Prestige, Promotion, and Pay

IF 7.6 1区 经济学 Q1 BUSINESS, FINANCE Journal of Finance Pub Date : 2023-12-11 DOI:10.1111/jofi.13301
DANIEL FERREIRA, RADOSLAWA NIKOLOWA
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引用次数: 0

Abstract

We develop a theory in which financial (and other professional services) firms design career structures to “sell” prestigious jobs to qualified candidates. Firms create less prestigious entry-level jobs, which serve as currency for employees to pay for the right to compete for the more prestigious jobs. In optimal career structures, entry-level employees (“associates”) compete for better-paid and more prestigious positions (“managing directors” or “partners”). The model provides new implications relating job prestige to compensation, employment, competition, and the size of the financial sector.

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声望、晋升和薪酬
我们提出了这样一种理论:金融(和其他专业服务)公司设计职业结构,向合格的求职者 "出售 "有声望的职位。公司设立一些声望较低的初级职位,作为员工支付竞争声望较高职位的权利的货币。在最佳职业结构中,入门级员工("助理")竞争薪酬更高、声望更高的职位("总经理 "或 "合伙人")。该模型提供了工作声望与薪酬、就业、竞争和金融行业规模之间的新关系。
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来源期刊
Journal of Finance
Journal of Finance Multiple-
CiteScore
12.90
自引率
2.50%
发文量
88
期刊介绍: The Journal of Finance is a renowned publication that disseminates cutting-edge research across all major fields of financial inquiry. Widely regarded as the most cited academic journal in finance, each issue reaches over 8,000 academics, finance professionals, libraries, government entities, and financial institutions worldwide. Published bi-monthly, the journal serves as the official publication of The American Finance Association, the premier academic organization dedicated to advancing knowledge and understanding in financial economics. Join us in exploring the forefront of financial research and scholarship.
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