What matters most: teaching or research? Empirical evidence on the remuneration of British academics

This paper examines the impact of productivity on pay within academia, drawing upon a detailed dataset of academics from five old established universities. Results outline the importance of publication; grant receipt and teaching quality in the determination of pay. A large financial penalty to time out of the profession is revealed, which, with productivity variables, explains away the gender salary gap. The relationship between teaching and research is investigated, and we find some evidence in support of the hypothesis that productive researchers are successful teachers. Results on reservation salary suggest that the best academics are willing to stay within the profession.