{"id":2594,"date":"2011-12-06T13:18:21","date_gmt":"2011-12-06T18:18:21","guid":{"rendered":"http:\/\/thesocietypages.org\/citings\/?p=2594"},"modified":"2011-12-09T19:40:52","modified_gmt":"2011-12-10T00:40:52","slug":"wall-street-wages-and-whiteness","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/clippings\/2011\/12\/06\/wall-street-wages-and-whiteness\/","title":{"rendered":"Wall Street, Wages, and Whiteness"},"content":{"rendered":"<figure style=\"width: 240px\" class=\"wp-caption alignleft\"><a class=\"img-link\" title=\"Creative Commons licensed photo by ToGa Wanderings on flickr.com\" href=\"http:\/\/www.flickr.com\/photos\/69031678@N00\/5899676716\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0px initial initial;\" src=\"http:\/\/farm7.static.flickr.com\/6044\/5899676716_ff0d235315_m.jpg\" border=\"0\" alt=\"Money!\" width=\"240\" height=\"160\" \/><\/a><figcaption class=\"wp-caption-text\">Photo by Thomas Galvez, togalearning.com<\/figcaption><\/figure>\n<p>The  current political and cultural upheaval focused on the American economy  has Wall Street under the microscope. <a href=\"http:\/\/dealbook.nytimes.com\/2011\/12\/02\/study-sees-wall-street-pay-tilted-toward-white-men\/\"><em>The  New York Times<\/em><\/a> DealBook section recently reported on a study by CUNY Graduate Center sociologist  <a href=\"http:\/\/web.gc.cuny.edu\/sociology\/Faculty%20Pages\/Alba%20Page.html\">Richard D. Alba<\/a> which dissected some of the income stratification  occurring within financial industry. His findings? Not surprisingly, Wall  Street remains an old boys\u2019 club. White men are making significantly  more than their female or non-white coworkers:<\/p>\n<blockquote>\n<p dir=\"ltr\">The  median compensation for a white man in the financial industry between  2005 and 2009 was $154,500, 55 percent percent more than that for a  white woman, according to the study, which used United States Census  data. He made 55 percent more than a Latino man, and 72 percent more  than a black man. A typical white woman, with a salary of $100,000, made  59 percent more than a Latina woman, and 65 percent more than a black  woman.<\/p>\n<\/blockquote>\n<p>Historically,  white males have dominated the financial sector, and their wage  superiority has remained consistent despite growing  diversity within the field:<\/p>\n<blockquote>\n<p dir=\"ltr\">In  2000, more than 67 percent of older workers were white men, the study  shows. In the period between 2005 and 2009, that dominance showed signs  of eroding, as white men were less than 46 percent of the youngest  workers, those just starting out on Wall Street.<\/p>\n<\/blockquote>\n<p>While  Wall Street has been quick to adapt to complicated new financial  instruments and markets, according to Alba, it shows few signs of adapting  to an already-changed labor market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current political and cultural upheaval focused on the American economy has Wall Street under the microscope. The New York Times DealBook section recently reported on a study by CUNY Graduate Center sociologist Richard D. Alba which dissected some of the income stratification occurring within financial industry. His findings? Not surprisingly, Wall Street remains an [&hellip;]<\/p>\n","protected":false},"author":386,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39074],"tags":[36,654,3162,39111,13181,1219],"class_list":["post-2594","post","type-post","status-publish","format-standard","hentry","category-sightings","tag-economics","tag-finance","tag-new-york-times","tag-race","tag-richard-alba","tag-wall-street"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts\/2594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/users\/386"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/comments?post=2594"}],"version-history":[{"count":5,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts\/2594\/revisions"}],"predecessor-version":[{"id":2606,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/posts\/2594\/revisions\/2606"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/media?parent=2594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/categories?post=2594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/clippings\/wp-json\/wp\/v2\/tags?post=2594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}