Balancing Study and Work: Heterogeneous Impact of the Bologna Reform on the Labour Market

The Bologna reform, the largest European education reform, was implemented in Russia in 2011. The reform shortened the duration of some undergraduate programmes by 1 year and compressed their curricula. Using a difference-in-differences design, I find that the reform had no short- or medium-term adverse effects on employment. However, I find that null average effects on wages mask considerable heterogeneity. I find that female students with high relative returns worked less during their studies, invested in their human capital, and secured stable wages. In contrast, male students with low relative returns underinvested in human capital and experienced a decline in wages.