On the Differences of Faculty Remunerations from the Perspective of Human Capital

It is an empirical study on faculty remuneration with the 3612 samples from 68 higher education institutions located at 11 provinces in China,based on human capital theory.It finds that the accumulated human capital in knowledge,vision,capacity and skills,and experience of faculty members is with a significant effect.The details are that the degree of education,study abroad,on-job training,and the years of being academics impact on the faculty remuneration differences.Among these variables,the year of being academics is with the most significant,and on-job training is the least one.In the degree of education and study abroad,in contrast to bachelor degree holders,receiving doctoral degrees and specially in another country rather than China are with significant influences,and master degrees even from oversea are with small influence on the remuneration.On-job training,being visiting scholars abroad is with the strongest effect,but it is no influence on remuneration if trained domestically on information and technology.The study also finds that although the year of being academics provides the biggest influence on faculty remuneration,its achievement goes through rank promotion.At a certain rank,the year of being this position is not significant effect on faculty remuneration.These conclusions in this study offer some good policy references for understanding the characteristics of current faculty remuneration system and solving the problems in the remuneration distribution.