Finance Sector Wage Growth and the Role of Human Capital
研究了经合组织国家金融部门的工资溢价,发现英国金融业工资溢价在金融危机后仍持续上升,利润分享是部分子行业工资增长的原因,而人力资本等因素不能完全解释这一溢价。
Abstract We reveal the pervasiveness of the finance sector pay premium, across all OECD countries, as well as all sub‐sectors and occupations within the UK financial sector. Moreover, the UK premium has continued to rise despite the financial crisis. We show that earnings increase faster with value added in certain sub‐sectors of finance, compared to the general economy, providing evidence of profit‐sharing in these sub‐sectors. Other possible explanations, such as workers with higher qualifications or better cognitive skills, or technological change and differing job characteristics, can explain some of the finance sector pay premium, but are not sufficient on their own.