Stephensons, has reported a 23.71% mean gender pay gap for fixed hourly pay as at 5th April 2022.
The firm has reported its gender pay gap in line with the government’s gender pay gap reporting regulations.
The gender pay gap reporting regulations require organisations with 250 or more employees to publish the difference between both the mean and median hourly rate of pay for male and female full-time employees; the difference between both the mean bonus pay and median bonus pay for male and female employees; the proportions of male and female employees who were awarded bonus pay; and the proportions of male and female full-time employees in the lower, lower middle, upper middle and upper quartile pay bands.
Stephensons median pay gap for fixed hourly pay as at 5th April 2022 was 36.69%.
Just below half, or 49%, of employees in the highest pay quartile at Stephensons are female, compared to 73% in the second quartile, 95% in the third quartile and 74% in the lowest pay quartile.
Of its partner population, 52% are women, 40% in senior management roles are women and in total 70% of the firm’s solicitors are female.
Notably, when analysing the gender pay gap by pay quartiles, Stephensons reported a lower-than-average pay difference between employees of a similar level. In fact, for those in the upper two quartiles we see a pay gap of 1% or less and in the lower two pay quartiles the mean average pay for females is slightly higher than that of males.
In addressing its gender pay gap, Stephensons is committed to engaging and developing its employees and encouraging greater diversity and inclusion through a range of initiatives. This has already included the roll out of agile working across the firm and the promotion of flexible working opportunities for all employees. The firm also consistently reviews its recruitment policies and practices to ensure that it can source talented team members from a wider background. The firm’s approach to flexible, agile and remote working has also significantly benefited its ability to attract and retain female members of staff.
Andrew Welch, Managing Partner at Stephensons, said: “At a senior level our firm is well represented by both male and female team members and I am encouraged to see that close to three quarters of the firm’s solicitor cohort is now female.
As a firm we are confident that women are represented at all levels and have the opportunity to develop, and that people are paid fairly regardless of gender. It is clear that as almost 90% of our lower/lower middle paid employees are female, more diversity at this level is an area we need to focus on.”
We confirm that Stephensons’ gender pay gap calculations are accurate and have been calculated in line with the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017