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Gender Differences in Executive Compensation and Job Mobility

  • George-Levi Gayle
  • Limor Golan
  • Robert A. Miller

Fewer women than men become executive managers. They earn less over their careers, hold more junior positions, and exit the occupation at a faster rate. We compiled a large panel data set on executives and formed a career hierarchy to analyze mobility and compensation. We find, controlling for executive rank and background, that women earn higher compensation than men, experience more income uncertainty, and are promoted more quickly. Among survivors, being female increases the chance of becoming chief executive officer. The unconditional gender pay gap and job-rank differences are primarily attributable to female executives exiting the occupation at higher rates than men.

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Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 30 (2012)
Issue (Month): 4 ()
Pages: 829 - 872

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Handle: RePEc:ucp:jlabec:doi:10.1086/666615
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  1. George-Levi Gayle & Robert A. Miller, 2005. "Has Moral Hazard Become a More Important Factor in Managerial Compensation?," GSIA Working Papers 2005-E58, Carnegie Mellon University, Tepper School of Business.
  2. Dan A. Black & Amelia M. Haviland & Seth G. Sanders & Lowell J. Taylor, 2008. "Gender Wage Disparities among the Highly Educated," Journal of Human Resources, University of Wisconsin Press, vol. 43(3), pages 630-659.
  3. Baker, George & Gibbs, Michael & Holmstrom, Bengt, 1994. "The Wage Policy of a Firm," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 921-55, November.
  4. Baker, George & Gibbs, Michael & Holmstrom, Bengt, 1994. "The Internal Economics of the Firm: Evidence from Personnel Data," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 881-919, November.
  5. Treble, John & van Gameren, Edwin & Bridges, Sarah & Barmby, Tim, 2001. "The internal economics of the firm: further evidence from personnel data," Labour Economics, Elsevier, vol. 8(5), pages 531-552, December.
  6. George-Levi Gayle & Robert A. Miller, 2009. "Insider Information and Performance Pay," CESifo Economic Studies, CESifo, vol. 55(3-4), pages 515-541.
  7. George-Levi Gayle & Limor Golan, . "Estimating a Dynamic Adverse Selection Model: Labor Force Experience and the Changing Gender Earnings Gap 1968-93," GSIA Working Papers 2006-E40, Carnegie Mellon University, Tepper School of Business.
  8. Pekkarinen, Tuomas & Vartiainen, Juhana, 2004. "Gender Differences in Job Assignment and Promotion on a Complexity Ladder of Jobs," IZA Discussion Papers 1184, Institute for the Study of Labor (IZA).
  9. Claudia Olivetti & Stefania Albanesi, 2007. "Gender And Dynamic Agency: Theory And Evidence On The Compensation Of Female Top Executives," 2007 Meeting Papers 894, Society for Economic Dynamics.
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