Diversity and Equity in Labor Market Outcomes for Economists

The lack of gender and racial diversity in economics academia is well-established, but less is known about the overall placement and earnings of economists. Using person-level data from the Survey of Earned Doctorates linked to Longitudinal Employer-Household Dynamics jobs data, we examine placements and earnings for new PhD economists by gender and race. Female PhD economists earn 12 percent less than their male counterparts; compared to their white counterparts on average Black PhD economists earn 15 percent less and overall underrepresented minority PhD economists earn 8 percent less. Pay disparities are attenuated in some sectors and when controlling for PhD granting institution and employer.