COMP NEWS – In a recorded first, some groups of women are making more than their male counterparts in general counsel positions at law firms.

For the first time, certain groups of women in general counsel positions are being compensated more than their male counterparts.

That’s according to a survey released by the Association of Corporate Counsel, which found that racial and ethnic minority women reported higher median total cash compensation than their peers for the first time, and that nonminority women in multilawyer departments reported the highest median compensation of any group.

“ACC’s compensation survey represents a large cross-section of companies in the U.S. and for the first-time shows that non-minority women who achieve the coveted GC spot in multi-lawyer departments are among the highest paid and compensation levels for women of color general counsel exceeded their peers for the first time in the history of ACC’s compensation surveys,” Veta T. Richardson, president and CEO at the Association of Corporate Counsel, said in a statement announcing the survey.

According to the ACC’s 2023 Law Department Compensation Survey, minority women reported a median total cash compensation of $325,000 — 8% higher than their peers.

Women in multilawyer departments reported earning 19.5% more than men and only 3% less than men in single lawyer departments. Also, nonminority women in multilawyer departments reported earning about 36% more than both men and minority women, and more than 50% higher than minority men.

Minority women reported earning 19% more than nonminority men in single-lawyer departments.

Though the data provides a snapshot of women’s salaries, the surveyor (ACC) recognizes that the data is just that: a snapshot. Further research and data will showcase trends in the coming years.

Despite the shifting compensation dynamics shown in the report, the ACC recognized that its survey is based on responses from 445 general counsel throughout the United States, and that it’s a one-year snapshot of the state of pay.

“These survey results suggest that progress is being made to address the long-time gender pay gap,” Richardson, ACC president and CEO, said in a statement. “I celebrate these women whose ability, leadership, and awareness have enabled them to achieve the role of general counsel and negotiate higher compensation. I am pleased to see that their compensation levels are rising to reflect the value they bring.

“But the devil is always in the details and one year’s data cannot be interpreted to mean the gender pay gap has been completely eliminated, especially for positions below the GC level and when compensation for minority male GCs so significantly falls below all others,” Richardson continued. “However, it is good news that we’re seeing some progress and I look forward to the day when discussions about pay disparity are no longer necessary.”

To read more about women’s salaries in general counsel positions, click here.

For more Comp News, see our recent posts.