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Czech Managerial Compensations: Why Does It Pay Off to Climb the Corporate Ladder?

  • Teodora Paligorova

This paper uses matched employer-employee data for the Czech Republic to study the structure of managerial compensation. The evidence supports two key predictions from tournament theory. First, the managerial pay differential between organizational levels is non-decreasing as one goes up the corporate ladder. I document a particularly large increment of the pay differential at the top of a firm's hierarchy. Second, the winner's prize in the tournament increases with the number of competitors for the position of the top managers.

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Paper provided by The Center for Economic Research and Graduate Education - Economics Institute, Prague in its series CERGE-EI Working Papers with number wp262.

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Date of creation: Jun 2005
Date of revision:
Handle: RePEc:cer:papers:wp262
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  1. François Rycx & Thierry Lallemand & Robert Plasman, 2004. "Intra-firm wage dispersion and firm performance: evidence from linked employer-employee data," ULB Institutional Repository 2013/781, ULB -- Universite Libre de Bruxelles.
  2. Michael Waldman, 1984. "Job Assignments, Signalling, and Efficiency," RAND Journal of Economics, The RAND Corporation, vol. 15(2), pages 255-267, Summer.
  3. Daniel Münich & Jan Svejnar & Katherine Terrell, 2005. "Returns to Human Capital Under The Communist Wage Grid and During the Transition to a Market Economy," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 100-123, February.
  4. Winter-Ebmer, Rudolf & Zweimuller, Josef, 1999. "Intra-Firm Wage Dispersion and Firm Performance," Kyklos, Wiley Blackwell, vol. 52(4), pages 555-72.
  5. Pedro Ortin-Angel & Vicente Salas-Fumas, 2002. "Compensation and Span of Control in Hierarchical Organizations," Journal of Labor Economics, University of Chicago Press, vol. 20(4), pages 848-876, October.
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