The aim of this article is twofold: (1) to descriptively explore the evolution of occupational segregation of women and men of different racial/ethnic groups in the United States during 1940–2010, and (2) to assess the consequences of segregation for each group. For that purpose, in this article, we propose a simple index that measures the monetary loss or gain of a group derived from its overrepresentation in some occupations and underrepresentation in others. This index has a clear economic interpretation. It represents the per capita advantage (if the index is positive) or disadvantage (if the index is negative) of the group, derived from its segregation, as a proportion of the average wage of the economy. Our index is a helpful tool not only for academics but also for institutions concerned with inequalities among demographic groups because it makes it possible to rank them according to their segregational nature.