Social stratification, which is an aspect of social inequality, has persisted as an important social issue. Indeed, according to Miller, ‘Nearly 30 percent of all research articles in major sociological journals [were] devoted to social stratification in 1990.’1 Usually, social stratification is used as an independent and explanatory variable in empirical research. Yet, despite its theoretical and methodological merits, sociologists have failed to reach a consensus on its conceptual or measurement indices. Scholars often use various indices that do not necessarily provide an explicit theoretical conception, and, consequently, it is not known to what social category these indices refer. Marsh writes: ‘in order for it to have explanatory power, it is important that it is adequately theorized, otherwise circular explanations occur. For example, if Registrar-General's classification is found to be related to some lifestyle variables, this can only be deemed an explanation if one can be sure that the class schema is not itself just a proxy for lifestyle groupings.’2 To show the importance of the social stratification index, scholars such as Marie Haug argue that it is a critical concept for the whole discipline of sociology: ‘Overcoming measurement shortcomings in the fundamental sociological concept of stratification calls for top scientific priority for the whole discipline.’3 In this article, we first highlight the importance of re-conceptualizing social stratification by describing the concept based on the postulates of functionalist theory. Its importance is highlighted further by examining its differential implications from Karl Marx's concept of social class.