![]() “Last year, for example, women analysts were earning more than men but then it reversed somewhere in the middle, where from there on out, men earned more,” said Merchant. Interestingly, these findings contrast with those of the 2020 survey. However, this excludes female partners, who pull 27 percent less in salary, and 90 percent less in bonuses, according to the survey. RELATED: StandUp Ventures reveals second fund dedicated to women-led startups with $30 million initial close Bonus-wise, female analysts also make 43 to 46 percent less than men, while associates earn the same.Ĭonversely, women on the investment side of VC working in more senior roles, including as senior associate, vice president, principal, and director, make more than men for the most part. On the VC investment side, the Canadian Women in VC survey found that women working in analyst, senior analyst, and associate roles make three to 13 percent less than their male counterparts in median salary. But, according to a 2018 report from Female Funders, women represented only 14 percent of Canadian VCs at the time.Ī 2019 report from Female Funders and Highline Beta also indicated that just 13.5 percent of partners at Canadian venture funds are women, with only 8.9 percent serving as managing partners, suggesting women also remain underrepresented in leadership investment roles. VC funding in Canada has soared amid COVID-19, and the sector has seen an explosion of high profile exits fuelled by the growth of Canadian tech companies during the pandemic.Īmid that, Canada has a number of women-focused and led investment groups, including Toronto-based StandUp Ventures, BDC’s Women in Technology Venture Fund, Calgary’s The51, and Halifax-based Sandpiper Ventures. RELATED: Canadian VC funding hits all-time high as seed investment continues to lag “We had really good representation last year, so it felt appropriate to be more vocal this time around.” “In the past, was … generally like an unspoken thing, or only talked about behind closed doors,” said Merchant, a former associate at Relay Ventures and current investor at the Telus Pollinator Fund for Good. After skipping 2019, Canadian Women in VC launched its second survey in 2020, recording participation from 120 people. The organization put together its first VC compensation survey in 2018, generating 26 responses. Nabeela Merchant, a Canadian Women in VC committee member who helped put together this survey, told BetaKit that the organization decided to be more vocal given the amount of responses its survey generated in 2020. #Venture forthe salary seriesThe Toronto-based grassroots organization, which began as a bi-monthly dinner series with five women, has since grown into a community with over 200 active members. #Venture forthe salary professionalThrough the anonymized survey, which collected responses from 140 individuals working in VC in Canada, Canadian Women in VC wants to “increase transparency around compensation data, spark more conversations, and move the dial on equitable compensation.”įounded in 2017, Canadian Women in VC aims to support the next generation of women in Canada’s VC sector through professional development and networking opportunities. These findings suggest that although the Canadian VC sector has taken some strides towards equitably compensating male and female investors, two groups of women remain underpaid relative to their male counterparts: women in early-career investment roles, and women working in operations. The survey found that, for investment roles, salaries and bonuses are lower for women than men in more junior roles, but higher in more senior positions, with the exception of partners. On the operations side of VC, the survey reported that although women represent a majority across all roles, they are consistently paid less than their male peers. The 2021 Canadian Venture Capital Compensation Report found that, for investment roles, salaries and bonuses are lower for women than men in more junior roles, but higher in more senior positions, with the exception of partners. Share on: Twitter LinkedIn Facebook EmailĬanadian Women in VC has released its third annual survey, which paints a picture of gender-based compensation across roles in Canada’s venture capital (VC) sector. ![]()
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