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Statistical Evidence On The Gender Gap In Law Firm Partner Compensation
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Book Synopsis Statistical Evidence on the Gender Gap in Law Firm Partner Compensation by : Marina Angel
Download or read book Statistical Evidence on the Gender Gap in Law Firm Partner Compensation written by Marina Angel and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our study compiled the largest research sample on the gender gap in compensation at the 200 largest law firms by combining two large databases to examine why women partners are compensated less: because they are less productive than men partners or because they are women. The AmLaw 100 and 200 studies include gross revenue, profits, number of equity and non-equity partners, and the total number of lawyers at each firm. The Vault/MCCA Law Firm Diversity Programs study (Vault/MCCA) includes the gender ratios at each AmLaw 200 firm. Our study covers the years 2002 to 2007. The ratio of women equity partners to women non-equity partners is 2.546 compared to a ratio of 4.759 for their men counterparts over the six year period studied. An increase of 1% in the proportion of women partners at a law firm is associated with 1.112% lowering of the overall compensation for all partners at the firm. This disparity in compensation between women and men partners exists even after controlling for the lower compensation of non-equity partners and the greater likelihood for women to remain non-equity partners. Women partners are paid less than men partners despite the fact that they are not less productive in generating RPL for their firms. The average gross revenue of firms with the highest percentages of women lawyers was approximately $20 million dollars higher than firms with the lowest percentage of women lawyers, but the revenue per lawyer (RPL) of these firms dropped by approximately $120,000 per lawyer. The average compensation for the lawyers at the firm goes down as the proportion of women at a firm rises, indicating that women in all positions at a firm are paid less than their male counterparts. Since 1988, a low of 40.6% and a high of 50.4% of first year J.D. students have been women. The proportion of women in positions of power at the AmLaw 200 firms should have increased over the ensuing twenty-six years. Women represented approximately 50% of the associate hires during the eighteen years prior to 2001 but only 15-16% of partners. The women who make it to partner are paid less than their men counterparts. Our paper examines the gender gap problem in law firm compensation through an empirical lens. The results have important implications for economic discrimination research. Our statistical analysis concludes that women partners are compensated less than men on average at the AMLAW 200 law firms regardless of whether they are equity partners or non-equity partners. This gender disparity is not due to lower productivity of women partners. It is attributable to discriminatory practices under both disparate treatment and disparate impact analyses.
Book Synopsis Gender and Partner Compensation at America's Largest Firms by : Marina Angel
Download or read book Gender and Partner Compensation at America's Largest Firms written by Marina Angel and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study compiled the largest research sample on the gender gap in compensation at the 200 largest law firms by combining two large databases to examine the compensation disparities between men and women partners. The analysis elucidates the question of whether the difference is because women are less productive than men partners or because they are women. The Am Law 100 and 200 studies include gross revenue, profits, number of equity and non-equity partners, and the total number of lawyers at each firm. The Vault/MCCA Law Firm Diversity Programs study (Vault/MCCA) includes the gender ratios at each Am Law 200 firm. Our study covers the years 2002 through 2007, inclusive. We find that the ratio of women equity partners to women non-equity partners is 2.546 compared to a ratio of 4.759 for their men counterparts over the six year period studied. An increase of 1% in the proportion of women partners at a law firm is associated with 1.112% lowering of the overall compensation for all partners at the firm. This disparity in compensation between women and men partners exists even after controlling for the lower compensation of non-equity partners and the greater likelihood for women to remain non-equity partners. Furthermore, women partners are paid less despite the fact that they are not less productive than men partners in generating revenue per lawyer (RPL) for their firms. The average gross revenue of firms with the highest percentages of women lawyers was approximately $20 million dollars higher than firms with the lowest percentage of women lawyers, but the RPL of these firms dropped by approximately $120,000 per lawyer. The average compensation for the lawyers at a firm goes down as the proportion of women at a firm rises, indicating that women in all positions at a firm are paid less than their male counterparts. Nearly 80% of the Am Law 200 firms now utilize a two-tier structure of equity and non-equity partners. Firms are creating fewer equity partners and more non-equity partners. The development of two-tier partnerships, the lengthening of the time periods to make partner and equity partner, the reduction in the number of equity partners, the creation of new categories of permanent associates and permanent non-equity partners, the expanded number of permanent of counsel, and the demand for increased billable hours, have combined to increase income for a shrinking group of equity partners and to disadvantage women in large law firms. Our paper examines the gender differences in law firm compensation primarily through an empirical lens. The results have important implications in the area of economic discrimination research. Our statistical analysis concludes that women partners average compensation is less than that of men at the Am Law 200 firms, regardless of whether they are equity partners or non-equity partners. This gender disparity cannot be explained by lower productivity of women partners. It is more appropriately attributed to discriminatory practices under both disparate treatment and disparate impact analyses.
