In the 90s, third-wave feminism told women we could “have it all.” Build the career. Raise the kids. Climb the ladder. Break the glass ceiling. Stay ambitious, stay kind, stay in shape. On paper, it felt like liberation. In practice, it left many women stretched thin and quietly wondering if this was really what equality was supposed to feel like.

Second-wave feminism in the 60s and 70s gave us extraordinary gains: access to higher education, workplace rights, and the chance to step beyond traditional roles. But looking back, it’s clear much of that momentum was also tied to an economy eager for more workers. We weren’t just breaking ceilings; we were stepping into systems never designed with us in mind. Third-wave feminism built on that, championing empowerment and choice, but it was often framed through an individualistic lens that didn’t challenge the structures women were stepping into.

As we reflect after another Women’s Equality Day, it’s worth asking: how far have we really come?

We’re now in the era many call fourth-wave feminism, rooted in intersectionality, recognizing that women’s experiences are not universal, and that gender equality cannot be separated from race, class, sexuality, and ability. It’s been shaped by digital activism, bringing movements like #MeToo and body positivity into global conversations, and amplified by the voices of women of color who were long sidelined by earlier waves.

Still, inequities persist. Women now hold 31.7% of executive roles globally, but just 8.2% of S&P 500 CEO positions. Only two of those CEOs are Black women, just 0.4% of the total. In the U.S., white women earn about 82 cents for every dollar earned by white men, Black women earn roughly 66 cents, and Latina women just 58 cents. The U.S. also remains the only G7 country without guaranteed paid parental leave; under the Family and Medical Leave Act, eligible employees can take up to 12 weeks unpaid. In freelance and creative industries, maternity leave is often out of reach entirely, forcing many women into a choice between career and family.

And maybe that’s because the goal was never just to help women do more. True equality asks deeper questions: What kind of systems are we building? Who benefits? Who’s left carrying too much?

That’s why the emerging fifth wave of feminism matters. Where previous waves fought for access and individual advancement, the fifth wave is about collective wellbeing, valuing care work and community alongside ambition, and creating systems where women, men, and all marginalized groups can thrive. It’s not about climbing ladders faster; it’s about redesigning the ladder entirely.

I’ve already seen the seeds of this in creative industries: women in leadership roles job-sharing so they can maintain careers and watch their children grow and a prioritization of the voice of women in film and TV where we’re seeing just how important the presence of those voices is to telling authentic stories.

So how do we start building that future elsewhere?
We begin with small, intentional steps: mentoring women for leadership roles, creating flexible work policies so caregiving is shared across genders, and ensuring marginalized groups aren’t just included but truly lifted up. Equity isn’t about one group winning while another struggles, it’s about systems that lift all of us. A truly equitable society depends on everyone being supported and empowered to support each other.

As we reflect after another Women’s Equality Day, let’s challenge ourselves: Are we building an equal future, or just polishing the surface?

Because equality shouldn’t mean women carrying more, it should mean creating spaces where no one carries the weight alone.