Reducing our Gender Pay Gap
We are pleased to report that our median pay gap has reduced by 26.2% from 43% to 16.8% and the mean gender pay gap at the Firm has reduced by 6.9% from 27.6% (2023 report) to 20.7%.
Our median bonus pay gap has gone from 2.4% to 0% and our mean bonus pay gap decreased from 21.4% to 15.1% (2023 report). The majority of our bonus pay consists of our annual profit share, where all our employees receive an equal profit share. However, our figures are also influenced by other bonus pay, such as participation in our recruitment and client referral scheme and our long-service awards.
The number of women on our Board remains high at 40% – which is close to the female representation on the Boards of FTSE 350 companies which is at an average of 43.4% according to data published in the latest report by the government-backed FTSE Women Leaders Review.
Our lawyers are just as likely to be women as men, but the people in our administrative roles are among our lower paid roles, and are mostly women. While we are pleased that our gender pay gap is falling, this is the factor that continues to have the biggest impact on our overall pay gap figures.
Our mean and median pay gap has further reduced this year.
We have slightly more women than men in our most senior – and highest paid – roles. However, in our other three pay quartiles we have many more women. We have many more junior lawyers who are women than men entering the legal profession through our trainee and apprenticeship programmes.
