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Why Are Professors "Poorly Paid"?

Author

Listed:
  • Daniel S. Hamermesh

Abstract

Using Current Population Survey data, I demonstrate a 15-percentage point wage disadvantage among academics compared to all other doctorate-holders with the same demographics. Time-diary data show that academics’ work hours are distributed more evenly over the week and day, although their total workweeks are equally long. This smoother distribution of work time accounts for as much as one-third of the wage disadvantage. Survey data (of economists only) indicate that flexible scheduling is an attraction, but only fourth among the characteristics of academic life.

Suggested Citation

  • Daniel S. Hamermesh, 2018. "Why Are Professors "Poorly Paid"?," NBER Working Papers 24215, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:24215
    Note: LS
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    Cited by:

    1. Karen Mumford & Cristina Sechel, 2020. "Pay and Job Rank among Academic Economists in the UK: Is Gender Relevant?," British Journal of Industrial Relations, London School of Economics, vol. 58(1), pages 82-113, March.
    2. Nikolova, Milena & Cnossen, Femke, 2020. "What makes work meaningful and why economists should care about it," Labour Economics, Elsevier, vol. 65(C).

    More about this item

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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