Where Are They Now? Tracking the Ph.D. Class of 1997
Working Paper No. 06-W05
Wendy A. Stock and John J. Siegfried
ABSTRACT [article]
We report early career outcomes of economics Ph.D.s by
tracking the U.S. class of 1996-97. We examine employment outcomes,
work activities, salaries, and graduates' attitudes toward their jobs.
By 2003, all of the respondents were employed, although almost half
changed employers during the six years. Salaries of the cohort
increased at an average annual rate of 8.2 percent from 1997 through
2003. Academic-year salaries rose about 5.7 percent per year, while
private sector salaries skyrocketed at 15 percent per year. Finally,
the median salaries of first-year full-time permanent 9-10 month
academic economists hired in 2002-03 actually exceed the 2003 salaries
of their counterparts initially hired in 1997-98. Some of this apparent
salary inversion reflects a different mix of employers and departments
between the two cohorts, with the younger group securing relatively more
jobs at higher paying institutions.
Keywords and Phrases: Economists, employment, salaries
JEL Classification Number: A11, J44, J40, J30