Inside Higher Ed. September 3, 2013. College Measures, which produces state-by-state college performance data, has released a report of key takeaways about the earnings of college graduates in five states. Associate degrees and certificates often hold their own in the job market relative to bachelor's degrees, the report found. It also said the value of credentials in STEM fields are sometimes oversold by policy makers. And the discipline in which students earned a credential influences their wages more than which college they attended. College Measures, which is a joint venture of the American Institutes for Research and Matrix Knowledge Group, created the study based on data from Arkansas, Colorado, Tennessee, Texas and Virginia.