‘It’s the value that we bring’ : performance pay and top income earners’ perceptions of inequality

Hecht, Katharina

‘It’s the value that we bring’ : performance pay and top income earners’ perceptions of inequality

Dateien

Hecht_2-1bivxly1wq3tq5.pdfGröße: 292.15 KBDownloads: 15

Datum

2022

Open Access-Veröffentlichung

Open Access Hybrid

Sammlungen

Exzellenzcluster "Die politische Dimension von Ungleichheit"

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Socio-Economic Review. Oxford University Press. 2022, 20(4), pp. 1741-1766. ISSN 1475-1461. eISSN 1475-147X. Available under: doi: 10.1093/ser/mwab044

Zusammenfassung

Though the literature on perceptions of inequality and studies of ‘elites’ have identified the importance of meritocratic beliefs in legitimating inequality, little is known about the role of pay setting processes in sustaining ideals of meritocracy. Drawing on 30 in-depth interviews with UK-based top income earners working mainly in finance, I analyse how top income earners perceive economic inequality. My study highlights the crucial role of performance pay for perceptions that top incomes are meritocratically deserved. Participants expressed the view that performance pay, an increasingly prevalent pay-setting practice, ensures that top incomes reflect a share of economic ‘value created’ for shareholders, clients or investors. Focusing on narrow, economic criteria of evaluation perceived as objective, the majority of respondents (‘performance pay meritocrats’) justified any income difference as deserved if it reflects economic contribution. Meanwhile, a minority of respondents (‘social reflexivists’) applied broader evaluative criteria including distributive justice and social contributions.

Fachgebiet (DDC)

320 Politik

Schlagwörter

financial services, elites, income distribution, inequality, meritocracy, perceptions

Zitieren

ISO 690

HECHT, Katharina, 2022. ‘It’s the value that we bring’ : performance pay and top income earners’ perceptions of inequality. In: Socio-Economic Review. Oxford University Press. 2022, 20(4), pp. 1741-1766. ISSN 1475-1461. eISSN 1475-147X. Available under: doi: 10.1093/ser/mwab044

BibTex

@article{Hecht2022value-55830,
  year={2022},
  doi={10.1093/ser/mwab044},
  title={‘It’s the value that we bring’ : performance pay and top income earners’ perceptions of inequality},
  number={4},
  volume={20},
  issn={1475-1461},
  journal={Socio-Economic Review},
  pages={1741--1766},
  author={Hecht, Katharina}
}

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