Female Unicorn Founders Earning 8X Less Because They Are Females


Mohul Ghosh

Mohul Ghosh

May 29, 2024


There has been a stark gender pay gap displayed by the unicorn startups in the salaries of their founders!

Female Unicorn Founders Earning 8X Less Because They Are Females

Gender Disparity in Founder Salaries at Indian Unicorns

As per the report by PrivateCircle Research, as against Rs 8.5 crore given to their male counterparts, the average female founders are taking home only Rs 1.1 crore.

Is FY23, male founders earned a median of Rs 1.8 crore, whereas female founders earned Rs 1 crore. Notably, what is also concerning is the absence of women directors at unicorn companies. 

As per PrivateCircle’s analysis, 57 Indian unicorns had no women on their boards as of March 2024.

There has also been a rise in the median salary of founders; this is reflected in the fact that as against Rs 1.2 crore in FY22, founders took home Rs 1.5 crore in FY23. 

The same number was much lower, around Rs 90 lakh in FY20 and FY21.

Founder Salaries in Indian Start-ups: Contrasts and Trends

However, there has been an exception in the face of FirstCry’s Supam Maheshwari who took home a whopping Rs 200 crore in FY23, on the very contrary, there is Slice’s Ranjan Bajaj, who took home just Rs 12 during the same period.  

Notably, as per the company’s draft red herring prospectus, Maheshwari’s salary was slashed by 49% during the first three-quarters of FY24.

For the first 3 quarters of FY24, his total remuneration was Rs 77.5 crore. 

He is also behind single-handedly pulling up Pune’s average for unicorn founders to Rs 3.7 crores highest across India.

With a median salary of Rs 3.5 crore, it was the media and entertainment unicorn founders who earned the highest salary in FY23. 

Although founders from logistics unicorns fetched Rs 1.9 crore in media salary, the sector came in at the top with an average salary of Rs 12.4 crore. 

Those in edtech space, made a median of Rs 1.6 crore.

Given the fact that the founder salaries for foreign registered companies has been excluded, the data is limited, especially provided when most of Saas unicorns have their companies registered abroad.


Mohul Ghosh
Mohul Ghosh
  • 980 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online