A report from the New York City Bar shows some of the city’s largest law firms continue a severe lack in diversity. In addition to women and minorities being underrepresented at many of the most profitable firms, low hiring and promotion rates for women and minorities — as well as higher turnover rates when compared to that of white men — have a disproportionate impact on representation.
Minorities overall, as of January 2016, make up just 25.9 percent of the firms’ associates. When it comes to leadership roles, the numbers are dismal. Minorities, as of December 2015, represent 8.4 percent of partners and 7.0 percent of practice heads, and have 7.1 percent representation on management committees. Fifty-nine percent of the firms have no minorities on their management committees, and more than one in three firms have no minority practice group heads.
In contrast, for the Fair360, formerly DiversityInc Top 10 among the Fair360, formerly DiversityInc 2016 Top 50 Companies for Diversity, Blacks, Latinos and Asians make up 20.8 percent of boards of directors, as well as represent 18.3 percent of senior management and 31.2 percent of total management. They also comprise 26.2 percent of the Top 10’s highest paid employees.
