This paper replicates and extends Kuhn and Weinberger's (2005) “Leadership Skills and Wages”. The original article found that those white males who were club presidents and team captains in high school earned significantly more eleven years later. As the empirical relationship between leadership positions and subsequent earnings includes those characteristics that predate high school and those that are developed because of leadership activity participation in high school, the original study cannot differentiate between leadership skills developed earlier and those developed in high school. We employ propensity score matching on leadership exposure in high school to control for potential endogenous observable selection and provide estimates from instrumental variable regressions to assess the robustness of the original effects to other omitted causes. To investigate the generalizability of the original findings, we also extend the sample by including females and non-white males. Lastly, we investigate how an extension of the initial (11-year) time horizon to almost 50 years affects the coefficient estimates. We can corroborate the original effect that those who occupied leadership positions as captains and presidents earn more 11 years after high school and report higher income some 50 years after high school. We fail, however, to find effects for those who occupied only a role as captain or president solely. Moreover, the findings do not generalize to the samples of females and non-white males. Our findings provide important insights into later-life benefits of early leadership exposure and have implications for those designing leadership training programs and those taking on (or refraining from) leadership positions in early life.

本文复制并扩展了 Kuhn 和 Weinberger (2005) 的“领导技能和工资”。最初的文章发现，那些在高中担任俱乐部主席和队长的白人男性十一年后的收入显着增加。由于领导职位与随后收入之间的实证关系包括高中之前的特征和因高中参与领导活动而形成的特征，因此原始研究无法区分早期发展的领导技能和高中发展的领导技能。我们对高中领导暴露采用倾向得分匹配来控制潜在的内生可观察选择，并提供工具变量回归的估计，以评估原始效应对其他遗漏原因的稳健性。为了调查原始研究结果的普遍性，我们还扩大了样本范围，纳入了女性和非白人男性。最后，我们研究了将初始（11 年）时间范围延长至近 50 年如何影响系数估计。我们可以证实最初的效果，即那些担任队长和总裁等领导职务的人在高中毕业后 11 年后收入更高，并在高中毕业后约 50 年后报告收入更高。然而，我们未能找到对那些只担任队长或主席的人的影响。而且，研究结果并不能推广到女性和非白人男性的样本。我们的研究结果为了解早期领导力接触对以后生活的好处提供了重要的见解，并对那些设计领导力培训计划和那些在早期生活中担任（或不担任）领导职位的人有影响。