Although companies have focused greater attention on the need for ethical practices over the past few decades, male business professionals who self-report high ethical character earn, on average, 3.4% less than their peers who don’t report having such standards, according to an analysis of data on thousands of students by Andrew Hussey of the University of Memphis.

Moreover, men who reported that their MBA programs enhanced their ethical standards received 6.5% lower wages than men who reported no such gain. For women, the situation is different: Female professionals who self-report high ethical standards receive no pay penalty, and women who said that their schooling had raised their standards received a premium averaging 5.5%.