Equal pay for men and women lawyers forecast for 2021

The gender gap between the total compensation of male and female lawyers is narrowing at an average rate of 4 per cent a year meaning that, at current trajectories, salaries should reach parity by 2021, according to a legal recruitment specialist.

Between 2012/3 and 2014/5, the gap fell from 32 per cent to 24 per cent. However, men in the legal industry enjoy average bonuses of £38,400 - 66 per cent greater than the female average of £23,200.

Data from Laurence Simons Salary Survey 2014/15, which received responses from over 2,500 lawyers, revealed that more male lawyers received bonuses than their female counterparts in 2014, with 75 per cent being paid one compared to just 58 per cent of women.

An analysis by the legal recruiter and compliance specialist found that female lawyers have enjoyed a growth of 5 per cent in their average annual salaries over the past year, up from £114,100 in 2014 to £119,600.

In terms of basic salaries, female lawyers have also seen a 3 per cent rise annually, with the average climbing from £93,200 to £96,400 in 2014/5.

Chris Cayley, EMEA managing director at Laurence Simons, commented: 'Earning equality between the genders in junior legal positions is widely accepted, with firms across the board having set rates for trainees and newly-qualified associates.

'However, it is no secret that pay further up the ladder has been subject to a significant gender imbalance over the years, and the news that this is closing is only to be welcomed.'

Bonus increases

In contrast to the women's annual pay packet figures, male lawyers have seen their salaries fall. Total packages decreased for the third year in a row, falling 2 per cent from £160,000 in 2013/4 to £157,000 this year, according to the survey.

Laurence Simons says this has been driven by a 2 per cent fall in the size of the average male lawyers' basic salary, from £120,500 to £118,600 over the past 12 months. However, bonuses for men are on the up - increasing by 20 per cent annually in 2014/15.

'Obviously we still have a long way to go and as arguably the leading jurisdiction for legal services in the world we should be leading not only on the quality of law we practice, our transactions, and advice, but also on how we reward the exceptional legal talent we have in the UK.

'We are now operating in a fiercely competitive global legal market and we need to keep working on eliminating the pay gap or risk losing talented people,' added Cayley.

The specific figures in the Laurence Simons survey, though different, back up a separate study of 6,000 lawyers published in The Lawyer, which found that the gender pay gap was still prevalent in the profession with the difference between average salaries calculated at £24,000.

Work-life myth

In addition, Laurence Simons' findings also dispel the myth that women are more likely to seek a better work-life balance than men, with 14 per cent of male and 13 per cent of female lawyers reported changing roles in order to boost their work-life balance.

'Our research has shown this is a stereotype without basis, when in truth both sexes are equally focused on finding a role that offers their career development the biggest boost whilst allowing for a healthy work-life balance, said Cayley.