This paper analyzes the wage structure in Korea by occupation and by industry. To identify whether the wage structure is productivity-based or seniority-based, experience-wage profiles and tenure-wage profiles are estimated. The empirical analysis finds that tenure-wage profiles are steeper than experience-wage profiles in all occupations and in all industries. The steep slope of the tenure-profiles imply either large accumulations of firm-specific human capital or the seniority-based wage structure.
Especially, the slopes of tenure-profiles are very high for both specialist and unskilled workers who do not have much firm-specific human capitals. This finding shows that seniority-base wage structure are still prevalent in Korean firms. Without the productivity-based structure, however, any measure to increase the employment and/or the hiring for older workers would be ineffective.
- 고령자 고용과 임금체계(The employment for older workers and the wage structure in Korea)
- 최강식; 김민준
고령자 고용과 임금체계(The employment for older workers and the wage structure in Korea)
|Journal Title; Vol./Issue||직업능력개발연구:vol. 14(no. 3)|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Social Development < Employment|