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Networks in the market for researchers
We study the role of collaboration networks in the U.S. market for young scientists: after graduating, one in five PhD graduates find their first job at universities where their advisor has a co-author. Such connections more than double the probability of matching with a university—even after accounting for any unobserved hiring determinants at the PhD University - Hiring University pair level and for the topical fit between PhD graduate and Hiring University. We document a sizable citation premium for graduates placed via the advisor’s network. The citation premium does not reflect private information about (match) productivity, as we show that the premium is predictable by observable information up to graduation. Overall, network placement has risen substantially over time alongside the rise in collaboration, but the citation premium of network hires has remained stable.