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Why Are Professors "Poorly Paid"?

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  • Hamermesh, Daniel S.

    (University of Texas at Austin)

Abstract

Using Current Population Survey data, I demonstrate a 15-percentage point wage disadvantage among academics compared to all other doctorate-holders with the same demographics. Time-diary data show that academics' workhours are distributed more evenly over the week and day, although their total workweeks are equally long. This smoother distribution of work time accounts for as much as one-third of the wage disadvantage. Survey data (of economists only) indicate that flexible scheduling is an attraction, but only fourth among the characteristics of academic life.

Suggested Citation

  • Hamermesh, Daniel S., 2018. "Why Are Professors "Poorly Paid"?," IZA Discussion Papers 11266, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp11266
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    References listed on IDEAS

    as
    1. Johnson, George E & Stafford, Frank P, 1974. "The Earnings and Promotion of Women Faculty," American Economic Review, American Economic Association, vol. 64(6), pages 888-903, December.
    2. Johnson, George E & Stafford, Frank P, 1974. "Lifetime Earnings in a Professional Labor Market: Academic Economists," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 549-569, May/June.
    3. McDonald, James B. & Sorensen, Jeff, 2017. "Academic salary compression across disciplines and over time," Economics of Education Review, Elsevier, vol. 59(C), pages 87-104.
    4. Scott Stern, 2004. "Do Scientists Pay to Be Scientists?," Management Science, INFORMS, vol. 50(6), pages 835-853, June.
    5. Sam Allgood & William B. Walstad, 2013. "How Economists Allocate Time to Teaching and Research," American Economic Review, American Economic Association, vol. 103(3), pages 654-658, May.
    6. Ronald G. Ehrenberg & Paul J. Pieper & Rachel A. Willis, 1998. "Do Economics Departments With Lower Tenure Probabilities Pay Higher Faculty Salaries?," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 503-512, November.
    7. Hamermesh, Daniel S., 2008. "Direct estimates of household production," Economics Letters, Elsevier, vol. 98(1), pages 31-34, January.
    8. Alexander Sohn, 2016. "Poor university professors? The relative earnings decline of German professors during the twentieth century," Scandinavian Economic History Review, Taylor & Francis Journals, vol. 64(2), pages 84-102, June.
    9. repec:wly:soecon:v:82:2:y:2015:p:430-452 is not listed on IDEAS
    10. Goddeeris, John H, 1988. "Compensating Differentials and Self-selection: An Application to Lawyers," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 411-428, April.
    11. Daniel S. Hamermesh & Harley Frazis & Jay Stewart, 2005. "Data Watch: The American Time Use Survey," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 221-232, Winter.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Karen Mumford & Cristina Sechel, 2020. "Pay and Job Rank among Academic Economists in the UK: Is Gender Relevant?," British Journal of Industrial Relations, London School of Economics, vol. 58(1), pages 82-113, March.
    2. Nikolova, Milena & Cnossen, Femke, 2020. "What makes work meaningful and why economists should care about it," Labour Economics, Elsevier, vol. 65(C).

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    More about this item

    Keywords

    compensating wage differentials; flexibility; time use;
    All these keywords.

    JEL classification:

    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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