Lindley, J. and McIntosh, S. orcid.org/0000-0002-9492-5455 (2017) Finance Sector Wage Growth and the Role of Human Capital. Oxford Bulletin of Economics and Statistics, 79 (4). pp. 570-591. ISSN 1468-0084
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.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2017 The Authors. Oxford Bulletin of Economics and Statistics published by Oxford University and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/), which permits use, distribution and reproduction in any medium, provided the original work is properly cited. |
Keywords: | wage inequality; financial services; cognitive skills; bonuses |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 19 Sep 2016 09:50 |
Last Modified: | 25 Oct 2018 13:39 |
Published Version: | https://doi.org/10.1111/obes.12155 |
Status: | Published |
Publisher: | Wiley |
Refereed: | Yes |
Identification Number: | 10.1111/obes.12155 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:104647 |
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