JUNE 22, 2022

Talking Points

When You Finally Give Yourself a Decent Paycheck

Earlier this month, we talked about the astronomical pay gap between top CEOs and the median-wage worker (CEOs make around 670 times more, to be exact *ugh*)—but it turns out, there’s another pay gap that we need to talk about: the one between female and male startup CEOs. That’s right, female founders aren’t paying themselves enough, oftentimes without realizing it or because of circumstances out of their control (like a global pandemic).

Let’s crunch some numbers, shall we? At 250 seed and venture-funded startups in the U.S., the gap between female and male CEOs grew four times more since 2019 (that’s $20,000 in 2022 compared to only $5,000 in 2019), according to a report from Kruze Consulting. And for every dollar a male founder makes, a female founder makes $0.86 (the gap has widened by $0.10 since 2019). Oh, and get this: during the pandemic, female CEOs cut their salaries by 30% ($101K per year in 2020 from $138K in 2019) while male CEOs gave themselves a raise ($146K in 2020 from $143K in 2019). Are we surprised? Unfortunately, not really.

But, there is some good news—or at least things you can do to make sure you’re getting paid what you deserve (even when you’re the one who does payroll). Tanya Jansen, the co-founder of beqom, gave Inc some tips. Here are the most important takeaways:

1. Get other opinions. Just like when you talk to your colleagues about their salaries (to find out if you're getting paid fairly), the same goes for when you’re the boss of the company. Ask other female leaders in your community with similar-sized companies what they’re paying themselves—it’s the only way to truly know what your paycheck should say.

2. Gather up the evidence. The more your company is worth = the more you’re able to pay yourself, but female-founded startups receive just 2.3% of total VC funding, so “coming armed with data around what other CEOs in their industry make, and providing reasoning as to why they should make the same, is crucial in raising their pay to equal levels as their male counterparts," says Jansen.

3. Know what you’re worth. Speak to a therapist or a trusted circle of family and friends. Practice manifestation. Write in a gratitude journal every day. Whatever it takes for you to learn that you deserve a seat at the table (and to be paid properly).

As the queen herself (no, not Elizabeth—Beyoncé) said in her new song, “Break My Soul,” “If you don't seek it, you won't see it.” Go get that bag!

Sponsored By Roll by ADP

Still Getting Paid Every 2 Weeks? Then You Need This App

You already know what our favorite day is: payday, baby. Whether you’re an employee or a small business owner, being able to submit payroll in a few clicks and getting a direct deposit just like that is *so* rewarding. No more waiting for 2 weeks to see money in your bank account.

Roll by ADP, the only chat-based payroll app, is changing the payroll game. All you have to do is type out your request (like: “Run my payroll”) and it’ll do the rest. You can do payroll while you’re on your hot girl walk, while you’re running errands—literally, any time, any place. And if that wasn’t easy enough, with the Roll by ADP app, your employees can manage their own profiles and find the info they need at their fingertips (so you don't have to). Everybody wins.

Download the app and get your first three months free using the link below.

Snacks

✌️ Speaking of Bey, she also said you should quit your job, so you have to do it. We don’t make the rules.

🫖 It’s been exactly a week since Rhode launched and Hailey Bieber is already in hot water.

🤑 We wish we had the power to make expense reports, invoices and financial approvals disappear for good—but this savvy business tool is the next best thing.*

📕 Why is this book from 2018 suddenly popping up on our TikTok For You Page?

😳 Wait, 11 interviews and four assignments for just one job application?

🚩 The metaverse is a dangerous place for women, so what is Meta doing about it? Not much.

🍼 Introducing the momternship: a 10-week paid internship to help moms get back into the workforce—no industry experience necessary.

RAPID FIRE WITH...

Jamie Norwood

Along with her Stix co-founder, Cynthia Plotch, Norwood is making the morning-after pill more accessible, thanks to their Restart Donation Bank.

Who are you inspired by?

“We’re big fans of Sarah Blakely and what she’s built with Spanx, and we’re also big fans of Bumble and often look to them for inspiration.”

How do you unplug from work?

“I live really close to the park, so I go on lots of long walks. And if I have a really bad day, I'll call a friend and vent.”

How many unread emails do you have right now?

“I am firmly inbox 0. I wish I could be more chill about it, but I feel off balance if my inbox isn't cleared.”

Best piece of advice?

“I have two. Don't ever work with someone that rubs you the wrong way. And to tell the difference between a gut instinct and anxiety: Anxiety is uncertainty and certainty is that gut feeling.”

THE STUFF WE LOVE

Staff Picks

Sharing is Caring

Share Girlboss Daily, Win Free Stuff

Love Girlboss Daily? We’re flattered-seriously. So why not refer a friend? There are some pretty great prizes in it for you if you do.

Your unique sharing link is [https://join.girlboss.com/a688a51e and you currently have 0 referrals. 

You can track where you’re at in your referral hub here: https://hub.sparklp.co/sub_94253d6532

*Prizes only available in the US and Canada.

Job Board

JOB OF THE DAY 

Manager, Sales, Disney

As a Manager of Sales, you will oversee the sell-in and management of licensed and direct-to-retail sales in the Specialty channel across fan accounts, fast fashion, home improvement, convenience channel, and growth accounts —both brick & mortar and ecommerce. You will work closely with internal partners in retail marketing along with our licensing & franchise teams to execute on business strategies and initiatives.

APPLY IF YOU HAVE: 8 years of experience in a sales organization, preferably in consumer packaging group industry. Experience with retail account management Experience presenting to buyers, licensees, and senior management. A strong apparel/fashion and/or toy background preferred, with experience in assortment planning, sell in, and sell through, customer buying patterns, pricing models, and in-store merchandising is a plus.

MORE JOBS

Social Media Manager, Adobe

Developer, High Moon Studio

Purchasing Coordinator, Crate and Barrel