Family Wealth and the Class Ceiling: The Propulsive Power of The Bank of Mum and Dad. (February 2021)

• Record Type: Journal Article
• Authors: Toft, Maren; Friedman, Sam
• Is Part Of: Sociology. Volume 55:Number 1(2021)
• Page Start: 90
• Page End: 109
• Publication Date: 2021-02
• Subjects: class ceiling -- elites -- income inequality -- wealth; Sociology -- Periodicals; Sociology -- Periodicals; Sociologie -- Périodiques; Sociologie; Electronic journals; 301.05
• DOI: 10.1177/0038038520922537
• Languages: English
• ISSNs: 0038-0385

Abstract

In this article we demonstrate that those from working-class backgrounds face a powerful 'class ceiling' in elite occupations. Examining how class origin shapes economic returns in the Norwegian upper class (3.8% of the population), we first find that the income advantage enjoyed by those from privileged backgrounds increases sharply as they ascend the income distribution in both elite business and cultural fields. Second, we show that those from economically upper-class backgrounds enjoy the highest pay advantage in all upper-class destinations. Finally, we demonstrate the profound propulsive power provided by parental wealth. Our results indicate that this is the most important single driver of the class-origin income gap in virtually every area of the Norwegian upper class. These findings move forward an emerging literature on class-origin pay gaps beyond mean estimates to reveal the distinct 'pay-off' to class privilege in the very highest income-earning positions.