As income inequality in the U.S. strikes historic highs, many people are starting to feel that the American dream is either dead or out of reach. Only 64 percent of Americans still believe that it’s possible to go from rags to riches, and, in another poll, 63 percent said they did not believe their children would be better off than they were. These days, the idea that anyone who works hard can become wealthy is at best a tough sell.

This growth in inequality has also sparked a national fascination in the so-called 1 percent. Namely, who are they? And how much money does one need to be part of this elite group? While the number varies by age (and there’s somegeographical variation), in 2010 it took an income of $332,000 to be in the top 1 percent of U.S. households.

So who gets those jobs and how do they do it? Lauren Rivera, an associate professor at Northwestern University’s Kellogg School of Management, studies hiring and class and is the author of Pedigree: How Elite Students Get Elite Jobs, based on more than 100 in-depth interviews with people who are in charge of hiring for elite firms in finance, consulting, and law, and a year spent with an on-campus hiring team for an elite firm. The book provides an insider look at how top-notch places hire, and explores how their processes serve those with the most privileged and affluent backgrounds.

“Hiring is one of the most consequential status sorts that people face—not only are people's salaries on the line, but people's livelihoods are on the line,” says Rivera.

I recently spoke with Rivera about her research. The following transcript of our conversation has been edited for clarity.

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