Salary Determinants of Entry Level Academic Economists and Factors Influencing Hiring on the Tenure Track

Univ. of Alabama EFLS Working Paper 00-03-03

28 Pages Posted: 4 May 2000

See all articles by Gary A. Hoover

Gary A. Hoover

University of Oklahoma

John P. Formby

University of Alabama - Department of Economics, Finance and Legal Studies

Date Written: April 2000

Abstract

This paper examines the characteristics of entry level academic economists and investigates the determinants of market salaries. Contrary to what might be expected we find that nominal salaries are not systematically adjusted to reflect observable differences in the cost of living and salary premiums are not paid to entry-level economists hired into higher ranked departments. Completing one's Ph.D. degree at a university with a highly ranked department, being hired on the tenure track, and accepting a position in a department within a business school with a ranked economics department all significantly influence academic salaries. Being hired on the tenure track is found to be particularly important. After analyzing the factors that influence salaries, we make predictive statements about the impact that observable characteristics have on the probability of being hired into tenure track positions.

JEL Classification: J31

Suggested Citation

Hoover, Gary A. and Formby, John P., Salary Determinants of Entry Level Academic Economists and Factors Influencing Hiring on the Tenure Track (April 2000). Univ. of Alabama EFLS Working Paper 00-03-03, Available at SSRN: https://ssrn.com/abstract=223775 or http://dx.doi.org/10.2139/ssrn.223775

Gary A. Hoover (Contact Author)

University of Oklahoma ( email )

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HOME PAGE: http://https://sites.google.com/site/garyhoovereconomics/economics-622

John P. Formby

University of Alabama - Department of Economics, Finance and Legal Studies ( email )

P.O. Box 870244
Tuscaloosa, AL 35487
United States
205-348-8667 (Phone)
205-348-0590 (Fax)

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