As part of a collaborative research project between people from racialised communities, London School of Economics and Equality Trust, Ihuoma shares her insights into what is wealth, what helps and hinders people from racialised communities to build wealth and what could make a difference. The research was funded by the British Academy Innovation Fellowship Scheme (Fellowship number IF2324/24008). You can find the summary briefing from this project and any further information from www.equalitytrust.org.uk
The interviewee reflects on their experiences with wealth inequality as an immigrant in the UK. They define wealth as having money beyond daily needs but admit they have struggled to save or grow wealth due to insufficient income. Upon arriving in the UK, they faced a professional demotion, starting at a much lower grade than they held in their home country, which significantly impacted their financial stability and ability to build wealth. They describe feelings of frustration and unfulfilled expectations, as they hoped to earn enough to save and achieve goals like home ownership. The interviewee also highlights systemic barriers, particularly racial discrimination, which they believe limits opportunities for career progression and fair treatment. They express disappointment in being undervalued despite their qualifications and contributions. Ultimately, they emphasise the need for fair pay and acknowledgment of skills as key to overcoming these challenges.
