In pretty much all societies, one of the big perks that comes with wealth is that the richer you are the less you work.
But in a bizarre twist of American exceptionalism, a defining mark of US corporate life is not just its obsession with overwork but its reverence for it. The higher up the ladder you climb, the more hours you’re expected to willingly put in — and the higher the premium you’ll be rewarded for it.
It’s men who tend to end up at the top of professions that are the most demanding but also the most lucrative — what Harvard University professor Claudia Goldin calls “greedy work” — like consulting, finance and law. Women get shut out for all the usual reasons (i.e. sexism), but also because the math simply doesn’t work for those with kids. They don’t have enough hours in the day to dedicate to these types of jobs; instead, not surprisingly, those hours go to childcare.
That’s why opposite-sex households where both individuals are highly paid and highly educated often have the biggest pay gap between the couple. Even in those cases, traditional gender roles are so ingrained that women still end up doing the bulk of the household labor, pushing them into less time-intensive jobs and professions that also come with a smaller paycheck. The result? Top-earning men make significantly more than top-earning women.
But there’s evidence that the pandemic may have started to disrupt corporate America’s love affair with workaholism. Between...
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