As a woman who damn well makes enough to pay my own way (and, honestly, more than most of the guys I end up on first dates with), I'm insulted by the assumption that the man pays for the first date. That's an archaic custom that dates from a time when women weren't expected to have (significant) income sources. It suggests women can't take care of themselves, which is demeaning.
I for one am looking for an equal partner in life. A guy who won't accept that dynamic doesn't get a second date. It's actually a great way to filter out guys who aren't a good fit.