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Much Ado about Nothing? The Wage Penalty of Holding a PhD Degree but Not a PhD Job Position☆

In: Skill Mismatch in Labor Markets

Author

Listed:
  • Giuseppe Lucio Gaeta
  • Giuseppe Lubrano Lavadera
  • Francesco Pastore

Abstract

This paper contributes to the literature on overeducation by empirically investigating the wage penalty of job–education mismatch among PhD holders who completed their studies in Italy; a country where the number of new doctoral recipients has dramatically increased over recent years while personnel employed in R&D activities is still below the European average. We use cross-sectional micro-data collected in 2009 and rely on different definitions of education–job mismatch such as, overeducation, overskilling, and dissatisfaction with the use of skills. We find that overeducation and skills dissatisfaction are associated with significantly lower wages but there is no wage penalty from overskilling. Furthermore, those who simultaneously report overeducation and skills dissatisfaction experience a particularly high wage penalty.

Suggested Citation

  • Giuseppe Lucio Gaeta & Giuseppe Lubrano Lavadera & Francesco Pastore, 2017. "Much Ado about Nothing? The Wage Penalty of Holding a PhD Degree but Not a PhD Job Position☆," Research in Labor Economics, in: Skill Mismatch in Labor Markets, volume 45, pages 243-277, Emerald Group Publishing Limited.
  • Handle: RePEc:eme:rleczz:s0147-912120170000045007
    DOI: 10.1108/S0147-912120170000045007
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    Citations

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    Cited by:

    1. Rycx, François & Santosuosso, Giulia & Vermeylen, Guillaume, 2022. "The Over-Education Wage Penalty among PhD Holders: A European Perspective," IZA Discussion Papers 15417, Institute of Labor Economics (IZA).
    2. Pastore, Francesco, 2020. "The quasi-market of employment services in Italy," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1248-1269.
    3. Giulio Marini, 2021. "The employment destination of PhD-holders in Italy: non-academic funded projects as drivers of successful segmentation," DoQSS Working Papers 21-16, Quantitative Social Science - UCL Social Research Institute, University College London.
    4. Alfano, Vincenzo & D'Uva, Marcella & De Simone, Elina & Gaeta, Giuseppe Lucio, 2019. "Should I stay or should I go? Migration and job-skills mismatch among Italian doctoral recipients," GLO Discussion Paper Series 340, Global Labor Organization (GLO).
    5. Alfano, Vincenzo & Cicatiello, Lorenzo & Gaeta, Giuseppe Lucio & Pinto, Mauro, 2019. "The gender wage gap among PhD holders: an empirical examination based on Italian data," GLO Discussion Paper Series 393, Global Labor Organization (GLO).
    6. Alfano Vincenzo & Cicatiello Lorenzo & Gaeta Giuseppe Lucio & Pinto Mauro, 2021. "The Gender Wage Gap among Ph.D. Holders: Evidence from Italy," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 21(3), pages 1107-1148, July.
    7. Giuseppe Lucio Gaeta & Giuseppe Lubrano Lavadera & Francesco Pastore, 2022. "Overeducation wage penalty among Ph.D. holders: an unconditional quantile regression analysis on Italian data," International Journal of Manpower, Emerald Group Publishing Limited, vol. 44(6), pages 1096-1117, March.
    8. Giuseppe Lucio Gaeta & Giuseppe Lubrano Lavadera & Francesco Pastore, 2022. "The Effect of Job–Education Vertical Mismatch on Wages Among Recent PhD Graduates: Evidence From an Instrumental Variable Analysis," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(1), pages 197-225, March.
    9. Alfano, Vincenzo & Gaeta, Giuseppe Lucio & Pinto, Mauro & Rotondo, Francesca & Vecchione, Gaetano, 2021. "La dinamica dell’offerta di formazione dottorale dopo la riforma Gelmini [Ph.D. courses in Italy after the Gelmini Reform]," MPRA Paper 108144, University Library of Munich, Germany.
    10. Pastore, Francesco, 2018. "New Education Models for the Workforce of the Future," IZA Policy Papers 143, Institute of Labor Economics (IZA).
    11. Pastore, Francesco, 2018. "New Education Models for the Future of Work Force," GLO Discussion Paper Series 267, Global Labor Organization (GLO).

    More about this item

    Keywords

    Job–education mismatch; overeducation; overskilling; job satisfaction; wages; PhD holders; C26; I23; I26; J13; J24; J28;
    All these keywords.

    JEL classification:

    • C26 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Instrumental Variables (IV) Estimation
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy

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