Returns to Seniority among Public School Teachers

Abstract

ReUirns to seniority account for a subslantial share of public K-12 expen-ditures. Over the first ten to 15 years of a career, public school teachers enjoy average wa^e growth al least equivalent to that of other white-col-tar workers. ELxplanatians for Ihis structure in terms of human capital or costly monitoring tack theoretical and empirical support. A steeper wage-leniire profile reduces tumover. hut it is douhrful that the costs of turn-over arc high enough lo make this an optimal use of si-hool resources. We conclude thai the structure of leather pay in public education i \\ more consistent with rent-seeking than efficieni conlraiting. I.

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