Reaching for Gender Equality in Big Law

On the occasion of International Women’s Day, some firms are looking again at what can be done to address the gender pay gap at major law firms. Of course, the push for racial, cultural, and gender equality and representation has existed for decades. Still, women represent just over 25% of partners at the top ten major law firms. Minorities make up nearly 11% of partners.

Law.com details that despite a rising awareness of the importance for diversity, much more progress is needed. The legal field is known for its adaptability and creative problem-solving. Surely this spirit of innovation can be applied to closing the gender gap in Big Law.

It makes sense to use a familiar legal team to fight a high-stakes legal battle, but doing so is more likely to maintain, or even increase, the gender gap. Tools exist to make choosing a more equitable and diverse legal team. Burford Capital’s Equity Project presents a $100 million fund of capital that can be used to hire racially diverse and female-led legal teams.

Origination credit is another area that can leave minority lawyers running to catch up. Compensation and promotions at big legal firms often come down to billable hours and origination credit. Many GCs maintain the understanding that the partner they work with gets the origination credit. Logical, but not necessarily true. If GCs simply asked about origination credits, that could make a profound difference.

Affinity bias is the term for historically privileged groups and their tendency to gravitate toward up-and-comers with similar backgrounds to themselves. A 2021 McKinsey Women in the Workplace report states that only about 10% of white mentors take on female proteges of color.

Law firms are likely to take client concerns seriously. Taking time to discuss diversity with the legal team of your choosing is an important way to help close the gender gap in the legal field.