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Seniority, External Labor Markets, and Faculty Pay

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Author Info
Byron W. Brown (Michigan State University)
Stephen A. Woodbury () (W.E. Upjohn Institute for Employment Research)

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Abstract

We estimate the returns to seniority (the wage-tenure profile) for university faculty, and the degree to which these returns respond to entry-level salaries (or opportunity wages) a relationship unexplored in work to date. Using data on faculty at a Big Ten university (ours), we estimate elasticities of senior-faculty salaries with respect to entry-level salaries, and find that these elasticities decline with seniority. The evidence both provides an explanation of faculty salary compression and suggests the importance of controlling for entry-level salaries in obtaining estimates of the returns to seniority.

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Publisher Info
Paper provided by W.E. Upjohn Institute for Employment Research in its series Staff Working Papers with number 95-37.

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Date of creation: May 1995
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Handle: RePEc:upj:weupjo:95-37

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Related research
Keywords: faculty; wages; college; labor; markets; Brown; Woodbury;

Other versions of this item:

Find related papers by JEL classification:
J0 - Labor and Demographic Economics - - General
J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Hallock, Kevin F, 1995. "Seniority and Monopsony in the Academic Labor Market: Comment," American Economic Review, American Economic Association, vol. 85(3), pages 654-57, June. [Downloadable!] (restricted)
    Other versions:
  2. Ransom, Michael R, 1993. "Seniority and Monopsony in the Academic Labor Market," American Economic Review, American Economic Association, vol. 83(1), pages 221-33, March. [Downloadable!] (restricted)
  3. 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 549-69, May/June. [Downloadable!] (restricted)
  4. Louis S. Jacobson & Robert J. LaLonde & Daniel Sullivan, 1992. "Earnings Losses of Displaced Workers," Staff Working Papers 92-11, W.E. Upjohn Institute for Employment Research. [Downloadable!] (restricted)
    Other versions:
  5. Katharine G. Abraham & Henry S. Farber, 1987. "Job Duration, Seniority, and Earnings," NBER Working Papers 1819, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  6. Lazear, Edward P, 1981. "Agency, Earnings Profiles, Productivity, and Hours Restrictions," American Economic Review, American Economic Association, vol. 71(4), pages 606-20, September. [Downloadable!] (restricted)
  7. Hashimoto, Masanori, 1981. "Firm-Specific Human Capital as a Shared Investment," American Economic Review, American Economic Association, vol. 71(3), pages 475-82, June. [Downloadable!] (restricted)
  8. Altonji, Joseph G & Shakotko, Robert A, 1987. "Do Wages Rise with Job Seniority?," Review of Economic Studies, Blackwell Publishing, vol. 54(3), pages 437-59, July. [Downloadable!] (restricted)
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  9. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 972-90, October. [Downloadable!] (restricted)
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  10. Brown, James N, 1989. "Why Do Wages Increase with Tenure? On-the-Job Training and Life-Cycle Wage Growth Observed within Firms," American Economic Review, American Economic Association, vol. 79(5), pages 971-91, December. [Downloadable!] (restricted)
  11. Topel, Robert H, 1991. "Specific Capital, Mobility, and Wages: Wages Rise with Job Seniority," Journal of Political Economy, University of Chicago Press, vol. 99(1), pages 145-76, February. [Downloadable!] (restricted)
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  12. Hutchens, Robert M, 1989. "Seniority, Wages and Productivity: A Turbulent Decade," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 49-64, Fall. [Downloadable!] (restricted)
  13. Walter Y. Oi, 1962. "Labor as a Quasi-Fixed Factor," Journal of Political Economy, University of Chicago Press, vol. 70, pages 538. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Euwals, Rob & Ward-Warmedinger, Melanie, 2000. "What Matters Most: Teaching or Research? Empirical Evidence on the Remuneration of British Academics," CEPR Discussion Papers 2628, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  2. Euwals, Rob & Ward, Melanie, 2000. "The Remuneration of British Academics," IZA Discussion Papers 178, Institute for the Study of Labor (IZA). [Downloadable!]
  3. Wendy A. Stock & John J. Siegfried, 2006. "Where are they Now? Tracking the Ph.D. Class of 1997," Working Papers 0605, Department of Economics, Vanderbilt University. [Downloadable!]
    Other versions:
  4. Rob Euwals & Melanie Ward, . "The Remuneration of British Academics," Discussion Papers in Public Sector Economics 00/7, Department of Economics, University of Leicester. [Downloadable!]
  5. Nelson, Paul A. & Monson, Terry, 2006. "Research Funding, Experience, and Seniority in Academia," Review of Applied Economics, Review of Applied Economics, vol. 2(1). [Downloadable!]
  6. Rob Euwals & Melanie E. Ward, 2005. "What matters most: teaching or research? Empirical evidence on the remuneration of British academics," Applied Economics, Taylor and Francis Journals, vol. 37(14), pages 1655-1672, August. [Downloadable!] (restricted)
  7. Ward, Melanie, 1999. "Salary and the Gender Salary Gap in the Academic Profession," IZA Discussion Papers 64, Institute for the Study of Labor (IZA). [Downloadable!]
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