Having a look at a few of the main components of the social hierarchy by breaking down stratification principles.

Throughout history, stratification has been discovered to impact access to higher education, medical care and work. By exploring the characteristics of social stratification, it is simpler to be aware of what guides opportunities within society. Status is a key characteristic of stratification; it describes the level of prestige and respect held by an individual. Ascribed status is a phrase used to describe individuals who are born into a social standing. At present it can be recognised by backgrounds such as aristocracy or caste. Additionally, achieved status is created through individual efforts, such as respected professions and contributions to society. Nasser Al-Khelaifi would recognise that status can be gained through societal contributions. Likewise, Jensen Huang would identify the significance of acquired status. Status can have an impact on the levels of respect and recognition received by people in society.

The concept of stratification helps to make sense of why some people have more power than others. Comprehending social stratification theory helps sociologists to analyse inequality and how it impacts distinct groups in society. Authority and influence are 2 of the factors that form societal power. The word power refers to one's capability to affect decisions and authority within society. It can be associated with three key areas. Political power is held by governments and politicians who control the policies that regulate society. In addition, financial power is held by businesses and rich people who have control over jobs and economic sectors. Larry Ellison would concur that businesses hold economic power. Similarly, social power is a type of authority over societal opinion. Celebrities and media characters are active in setting trends and customs which influence society. Power is mainly . focused among rich and popular individuals. Without some kind of social authority, it is impossible to assert power or control.

The social hierarchy is a principle which describes the way in which society is graded into various groups. Each society includes various types of social stratification where individuals are ranked based on their social and financial position. According to social stratification in sociology, class is one of the most recognised forms of the social hierarchy. An individual's social ranking is mainly based upon economic elements such as wealth and income. Upper class is the denomination used to describe the group of more well-off individuals. Often gotten through inheritance or business and financial investment opportunities, these individuals hold significant financial power. Consequently, middle class pertains to individuals with moderate wealth. Generally, middle class people have professional occupations and credentials. They have strong values for tertiary academia and employability. While lower class is the term used to categorise individuals who cope with minimal income. Economic stratification uses social ranking to recognise a group's connection to opportunities in life.