are interested in pursuing after graduation. These should align with your major area of study (your major, majors, or major minor).
2. Research and Collect Relevant Data: Below is a list of suggested data sources which are very helpful for your analysis. Please browse the websites and carefully examine the data provided. Use the data to gather relevant wage information needed for your estimates. You are allowed to supplement your analysis with additional reliable sources, be sure to cite all sources in your report.
BLS Occupational Employment and Wage StatisticsLinks to an external site.
BLS Wage Data by Area and OccupationLinks to an external site.
Earnings by EducationLinks to an external site.
ACS Detailed Field of Degree and Median Annual EarningsLinks to an external site.
Modeled Wage Estimates from BLSLinks to an external site.
CPS Data TablesLinks to an external site.
3. Perform Analysis: Below is the instruction to guide your analysis; you don't have to follow the exact same sequence but you should at least include all the factors that are suggested to be considered (industry, location, education degree, major, age, and gender); feel free to discuss all the other factors that you believe important for your estimates. If you want to perform analysis that is different from the instruction, make sure to describe the analysis procedure clearly.
Summary Statistics: Present the wage distribution (by quartiles or percentiles) data for the chosen occupation(s). You can also directly go to the next step(s) if the wage statistics are based on industry or location, or areas of study, etc.
Determine how the wages vary by industry and locations (the metropolitan areas that you plan to work).
Analyze how your degree in your major (e.g., Economics) influences potential earnings.
Further adjust for other factors such as age and gender that may impact earnings in your chosen occupations.
If you believe there are other important factors affecting the wage estimate, please describe those factors and analyze how they affect your estimate.
Use graphs or tables to visualize the data where appropriate.
Regression analysis is optional but recommended. If you use regression analysis, please clearly describe the type of regression, dependent and independent variables.
4. Estimate a Wage Range: Determine a wage range that you are likely to earn immediately after graduation for each of the occupations that you choose. The range should be specific and no more than 20% (e.g., if the minimum is $50,000, the maximum should not exceed $60,000). Present your rationale clearly how the range is determined.
Structure of the Report
Your report should be structured as follows:
Title Page: Include your name, course title, assignment title, and date of submission.
Introduction:
Briefly state the major tasks that you need to complete for the assignment.
Identify the occupations you choose to analyze.
Provide a brief overview of the factors influencing wages that you will explore in your report.
Data Collection:
Present the data sources that you will use for obtaining the estimate.
Describe the data provided from the sources and explain why you selected them for you to estimate potential earnings.
Analysis:
Present a detailed analysis of each occupation, including:
Wage data by location, education, and demographic factors.
Discussion of how each factor (location, education, demographic characteristics) impacts potential earnings.
Wage Range Estimation:
Provide a clear wage range for each occupation (within the 20% limit).
Justify the range using the data and analysis provided.
Discussion: Summarize your findings and reflect on how your estimate aligns or contrasts with your expectations.
References: List all the data sources and references used in APA format.
Length and Format:
Page Limit: The report should be between 5 to 8 pages, excluding the title page and references.
Formatting: Use 12-point Times New Roman font, double-spaced, with 1-inch margins.
Grading Criteria:
Your report will be graded based on the following criteria:
Completeness and Relevance (20%): Did you address all aspects of the assignment?
Data Analysis (30%): Quality and depth of the analysis, use of data, and appropriate justification for the wage range.
Clarity and Structure (20%): Is the report well-organized and easy to follow?
Critical Thinking and Insight (20%): Demonstrates understanding of how different factors affect wages.
Proper Citation and References (10%): Correct use of APA format and citation of all data sources.
Note:
This is an individual assignment, you are allowed to discuss with your classmates for the assignment, but you should write the assignment individually and the report should present your original work. Identical or substantially similar submissions are considered as plagiarism,which will lead to 0 grade of the submissions.
You may use AI tools to help you edit the report or assist you with certain parts of analysis; however, content directly generated by AI without any of your original work is considered a form of plagiarism and thus violate academic integrity policy, which will lead to 0 grade of the submission.