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Big Banks

Female Law Partners Still Make Far Less Than Male Counterparts

October 12, 2016

Is BigLaw perpetrating the gender gap in pay?  Apparently so, according to the latest survey of big-firm partners released on Wednesday by the legal search firm Major, Lindsey & Africa.

 

At big American law firms, there is a 44% difference in pay between female partners and their male colleagues - largely because men bring in more big-ticket legal cases, or are better at getting credit for doing so.  Female partners, on average, earned $659,000 annually compared with an average of $949,000 for male partners.  Over all, average compensation for partners was $877,000 – 22% higher than 2 years ago. The findings are based on responses from 2,100 partners at law firms nationwide.

 

Rainmaking, or attracting legal work from clients, has always been a top factor in lawyer earning power and, it appears that men are better at receiving credit for landing big cases.  Women partners on average were found to bring in an average of $1.7 million worth of business compared with the $2.6 million average of their male counterparts.  Two years ago, women brought in $1.2 million worth of business, and male counterparts chalked up $2.2 million.

 

One reason for the lag in pay for female partners in either attracting business or getting credit for it is that the “old boys network” still has an outsize influence.