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Megan Tobias Neely
Assistant Professor of Organization at Copenhagen Business School
Megan Tobias Neely is an Assistant Professor in the Department of Organization at Copenhagen Business School (CBS) and an affiliate of Stanford University's VMware Women's Leadership Innovation Lab. She specializes in studying workplace and economic inequality, focusing on the intersections of gender, race, and social class. Her research critically examines how these factors influence access to earnings and capital, particularly in the financial sector and industries like hedge funds and venture capital.
Academic Background and Research
Neely earned her PhD in sociology from the University of Texas at Austin in 2017. Prior to her academic career, she worked as a Research Analyst for BlackRock, Inc. from 2007 to 2010, an experience that fueled her interest in the mechanisms that reproduce inequality in the workplace, especially on Wall Street.
Her notable works include:
- Hedged Out: Inequality and Insecurity on Wall Street (2022), which explores the dynamics of wealth and privilege within the hedge fund industry.
- Divested: Inequality in the Age of Finance (2020), co-authored with Ken-Hou Lin, which discusses the financial sector's role in exacerbating economic inequality in the U.S.
Neely's research has garnered attention from various media outlets, including The New York Times, TIME, and Harvard Business Review, and she has been invited to present her findings at significant conferences and summits, including those organized by the United Nations and TechCrunch.
Current Projects
Recently, Neely was awarded a prestigious Sapere Aude grant from the Independent Research Fund Denmark to lead a research project titled "Building Research on Artificial Intelligence (BRAIN)." This project aims to investigate the backgrounds and working methods of AI scientists and how these factors influence the development of AI technologies and their societal impacts.1234
Through her work, Neely is contributing to ongoing discussions about inequality in various sectors and the implications of AI in contemporary society.
Highlights
What a thrill to get to share my work in Hedged Out on my favorite podcast—BBC Studios’ Thinking Allowed. Thank you for having me!
I am so pleased to share that #HedgedOut is officially out in the world! I am grateful for the many people who participated in this research and engaged the work. In particular, thank you to my editor Naomi Schneider and the team at the University of California Press for their great work on this book.
Who do you think of when you imagine a hedge fund manager? A greedy fraudster, a visionary entrepreneur, a wolf of Wall Street? These tropes capture the public imagination of a successful hedge fund manager. But behind the designer suits, helicopter commutes, and illicit pursuits are the everyday stories of people who work in the hedge fund industry—many of whom don’t realize they fall within the 1 percent that drives the divide between the richest and the rest. With Hedged Out, sociologist and former hedge fund analyst Megan Tobias Neely gives readers an outsider’s insider perspective on Wall Street and its enduring culture of inequality.
Hedged Out dives into the upper echelons of Wall Street, where elite white masculinity is the standard measure for the capacity to manage risk and insecurity. Facing an unpredictable and risky stock market, hedge fund workers protect their interests by working long hours and building tight-knit networks with people who look and behave like them. Using ethnographic vignettes and her own industry experience, Neely showcases the voices of managers and other workers to illustrate how this industry of politically mobilized elites excludes people on the basis of race, class, and gender. Neely shows how this system of elite power and privilege not only sustains itself but builds over time as the beneficiaries concentrate their resources. Hedged Out explains why the hedge fund industry generates extreme wealth, why mostly white men benefit, and why reforming Wall Street will create a more equal society.
"A clear-eyed assessment of hedge funds as engines of inequality. . . . Neely’s analysis is on point and fair-minded. Finance industry workers and those aspiring to join the industry should consider it essential reading."—Publisher's Weekly
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