Money isn't everything: job satisfaction, nonmonetary job rewards, and sub-baccalaureate credentials.

Abstract

Some researchers and reformers have raised doubts about whether sub-BA credentials lead to good jobs. This study finds that young working adults (ages 25-32) report that nonmonetary rewards such as autonomy and career relevance are more strongly related to job satisfaction than earnings is. Controlling for background differences, young adults with BA and graduate degrees have the greatest nonmonetary job rewards, followed by those with associate's degrees and certificate credentials, all of whom have significantly greater nonmonetary job rewards than high school graduates. Students who attend college without earning credentials report few job rewards, and no better autonomy and career-relevance than high school graduates. Parents, advisors, and policymakers should inform students of nonmonetary job rewards they likely will value as young adult workers in addition to earnings, and which credentials lead to these job rewards.