Why Female CEOs Gave Themselves Pay Cuts While Male CEOs Took Raises

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I am a global CEO, entrepreneur, business leader, linguaphile, philanthropist, feminist, and mother. After living, studying, and working in five countries across the globe, and quitting a particularly nightmarish job, I decided it was time to chart my own future. Driven by a passion for language and cultural diversity, and a vision to break down boundaries, forge new paths forward, and connect people and businesses across the globe, I founded my dream company out of an NYU dorm room. Today, that dorm-room startup is the world’s largest privately-owned language solutions company, with over $500 million in revenue, 4,000 employees, 11,000 clients, and offices in more than 90 cities around the globe. As for me, I’m still fueled by a passion for breaking down boundaries – not only geographically, culturally, and technologically – but also in the workplace for other entrepreneurial women working toward their dreams and building a better tomorrow. You can follow me on Twitter @LizElting.

Now, in response to these economic shocks, it would seem the most appropriate course of action for a CEO would be to take a pay cut to minimize layoffs, a course that prioritizes the bedrock of a company: the people who work there and, through no fault of their own, find their world turned upside down. In other words, it’s, a choice to take a hit for the team if it means minimizing the suffering of someone else and protecting the company’s future.

Yes, this is an extremely reductive and wildly outmoded way of thinking, but it has deep, deep roots going back to the dawn of human civilization, and we’ve been soaking in it our entire lives. It permeates us, like soup broth in a piece of bread. For men, success in business is instinctively taken to reinforce their manhood, their virility. For women, it raises questions about who is raising their children, or why they never married, and on and on and on and on.

 

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