Book Synopsis The Trouble with Lawyers by : Deborah L. Rhode
Download or read book The Trouble with Lawyers written by Deborah L. Rhode and published by Oxford University Press, USA. This book was released on 2015 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: A broad, comprehensive foray into the debate about the legal crisis, written by one of the most respected and authoritative scholars of the legal profession.
Book Synopsis Women and Leadership by : Deborah L. Rhode
Download or read book Women and Leadership written by Deborah L. Rhode and published by Oxford University Press. This book was released on 2017 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Women and Leadership explores the causes and consequences of the underrepresentation of women in America's leadership roles. Drawing on comprehensive research and a survey of prominent women leaders, the book describes the reasons for gender inequity in leadership and identifies compelling solutions. It is essential reading for anyone interested in leveling the playing field for women"--
Book Synopsis First Thing We Do, Let's Deregulate All the Lawyers by : Clifford Winston
Download or read book First Thing We Do, Let's Deregulate All the Lawyers written by Clifford Winston and published by Rowman & Littlefield. This book was released on 2011-08-01 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Not many Americans think of the legal profession as a monopoly, but it is. Abraham Lincoln, who practiced law for nearly twenty-five years, would likely not have been allowed to practice today. Without a law degree from an American Bar Association–sanctioned institution, a would-be lawyer is allowed to practice law in only a few states. ABA regulations also prevent even licensed lawyers who work for firms that are not owned and managed by lawyers from providing legal services. At the same time, a slate of government policies has increased the demand for lawyers' services. Basic economics suggests that those entry barriers and restrictions combined with government-induced demand for lawyers will continue to drive the price of legal services even higher. Clifford Winston, Robert Crandall, and Vikram Maheshri argue that these increased costs cannot be economically justified. They create significant social costs, hamper innovation, misallocate the nation's labor resources, and create socially perverse incentives. In the end, attorneys support inefficient policies that preserve and enhance their own wealth, to the detriment of the general population. To fix this situation, the authors propose a novel solution: deregulation of the legal profession. Lowering the barriers to entry will force lawyers to compete more intensely with each other and to face competition from nonlawyers and firms that are not owned and managed by lawyers. The book provides a much-needed analysis of why legal costs are so high and how they can be reduced without sacrificing the quality of legal services.
Book Synopsis Bridging the Gender Pay Gap in Law Firms by : Stephanie Hawthorne
Download or read book Bridging the Gender Pay Gap in Law Firms written by Stephanie Hawthorne and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This special report focuses on law firms' gender pay gaps with statistics from the top 50 law firms. This follows the new UK government regulations that came into force in April 2017 which required statutory reporting of the gender pay gap for the first time. The report analyses what individual law firms are doing to fix the gender pay gap, including work allocation, mentoring, maternity support, parental leave, women's lawyers networks with analysis from HR directors and lawyers. The report also analyses the tricky question of whether equity partners' should also reveal their pay gap and the individual choices taken by leading city law firms. It also includes coverage of the Business, Energy and Industrial Strategy Select Committee on what action is being taken to address the gender pay gap and comment from the TUC.This cutting edge new report will be essential reading for law firm management and every practitioner interested to understand the gender pay gap in law and how women can be supported in their roles.
Download or read book After the JD written by Ronit Dinovitzer and published by . This book was released on 2004 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The After the JD project will track the professional lives of more than 5,000 lawyers during their first ten years after law school. Whilemost of the project will unfold in coming years, the data presented here provide a first snapshot of the stratified random national sample, based on questionnaires administered two to three years into the new lawyers' careers. The findings presented here will be elaborated and augmented through face-to-face interviews with a sub-sample of roughly 10% of the survey respondents. Building on this first wave, the future work of AJD will employ follow-up questionnaires and personal interviews six and ten years into the respondents' careers. When completed, it will be the first national study of the factors -- personal and professional -- that account for the wide spectrum of legal careers and experiences"--Introduction
Book Synopsis Survey of American Lawyers at Major Law Firms by :
Download or read book Survey of American Lawyers at Major Law Firms written by and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents the results of a survey of shareholders at more than 70 major American law firms. The study helps its readers to answer questions such as: how happy are shareholders with the current methods of distributing compensation to shareholders? What percentage is distributed in the form of salaries? In bonuses? How many firms have reserve funds and what percentage of total revenues after overhead do these funds account for? How many firms use a secret ballot for compensation issues? What do partners feel should be changed about the current compensation system? How much does approval of the current system vary by gender, age, field of legal specialization, size of law firm and other factors? How do firms oversee compensation committees? What are the penalties for arrears in collections or tardy submission of time sheets? Just a few of the study s many findings are that: The younger the shareholder, the more likely they were to consider their law firm s partner compensation scheme to be opaque and subjective. Lawyers in real estate law were much more likely than other lawyers to consider their firm s partner compensation scheme to be clear and transparent. For the largest firms, those with more than 200 lawyers, 56.25% of partners fixed their percentage shares at the beginning of the year and only 10.42% determined them at the end of the year, a ratio of more than 5:1. For firms with from 25-49 lawyers this ratio was roughly 1:1."
