Pay Gap Report
Q2 2023
Second Annual Report
Unwavering Commitment to Equity in Every Level of Our Company. As an early-stage startup, mpathic is committed to pay equity because we understand that it is inextricably linked to our team’s health and well-being. In that spirit, we are releasing our annual salary data for 2022, comparing employees across gender and race.
Representation
Given that we are a small team (15 FT; 19 PT) our race data is broken down between White and BIPOC. In the years to come we hope to share more granulated data so that we can better track our commitment to anti-racism. Percentage of total hires since company formation.
| Full Time | Part Time | |
|---|---|---|
| Women & Non-binary | 63% | 79% |
| BIPOC | 31% | 32% |
Beyond our workforce, we have representation in our investors and advisors.
| Advisors & Investors | |
|---|---|
| Women: 77% BIPOC: 44% | 100% of our 4M in seed funding came from women & BIPOC General Partners in VC firms. 100% women on Board |
Median Base Salary Excluding Equity Across Gender & Race
| Men earned 24% more than women in 2022. | White employees earned 3.5% more than BIPOC in 2022. |
The 2022 analysis presented above prompted adjustments in pay to reduce the gender wage gap to 7% in 2023. Note that every full-time employee is granted the opportunity to earn equity/stock options at hire and the option to take less equity in lieu of increased salary or vice versa. Equity/stock options are not represented as part of total compensation in this analysis.
Accountability
How We Hold Ourselves Accountable
We’ve been working hard to implement practices and policies that keep us on track for pay equity across gender and race. These include:
- Following data driven and research-backed best-practices.
- Using an Equal Value Estimator to ensure employees are being paid for their talents and skills.
- Data tracking—we keep track of where we post job ads, who applies, is interviewed, and who is invited to join our team.
- Publishing a transparent Commitment to Equal Pay and measurement standards.
- Embedding DEI standards into our hiring and retention practices, including 30/60/90 day reviews.
- Fostering financial literacy among our team, including consultants being available to new hires and offering ongoing support as our employees set out to reach their personal financial goals.
- Reflecting on our 2022 salary data we have restructured our pay and promotion planning.
- Reduced pay gap from 24% to 7% in 2023 based on 2022 pay equity analysis.
Social Justice and Equity are Critical to Our Mission and Work
As an early stage startup, recruiting and retaining a diverse team is directly linked to the strength and reach of our work. It takes diverse talent and lived experience to build the strongest generative AI product possible. We invite other companies to report pay equity as a means of closing the wealth gap in tech across gender and race.
v 1.0 | May 1 2023