Slaughters and Freshfields reveal partner gender pay gap after request by MPs
Magic circle firms include partners in pay gap figures following pressure from MPs
June 20, 2018 at 09:22 AM
3 minute read
Slaughter and May and Freshfields Bruckhaus Deringer have revealed their gender pay gap data, including partners, in response to a request from the parliamentary committee investigating gender pay gap reporting.
The magic circle firms have handed over their figures in letters published online today by the Business, Energy and Industrial Strategy select committee, which recently wrote to all five firms to request that they restate their data, including partners.
Slaughters, which this March reported a mean gender pay gap of 14.3% and a 38.5% median gap, has released revised figures that show that when all UK partners are included, the mean gender pay gap is 61.8% and the median gap is 41.6%.
The firm's letter also states that, when including UK partners, it has a mean gender bonus gap of 33.3% and a median gap of 54.8% – the same figures as reported in March.
With partners included, the proportion of men receiving a bonus is 78.5%, lower than the figure of 88.6% for women.
- For more, see Allen & Overy accused by MP of 'dragging its feet' over partner gender pay gap reporting
Meanwhile, Freshfields' letter to the committee reveals that the firm has a mean gender pay gap of 60.4% when partners are included, with a median gap of 34.1%, compared to equivalent figures of 13.9% and 13.3% without partners.
In its letter, Freshfields said it had already decided to include partners in its 2018 reporting next year, with 2017 figures included for transparency.
Including partners, the firm has a 42.2% mean gender bonus gap, a similar proportion to the 41% figure for employees. Taking partners into account, a higher proportion of women receive bonuses than men, at 62.7% and 51.4% respectively.
According to the firm, 22.8% of its partnership identifies as female, while 77.2% indentify as male.
Linklaters and Clifford Chance (CC), both of which included partners in their gender pay reporting in March, also provided figures to the committee, although Allen & Overy was today strongly criticised by committee chair Rachel Reeves MP for failing to do so.
CC said in its reply that in May, London managing partner Michael Bates met with Pinsent Masons senior partner Richard Foley and Law Society vice-president Christina Blacklaws to discuss a more transparent and standardised approach to including partner pay in gender pay reporting.
The current method has faced criticism for failing to provide guidelines for partnerships on how to take account of the pay of members of a firm who are not employees.
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