London, England (January 29, 2018) – A new compensation survey released today by Major, Lindsey & Africa (MLA), the world’s largest legal search firm, reveals that compensation for male partners outpaces that of female partners by 24%.
The survey was conducted in conjunction with Acritas and measured respondents’ satisfaction with their professional lives and their work as lawyers. It fielded responses from partners representing 67 firms in the Magic Circle, the top 30 UK firms and the AmLaw 100 firms with London offices.
Female partners reported earning an average of £502,841 annually, compared to an average of £667,521 earned by male partners. The difference in originations between women and men was 10% – with female partners responsible for average originations of £1,810,976, compared to £2,017,857 for male partners. This suggests that factors other than the ability to generate revenue account for the majority of the gender pay gap.
“This data highlights that we still have a long way to go before we reach compensation parity for women in law firms,” said Nick Paleocrassas of Major, Lindsey & Africa’s Partner Practice Group. “While the survey brings to light many positives, particularly that City partners overall feel relatively satisfied and fulfilled, it also accentuates some of the challenges that come with practising law at the highest level.”
The survey also revealed that satisfaction among laterals was notably higher than among home-grown partners: 76% of lateral partners described themselves as satisfied (without factoring in compensation considerations) vs. 57% of home grown partners.
Additional matters relating to partner compensation were also examined, such as willingness to trade compensation for other benefits, perceived bias impacting compensation and transparency of remuneration structure and compensation system.
Other key findings include:
Major, Lindsey & Africa regularly conducts a Lateral Partner Satisfaction Survey and a Partner Compensation Survey in the U.S. and London, giving a voice to law firm partners around the world about their earnings, compensation potential and career satisfaction. The full report of Major, Lindsey & Africa’s London Partner Compensation Survey is available here.
About Major, Lindsey & Africa
Founded in 1982, Major, Lindsey & Africa is the largest and most experienced legal search firm in the world. With more than 25 offices worldwide, Major, Lindsey & Africa has earned recognition for its track record of successful general counsel, corporate counsel, partner, associate and law firm management placements. The firm also provides law firms and companies with highly specialized legal professionals on project, interim and temporary-to-permanent hire basis. Combining local market knowledge and a global recruiting network, Major, Lindsey & Africa recruiters are dedicated to understanding and meeting client and candidate needs while maintaining the highest degree of professionalism and confidentiality. The firm considers every search a diversity search and has been committed to diversity in the law since its inception. Major, Lindsey & Africa is an Allegis Group company, the global leader in talent solutions.
To learn more about Major, Lindsey & Africa, visit www.mlaglobal.com.
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