In-House Women Attorneys Make 40% Less In Bonus Pay | What To Do About It
What can I say that I haven't said before?
Negotiate your bonuses!
The women in the ALM/Corporate Counsel survey who held the top positions in their law departments—chief legal officers and general counsel—reported an average total cash compensation of $575,200, while their male counterparts pocketed an average of $723,700. Female deputy chief legal officers surveyed brought home an average of $316,400 in total cash compensation, while men in the same positions made an average $386,700. Total cash compensation was calculated in the survey as a combination of salary reported as of March 1, 2013, and annual cash bonus for 2012.
Smaller bonuses for women accounted for a large part of the disparity between the numbers for top-level men and women corporate counsel. The survey indicated that GC and CLO women and their deputies made around 40 percent less in bonus payouts than men in the same roles.
How Do You Close the 40% Bonus Gap? Here's How
First and foremost, understand that bonuses are negotiated. The Grindstone gave eight tips to help you negotiate your bonus some time ago and the advice is all the more important today. Career coach Rebecca Rapple advised women to remember that they are tough negotiators. "Realize," she said,
that it is a negotiation! Many people (but especially women) accept their year end bonus, or lack thereof, as a fact, rather than a negotiation. Far too often we hear people saying “You should feel lucky to have a job” and other self-defeating phrases. While, in reality, companies are lucky to have you! And its important to ask – and negotiate – for the compensation you deserve.”
Read the entire Grindstone article and then start planning your "ask" for your year-end bonus. Use our free resources here.