Professional school grads from diverse classes get higher salaries

A new study shows that graduates from professional schools (law, medicine, MBA) earn significantly more if they come from diverse socioeconomic backgrounds, upending the narrative that elite degrees only pay off for the already-wealthy. The data reveals that first-generation students earn an average of 18% higher salaries within five years of graduation compared to their peers from wealthier backgrounds, controlling for school and field. This finding is 30% larger in effect than the average advantage reported in similar research on undergraduate degrees, highlighting a unique boost for professional school graduates. The results challenge assumptions about meritocracy and suggest that diversity itself drives financial success.