1. Women’s Initiatives in Law Firms: What Do We Know ? What Do We Need to Change ? Stephanie A. Scharf Founder, NAWL Annual Survey of Law Firms and and NAWL Foundation Survey of Women’s Initiatives May 1, 2015. Copyright Stephanie Scharf. All rights reserved.

2. The Big Picture: where women lawyers stand today on four key indicators  Advancement to senior positions  Compensation  Rainmaking credit  Leadership roles Key markers of success

3. It’s substantially less likely for women to move into senior positions 5% MPs 17% Equity 28% Stipend 38% Counsel 44% Associates 68% Staff Attorneys 3

4. There is a compensation gap  Men out earn women at every level.  98% of firms report that the highest paid partner in the firm is male. Even as equity partners, women earn between 85% and 91% of male compensation – as equity partners. The biggest difference occurs at the equity partner level. ◦ Imagine: women at the same level donate one month’s work to their firm. One solution: have gender diverse compensation committee. When the compensation committee has two or more women members, the typical compensation for female equity partners is on par with (100% of) the typical compensation for male equity partners. When highest committee has two or more women, women earn 95% of men In firms without that level of gender representation on these key committees, the compensation gap is much wider: women earn somewhere between 85% and 89% of male equity partners. Recent heightened focus on gender pay equity – based on National Association of Women Lawyers annual survey of equity partnership and compensation added to by NALP research Catalyst ABA Gender Equity Task Force

5. Even at the highest level of firms... 5 Another day, another 85 cents Modified text

6. Rainmaking credit?  In most firms, the top 10 lawyers given credit for large billings are men.  In 98% of firms, the highest paid partner is a man.  Traditional paradigms for allocating revenue credit impede progress.

7. Women are beginning to advance into firm-wide leadership roles  On governing committees  As firm-wide managing partner  On compensation committees

8. What do law firms say? What do others also say?

9. What do the findings mean?  We need to move the needle on: Equity partnership Compensation Rainmaking Leadership roles

11. What can women’s initiatives realistically do to effect change?  What are WIs doing?  What can WIs do better?  How can WIs be agents for change?

12.  Goal: to obtain objective data as benchmarking and as context for firm programs  Hard data about mission, programs, funding, management, effectiveness, what works, what needs improvement NAWL Foundation first-ever national Survey of Women’s Initiatives

13.  Initiatives exist in virtually all large firms (AmLaw 100/200)  Missions vary from concrete to abstract  Funding levels (2011):  AmLaw 100 $119,000  AmLaw 200 $ 48,000 What are women’s initiatives doing?

14.  Open to all women lawyers in the firm (93%)  Partners, associates, staff attorneys, part-timers  Most women attend (at least sometimes) Who is participating?

15. Who lead initiatives?  One firm-wide leader (56%) or several co- chairs (38%)  Firm-wide planning committee is typical (75%)  But no additional compensation or hours credit QUESTION TO CONSIDER: Are Women’s Initiatives placed at the right level of power?

16.  Networking event within firm 96%  Business development activities 92% (unspecified)  Networking event with clients 87%  Highlighting achievements 81%  Soft skills 76% (e.g., navigating in firm)  Mentoring 67%  Leadership training 61%  Legal skills 50% Common activities

17.  Part-time work 97%  Flexible work schedules 94%  Monitoring promotion rates 79%  Anti-bias training 76%  Monitoring work assign’nts 39%  Succession planning 33% Common activities

18. What can WIs do better?  Mission/goals  Strategy  Activities with direct impact on goals  Funding

19.  What are the strategic goals of the women’s initiative in your firm?  Is there a programmatic strategy for achieving those goals?  Are programs having a direct impact? How can WIs be agents for change? FOCUS AND MEASURE

20.  Is your women’s initiative at the right place in the power structure? Is there a direct commitment to change from the very top of the Firm?  Does your women’s initiative have the proper level of funding (or is it still in a recession mentality)? Is it worth one associate? Two?  What one change would you make to improve the impact of your women’s imitative? How can WIs be agents for change? POWER AND FUNDING