How Houston stacks up when it comes to its gender pay gap

mind the gap

A new study finds how Houston — and other Texas cities — rank in terms of the pay gap between male and female workers. Photo via Getty Images

Pi wasn't the only thing celebrated yesterday on March 14. Equal Pay Day is also celebrated on the same day — a day to examine the decades of advocacy to extinguish the pay gap between men and women.

Unfortunately, nationwide the gap is still large. The latest Census Bureau says women make 18 percent less money than men do. We know the numbers for Texas and several of its cities, thanks to a new study by small biz experts Chamber of Commerce. They investigated the earnings for full-time workers in 170 of the most populous cities in the United States.

The analysis found that Texas has the 29th largest pay gap out of all 50 states, with women making nearly $11,000 less than men. Texas women can be glad they don’t live in Wyoming, which has the largest pay gap of the states at almost $19,000.

The city with the largest gender pay gap in the United States is Sunnyvale, California, home to Silicon Valley, with an earnings difference of $40,584 between men and women. Actually, California cities make up half of the top 10 largest gender pay gaps.

Texas, however, has two towns in the top 10. Coming in at No. 2 is Frisco and McKinney lands at No. 5. Frisco men make nearly $40,000 more than women, while McKinney men make $29,000 more than women. Just outside the top 10 is Plano at No. 12, with their gender pay gap adding up to $20,736.

How does Houston fair? Not too shabby, actually. The Bayou City landed at the No. 114 spot out of 170 of the most-populated cities in the U.S. Dallas actually has the smallest gender pay gap in Texas, coming in at No. 166 with just $192 between full-time working men and women.

Here's how the rest of Texas ranks:

  • No. 13 – Austin
  • No. 25 – Pasadena
  • No. 30 – Lubbock
  • No. 45 – Fort Worth
  • No. 70 – Irving
  • No. 71 – Corpus Christi
  • No. 74 – San Antonio
  • No. 89 – Arlington
  • No. 93 – Grand Prairie
  • No 97 – El Paso
  • No. 101 – Laredo
  • No. 110 – Amarillo
  • No. 125 – Brownsville
  • No. 134 – Garland

The full study can be found on chamberofcommerce.org.

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This article originally ran on CultureMap.

According to the American Association of University Women, women are losing $500 billion each year because of the gender pay gap. Pexels

Equal Pay Day is nothing to celebrate without forward action

Calling for progress

National Equal Pay Day, which symbolizes how far into the year women must work to earn what men earned in the previous year, falls on April 2 this year and marks a 56-year effort across the nation to have employers address the gender pay gap and provide equal pay for equal work.

That effort is now, closer than ever, to reality as the U.S. House of Representatives, in a heartening move this week, passed the bipartisan Paycheck Fairness Act, authored by Congresswoman Rosa DeLauro and co-sponsored by newly elected Texas Congressman Colin Allred.

The act, among other things, would require employers to prove that pay disparities exist for legitimate job-related reasons, prohibit employers from relying on salary history in determining future pay, provide assistance to all businesses to help them with their equal pay practices and recognize excellence in pay practices by businesses. It would also get rid of rules imposed by employers that prohibit workers from talking about their salary, so women are permitted to ask how much their coworkers are making and find out if they are underpaid.

This legislation is a leap forward in closing the persistent and woeful gender pay.

Statistics show that although more women, nationally, are receiving undergraduate and graduate degrees compared to men, and are equally qualified for the work as their male counterparts, they continue to receive about 82 cents for every dollar earned by men, and women of color earn even less (e.g. Black women earn 63 cents for every dollar and Hispanic women earn just 54 cents for every dollar). At this rate, without any affirmative or proactive changes, it will take another 51 years for women to catch up to men's wages.

In Texas, the outlook around women's pay and the gender gap is grim.

According to the Texas Women's Foundation, in Dallas County, women made almost 93 percent of what men earned, compared to just about 70 percent in Collin County and a little more than 76 percent in Denton County.

According to the American Association of University Women, women are losing $500 billion each year because of the gender pay gap. U.S. corporations suffering those kind of financial losses would send shockwaves through our economic system.

If women made the same pay as men, they would not only be able to better care for their families, but put aside more money in their retirement or pension funds, pay off college loans and mortgages, and enjoy better healthcare and a healthier lifestyle. Research by the Texas Women's Foundation has shown that if working women in Texas were paid the same wages comparable to men, the poverty rate would be reduced by 51 percent.

Companies should not just support the Paycheck Fairness Act, but also become assertive about equal pay and gender diversity, and treat them as an integral part of their business strategy. In order for businesses to truly benefit from the myriad of backgrounds and experiences in our global economy, we must ensure a level-playing field for women and other underrepresented employees. Then and only then will our nation's workplaces and businesses truly thrive. Mr. President and senators — let us pass the Paycheck Fairness Act now.

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Mandy Price is the CEO and co-founder of Dallas-based Kanarys Inc., a web platform that incorporates data and AI to foster diversity, equity, and inclusion in the workplace.

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Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

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