The purpose of this paper is to examine the determinants of the variation inCzech managers' pay levels. The main questions we attempted to answer: Arethe managers in stateowned firms compensated differently than those inprivate owned firms? How much of hte difference in pay is explained bydifferences in individual characteristics and job levels? What is theimportance of the regional location or the industry affiliation of the firmsfor managerial pay differentials? For this purpose we used data from across-section of Czech managers in 1996 and estimated earnings equationsaugmented with a host of explanatory variables related to firm and jobcharacteristics.
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