Elite colleges lower women's wages
overcomingbias.com
overcomingbias.com
Typically the woman works in some job she derives utility from (often arts, fashion, teaching or nonprofits) while the man works in finance. Their lifestyle (or even 50% of it) would be completely unsustainable on her salary alone. A rich husband enables her to pursue minimally remunerative work.
Anyway, other explanations could be that the result is not real (which Hanson does discuss at the end), or that women from these colleges choose lesser-paying careers for some reason other than that they are married to rich men ... perhaps women at elite colleges 25 years ago were unusually interested in charity work. I don't think Hanson's proposed explanation is necessarily wrong, but that phrase "why don't they want us to hear about this?" really rubs me the wrong way.
You'd also need to control for major to mitigate this.
Anecdotally, more women than men who graduated from my university in subjects with higher earning potential went on to lower paying careers in the art world and other creative fields.
I'd note that people who go to extremely selective colleges and are white (and maybe asian) are almost definitely from a pretty well-off family. The study did notice that black and hispanic people showed a huge income increase, so maybe the people who were already well off felt less of a need to make money, they take some socially beneficial or interesting-to-them job in exchange for less pay.
Another note.. this is on earnings 20 years later, which might make sense for a few reasons but also means that things could have changed in the last 20 years (not that I have a reason to think they have).
That said, those are just conjectures -- I think it's more interesting that the result was so jarring to them they didn't bother following up with some sort of potential explanation.
I wouldn't be at all surprised that they do this with 1995 data and the results are completely different.