The returns to seniority in academic labor markets |
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Authors: | James Monks Michael Robinson |
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Institution: | (1) Consortium on Financing Higher Education, 02142 Cambridge, MA;(2) Mount Holyoke College, 01075 South Hadley, MA |
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Abstract: | Although earnings and seniority are believed positively related in most labor markets, the earnings of academics were thought
to be an exception to this rule. Using the National Survey of Postsecondary Faculty, from 1993, we find that earnings and
seniority are positively related once adequate controls for past labor market mobility are included among the regressors.
In particular, we find that individuals who are currently tenured at their initial job have the steepest seniority profile
of any group we examined. We also find a handsome premium paid to individuals who are hired-with-tenure. These results suggest
a market characterized by competitive “raiding” of top faculty. |
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