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Seniority, external labor markets, and faculty pay

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  • Brown, Byron W.
  • Woodbury, Stephen A.

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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(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Brown, Byron W. & Woodbury, Stephen A., 1998. "Seniority, external labor markets, and faculty pay," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(4), pages 771-798.
  • Handle: RePEc:eee:quaeco:v:38:y:1998:i:4:p:771-798
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Ward-Warmedinger, Melanie E., 1999. "Salary and the Gender Salary Gap in the Academic Profession," IZA Discussion Papers 64, Institute for the Study of Labor (IZA).
    2. Bernt Bratsberg & James F. Ragan & John T. Warren, 2010. "Does Raiding Explain The Negative Returns To Faculty Seniority?," Economic Inquiry, Western Economic Association International, vol. 48(3), pages 704-721, July.
    3. Nelson, Paul A. & Monson, Terry, 2006. "Research Funding, Experience, and Seniority in Academia," Review of Applied Economics, Review of Applied Economics, vol. 2(1).
    4. Wendy A. Stock & John J. Siegfried, 2006. "Where Are They Now? Tracking the Ph.D. Class of 1997," Southern Economic Journal, Southern Economic Association, vol. 73(2), pages 472-488, October.
    5. Debra A. Barbezat & James W. Hughes, 2001. "The Effect Of Job Mobility On Academic Salaries," Contemporary Economic Policy, Western Economic Association International, vol. 19(4), pages 409-423, October.
    6. Rob Euwals & Melanie Ward, "undated". "The Remuneration of British Academics," Discussion Papers in Public Sector Economics 00/7, Department of Economics, University of Leicester.
    7. Rob Euwals & Melanie Ward, 2005. "What matters most: teaching or research? Empirical evidence on the remuneration of British academics," Applied Economics, Taylor & Francis Journals, vol. 37(14), pages 1655-1672.
    8. Toumanoff, Peter, 2005. "The effects of gender on salary-at-hire in the academic labor market," Economics of Education Review, Elsevier, vol. 24(2), pages 179-188, April.
    9. repec:eee:ecoedu:v:59:y:2017:i:c:p:87-104 is not listed on IDEAS
    10. 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.
    11. Euwals, Rob & Ward-Warmedinger, Melanie E., 2000. "The Remuneration of British Academics," IZA Discussion Papers 178, Institute for the Study of Labor (IZA).
    12. Sun, Minghe, 2002. "A multiple objective programming approach for determining faculty salary equity adjustments," European Journal of Operational Research, Elsevier, vol. 138(2), pages 302-319, April.

    More about this item

    JEL classification:

    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

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