Phil Knight, the founder of Nike, paid her $35 that time but in the future compensated her by giving her 500 shares of Nike stock and a gold "Swoosh" diamond ring. In 1971, Davidson designed the "Swoosh" logo while still a graphics design student.

The evolution of the Nike logo 27/nov/2013 - Nike's logo designer, Carolyn Davidson, was only paid $35 for the famous Nike Swoosh symbol. One by one, she presented a handful of sketches.
Why don’t you come out and we’ll all go to lunch.” During a recent visit to Davidson’s eastside Portland home, a videotape recorded Sept. 15, 1983, is playing. He needed a logo to put on the side of his company’s shoes. Carolyn Davidson was first approached by Nike co-founder Phil Knight in the late 1960s. "Well, I don't love it," Phil Knight said at the time, "but maybe it will grow on me."

Knight gave the task to Carolyn Davidson, a graphic design student at Portland State University, where he was teaching accounting classes. She billed Blue Ribbon Sports, which later became Nike, $35 for her work. She continued to work for Nike for four years, and eventually got $1 million and a ring of gold and diamonds in the Swoosh design. “Carolyn,” Woodell told her on the phone, “Phil and I haven’t seen you forever. 09-10-2014 - 1971 Nike’s Swoosh design logo was created by Portland State University graphic design student Carolyn Davidson when asked by Knight. At the time she was paid $35 (US), and also worked for Nike for a few years until they needed a full ad agency. Knight offered Davidson $2 an hour to work up a suitable idea and the only guidance he gave was to convey motion and avoid similarity to Adidas’ ubiquitous three-stripe logo. The Nike "Swoosh" logo was designed in 1971 by Carolyn Davidson In 1983 Phil Knight, ... the joke was followed by a Gold Ring reproducing the Swash symbol and un unclosed amount of stocks in the Nike company. Woodell rang up Davidson. But ultimately the three men circled back to the checkmark, her favorite. Carolyn Davidson, pushing back disappointment that spring day in 1971, pressed on. It opens with a clearly surprised Davidson walking into Nike’s Washington County offices. Carolyn Davidson was paid $2 per hour and she billed Phil Knight for 17.5 hours which gave her a paycheck of $35.

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