IDEAS home Printed from https://ideas.repec.org/a/aop/jijoss/v10y2021i2p15-30.html
   My bibliography  Save this article

Is there a Trade-Off between Financial Rewards and Other Job Benefits? Different Career Pathways for two Groups of Management Students

Author

Listed:
  • Leiv Opstad

    (Norwegian University of Science and Technology)

Abstract

The unemployment rate in Norway is low. More than 30 per cent work in the public sector and there is a shortage of labour, especially in the health and education sectors. This article seeks to find out more about why some choose to study within health and education and pursue a career there while others put finances or business education as their priority. Which factors influence this choice? Students’ responses to questionnaires reveal that there are some significant differences. The results indicate a trade-off between high salaries and other job benefits. Compared to business and economics students, financial rewards count for less for those selecting public sector work. They accept lower wages in compensation for job security and personal contentment. Other factors that have implications for educational choices are personal characteristics (Big Five) and interests. Furthermore, there is a substantial gap between females selecting business and financial education and females who prefer a personal-oriented job in the public sector. The methods used in this paper are comparison of means (t-test) and standard linear regression.

Suggested Citation

  • Leiv Opstad, 2021. "Is there a Trade-Off between Financial Rewards and Other Job Benefits? Different Career Pathways for two Groups of Management Students," International Journal of Social Sciences, European Research Center, vol. 10(2), pages 15-30, September.
    • Handle: RePEc:aop:jijoss:v:10:y:2021:i:2:p:15-30
    as

