Profitable Career Paths: The Importance of Occupational and Industry Expertise

Center for European Labor Market Research Paper No. 2004-10

24 Pages Posted: 31 May 2005

See all articles by Alexandros Zangelidis

Alexandros Zangelidis

University of Aberdeen - Business School

Date Written: October 2004

Abstract

This paper departs from the conventional assumption that divides accumulated in work human capital into employer-specific and general labour market skills, and pursues the idea of industry and occupational specificity. Occupation-specific skills are estimated to have an important contribution in wage determination, while the evidence on industry specificity is not strong and in some cases inconclusive. The findings also outline that industry and occupational expertise are truly important to individuals' earnings in industry sectors and occupations that are characterised by high-paying, prestigious but, competitive and demanding jobs, like professional and managerial jobs or jobs in the banking and finance sector.

Keywords: Human Capital, Occupational Expertise, Industry Experience, Wages

JEL Classification: J24, J31, J41

Suggested Citation

Zangelidis, Alexandros, Profitable Career Paths: The Importance of Occupational and Industry Expertise (October 2004). Center for European Labor Market Research Paper No. 2004-10, Available at SSRN: https://ssrn.com/abstract=731643 or http://dx.doi.org/10.2139/ssrn.731643

Alexandros Zangelidis (Contact Author)

University of Aberdeen - Business School ( email )

Edward Wright Building
Dunbar Street
Aberdeen, Scotland AB24 3QY
United Kingdom

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