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Author: Marina Angel Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
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.
Author: Marina Angel Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
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.
Author: Marina Angel Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
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.
Author: Deborah L. Rhode Publisher: Oxford University Press, USA ISBN: 0190217227 Category : Law Languages : en Pages : 245
Book Description
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.
Author: Deborah L. Rhode Publisher: Oxford University Press ISBN: 0190614714 Category : Business & Economics Languages : en Pages : 257
Book Description
"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"--
Author: Clifford Winston Publisher: Rowman & Littlefield ISBN: 0815721919 Category : Business & Economics Languages : en Pages : 121
Book Description
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.
Author: Stephanie Hawthorne Publisher: ISBN: 9781787422124 Category : Law Languages : en Pages : 0
Book Description
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.
Author: Ronit Dinovitzer Publisher: ISBN: Category : Lawyers Languages : en Pages : 100
Book Description
"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
Author: Publisher: ISBN: 9781574403305 Category : Corporations Languages : en Pages : 0
Book Description
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."
Author: James D. Cotterman Publisher: American Bar Association ISBN: 9781604428193 Category : Compensation management Languages : en Pages : 196
Book Description
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.
Author: Susan L. Averett Publisher: Oxford University Press ISBN: 0190878266 Category : Business & Economics Languages : en Pages : 889
Book Description
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.
Author: Marina Angel
Author: Marina Angel
Author: Marina Angel
Author: Deborah L. Rhode
Author: Deborah L. Rhode
Author: Clifford Winston
Author: Stephanie Hawthorne
Author: Ronit Dinovitzer
Author: 
Author: James D. Cotterman
Author: Susan L. Averett