Social justice mathematical modeling is powerful in helping teachers build awareness of social issues, critique existing systems, and engage in rich mathematical reasoning. In this article, we document a task in which 28 preservice teachers (PSTs) explored if teacher pay is fair and how to define "fair" mathematically. Through qualitative analysis of PSTs' reflections, we studied the effectiveness of the task through the lens of critical consciousness. Twenty-six of the participants reported developing social and mathematical agency with respect to the task. Because the task related to PSTs' lived experiences, it allowed them to examine their assumptions about teacher pay, empowered them to use mathematics to explore different perspectives, and helped them envision ways they could enact change.