Early career PhD salaries: the industry premium and interdisciplinary debate

Abstract

Despite the fact that earning the PhD in any given field requires clear investments, the individual returns for such commitments have not been closely studied. This article utilizes data from the Survey of Earned Doctorates to address three questions concerning the salaries earned by recent PhD recipients. We find that (1) industry salaries are significantly higher than other employment sectors and (2) salaries for people who complete interdisciplinary dissertations appear to show – with some noted exceptions – neither a premium nor a penalty when interacted with employment sector and discipline.

Keywords:

• wages
• risk
• interdisciplinary research

JEL Classification:

• D01
• D81
• I23
• I28
• J15
• J31