best law firms for women 2014 Executive Summary

(1)

2014

for women

Executive Summary

best

law firms

+

(2)

since 2007, the working mother & flex-time lawyers best law

firms for women initiative has recognized U.s. law firms that have

developed the best practices in retaining and promoting women

lawyers.

the winning firms lead the profession in supporting flexible work

arrangements and offering generous paid parental leave. the best

law firms also focus on strengthening women’s representation and

influence in the equity partnership and leadership ranks.

(3)

Congratulations to the

2014 best law firms for women

Baker & McKenzie Chapman and Cutler Cooley Crowell & Moring Davis Wright Tremaine Debevoise & Plimpton DLA Piper Dorsey & Whitney Drinker Biddle & Reath Duane Morris Faegre Baker Daniels Farella Braun + Martel Finnegan, Henderson, Farabow, Garrett & Dunner Foley & Lardner Frankfurt Kurnit Klein & Selz Fredrikson & Byron Gibbons Godfrey & Kahn Goodwin Procter Hanson Bridgett Hogan Lovells US Holland & Hart Hunton & Williams Ice Miller Jenner & Block

Katten Muchin Rosenman Kirkland & Ellis

Latham & Watkins Lindquist & Vennum Littler

Lowenstein Sandler Manatt, Phelps & Phillips McDermott Will & Emery McGuireWoods

Morrison & Foerster Munger, Tolles & Olson Neal, Gerber & Eisenberg Norton Rose Fulbright O’Melveny & Myers

Orrick, Herrington & Sutcliffe Perkins Coie

Pillsbury Winthrop Shaw Pittman Quarles & Brady

Reed Smith Schiff Hardin Seyfarth Shaw

Shook, Hardy & Bacon Sidley Austin

Thompson & Knight WilmerHale

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➤ forty percent of the 2014 best law firms have two or more women among their top

ten rainmakers, up from 32% last year.

➤ at the best law firms, women hold 24% of executive, 25% of Compensation,

and 26% of equity Partner Promotion Committee seats. this marks the highest percentage in the past four years for each committee.

➤ the best law firms employ more female equity Partners (19%) than the national

average (17%).

➤ representation of multicultural women at the 2014 best law firms decreases

considerably as they move up the ladder: they make up 12% of associates, but only 2% of equity Partners.

➤ forty-eight firms (96%) allow reduced Hour lawyers to be eligible for equity

partnership promotion. However, in reality, such promotions are rare: in 2014, an average of zero lawyers were working reduced Hour schedules at the time of their promotion, down from 2013’s average (1 lawyer working a reduced Hour schedule at the time of promotion).

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workingmother.com/wmri 5

Source: National Association of Women Lawyers (NAWL) 2014 Survey Report.

while the representation of women declines at the partner levels, the best law firms employ more female equity Partners (19%) than the national average (17%).

women’s representation

Women Associates Counsel Non-Equity Partners Equity Partners Men

46%

54%

42%

58%

29%

71%

19%

81%

(6)

the representation of women at the Counsel, non-equity Partner and equity Partner levels continue to increase from the start of the best law firms initiative, seven years ago.

women’s representation: 2007 v. 2014

Associates Counsel Non-Equity Partners Equity Partners

46%

47%

2014 2007

42%

37%

2014 2007

29%

22%

2014 2007

19%

16%

2014 2007 0% 50%

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representation of multicultural women at the 2014 best law firms decreases as they move up the ladder from associate to equity Partner.

women of Color representation

Women of Color White Women

Associates Counsel Non-Equity Partners Equity Partners Men

34%

54%

35%

58%

24%

71%

17%

81%

12%

7%

5%

2%

(8)

the rate of female equity Partner promotions is higher at best law firms with one tier partnership structures than at best law firms with two.

at one-tier firms, the rate of female equity Partner promotions has increased to 31%, up from 29% in 2013.

at two-tier firms, the rate of female equity Partner promotions has decreased one percentage point in the past year. the rate of female non-equity Partner promotions has increased five percentage points (38%) from 2013 (33%).

