It pays to be a man if you’re a partner at a law firm in London, a study has found.
The annual average earnings for a woman is £502,841, but men take home £667,521, an additional 24%, according to legal search firm Major, Lindsey & Africa.
The partners surveyed represented 67 Magic Circle firms, the top 30 UK firms and the AmLaw 100 firms with London offices. There was a 10% difference in originations (sourcing new clients or work) with women responsible for £1,810,976 compared to £2,017,857 for men, suggesting that factors other than the ability to generate revenue account for the majority of the gender pay gap.
However, only one third of partners know whether their firm has calculated its gender pay gap and, even among firms that have calculated the gender pay gap, few partners were able to confidently state the value of the gap. Under new regulations, organisations with more than 250 employees must report their gender pay gap by 4 April 2018.
