Work

Do Elite Universities Overpay Their Faculty?

Year: 2024

Type: article

Abstract: No. Elite institutions offer high salaries because they hire the most valued faculty. Moreover, in contrast to the broader labor market, faculty are equally likely to move up and down the prestige ladder, and they increase their salary either way. We speculate that these facts reflect the visible nature of faculty productivity and the sporadic nature of academic job openings.

Source: The Review of Economics and Statistics

DOI: 10.1162/rest.a.1817

Authors: César Garro-Marín, Shulamit Kahn, Kevin Lang

Institutions: University of Edinburgh, Boston University

Language: English

Topic: Labor market dynamics and wage inequality

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

Funders: National Science Foundation, Washington University in St. Louis