In "Biblical Perspective" Gordon Snider writes:
In 3:2 Paul indicated there certainly were benefits to being a Jew. Here the question is different. It could be stated, “Is there any inherent benefit in being born a Jew, so far as standing before God is concerned?” No, in no wise. It is not ethnic or religious background, but righteous living (1:17) that is the issue. Paul had already shown that both Jews and Gentiles . . . are all under sin, and cannot claim to have met God's requirement by personal strength or ability
Source: Studies in the Psalms: Adult Teacher's Insights, page 10.