March is National Women’s Historic Month and April 8, 2014 is Equal Pay Day. So just how equal is the legal profession?
The ABA’s annual survey from the Commission on Women found that women equity partners in AmLaw 200 firms earn 89% of the compensation earned by their male peers. Women partners are credited with a smaller median book of business than men, even though their business development efforts may be substantial. The ABA draws the conclusion that “The gap between the median compensation of male and female equity partners cannot be explained by differences in billable hours, total hours, or books of business.”
So how can it be explained then? Do male and female lawyers have different billing approaches and modes of operation? Is the pay gap based on objective differences in how and how much women work? Is it more or less efficient for clients to work with women? Are female lawyers billed out at the same rates as their male colleagues?
What are your thoughts?
Andover, MA – February 20, 2014 — Sky Analytics, a leading provider of legal spend management software for corporate law departments, announced today the appointment of Dr. Silvia Hodges Silverstein as Vice President of Strategic Market Development. Dr. Hodges Silverstein lends her deep background legal procurement and research to the fast growing Sky Analytics team.
Dr. Hodges Silverstein will lead Sky Analytics’ expanded effort to educate corporate law departments on the importance and usage of legal analytics in today’s legal environment. As an established researcher she will also mine the Sky Analytics database to gather findings and insights to help better understand the rapidly changing legal services market through an upcoming thought leadership series.
“I am very excited to join a company that is revolutionizing the field of legal analytics, helping legal departments to better manage their spend,” said Dr. Silvia Hodges Silverstein. “Since Sky Analytics launched only a few short years ago, the company has already established itself as a leading provider legal spend management software. I am looking forward to working with their clients to help them leverage their data and help development this emerging market.”
“As corporate legal departments look to better analyze their legal spend in search of potential cost savings opportunities, we were looking for an industry expert that can help educate the market on how to unlock the power hidden in law firm invoice data. Dr. Silvia Hodges Silverstein corporate legal background in addition to her role as an educator made her a natural fit for this effort,” said Doug Ventola, President of Sky Analytics. “We are confident that our clients and, in fact, the market as a whole will benefit from Dr. Hodges Silverstein’s new role at Sky Analytics.”
Sky Analytics provides corporate legal departments with web-based tools and analytics to better manage outside legal spend. Sky Analytics’ legal spend management solution is quick to implement and works with paper or PDF invoices or existing e-billing programs. https://twitter.com/LawSpendClarity.
Calling all legal procurement professionals: Back in the spring of 2012 we conducted a study on the influence of procurement departments on the purchasing of corporate legal services. More than half of the respondents in our research were from Fortune 1000 companies and about a third from Fortune 100 firms.
We found a lot of interesting things — see the info graphics:
If you procure legal services, we now need your help again. Please participate in the 2014 BUYING LEGAL survey. Your opinion counts. Click here to start the survey.