So you want to earn a Ph.D. in economics: How much do you think you'll make?

Using data from individuals who earned a Ph.D. in economics in 1996-97, this study identifies factors associated with securing full-time permanent positions and determinants of starting salaries for new Ph.D. economists. Where individuals attend graduate school and factors including the field of specialization and work as a teaching/research assistant impact whether graduates obtain full-tints permanent jobs. Choice of graduate program and amount of time spent in the program influence starting salary, as does obtaining a position outside academia or in a research-oriented academic institution, both of which entail higher salaries relative to employment at a BA.-level academic institution.