ICYMI: Classism and elitism are alive and well in corporate America, according to a recent study.
The recent college admissions scandal showed the length some parents will go to in order to get their children into the best schools. That Ivy League education and the networking it provides could be worth its weight in gold, especially when climbing the ladder in Corporate America.
Others say they’re destined for the highest office in the land. Democratic presidential contender Beto O’Rourke, who attended Columbia University in New York, told the April 2019 issue of Vanity Fair magazine, “Man, I’m just born to be in it, and want to do everything I humanly can for this country at this moment.”
Well-connected individuals who feel like they were born to rule the world or, at the very least, leapfrog over Kevin in accounting, make appearances in politics, academia, and cubicles and boardrooms across the land, Jones Young says.
Class distinctions can also affect people’s careers Their findings, “The Social Advantage of Miscalibrated Individuals: The Relationship Between Social Class and Overconfidence and Its Implications for Class-Based Inequality,” help explain why individuals who work at elite and prestigious firms tend to come from elite educational institutions, and why those born in the “upper-class echelons” are likely to remain there, the authors said.
There’s a “class ceiling” for employees from working-class backgrounds, those researchers found. “Even when people who are from working-class backgrounds are successful in entering high-status occupations, they earn 17% less, on average, than individuals from privileged backgrounds. This class-origin pay gap translates to up to £7,350 lower annual earnings.”
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