Linklaters today became the first magic circle firm to report its gender pay gap, publishing figures showing that women employees are paid nearly 40% less than men - with an even starker disparity in bonus payments.
Figures published on the government’s gender pay disparity website show women at One Silk Street are paid 39.1% less than for males per hour (median). In terms of bonuses, women receive 57.9% less than males.
Organisations with 250 or more workers must publish four sets of figures on pay differentials by April.
As well as information on the hourly and bonus pay gap, organisations must also publish data on the disparity within four quartiles of the payroll, ranging from the lowest to highest.
Linklaters’ figures show that men consist of 55% of the firm’s highest quartile and women 79% of the lowest. However, the upper middle quartile is 53.9% women.
In a report published on the firm’s website, Linklaters says it is ’confident’ men and women are paid fairly for equivalent roles, and is ’pleased that the gender pay gap for each our four pay quartiles is so small’. The biggest gender imbalance, in the lower quartile, comprises mainly secretarial and junior positions, it adds, 80% of which are held by women. That feeds into the bonus figures accordingly, says Linklaters. More women also work part-time.
A handful of firms have reported data so far, including Shoosmiths and CMS Cameron McKenna Nabarro Olswang.
Women at CMS are paid 32.8% less than men per hour. Their bonus pay was 30.4% lower than their male colleagues. At Shoosmiths, women are paid 13% less an hour (median) than men.