At current rates, Laurence Simon predict that women will achieve pay parity with men in six years time, in 2021. Women have seen their average salary grow five per cent in the last year and three per cent in the year before.
Bonuses favour men
The basic salary for women was £96,400 in 2014/15 - while it was £118,600 for men. Bonuses are far higher and more widespread for men. Bonuses are 66 per cent higher for men than for women. And 75 per cent of men receive them, comparied to 58 per cent of women. The average bonus for a man was £38,400 - and that for a woman was £23,200.
Up the ladder
Chris Cayley, EMEA managing partner of Laurence Simon, said: 'Earning equality between the genders in junior legal positions is widely accepted, with firms across the board having set rates for trainees and newly-qualified associates. However, it is no secret that pay further up the ladder has been subject to a significant gender imbalance over the years, and the news that this is closing is only to be welcomed.' Source: Laurence Simons
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