Black women are least likely to be in the highest group of earners compared to any other gender or ethnic group. The Inclusion Initiative study by the London School of Economics surveyed participant earnings over seventeen years to learn where ethnic and/or gender groups ranked in terms of earning. The study revealed that women face high disparities in earning compared to men in terms pay, hours and representation in high positions. In addition, black women had the lowest probability of being high earners regardless of where they live in the UK.
Compared to white women, black women at the start of their careers have the same likelihood of being in the 1% of top earners but after ten- fifteen years the disparities of earnings are heightened. These disparities between black and white women in terms of pay are at heightened in industries such as banking, insurance and finance. Grace Lordan, Associate Professor of Behavioural Science states that regardless of race men are unfailingly the top earners.
Dame Minouche Shafik, who is the Director of London School of Economics commented that the financial sector tends to draw on a narrow pool of talent, which leads to less innovation and can lead to unchallenged, poor decision making. This shows that more opportunities in the financial sector need to be given to black women, who are the most disadvantaged in terms of earnings.