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The Earnings and Consulting Income of US Health Economists: Results from the 2012 Survey of the American Society of Health Economists

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Listed:
  • John H. Cawley

    (Cornell University)

  • Michael A. Morrisey

    (Texas A&M University)

  • Kosali I. Simon

    (Indiana University, Bloomington)

Abstract

This paper presents data from the first-ever survey of members of the American Society of Health Economists (ASHEcon) that was conducted in 2012. We present summary statistics of health economist earnings by rank and type of employer, and estimate log earnings models as a function of education, experience, type of employer, and research productivity. The results indicate that (1) academic salaries for health economists have risen in real terms since the previous survey in 2005; (2) we find no statistically significant evidence of disparities in academic salaries between men and women, or between whites and nonwhites; (3) there is a salary premium associated with earning a PhD at one of the top economics departments; and (4) we cannot reject the null hypothesis of no difference in salary by type of employer. We also report on the extent of consulting activities, and provide the first published data on the hourly consulting rates charged by health economists.

Suggested Citation

  • John H. Cawley & Michael A. Morrisey & Kosali I. Simon, 2015. "The Earnings and Consulting Income of US Health Economists: Results from the 2012 Survey of the American Society of Health Economists," American Journal of Health Economics, MIT Press, vol. 1(2), pages 255-274, Spring.
    • Handle: RePEc:tpr:amjhec:v:1:y:2015:i:2:p:255-274
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    References listed on IDEAS

    as
    1. John P. Conley & Mario J. Crucini & Robert A. Driskill & Ali Sina Önder, 2013. "The Effects Of Publication Lags On Life-Cycle Research Productivity In Economics," Economic Inquiry, Western Economic Association International, vol. 51(2), pages 1251-1276, April.
    2. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
    3. Stock, Wendy A & Siegfried, John J, 2001. "So You Want to Earn a Ph.D. in Economics: How Much Do You Think You'll Make?," Economic Inquiry, Western Economic Association International, vol. 39(2), pages 320-335, April.
    4. Wagstaff, Adam & Culyer, Anthony J., 2012. "Four decades of health economics through a bibliometric lens," Journal of Health Economics, Elsevier, vol. 31(2), pages 406-439.
    5. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, March.
    6. John P. Conley & Ali Sina Onder, 2014. "The Research Productivity of New PhDs in Economics: The Surprisingly High Non-success of the Successful," Journal of Economic Perspectives, American Economic Association, vol. 28(3), pages 205-216, Summer.
    7. Goodall, Amanda H. & McDowell, John M. & Singell, Larry D., 2014. "Leadership and the Research Productivity of University Departments," IZA Discussion Papers 7903, Institute of Labor Economics (IZA).
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    More about this item

    Keywords

    health economics; economics; salaries.;
    All these keywords.

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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