Cognizant of the persistent concerns about the misalignment of skills and education with industry and occupation needs, this paper investigates the returns to professional licenses alongside education-occupation matching. It also analyzes the effects of individual and higher education attributes on basic pay. Results indicate that individual and school characteristics are important, but labor market experiences and structural mismatches play a more significant role in determining pay premiums. There are observed payoffs in holding a license when education and occupation credentials align. Beyond reforms in the education sector, policies are needed to ensure that education and learning lead to desirable labor market outcomes.
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