As the Founder of Lunum, I faced the challenging task of determining my own salary. I spent considerable time carefully considering my personal needs while being mindful of the majority equity I held in the company. I also recognized that every dollar I didn’t pay myself could be directed towards compensating another employee, contributing to a more equitable workplace.

I initially settled on a salary that I believed to be fair and just, aligning it with the stage of the venture and the company’s financial situation. However, my sense of satisfaction was short-lived. While doing one final run at benchmarking, I stumbled upon an article focusing on founder pay, demographics, and geography. To my dismay, I discovered that female founders at a similar stage of development in the Midwest were taking on average 20% less pay than their male counterparts. Even more alarming was the realization that my salary was nearly identical to the figures reported for Midwest female founders.

This revelation unsettled me deeply. Lunum was founded with a clear vision – to enable sustainable prosperity, with wage equity being a fundamental element of this vision. Our company handbook outlines this commitment explicitly: “We live the vision and set the standard of high impact in communities, diversity in the workplace that reflects the local community, creating good jobs, paying fair and equitable wages above the living wage, and we are intentional about making sure everyone has the opportunity to flourish.”

Here I was, unintentionally perpetuating pay inequity within my own company, directly contradicting the principles we had set out to uphold. Seeking advice from other women in my network, I found their counsel aligned with the company’s values – if I could live without it, I should take less pay. Even some female mentors supported this perspective.

But I knew that for true change to happen, it had to start with me. One of the reasons Lunum was created was to bring visibility to gender and pay equity issues in organizations and supply chains. How could I advocate for wage equity in other companies if I wasn’t practicing it within my own? I realized that I needed to lead by example and uphold the standards we had set forth.

In the end, I made a conscious decision to give myself the raise, aligning my salary with the value I brought to the company and the responsibility I carried as a founder and CEO. I drew on the advice of experienced male mentors who had been in my position before, grateful for their guidance. It was essential for me to balance self-care and financial responsibility while ensuring I didn’t inadvertently perpetuate the very issue I aimed to combat.
 

The Urgency of Intentional Advocacy: 

The lessons learned from these experiences underscore the critical need for intentional advocacy in the workplace and beyond. As leaders and parents, we must recognize the far-reaching consequences of pay disparities and actively work towards closing the gap. By creating workplaces that prioritize diversity, equity, and inclusion, we can set a positive example for future generations and pave the way for a more just and equitable society. Remember, the change begins with us – one paycheck, one person, and one intentional decision at a time.
 

Conclusion:  

The journey to address pay inequity is complex, and even those with the best intentions may unknowingly contribute to the problem. My experience as a Founder & CEO taught me that we must be vigilant and intentional in our efforts to promote wage equity. By adhering to our values and leading by example, we can create a ripple effect that extends beyond our organization, influencing positive change within our communities and industries. It is only by actively advocating for ourselves and others, as leaders and parents, that we can drive the transformation needed to close the gender and racial wealth gaps – one paycheck, one person, and one intentional decision at a time.
 

-Jill Miller, Founder and CEO of Lunum