Book Synopsis The Oxford Handbook of Women and the Economy by : Susan L. Averett
Download or read book The Oxford Handbook of Women and the Economy written by Susan L. Averett and published by Oxford University Press. This book was released on 2018-05-15 with total page 889 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transformation of women's lives over the past century is among the most significant and far-reaching of social and economic phenomena, affecting not only women but also their partners, children, and indeed nearly every person on the planet. In developed and developing countries alike, women are acquiring more education, marrying later, having fewer children, and spending a far greater amount of their adult lives in the labor force. Yet, because women remain the primary caregivers of children, issues such as work-life balance and the glass ceiling have given rise to critical policy discussions in the developed world. In developing countries, many women lack access to reproductive technology and are often relegated to jobs in the informal sector, where pay is variable and job security is weak. Considerable occupational segregation and stubborn gender pay gaps persist around the world. The Oxford Handbook of Women and the Economy is the first comprehensive collection of scholarly essays to address these issues using the powerful framework of economics. Each chapter, written by an acknowledged expert or team of experts, reviews the key trends, surveys the relevant economic theory, and summarizes and critiques the empirical research literature. By providing a clear-eyed view of what we know, what we do not know, and what the critical unanswered questions are, this Handbook provides an invaluable and wide-ranging examination of the many changes that have occurred in women's economic lives.
Book Synopsis Women, Business and the Law 2021 by : World Bank
Download or read book Women, Business and the Law 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-04-05 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Women, Business and the Law 2021 is the seventh in a series of annual studies measuring the laws and regulations that affect women’s economic opportunity in 190 economies. The project presents eight indicators structured around women’s interactions with the law as they move through their lives and careers: Mobility, Workplace, Pay, Marriage, Parenthood, Entrepreneurship, Assets, and Pension. This year’s report updates all indicators as of October 1, 2020 and builds evidence of the links between legal gender equality and women’s economic inclusion. By examining the economic decisions women make throughout their working lives, as well as the pace of reform over the past 50 years, Women, Business and the Law 2021 makes an important contribution to research and policy discussions about the state of women’s economic empowerment. Prepared during a global pandemic that threatens progress toward gender equality, this edition also includes important findings on government responses to COVID-19 and pilot research related to childcare and women’s access to justice.
Author :American Bar Association. House of Delegates Publisher :American Bar Association ISBN 13 :9781590318737 Total Pages :216 pages Book Rating :4.3/5 (187 download)
Book Synopsis Model Rules of Professional Conduct by : American Bar Association. House of Delegates
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Book Synopsis Compensation Plans for Law Firms by : James D. Cotterman
Download or read book Compensation Plans for Law Firms written by James D. Cotterman and published by American Bar Association. This book was released on 2010 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This newly updated fifth edition of Compensation Plans for Law Firms examines the continually evolving compensation landscape and the concepts that will affect your law firm most. You'll take an extensive look at the world of law firm compensation, including: -- Compensation theory --The art and science of compensation -- Partner and shareholder compensation -- Of Counsel compensation -- Associate Compensation -- Paralegal compensation --Staff Compensation -- Bonuses, increases, and incentives -- Debt, taxes, retirement, and withdrawal -- Evaluations, fairness and flexibility --And much more! Learn Where Your Firm Stands The book also features valuable data from the leading legal consulting firm Altman Weil's annual and triennial surveys on law firm performance and compensation, retirement and withdrawal and compensation systems. Charts and graphs help you see where your firm stands on salaries and bonuses, and it gives you detailed analyses of compensation plans for everyone in your firm. Compare your compensation system to law firms across the country. This one volume provides you with your primary research source leading you to auxiliary sources for further information as appropriate. They can support your current compensation system, or help you reevaluate your current methods of compensation. Careful advance consideration is essential to the success of your compensation plan. Using this valuable reference you can develop a compensation plan that conveys fairness, simplicity, and flexibility and strike the perfect balance within your firm.
