Salaries and Career Opportunities in the Banking Industry: Evidence from the Personnel Records of the Union Bank of Australia

Career Advancement in a Family-Owned French Construction Firm Under Changing Labor Legislation and Market Demand, 1946-1985

“…Wage policy was equitable. Our findings are similar to those of Bruno (2010) who showed that small firms were more egalitarian than larger ones, and coherent with Seltzer and Simons (2001) who showed that effort and honesty drove promotions. Crossing the dummy "kin" with the variable "1961-1973," "1974-1985," and "1946-1960," which indicates, respectively, one phase of prosperity and two of recession, is not significant in Table 2, proving that kin were no more likely to be promoted during phases of prosperity or phases of recession.…”

Internal labour markets in the Australian banking industry: their nature prior to the Second World War and their recent decline

“…A number of subsequent studies have concluded that internal labour markets, or at least some of the features of internal labour markets, were present at an earlier date in a range of industries such as banking (Seltzer and Merrett, 2000;Seltzer and Simons, 2001), manufacturing (Sundstrom, 1988), railroads (Hamilton and MacKinnon, 1996;Howlett, 2000;Sammartino, 2002) and retail sales (Carter and Carter, 1985). Five explanations have been offered for the existence of internal labour markets: union activity; public policy; mitigation of the principal-agent problem; reducing turnover; and screening workers.…”

“…10 Lengthy tenure was important to the banks because the costs associated with hiring and training new workers were quasi-fixed, depending primarily on the number of workers hired and little on career length. Although the BOA sample size is too small to draw any meaningful conclusion about the determinants of the causes of the different types of separations, in another paper I have performed such an analysis using Cox proportional hazard regressions on the UBA data (Seltzer and Simons, 2001). The main conclusions from this analysis were: 1) that resignations and dismissals were pro-cyclical, reflecting the lower cost to the worker of separating during a strong job market; 2) the likelihood of resignation, forced resignation, and dismissal respectively were 30 to 120 per cent higher in the first 10 years of tenure relative to later years; 3) an increase in the real wage significantly reduced the estimated hazard of resignation and of termination; and 4) among employees who were eligible for pensions, increases in the real wage decreased retirement.…”

“…First, direct measures of productivity, such as real value of deposits per employee, changed little over the period. 11 Second, in other papers (Seltzer and Merrett, 2000;Seltzer and Simons, 2001), I have run cross-sectional regressions on UBA. These regressions, which have no time dimension, show virtually the same tenure effects as the panel regressions.…”

How skilled were English agricultural labourers in the early nineteenth century?1

“…30 30 Murphy and Welch, ‘Empirical age‐earnings profiles’, p. 204. Seltzer and Simons, ‘Salaries’, use the quartic functional form to estimate wage profiles from Australia. …”