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Awards are career catalysts for young talents in highly competitive job markets

Author

Listed:
  • Florian Bünning
  • Ben Chan
  • Sascha L. Schmidt
  • Dominik Schreyer
  • Benno Torgle

Abstract

Despite the potential importance of awards as a possible career catalyst, the theoretical and empirical research on awards is still in its infancy. Here, we address this notable shortcoming in the economic literature by exploring data from German youth football. Analyzing whether an early career award, the so-called Fritz Walter Medal, significantly affects the awardee’s career trajectory in a highly competitive environment, where performance differences are often hardly perceivable, we find that receiving an early career award seems, per se, to be a robust positive signal for a player’s future career success. Intriguingly, though, both the award characteristics, that is, whether it is bestowed in gold, silver, or bronze, and also the exact age at which the awardee receives the bestowal only add limited explanatory power.

Suggested Citation

  • Florian Bünning & Ben Chan & Sascha L. Schmidt & Dominik Schreyer & Benno Torgle, 2021. "Awards are career catalysts for young talents in highly competitive job markets," CREMA Working Paper Series 2021-09, Center for Research in Economics, Management and the Arts (CREMA).
    • Handle: RePEc:cra:wpaper:2021-09
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    More about this item

    Keywords

    Awards; career effects; football/soccer; incentives; personnel economics;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • Z20 - Other Special Topics - - Sports Economics - - - General

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