Book Synopsis Women on Corporate Boards of Directors by : Ronald J. Burke
Download or read book Women on Corporate Boards of Directors written by Ronald J. Burke and published by Springer Science & Business Media. This book was released on 2000-03-31 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, the first to focus exclusively on women serving on corporate boards of directors, provides the latest thinking and research findings on this increasingly important corporate governance issue. It includes censuses of women directors in a number of countries, identifies reasons for their limited numbers, indicates why appointing qualified women to boards offers competitive advantages, and suggests practical ways corporations can attract, recruit and appoint more women board members. Researchers interested in gender and corporate governance issues, companies interested in increasing their numbers of women board members, and women and men serving or hoping to serve on corporate boards will find this book of interest.
Download or read book Lean In written by Sheryl Sandberg and published by Knopf. This book was released on 2013-03-11 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 INTERNATIONAL BESTSELLER • “A landmark manifesto" (The New York Times) that's a revelatory, inspiring call to action and a blueprint for individual growth that will empower women around the world to achieve their full potential. In her famed TED talk, Sheryl Sandberg described how women unintentionally hold themselves back in their careers. Her talk, which has been viewed more than eleven million times, encouraged women to “sit at the table,” seek challenges, take risks, and pursue their goals with gusto. Lean In continues that conversation, combining personal anecdotes, hard data, and compelling research to change the conversation from what women can’t do to what they can. Sandberg, COO of Meta (previously called Facebook) from 2008-2022, provides practical advice on negotiation techniques, mentorship, and building a satisfying career. She describes specific steps women can take to combine professional achievement with personal fulfillment, and demonstrates how men can benefit by supporting women both in the workplace and at home.
Book Synopsis Walking Out the Door by : Roberta D. Liebenberg
Download or read book Walking Out the Door written by Roberta D. Liebenberg and published by . This book was released on 2019 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Authored by Roberta D. Liebenberg and Stephanie A. Scharf, the report includes input from more than 1,200 big firm lawyers who have been in practice for at least 15 years, and shows that women surveyed were far more likely than men to report factors that blocked their "access to success," including lacking access to business development opportunities, being perceived as less committed to career and being denied or overlooked for promotion."--Publisher's website.
Book Synopsis Gender Equality and Inclusive Growth by : Raquel Fernández
Download or read book Gender Equality and Inclusive Growth written by Raquel Fernández and published by International Monetary Fund. This book was released on 2021-03-04 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers various dimensions and sources of gender inequality and presents policies and best practices to address these. With women accounting for fifty percent of the global population, inclusive growth can only be achieved if it promotes gender equality. Despite recent progress, gender gaps remain across all stages of life, including before birth, and negatively impact health, education, and economic outcomes for women. The roadmap to gender equality has to rely on legal framework reforms, policies to promote equal access, and efforts to tackle entrenched social norms. These need to be set in the context of arising new trends such as digitalization, climate change, as well as shocks such as pandemics.
Download or read book Gender in Practice written by John Hagan and published by New York : Oxford University Press. This book was released on 1995 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last thirty years, the number of lawyers in the United States and Canada has more than tripled, and today as many women as men are entering legal practice. The sudden, dramatic increase of women in the profession would seem to signify a new era of equality in the legal profession. However, stereotypes about women's abilities to balance responsibilities at work and home hamper their upward mobility in this male-dominated field. Battling sexual discrimination, women in law grapple with long-held assumptions about parenting, inferring that women eventually abandon their careers in order to take care of home and children. A large percentage of women leave the profession dissatisfied and distressed or seek part-time solutions, and those women who do stay in practice often find there is a ceiling on their status and monetary compensation. Gender in Practice demonstrates and explains how the structure of legal practice has changed in recent decades, often to the disadvantage of women. The issues addressed here, such as conflicts between careers and family, departures from practice, and barriers to women's promotions and earnings are of great importance to members of the profession. Looking at the careers of both men and women and using information culled from two surveys that include nearly two thousand lawyers, this revealing book traces occupational and personal experiences and analyzes these patterns in terms of work and gender. The findings are linked to practical proposals for change, some of which have already found a place in the profession. A major contribution to discussions of sexual equality in the legal workplace, Gender in Practice offers detailed insights into the current and future status of women in the law. Lawyers, law professors, and anyone concerned with gender inequality and equal rights will find this to be an interesting and informative work.
