This study of Ph.D. economists' careers during the period 1960-1989 ex
amines both initial and current employment and explicitly accounts for
the joint relationship between choosing an employment sector and plac
ement within the academic sector. Initial placement and market conditi
ons create effects that tend to persist throughout an individual's car
eer. With the exception of the labor and welfare fields, women are not
less likely than men either to enter or to persist in academia. But s
ignificant evidence shows that in the past, women have placed in lower
-ranked departments. Among recent degree recipients, however, underpla
cement of women as a general phenomenon apparently has disappeared.