By Jane Croft
Female partners at London law firms typically receive 24 per cent less compensation than their male counterparts, a study has revealed.
A survey commissioned by legal recruiter Major, Lindsey & Africa found the average annual compensation for a female law firm partner was £502,841 compared with £667,521 for their male peers.
“The legal profession is still catching up. 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 the legal recruiter’s partner practice group.
He said the results emphasised that there were still fewer female partners and fewer women in senior management positions across the legal profession.
“Some women become partners later than men but in fact everyone is becoming partner later nowadays. It might have been that a lawyer would become a partner six, seven or eight years after qualification but that has now shifted to 14 or 15 years post-qualification as law firms all focus on increasing their profitability.” he said.