1 Introduction 2

2 Institutional setting and data 5

  2.1 Institutional setting 5

  2.2 Data 6

  2.3 Descriptive statistics 8

3 Empirical Strategy 10

4 How large is the penalty? 13

5 How do careers change after childbirth? 17

  5.1 How does parenthood impact employees’ responsibilities and production? 17

  5.2 Does parenthood affect the quality of realized outputs? 18

  5.3 How does parenthood reshape employees’ time use and work arrangements? 20

  5.4 Sorting 22

    5.4.1 Do parents move into different jobs? 22

    5.4.2 Which job characteristics amplify the motherhood penalty? 24

6 Which mothers incur the largest penalties? 26

  6.1 Do managers mediate the penalty? 28

  6.2 Do social norms shape the penalty? 29

  6.3 Which other characteristics predict the penalty? 31

7 Conclusion 33