How is Postsecondary Education Associated with Membership in the American Corporate Elite?

[摘要] This study contributes to the discussion around the value of a college degree andassociated career advantages by considering how postsecondary education contributes tothe attainment of the most powerful and prestigious positions in the American corporateworld. Guided by a conceptual framework informed by status attainment, power elite,and upper echelon theories, I examined the backgrounds of almost 4,000 top-levelFortune 500 business executives in 2010. The data, including socio-demographics,postsecondary degrees, various undergraduate accomplishments, and companycharacteristics, were collected from a variety of secondary sources. A series of analyses,inspired by the work of Useem and Karabel (1986), compared executives who weresenior managers or outside directors of one company to even more powerful executives.This latter group, referred to as the ;;corporate elite,” were operationalized as CEOs,outside directors of multiple companies, or leaders in major business associations.I found a bachelor’s degree to be almost universally held and few significantdifferences emerged distinguishing the most powerful executives from others in terms oftheir bachelor’s degree source. Focusing more closely on undergraduate academic andextracurricular accomplishments, however, indicated that the corporate elite were morelikely to be involved in certain activities. Also, I observed differences in the levels ofgraduate degree attainment and graduate degree sources. Possessing an MBA degreefrom a top business school or, to a lesser extent from a lower ranked business school,were each positively associated with membership in the business elite. For law schoolgraduates, the likelihood of holding a top position of corporate power was less consistentthan that of MBAs.Ultimately, this paper adds to our understanding of how postsecondary educationmight shape a small and understudied population that is a high status occupational class,the top management team responsible for major corporate decisions, and a powerful innercircle positioned to define national business interests and influence policy.

[发布机构] University of Michigan

[效力级别] Corporate Elite

[关键词] College Effects;Corporate Elite;Occupational Attainment;Education;Social Sciences;Higher Education