Document Type

Article

Publication Date

2023

Abstract

Part I outlines the many ways that corporate employers fail in racial equity efforts and the barriers that have been put into place to keep BIPOC workers from succeeding. Drawing from industrial organizational psychology and sociology, I identify six distinct challenges that must be remedied or ameliorated in order for BIPOC to achieve pay equity in the corporate climate. Part II identifies and analyzes the decades of litigation and class action settlements that have tried and failed to address the persistent lack of BIPOC representation in the financial industry. I categorize these cases into three waves of litigation intended to fix the barriers BIPOC face and then analyze why these class wide settlements and resulting consent decrees failed to move the needle on racial pay equity.

Finally, Part III provides a path forward by identifying interventions, adopted from the most recent social science research, that financial sector employers can implement to align themselves with racial pay equity goals. It provides a blueprint that can go a long way in making financial sector workplaces more equitable for their BIPOC workers.

Publication Citation

88 Brooklyn L. Rev. 519 (2023).

Download

Share

COinS