How Bad is the Gender Pay Disparity in FinTech?

The #timesup / #metoo movement has been opening up lots of cans of worms in industries across the nation - shining a spotlight on how rampant and wide the pay disparity is between males and females.

In Hollywood, it was recently reported that Marky Mark Wahlberg received a staggering $1.5 million, versus the measly $1,000 that Michelle Williams was paid, for the “All The Money in the World” reshoot.

After the backlash, Wahlberg donated his $1.5 million to the Time’s Up Legal Defense Fund in Michelle Williams’ name.

There is even some indication that the #MeToo movement may be penetrating the VC landscape. According to PitchBook, in 2017, female founders received 2.2% of venture capital funding – up from 1.9% in 2016.

However, in terms of the dollar amounts, the size of the gap is still staggering.

All-female teams received just $1.9 billion of the $85 billion total invested by venture capitalists last year while their all-male counterparts received about $66.9 billion. (The balance was raised by teams whose gender makeup was unable to be confirmed by PitchBook.)

How about startup teams of mixed gender? Are female co-founders typically paid the same as their male counterparts?

You’d be surprised by some of the horror stories I’ve heard, within the startup community, of male co-founders exploiting their female co-founders in terms of compensation, equity stakes and even in claiming credit for their female co-founder’s accomplishments.

I’m curious about the FinTech industry in particular. I’m constantly coming across extraordinary women in FinTech, and I’ve seen some of the most groundbreaking new concepts emanate from female leadership. But are these women-led businesses getting the capital and recognition that they deserve? Is there a significant gender pay disparity in FinTech?

What do you all think?

Please share your thoughts by commenting below. Private messages are also welcome at dsa@daraalbrightmedia.com.