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Is It All Worth It? The Experiences of New PhDs on the Job Market, 2007–10

The authors describe job market experiences of new PhD economists, 2007–10. Using information from PhD programs’ job candidate Web sites and original surveys, they present information about job candidates’ characteristics, preferences, and expectations; how job candidates fared at each stage of the market; and predictors of outcomes at each stage. Some information in this article updates findings of prior studies. However, design features of the data used in this article may result in findings that are more generalizable. This article is unique in comparing premarket expectations and preferences with post-market outcomes on the new PhD job market. It shows that outcomes tend to align with premarket preferences, and candidates’ expectations are somewhat predictive of their outcomes. Several analyses also shed light on subgroup differences.