It happend in my field that new assistant professors aould get paid a lot. They lock you in at a certain salary with gradual increases. The slaaries go up in the market for new talent. The young ones are paid higher salaries as they come in.The reason some finance academics have argues is 'option logic'. A newbie might publish a lot. Some of the old ones have established that they publush little.If this guy publishes well and builds up a reputatipn he could look elsewhere, pit an offer on the dean's desk, and ask for a raise
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