Despite substantial progress toward pay equity, women in 2022 still earn 17% less than men on average. Many explanations for this gap have been proposed: Women may choose to work in lower-paying occupations; they may have less experience due to having taken time off to have kids or care for elders; they may shy away from negotiation or competition; they may be passed over by managers, perhaps due to conscious or unconscious bias. But what would happen to the earnings gap if we eliminated all of these factors?