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Where Are They Now? Tracking the Ph.D. Class of 1997

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  • Wendy A. Stock
  • John J. Siegfried

Abstract

We report early career outcomes of economics Ph.D.s by tracking the U.S. class of 1996‐1997. We examine employment outcomes, work activities, salaries, and graduates' attitudes toward their jobs. By 2003, all of the respondents were employed, although almost half changed employers during the six years. Salaries of the cohort increased at an average annual rate of 8.2% from 1997 through 2003. Academic‐year salaries rose about 5.7% per year, whereas private sector salaries skyrocketed at 15% per year. Finally, the median salaries of first‐year full‐time permanent 9‐ to 10‐month academic economists hired in 2002‐2003 actually exceed the median 2003 salaries of their counterparts initially hired in 1997‐1998. Some of this apparent salary inversion reflects a different mix of employers and departments between the two cohorts, with the younger group securing relatively more jobs at higher‐paying institutions.

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  • Wendy A. Stock & John J. Siegfried, 2006. "Where Are They Now? Tracking the Ph.D. Class of 1997," Southern Economic Journal, John Wiley & Sons, vol. 73(2), pages 472-488, October.
    • Handle: RePEc:wly:soecon:v:73:y:2006:i:2:p:472-488
    DOI: 10.1002/j.2325-8012.2006.tb00782.x
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    Cited by:

    1. Christiana Hilmer & Michael Hilmer, 2010. "Do Public Ph.D.-Granting Economics Departments Invert Salaries?," Economics Bulletin, AccessEcon, vol. 30(2), pages 924-932.
    2. John J. Siegfried & Wendy A. Stock, 2007. "The Undergraduate Origins of PhD Economists," The Journal of Economic Education, Taylor & Francis Journals, vol. 38(4), pages 461-482, September.
    3. Jörg Heining & Jürgen Jerger & Jörg Lingens, 2008. "Deutsche Hochschulkarrieren im Fach Volkswirtschaftslehre. Eine deskriptive Analyse von Lebenslaufdaten," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(3), pages 306-328, August.
    4. John P. Conley & Mario J. Crucini & Robert A. Driskill & Ali Sina Onder, 2011. "Incentives and the Effects of Publication Lags on Life Cycle Research Productivity in Economics," Vanderbilt University Department of Economics Working Papers 1122, Vanderbilt University Department of Economics.

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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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