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Internal labour markets in the Australian banking industry: their nature prior to the Second World War and their recent decline

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  • Andrew Seltzer

Abstract

This paper uses evidence from late nineteenth-and early twentieth-century personnel records of two Australian banks to examine the nature of internal labour markets prior to the Second World War. It is argued that the industry possessed all the classic features of internal labour markets: limited ports of entry, internal promotion, long careers, and assignment of wages by well-defined rules. The paper then examines the reasons why banks adopted internal labour markets. Finally, the paper examines the recent decline of internal labour markets and examines the role of technological and social changes in this decline.

Suggested Citation

  • Andrew Seltzer, 2004. "Internal labour markets in the Australian banking industry: their nature prior to the Second World War and their recent decline," Accounting History Review, Taylor & Francis Journals, vol. 14(3), pages 237-256.
    • Handle: RePEc:taf:acbsfi:v:14:y:2004:i:3:p:237-256
    DOI: 10.1080/0958520042000277757
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    References listed on IDEAS

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    1. Hamilton, Barton & MacKinnon, Mary, 1996. "Quits and Layoffs in Early Twentieth Century Labor Markets," Explorations in Economic History, Elsevier, vol. 33(3), pages 346-366, July.
    2. Nicola Persico & Andrew Postlewaite & Dan Silverman, 2004. "The Effect of Adolescent Experience on Labor Market Outcomes: The Case of Height," Journal of Political Economy, University of Chicago Press, vol. 112(5), pages 1019-1053, October.
    3. H. M. Boot, 1991. "Salaries and career earnings in the Bank of Scotland, 1730-1880," Economic History Review, Economic History Society, vol. 44(4), pages 629-653, November.
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    Cited by:

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    2. Bernardo Bátiz-Lazo, 2017. "Between Novelty and Fashion: Risk Management and the Adoption of Computers in Retail Banking," Palgrave Studies in the History of Finance, in: Korinna Schönhärl (ed.), Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century, pages 189-207, Palgrave Macmillan.

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