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Failing Just Fine: Assessing Careers of Venture Capital-backed Entrepreneurs Via a Non-Wage Measure / Natee Amornsiripanitch, Paul Gompers, George Hu, Will Levinson, Vladimir Mukharlyamov.
- Format:
- Book
- Author/Creator:
- Amornsiripanitch, Natee.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w30179.
- NBER working paper series no. w30179
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2022.
- Summary:
- This paper proposes a non-pecuniary measure of career achievement, Seniority. Based on a database of over 5 million resumes, this metric exploits the variation in job titles and how long they take to attain. When non-monetary factors influence career choice, inference benefits from the use of non-wage measures, such as seniority. We apply it to study labor market outcomes of VC-backed entrepreneurs. Would-be founders experience accelerated career trajectories prior to founding, significantly outperforming graduates of same-tier colleges with similar first jobs. After exiting their start-ups, they obtain jobs about three years more senior than their right-before-founding peers. Even failed founders land jobs with higher seniority than those attained by their peers in the meantime.
- Notes:
- Print version record
- June 2022.
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