DOI: 10.1162/rest.a.1817 ISSN: 0034-6535
Do Elite Universities Overpay Their Faculty?
César Garro-Marín, Shulamit Kahn, Kevin LangAbstract
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.