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Female unicorn founders earn 8X less than male counterparts: Report

YourStory

YourStory · 1y ago

Female unicorn founders earn 8X less than male counterparts: Report

According to a report by PrivateCircle Research, there is a significant gender pay gap among unicorn startup founders in India. On average, female founders earn around Rs 1.1 crore, while male founders take home about Rs 8.5 crore. This pay disparity reflects the lack of women in leadership positions in unicorn companies, with 57 Indian unicorns having no women on their boards. However, the overall median salary for unicorn founders has been increasing, reaching Rs 1.5 crore in FY23 compared to Rs 1.2 crore in FY22.

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New study of unicorn founders finds most are 'underdogs,' and female founders are rising

TechCrunch · 1y ago

New study of unicorn founders finds most are 'underdogs,' and female founders are rising

A new study has found that a majority of unicorn companies have "underdog" founders, with 70% being immigrants, women, or people of colour. The study analyzed 845 unicorns and 2,018 founders and discovered that while most unicorns used to only have male founders, the number of female founders is on the rise. It also found that 53% of unicorn founders have degrees from the top 10 global universities, and that outside of a few notable venture capital firms, the market for unicorn investments at the seed stage is highly fragmented.

Female founders in India face funding biases, receive $300 million in nine-month

Livemint

Livemint · 1y ago

Female founders in India face funding biases, receive $300 million in nine-month

Female founders in India face significant challenges in securing funding for their businesses compared to male founders, according to a report by Encubay. Out of 799 funding deals that took place between June 2023 and February 2024, only 163 were secured by ventures with at least one female founder. The total funding raised during this period was $6,646 million, with ventures founded by women receiving only $300 million, or 4.5% of the total. The report also highlights several women-founded businesses that successfully raised funding, including GIVA, Blue Tokai Coffee Roasters, and The Sleep Company.

Gender pay gap widens as women go up the tech ladder

Economic Times

Economic Times · 1y ago

Gender pay gap widens as women go up the tech ladder

The article discusses the widening gender pay gap in the technology sector as women ascend the corporate ladder. A report by Aon suggests that the unadjusted gender pay gap in the sector is around 28-30%, with a slight improvement from the 34-35% during the Covid-19 pandemic. The study also highlights the underrepresentation of female engineers in higher salary brackets compared to their male counterparts. However, companies like Capgemini, Mphasis, and Hexaware Technologies are implementing initiatives to create a fair and diverse workplace and address the pay gap issue.

Apple accused in lawsuit of underpaying female workers in California

Economic Times

Economic Times · 1y ago

Apple accused in lawsuit of underpaying female workers in California

Tech giant Apple is facing a proposed class action lawsuit alleging that it systematically underpays female employees in California compared to their male counterparts in similar roles. The lawsuit, filed in state court in San Francisco, claims that Apple bases starting pay on previous salaries or salary expectations, resulting in lower pay rates for women. It also alleges that Apple's performance evaluation system is biased against women. Apple has yet to respond to the lawsuit.

India rising as Big Tech breaks bank for AI talent - The Economic Times

Economic Times

Economic Times · 1m ago

India rising as Big Tech breaks bank for AI talent - The Economic Times

India is becoming an attractive destination for AI jobs due to its cost-effectiveness compared to global salaries, which are rising due to demand for AI talent in companies like Meta. Although Indian AI professionals earn significantly less than their US counterparts, India offers a favorable cost-quality balance. However, to strengthen its position, India must enhance its high-end AI R&D capabilities and invest in upskilling to foster innovation and compete globally.

Women's job applications in hardware engineering surge 26% in 2024: Report

YourStory

YourStory · 3m ago

Women's job applications in hardware engineering surge 26% in 2024: Report

In 2024, India's hardware engineering sector saw a 26% increase in women's job applications, reflecting a shift in a male-dominated field, according to a WorkIndia report. Male applications grew by 19%. This rise in female participation highlights evolving diversity in tech roles. WorkIndia analyzed 33.46 lakh applications over two years and noted significant trends, including increasing tech roles in tier-III cities and a 30% increase in job supply in tier-I markets.

Salaries for quick commerce delivery execs higher than food delivery: report

Economic Times

Economic Times · 9m ago

Salaries for quick commerce delivery execs higher than food delivery: report

A new report has found that delivery executives in the quick commerce sector earn higher incomes compared to those in food delivery. The report reveals that quick commerce delivery partners earn a net income of Rs 21,402, while their food delivery counterparts earn Rs 18,595. Quick commerce delivery partners also complete 29.7% more orders per month compared to food delivery. The report suggests that the lower last mile costs and shorter delivery distances in quick commerce contribute to its higher income potential. The quick commerce market in India is projected to be worth $42-55 billion by 2030.

Unicorns worldwide: India ranks third with 67 unicorns, US has 703, China has 340

Business Today

Business Today · 1y ago

Unicorns worldwide: India ranks third with 67 unicorns, US has 703, China has 340

India's startup ecosystem is experiencing a decline in unicorn creation, according to the Hurun Global Unicorn Index 2024. India had 67 unicorns in 2023, one less than the previous year. In contrast, the US had 703 unicorns and China had 340. The overall value of unicorns globally reached $5 trillion. The slowdown in India's startup ecosystem is primarily attributed to a lack of investment, despite record stock market highs. However, Indian founders are establishing more unicorns abroad, particularly in the US.

A SpaceX employee is suing the company, alleging her manager forced her into a sexual relationship that led to pregnancy

Business Insider

Business Insider · 1y ago

A SpaceX employee is suing the company, alleging her manager forced her into a sexual relationship that led to pregnancy

A female employee of SpaceX has filed a lawsuit against the company, accusing it of discrimination and retaliation. The employee, Michelle Dopak, alleges that she was paid less and denied promotions compared to male colleagues. She also claims that she was forced into a sexual relationship by her married manager, resulting in a pregnancy. Dopak states that when she reported the affair, SpaceX retaliated against her. The lawsuit also accuses top executives of ignoring complaints of gender-based discrimination. SpaceX is already facing other lawsuits alleging underpayment and discrimination. The company denies any wrongdoing.

'Black Twitter' asks 'What if Sam Altman were a Black woman?' in the wake of ouster

Business Insider

Business Insider · 1y ago

'Black Twitter' asks 'What if Sam Altman were a Black woman?' in the wake of ouster

The paragraph discusses the comparison between the high-profile firings of Sam Altman from OpenAI and Timnit Gebru from Google's ethical AI team. It highlights how Altman was quickly reinstated and offered a job at Microsoft, while Gebru's departure resulted in protests and less support. It also raises questions about the different reactions to the ousting of white founders compared to black founders, particularly black women. The lack of diversity in the tech industry and the dominance of white, male decision-makers are also mentioned.

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