<P> In the 1970s, a Fortune magazine study found one - in - five of the country's largest businesses and one - in - three of its largest banks was run by an Episcopalian . Numbers of the most wealthy and affluent American families as the Vanderbilts, Astors, Whitneys, Morgans and Harrimans are Episcopalians . The Episcopal Church also has the highest number of graduate and post-graduate degrees per capita (56%) of any other Christian denomination in the United States, as well as the most high - income earners . According to a 2014 study by the Pew Research Center, Episcopalians ranked as the third wealthiest religious group in the United States, with 35% of Episcopalians living in households with incomes of at least $100,000 . </P> <P> The Episcopal Church is governed according to episcopal polity with its own system of canon law . This means that the church is organized into dioceses led by bishops in consultation with representative bodies . It is a unitary body, in that the power of the General Convention is not limited by the individual dioceses . The church has, however, a highly decentralized structure and characteristics of a confederation . </P> <P> At the local level, there are 6,473 Episcopal congregations, each of which elects a vestry or bishop's committee . Subject to the approval of its diocesan bishop, the vestry of each parish elects a priest, called the rector, who has spiritual jurisdiction in the parish and selects assistant clergy, both deacons and priests . (There is a difference between vestry and clergy elections--clergy are ordained members usually selected from outside the parish, whereas any member in good standing of a parish is eligible to serve on the vestry .) The diocesan bishop, however, appoints the clergy for all missions and may choose to do so for non-self - supporting parishes . </P> <P> The middle judicatory consists of a diocese headed by a bishop who is assisted by a standing committee . The bishop and standing committee are elected by the diocesan convention whose members are selected by the congregations . The election of a bishop requires the consent of a majority of standing committees and diocesan bishops . Conventions meet annually to consider legislation (such as revisions to the diocesan constitution and canons) and speak for the diocese . Dioceses are organized into nine provinces . Each province has a synod and a mission budget, but it has no authority over its member dioceses . </P>

What do you call a priest in the episcopal church