Larger law firms will be compelled to publish bonus details as part of government plans to ‘eradicate’ gender inequality.
Prime minister David Cameron and Nicky Morgan (pictured), women and equalities minister, have pledged to force larger employers to publish information about their bonuses for men and women.
This follows the government’s announcement in July that firms with more than 250 employees will have to publish the difference between the average pay of their male and female employees.
Morgan said the gender pay gap was at its lowest since records began, ‘but it should appal us that, 100 years on from the suffragette movement, we still don’t have gender inequality in every aspect of society’.
The government has also pledged to extend plans for gender pay gap to include the public sector and eliminate all-male boards in FTSE 350 companies.
New regulations ‘which set out how this will work in practice’ will be revealed ‘in due course’, the announcement said.
Law Society chief executive Catherine Dixon said: ‘Forty years after equal pay legislation was introduced, we recognise that the gender pay gap continues to be a problem for law firms just as it does for other businesses.
’We want all solicitors to be confident that the law is a profession where talent, ability and application are rewarded irrespective of gender or background.’
Dixon said the Society ’encourages all firms to regularly review their pay policies to identify reasons for any gender pay gap and to address them’.
In the meantime, firms could come under new pressure to promote women to senior posts once the Davies Review, which was originally set up to increase the number of women on boards, publishes its report.
Lord Davies of Abersoch is ‘preparing to release his final report’, the government said.
Abersoch is expected to recommend women account for at least a quarter of executive posts at FTSE 100 companies.
The Society is holding a webinar about equal pay on 4 November.