Employer Dominance and Worker Earnings in Finance
研究发现美国大型金融企业支付给工人的平均工资比小型企业高出30.2%，远超非金融行业的7.9%，且这一差距在金融危机期间和高科技行业对比中依然显著，表明大型金融企业的超额收益和工人稀缺技能是主因。
Abstract A few large firms in the U.S. financial system achieve substantial economic gains. Their dominance sets them apart while also raising concerns about the suppression of worker earnings. Utilizing administrative data, this study reveals that the largest financial firms pay workers an average of 30.2% more than their smallest counterparts, significantly exceeding the 7.9% disparity in nonfinance sectors. This positive size-earnings relationship is consistently more pronounced in finance, even during the 2008 crisis or compared to the high-tech sector. Evidence suggests that large financial firms’ excessive gains, coupled with their workers’ sought-after skills, explain this distinct relationship.