A couple weeks ago, the Association of Corporate Counsel published the results (paywall) of their annual survey of approximately 10,000 Chief Legal Officers around the world on business trends, budgets and compensation. The findings include some disappointing facts for diversity. Male general counsels who responded reported higher pay than women, and minority general counsels reported lower pay than their Caucasian counterparts. Specifically, 21% of men reported making more than $600,000 a year whereas only 14% of women did. And at the bottom of the payscale, women were about 7% more likely to make less under $200,000 compared to men.
Of course, these numbers aren’t an apples-to-apples comparison so its impossible to know what accounts for them. We’re talking about the same job title, but it could be that the male CLOs tend to have greater tenure or experience. It could also be that the male CLOs work at larger companies where compensation is generally higher. There are other potential explanations for the pay disparity but at any rate, the numbers are worth keeping in the back of your mind for any female GC.