THE RELATION OF SALARY TO THE SUPPLY OF SCIENTISTS AND ENGINEERS,
RAND CORP SANTA MONICA CALIF
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A model is constructed which demonstrates how the pecuniary and non-pecuniary factors of total income may operate on the margin to determine the numbers of people in different occupations. The net present income values at age 18 for several occupations-building construction workers, chemists, and chemical engineers-are calculated using actual income and cost data to show the relevant pecuniary factors which may influence young people in their choices of careers. The implications for three meanings of shortage are discussed in terms of the numbers of people who may choose scientific occupations. Finally, an estimate is made of the future trend of income for chemical engineers in respect to other occupations.