Cornell University

Institute for Compensation Studies™

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News

July 18 2013

Kevin Hallock’s Pay receives Princeton University’s Richard A. Lester Award for the Outstanding Book in Industrial Relations and Labor Economics.

Princeton University's Industrial Relations Section has awarded the Richard A. Lester Award for the Outstanding Book in Industrial Relations and Labor Economics in 2012 to Pay: Why People Earn What They Earn and What You Can Do Now to Make More, authored by Institute for Compensation Studies Director Kevin Hallock. 

"This is a very big honor for me" says author Kevin Hallock. "I am very happy my work has been included alongside the previous winners of this award. I was able to meet Richard Lester when I was a graduate student and it is particularly nice for me to be associated with him in this way." 

The Richard A. Lester Award is "presented to the book making the most original and important contribution toward understanding the problems of industrial relations, and the evolution of labor markets."

PAY describes wages, wage differences across groups, wage inequality, how organizations set pay and why, executive and "superstar" pay, the difference between pay and "total rewards" (including benefits, opportunities for growth, colleagues, and working conditions), compensation in nonprofits, and the differences between the cost of compensation to organizations and the value employees place on that compensation. It also offers tips on what an individual can do to do to earn more.

Hallock's book has been well received by academic reviewers (see Barry Gerhart, ILR Review, Vol. 66, No. 2, 4-15-2013) and the media (http://www.ilr.cornell.edu/ICS/news/HallockPayBook.html)

Kevin F. Hallock is the Donald C. Opatrny '74 Chair of the Department of Economics and the Joseph R. Rich '80 Professor of Economics and of HR Studies. Hallock founded the Institute for Compensation Studies in 2010 and continues as its Director.

Click here for more about the Richard A. Lester Award and a list of previous awardees.