This paper looks at the joint impact of labour market risk and selection in to the labour market on returns to … education. Accounting for non-employment risk leads to substantial changes in returns while wage risk has little impact. The … risk- adjusted returns to both high school and college for males are larger than unadjusted returns. For females, risk …

entry requirements so as to reduce their risk of not being admitted to any programme. We also find that females favour field … differences in risk management are concentrated amongst high achieving students. …