Economics at your fingertips  

Careers in Finance

Andrew Ellul, Marco Pagano and Annalisa Scognamiglio ()
Additional contact information
Andrew Ellul: Indiana University

No 2007, EIEF Working Papers Series from Einaudi Institute for Economics and Finance (EIEF)

Abstract: The finance wage premium since the 1990s has arguably lured talent away from other industries. However, the allocation of talent is likely to respond to differences in career paths, not in wages at a given date. We use resume data to reconstruct the careers of 11,255 professionals in finance, high-tech and services from 1980 to 2017, and find that careers mostly develop within sectors. Careers in asset management feature higher and steeper pay profiles than those of employees in banking, insurance and non-finance, yet this career premium cannot be explained by higher risk. Labor market entry responds positively to career premia in asset management and high-tech, and these sectors are regarded as substitutes by potential entrants, consistently with high-tech competing with asset management in attracting talent.

Pages: 40 pages
Date: 2020, Revised 2021-12
New Economics Papers: this item is included in nep-ias
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
Working Paper: Careers in Finance (2021) Downloads
Working Paper: Careers in finance (2021) Downloads
Working Paper: Careers in Finance (2020) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in EIEF Working Papers Series from Einaudi Institute for Economics and Finance (EIEF) Contact information at EDIRC.
Bibliographic data for series maintained by Facundo Piguillem ().

Page updated 2024-02-24
Handle: RePEc:eie:wpaper:2007