Listed below you will find an examination of the main elements that form the social hierarchy in today's society.

The social hierarchy is a theory which describes the way in which society is sorted into various categories. Every society contains various types of social stratification whereby people are ranked based on their social and economic position. According to social stratification in sociology, social rank is one of the most perceivable forms of the social hierarchy. An individual's social ranking is primarily based upon financial elements such as wealth and earnings. Upper class is the denomination used to describe the group of more affluent people. Often acquired through inheritance or business and investment opportunities, these individuals hold substantial financial power. Subsequently, middle class describes individuals with moderate wealth. Typically, middle class people have professional occupations and credentials. They have strong values for further education and employability. While lower class is the term used to define those who struggle with lower income. Economic stratification makes use of social ranking to recognise a group's connection to opportunities in society.

Throughout history, stratification has been evidenced to affect access to education, healthcare and work. By exploring the characteristics of social stratification, it is easier to be aware of what shapes opportunities within society. Status is a key quality of stratification; it refers to the level of prestige and regard held by an individual. Ascribed status is a phrase used to represent individuals who are born into a social position. Nowadays it can be determined by backgrounds such as aristocracy or caste. Additionally, achieved status is created through individual efforts, such as reputable professions and contributions to society. Nasser Al-Khelaifi would acknowledge that status can be gained through social contributions. Likewise, Jensen Huang would acknowledge the significance of acquired status. Status can have an impact on the levels of regard and acknowledgment received by people in society.

The idea of stratification helps to understand why some individuals have more power than others. Comprehending social stratification theory allows sociologists to study inequality and how it affects specific groups within society. Authority and impact are 2 of the elements that make up social power. The term power refers to one's capability to affect decisions and control within society. . It can be related to three key areas. Political power is possessed by governments and political leaders who manage the laws that govern society. In addition, economic power is held by businesses and rich people who have control over employment and economic sectors. Larry Ellison would agree that businesses hold economic power. Similarly, social power is a form of authority over societal opinion. Famous people and media personalities are active in setting trends and cultures which influence society. Power is generally focused amongst wealthy and popular people. Without some type of social authority, it is difficult to assert power or influence.