female Promotion rates

Women New Equity Partner Promotions Firms with one tier Firms with two tiers New Non-Equity Partner

Promotions Men

31%

25%

38%

69%

75%

62%

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0% 25%

at the best law firms, women hold 24% of executive, 25% of Compensation, and 26% of equity Partner Promotion Committee seats. this marks the highest percentage in the past four years for each committee.

representation of women on influential Committees

Executive/Management Committee Compensation/Finance Committee Equity Partner Promotion Committee

22%

24%

21%

19%

2013 2014 2012 2011

23%

25%

21%

18%

2013 2014 2012 2011

24%

26%

22%

23%

2013 2014 2012 2011

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Top Ten Rainmakers are the top ten equity partners of the firm who are credited with generating the most gross revenue from clients.

we asked the best law firms how many of their top ten rainmakers are women. at the 45* firms that answered the question, here’s how women fare in rainmaking:

last year, 32% of the best law firms had two or more women in their top ten rainmakers; this year, the number has increased to 40%.

top ten rainmakers

No Women One Woman Two Women Three Women

11%

29%

31%

29%

2014

12%

20%

46%

22%

2013

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Source: National Association of Law Placement (NALP) 2014.

Usage rates for flexible work arrangements

remain low

Flex-Time Reduced Hours Annualized

Hours Job Sharing

0% 100%

10%

0% 0%

54%

100% 100%

60%

9%

100% 100%

20%

15%

all 2014 best law firms offer flex-time and reduced Hours.

twenty percent of lawyers at the 2014 best law firms use flex-time, compared to 15% in 2013.

the percentage of lawyers who work reduced Hours at the best law firms (10%) is higher than the national average (6%), and is one percentage point higher than in 2013. the percentage of best law firms that offer annualized Hours has increased to 60% from 54% in 2013; the rate of usage is now 12% of all lawyers compared to 7% last year.

2013 2014 2013 2014 2013 2014 2013 2014

10%

7%

12%

nn PerceNTage Of BesT LaW firms ThaT Offer fLexiBLe WOrk arraNgemeNT

nn PerceNTage Of LaWyers WhO ParTiciPaTed

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at the 2014 best law firms, female and male equity and non-equity Partners are the most likely to use full-time flex-time and remote work, while Counsel dominate usage of reduced Hour schedules.

Usage rates for flexible work arrangements

Flex-Time

39%

14%

47%

Reduced Hours

33%

40%

27%

Remote Work

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all 50 best law firms (100%) offer reduced Hours, and 48 firms (96%) allow reduced Hour lawyers to be eligible for equity partnership promotion.

However, in reality, such promotions are rare: in 2014, an average of zero lawyers were working reduced Hour schedules at the time of their promotion, compared to 2013’s average (1 lawyer working a reduced Hour schedule at the time of promotion).

Promotion rates for reduced Hour lawyers

Average Number of Lawyers Working Reduced Hour Schedules at Time of Promotion ➤

Average Number of Lawyers Promoted

0

Non-Equity Partners

9

10

1

2013

2014

0

8

Equity Partners

8

1

2013

2014

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Number of weeks offered and taken represents the average across Associates, Counsel, Non-Equity Partners, and Equity Partners. © Copyright 2014, Working Mother Media & Flex-Time Lawyers LLC.® All rights reserved.

all of the 2014 best law firms offer paid maternity, Paternity and adoption leave. at the best law firms, paid maternity leave and Paid adoption leave have increased to 15 weeks and 12 weeks, respectively, from 2013.

Paid Parental leave

Average Number of Paid Weeks Offered Average Number of Paid Weeks Taken

Weeks of Paid Maternity Leave

15

13

Weeks of Paid Paternity Leave

6

3

Weeks of Paid Adoption Leave

12

5

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Compared with last year’s winners, more 2014 best law firms offer backup child care at facilities, sick-child care, subsidized in-home backup child care, and on-site/near site-child care centers.

