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Pay Peanuts and Get Monkeys? Evidence From Academia

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  • Boyle, Glenn

Abstract

This article can be found at: The Berkeley Electronic Press Using some unique data from the New Zealand academic system this paper examines the relationship between worker quality and labour market value in a remuneration system that ignores opportunity cost differences. Based on a research assessment exercise undertaken in 2003 I find that the greater the difference between the value of a discipline's outside opportunities and its New Zealand academic salary the weaker its research performance in New Zealand universities. The latter apparently get what they pay for: disciplines in which compensation is lowest relative to opportunity cost are least able to recruit high-quality researchers. Paying peanuts attracts mainly monkeys.

Suggested Citation

  • Boyle, Glenn, 2006. "Pay Peanuts and Get Monkeys? Evidence From Academia," Working Paper Series 19041, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    • Handle: RePEc:vuw:vuwcsr:19041
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    File URL: https://ir.wgtn.ac.nz/handle/123456789/19041
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