The impact of formal education on managerial career attainment.

This study explored the role of formal education in career attainment and how this role has changed over time. The study encompassed years of education, subject of degree, timing of degree conferral, and quality of educational institution. The personnel records of an internal labor market large US based company were examined. Two cohorts of managers were studied in the firm. One cohort contained 540 managers, and the second cohort contained 968 managers. These managers all entered the firm in the same year and have stayed with the same firm. Education was found to have a positive effect on career attainment for both cohorts. While the selectivity of the university was related to career attainment for the cohort that entered the firm first, it was not significant for the cohort that entered the firm most recently. Results indicated that possessing a master\u27s degree and majoring in business were positively related to managerial career attainment in an internal labor market