Child Care offerings

Backup Child Care at Facility

Subsidized In-Home Backup Child Care

Sick-Child Care

On-Site/Near-Site Child Care Center Business Travel Child Care

Reimbursement

0% Percentage of Best Law firms that Offer child care 100%

86% 2014 20% 2014 18% 2014 84% 2014 82% 2014 80% 2013 20% 2013 10% 2013 64% 2013 74% 2013

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on average, non-equity Partners at the best law firms take the most vacation days, up to 18 from 15 in 2013.

though Counsel at the best law firms were offered fewer paid days (down to 18 from 19 in 2013), the number of days taken increased to 16, from 15 last year.

Vacation Day offerings

Average Number of Paid Days Offered Average Number of Paid Days Taken

17

13

19

18

16

18

16

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leadership, networking, sponsorship & mentoring

100%

2013 2014

Firm offers an online women’s

network for lawyers 44% 54%

2013 2014

Firms offers a sponsorship program 54%_56%

2013 2014

Firm offers mentoring targeted for senior women associates or new women partners to

facilitate advancement or help with transition 82%

90% 2013

2014

Firm offers mentoring circles for women to

provide support and guidance 90%94%

2013 2014

Firm offers women-specific

mentoring programs 92%94%

2013 2014

Firm provides or sends female lawyers to women-specific management

or leadership education 92%

98%

2013 2014

Firm provides women-focused business

development education and initiatives 96%

94% 2013

2014

Firm offers management or leadership

training for lawyers 96%98%

2013 2014

Firm holds networking events with the female lawyers of the firm and

the firm’s female clients 100%

98% 2013

2014

Firm offers internal networking groups

for women lawyers 100%100%

all 50 of the 2014 best law firms offer networking groups for women lawyers. more best law firms offered women-specific management/leadership education, mentoring circles and mentoring for senior women associates/new women partners than in 2013.

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more best law firms offer affinity Groups for multicultural women and men and reduced Hour lawyers than a year ago.

affinity Group offerings

’12 ’13 ’14 ’14 ’14 ’14 ’14 ’14 ’07 ’07 ’12 ’13 ’07 ’12 ’13 ’07 ’12 ’13 ’07 ’12 ’13 ’07 ’12 ’13 84% 80% 82% 100% 100% 100% 86% 82% 82% 66% 54% 78% _{76% 78%} 74% 76% 82% 70% 54% 68% 52% 42% 52% 32% Lesbian, Gay, Bisexual, and Transgender (LGBT) Women Multicultural

Women Multicultural Men Work Life/ Parenting Reduced Hour Lawyers

0% 100%

n 2007 BesT LaW firms

n 2012 BesT LaW firms n 2013 BesT LaW firms

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application methodology

➤ each firm completed a detailed application covering the following sections:

n workforce Profile n flexibility

n leadership, Compensation and advancement of women n Development and retention of women

➤ Completed applications were collected online from november 1, 2013,

to february 7, 2014.

➤ all data for the 2014 survey was collected from the full year of 2013. some

comparative data from the 2013, 2012 and 2007 surveys is shown and this data was collected from full year of 2012, 2011 and 2006, respectively.

➤ best law firms were selected from a pool of self-selected applicant firms with

50 lawyers or more in the United states; only U.s. data was collected.

n statistics reported are aggregated from data provided by the 50 best law firms. n not all firms answered all questions.

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Contact information

Learn more at

workingmother.com/wmri

and

www.flextimelawyers.com

Jennifer Owens

Editorial Director

jennifer.owens@workingmother.com

Deborah Epstein Henry, Esq.

Founder & President of Flex-Time Lawyers

dehenry@flextimelawyers.com

Krista Carothers

Senior Research Editor

krista.carothers@workingmother.com

Michele Siegel

Director of Research Initiatives

michele.siegel@bonniercorp.com

Kristen Willoughby

Senior Manager, Editorial & Research Initiatives

kristen.willoughby@workingmother.com

Tierney O’Brien

Custom Insights Analyst