Description:
<jats:p>We examine the influence of relative age effects (<jats:styled-content style="fixed-case">RAE</jats:styled-content>) upon specific factors related to earning a Doctor of Philosophy (<jats:styled-content style="fixed-case">PhD</jats:styled-content>): age at degree, time to degree, and salary upon completion. Drawing on the 2010 Survey of Earned Doctorates, we find no significant influence of <jats:styled-content style="fixed-case">RAE</jats:styled-content>. Specifically, when controlling for discipline‐specific variation, we find no influence of <jats:styled-content style="fixed-case">RAE</jats:styled-content> on the age of people earning the <jats:styled-content style="fixed-case">PhD</jats:styled-content> and no influence on post‐graduate salary. However, we estimate a relative salary loss due to redshirting of over $138,000 in lifetime earnings for individuals who earn the <jats:styled-content style="fixed-case">PhD</jats:styled-content>. To the extent that earning the <jats:styled-content style="fixed-case">PhD</jats:styled-content> is considered an outstanding achievement, our findings support the view that redshirting is unnecessary and costly. (<jats:italic>JEL</jats:italic> D01, D12, I20, I28, J24, J44)</jats:p>