We examine how first in family (FiF) graduates (those whose parents do not have university degrees) fare on the labor market. We find that among women, FiF graduates earn 7.4% less on average than graduate women whose parents have a university degree. For men, we do not find a FiF wage penalty....

The Dunning-Kruger effect (DKE) states that people with lower levels of the ability tend to self-assess their ability less accurately than people with relatively higher levels of the ability. Thus, the correlation between one's objective cognitive abilities and self-assessed abilities is higher...