A new working paper by economists at Princeton and the University of Bonn has found that the average American CEO is now 61, up from 51 two decades ago. The study, which looked at a database of over 50,000 leaders, found that older leaders tend to manage businesses that grow slowly and are less likely to radically innovate, but are also better at managing companies through uncertain economic times. This trend is also not just about demographics, but also the average age of a college-educated worker rose only two years over the same period. Companies, particularly small ones, tend to prefer older leaders with longer and diverse career paths. Despite this, the current Congress is the third oldest ever and the average senator age is 63.8 and the House is 57.7.