PERSONAL VALUES: WHAT ARE THEY WORTH?

This paper examines the impact on earnings for those who had previously served in the U.S. Armed Forces. While it is well known that additional education leads to higher earnings, the question addressed here is whether military experience can also lead to higher average earnings. Are there other things that are learned while in the military that are valued by private employers? Specifically, are the values taught by the military later rewarded in the private sector? The answer appears to be yes for those persons with a high school diploma but less than a bachelor's degree. And this premium holds for both Whites and African-Americans and across age groups. [ABSTRACT FROM AUTHOR]