However, a recently published book argues that there’s another fertility-related wealth gap to consider: the one that’s developing between men and women as a result of the popularization of egg freezing.

In The Mother Code, journalist Ruthie Ackerman grapples with her own conflicting feelings around motherhood and, ultimately, her decision to have a child in a way and at an age that goes against societal convention. On the one hand, she celebrates the scientific breakthroughs that allow her to build her family. On the other, she explores the complex world of Instagram-friendly fertility startups which breezily promise women that, in exchange for $15,000 – $20,000 (the average cost of one egg freezing cycle in most major US cities), they can “have it all,” at any time they want, as she puts it. “Young women are forced to choose between freezing their eggs to give themselves a fertility ‘insurance policy’ and saving for retirement,” she writes. While not yet a mainstream benefit, some companies do cover egg freezing, as do some states. There are often caveats to the latter, however, such as coverage not applying to women freezing eggs for social or elective reasons.

Demand for egg freezing in the US is soaring, with the Society for Assisted Reproduction Technology reporting a 39.2% year on year increase in cycles in 2023. Also on the rise are sperm-freezing startups, offering men the opportunity to preserve their fertility—often via at-home kits—for a fraction of the cost of their female peers. (The process costs anywhere between $500 and $4000 depending on the company or clinic.) Nevertheless, biology means that fertility preservation is a more pressing issue for women, bringing with it a significant financial, emotional and physical cost: one egg freezing cycle lasts around two weeks and involves the daily injection of hormones followed by an egg retrieval procedure. Depending on the number of eggs collected, some women undergo multiple cycles. “Young women are bearing the brunt of the financial burden to be able to have children later in life, even though men benefit from starting families later, too,” writes Ackerman.

It’s an issue I’m familiar with—as are my single girlfriends. All in our early to mid thirties, egg freezing is a frequent topic of conversation. For those who want children, not doing it can feel irresponsible in an age where we’re told by many fertility companies that securing our future family is “easier than ever.” And yet, egg freezing is no guarantee of a pregnancy in years to come and its price tag makes it inaccessible to many women who would like the option. For those of us who go ahead (as I did), the relative peace of mind it brings is mixed with resentment that we have to drain our savings accounts to make it happen. (In addition to the upfront costs, clinics charge around $500 to $1000 per year for egg storage). I flew from New York to freeze my eggs in my native England where medical costs are substantially lower. I paid about £5000 (approximately $6700) for one cycle.

What’s the solution? “Companies need to step up with fertility benefits,” Ackerman tells me. “States need to step up. Insurance companies need to step up.” Let’s hope this happens soon so that women no longer have to choose between financial stability and their future families.

Ellie Austin
ellie.austin@fortune.com

The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Sara Braun. Subscribe here.

ALSO IN THE HEADLINES

- Success for Swiatek. Polish tennis player Iga Swiatek won the women’s single final at Wimbledon on Saturday, beating out Amanda Anisimova, the youngest American woman to make it to the Wimbledon final since Serena Williams, in a decisive 6-0, 6-0 victory. Associated Press 

- A new safety program in Germany. Multiple German cities have begun offering night cab voucher programs for women, offering them €10 coupons to ensure they have a safe ride home. The initiative is intended to combat rising rates of violence against women in Germany. In 2023, crimes against women in the country increased in all categories, with sexual offenses surging by more than 6%. Bloomberg

- Trump has Bondi’s back. President Trump defended Attorney General Pam Bondi on Saturday amid backlash from some of his supporters over her handling of the circumstances surrounding Jeffrey Epstein’s death. He posted on Truth Social that Bondi was doing a “FANTASTIC JOB” and that the administration’s time should not be wasted on the case. Reuters

- Tragedy at Camp Mystic. The federal government previously granted Camp Mystic requests to remove buildings from government flood maps, according to recently reviewed documents and data. At the behest of the all-girl’s camp, FEMA removed more than a dozen buildings from a designated floodplain area in 2013, 2019, and 2020, leading to the elimination of federal requirements to build in certain ways and obtain flood insurance. Over two dozen campers and the camp’s owner have died in the Texas flash floods. NPR 

MOVERS AND SHAKERS

Coca-Cola Beverages Florida, LLC, the sixth largest Coca-Cola bottler in the United States, promoted Karla Radtke to senior vice president, human resources and administration. She most recently served as vice president, chief of staff to the CEO. 

Prisma by Mediaocean, an omnichannel advertising tech company, announced the promotion of Stephanie Dorman to COO. She most recently served as chief customer officer at the company. 

ON MY RADAR

Karyn Tomlinson’s winding road to acclaim: from borrowing $25k for her ‘grandma chic’ restaurant to winning the historic James Beard Award Fortune

How 3 Muslim sisters helped change the rules of American women’s wrestling NPR

Megan Stalter is reinventing the rom-com heroine TIME

PARTING WORDS

“I was always under the impression that I had to be miserable to make good music. But I don’t think you have to torture yourself in order to make something good.”

— Singer and actress Reneé Rapp on misconceptions about songwriting