    Download full text from publisher

    File URL: https://eurrec.org/ijoss-article-116950
    Download Restriction: no
    File URL: https://eurrec.org/ijoss-article-116950?download=2
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Palina Prysmakova, 2021. "Contact with citizens and job satisfaction: expanding person-environment models of public service motivation," Public Management Review, Taylor & Francis Journals, vol. 23(9), pages 1339-1358, September.
    2. Laura J. Ahlstrom & Carlos J. Asarta, 2019. "The Gender Gap in Undergraduate Economics Course Persistence and Degree Selection," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 255-260, May.
    3. Frank Hager, 2021. "The Impact of Personality Traits on the Burnout promoting Effect of poor Supervisor Support," International Journal of Social Sciences, European Research Center, vol. 10(1), pages 17-38, March.
    4. Quinn, Joseph F. & Cahill, Kevin E. & Giandrea, Michael D., 2019. "Transitions from career employment among public- and private-sector workers," Journal of Pension Economics and Finance, Cambridge University Press, vol. 18(4), pages 529-548, October.
    5. Paul Redmond & Seamus Mcguinness, 2019. "The Gender Wage Gap in Europe: Job Preferences, Gender Convergence and Distributional Effects," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 81(3), pages 564-587, June.
    6. Christopher Flinn & Petra Todd & Weilong Zhang, 2020. "Personality Traits, Job Search and the Gender Wage Gap," Working Papers 2020-010, Human Capital and Economic Opportunity Working Group.
    7. Romana Lisnerova & Jana Marie ?afránková & Eva Urbanová, 2020. "Managerial Competencies and Education Need of School Headmasters in the Czech Republic," International Journal of Teaching and Education, International Institute of Social and Economic Sciences, vol. 8(1), pages 33-46, April.
    8. Matthew Wiswall & Basit Zafar, 2015. "How Do College Students Respond to Public Information about Earnings?," Journal of Human Capital, University of Chicago Press, vol. 9(2), pages 117-169.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Leiv OPSTAD, 2022. "Attitudes Of Master Students Working In The Public Sector Towards Management Education. Does Economics’ Theory Matter?," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 14(4), pages 37-46, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Veronica Minaya & Judith Scott-Clayton, 2018. "Labor Market Outcomes and Postsecondary Accountability: Are Imperfect Metrics Better Than None?," NBER Chapters, in: Productivity in Higher Education, pages 67-104, National Bureau of Economic Research, Inc.
    2. Bobba, Matteo & Frisancho, Veronica, 2022. "Self-perceptions about academic achievement: Evidence from Mexico City," Journal of Econometrics, Elsevier, vol. 231(1), pages 58-73.
    3. Salah Gad & Walaa Elsayed, 2023. "Relationship Between Perceived Organizational Politics and Job Satisfaction Among NGO Social Workers," Public Organization Review, Springer, vol. 23(2), pages 793-804, June.
    4. Bobba, Matteo & Frisancho, Veronica, 2016. "Learning about Oneself: The Effects of Performance Feedback on School Choice," IZA Discussion Papers 10360, Institute of Labor Economics (IZA).
    5. Jaison R. Abel & Richard Deitz, 2017. "Underemployment in the Early Careers of College Graduates following the Great Recession," NBER Chapters, in: Education, Skills, and Technical Change: Implications for Future US GDP Growth, pages 149-181, National Bureau of Economic Research, Inc.
    6. Frohnweiler, Sarah & Beber, Bernd & Ebert, Cara, 2022. "Information frictions, belief updating and internal migration: Evidence from Ghana and Uganda," Ruhr Economic Papers 987, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    7. Johannes S. Kunz & Kevin E. Staub, 2016. "Subjective completion beliefs and the demand for post-secondary education," Economics of Education Working Paper Series 0120, University of Zurich, Department of Business Administration (IBW).
    8. Christopher Avery & Oded Gurantz & Michael Hurwitz & Jonathan Smith, 2018. "Shifting College Majors in Response to Advanced Placement Exam Scores," Journal of Human Resources, University of Wisconsin Press, vol. 53(4), pages 918-956.
    9. Zhaowen Liu & Martin de Jong & Fen Li & Nikki Brand & Marcel Hertogh & Liang Dong, 2020. "Towards Developing a New Model for Inclusive Cities in China—The Case of Xiong’an New Area," Sustainability, MDPI, vol. 12(15), pages 1-24, July.
    10. Aswini Kumar Mishra & Vedant Bhardwaj, 2021. "Wealth distribution and accounting for changes in wealth inequality: empirical evidence from India, 1991–2012," Economic Change and Restructuring, Springer, vol. 54(2), pages 585-620, May.
    11. Annalisa Loviglio, 2023. "School Quality Beyond Test Scores: the Role of Schools in Shaping Educational Outcomes," Working Papers wp1184, Dipartimento Scienze Economiche, Universita' di Bologna.
    12. Delaney, Judith M. & Devereux, Paul J., 2019. "Understanding gender differences in STEM: Evidence from college applications✰," Economics of Education Review, Elsevier, vol. 72(C), pages 219-238.
    13. Shimeng Liu & Weizeng Sun & John V. Winters, 2019. "Up In Stem, Down In Business: Changing College Major Decisions With The Great Recession," Contemporary Economic Policy, Western Economic Association International, vol. 37(3), pages 476-491, July.
    14. Todd Pugatch & Elizabeth Schroeder, 2024. "A simple nudge increases socioeconomic diversity in undergraduate Economics," Economic Inquiry, Western Economic Association International, vol. 62(1), pages 287-307, January.
    15. Christopher Neilson & Adam Altmejd & Andres Barrios-Fernandez & Marin Drlje & Dejan Kovac, 2019. "Siblings' Effects on College and Major Choices: Evidence from Chile, Croatia and Sweden," Working Papers 633, Princeton University, Department of Economics, Industrial Relations Section..
    16. Gabi Xuan Jiang, 2018. "Planting the Seeds for Success: Why Women in STEM Don't Stick in The Field," Purdue University Economics Working Papers 1307, Purdue University, Department of Economics.
    17. Giovanni Abbiati & Carlo Barone, 2017. "Is university education worth the investment? The expectations of upper secondary school seniors and the role of family background," Rationality and Society, , vol. 29(2), pages 113-159, May.
    18. Clark, Andrew E. & D’Ambrosio, Conchita & Zhu, Rong, 2021. "Job quality and workplace gender diversity in Europe," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 420-432.
    19. Fouarge, Didier & Heß, Pascal, 2023. "Preference-choice mismatch and university dropout," Labour Economics, Elsevier, vol. 83(C).
    20. Chen Liang & Yili Hong & Bin Gu & Jing Peng, 2018. "Gender Wage Gap in Online Gig Economy and Gender Differences in Job Preferences," Working Papers 18-03, NET Institute.

    More about this item

    Keywords

    Public and private sectors; job benefits; financial rewards; management; career; Big Five personality traits;
    All these keywords.

    JEL classification:

    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J45 - Labor and Demographic Economics - - Particular Labor Markets - - - Public Sector Labor Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aop:jijoss:v:10:y:2021:i:2:p:15-30. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jiri Rotschedl (email available below). General contact details of provider: https://ijoss.eurrec.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.