CAREER EARNINGS AND RETENTION OF U.S. MILITARY PHYSICIANS

Military physicians consider potential career earnings when making their stay/leave decisions. Moreover, they consider the effects of differences between military and civilian compensation at three distinct decision periods in the military career: the first year of unobligated service, the years aft...

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Bibliographic Details
Published in:Defence and peace economics 2012-02, Vol.23 (1), p.51-76
Main Authors: Gray, Bradley M., Grefer, James E.
Format: Article
Language:English
Subjects:
Armed forces
Career development
Decision making
Doctors
Earnings
Estimation
Instrumental variable estimation
Labour turnover
Medical personnel
Military personnel
Military physicians
Military retention
Physician compensation
Physician labor markets
Physician retention
Physicians
Retention
Studies
U.S.A
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Summary:Military physicians consider potential career earnings when making their stay/leave decisions. Moreover, they consider the effects of differences between military and civilian compensation at three distinct decision periods in the military career: the first year of unobligated service, the years after that point but before military retirement eligibility, and the year of retirement eligibility. We find that military retention is highly sensitive to compensation differences at the first decision and substantially less sensitive after that. We also account for endogeneity of military physician pay and retention with an instrumental variable technique, without which, estimates substantially underestimate the wage effect.
ISSN:1024-2694
1476-8267
DOI:10.1080/10242694.2011.562371