RedLaw Director, Amy Hambleton, discusses gender inequality in her most recent blog and how it could have a negative impact on your remuneration.
Despite the ever- evolving and modern world, gender inequality remains prevalent in many areas. However, it is now an issue which is being openly acknowledged and firmly on the agenda for business: in the last few weeks we’ve celebrated 100 years since women earned the right to vote, International Women’s Day on 9th March and gender pay reporting is now mandatory for certain sized businesses. 2019 brings with it the centenary celebration since the sex disqualification (removal) act in 1919 which allowed women to then study and become lawyers.
But the gender pay gap still exists and is prevalent in the legal industry. Magic Circle and global firms such as Addleshaw Goddard, Mishcon de Reya, Allen & Overy, Gowling WLG and Linklaters have all recently revealed pay disparities between men and women, in same cases with men receiving between 42% up to 64% more in bonuses at these firms and between 20% to 25% more pay per hour then females.
Is this across the board at all law firms? How does this affect you? At RedLaw, we are in a very privileged position to work with a huge variety of firms in the City and consequently have a detailed understanding of the picture of remuneration of lawyers within these firms. Overcoming pay disparities is in everyone’s interest to ensure a fair and balanced environment without the bias of gender.
Would you like to understand your remuneration position? Would you like guidance on achieving your remuneration aspirations? Would you like to understand how you compare with others? Please contact us to arrange a confidential meeting and we would be pleased to sit down and discuss your career.