Clifford Chance reports ‘class pay gap’

Magic circle agency discloses common distinction in pay for workers from working, intermediate {and professional} backgrounds for first time

Clifford Chance has reported its ‘social mobility pay gap’ knowledge for the primary time, revealing a 44.1% distinction in common pay between employees from a ‘working class’ and people from a ‘professional’ background.

The agency requested staff and companions for the occupation of the primary earner of their family when aged 14. The responses had been then grouped into three broad classes, working class, intermediate class {and professional}, consistent with the Workplace for Nationwide Statistics classifications.

Clifford Chance mentioned the responses confirmed a 26% pay hole between these from a working class background and people from an intermediate background. The hole between the intermediate {and professional} lessons was 24.4%.

The outcomes had been primarily based on a 49% disclosure fee, which means just below half of all UK employees responded to the query.

UK managing associate, Michael Bates, mentioned:

“We believe that understanding more about our socio-economic diversity is crucial if we are to become the truly inclusive firm we wish to be.”

Clifford Chance additionally reported its gender and ethnicity pay gaps for 2021.

The agency’s gender pay hole narrowed for workers from 19.1% to 16.6%, however widened by 1.4% to 64.9% when its high-earning companions are included.

Its ethnicity hole for companions and staff went up by 6.1% to 53.6%, however taking companions out of the equation, the agency reported a unfavorable ethnicity hole, which means the common pay of these from a minority ethnic background is larger than those that are white.

Bates added: “We are pleased to see the numbers shift in the right direction, but the gaps remain unsatisfactory. There is work still to do and it will take time to see more substantial changes in our data. But we believe nurturing our unique culture, and ensuring it is truly diverse and inclusive, will have the greatest impact on our ability to close our pay gaps over the coming years.”

Fellow magic circle corporations Freshfields and Linklaters have disclosed their 2021 pay hole knowledge, with each corporations reporting decreases of their general gender pay hole stats.



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