Page 19 - CCCA Magazine Winter 2014

{ diversity } of GC than before, the percentage is cer- tainly not equal to the overall profession statistics of 50:50. Practicing Bar Federally Appointed Judges What about corporate boards? Accord- ing to the 2013 Catalyst Census: Financial 27% 37% 12% 34% Post 500 Women Board Directors, only 15.9% of board seats in corporate Canada 73% 63% 88% 66% are held by women, an increase of just 1.5% since 2011. There is talk of introduc- ing a quota system to increase gender di- 1993 2014 1993 2014 versity. There is value for the legal profes- sion in participating in such discussions. LEGEND: According to Innes, while the CCCA has Male Female not endorsed a quota system, it has sup- ported a “comply or explain” approach to increasing corporate board diversity. more aggressive measures such as defnitive But it is not all a good news story. Ac- “Measures that seek to increase diver- quotas and penalties for their violation.” cording to the 2012 CCCA Compensation sity on corporate boards should not be too This approach has also been endorsed Survey, there is still a gap in salary in all heavy handed as to obstruct the ability of by the Canadian Board Diversity Council levels of the legal department (see table at boards to function, and should be similar and proposed by the Ontario Securities bottom left). or consistent with existing domestic prac- Commission. The business case for diversity is strong, tices,” she explained. “Increased reporting and there is still work to be done. requirements and targets for board compo- the path forward The CCCA will continue to promote sition can and have been effective measures In-house counsel have seen success at and celebrate gender diversity by in- to encourage corporate boards to diversify increasing gender diversity. According to troducing a series of articles written by their composition. The TD Economic Spe- Breaking Through and the Globe and Mail the authors of Breaking Through: Kirby cial Report notes that ‘comply or explain’ Report on Business magazine, of Canada’s Chown, former Ontario Regional Man- policies have been proving to be most ef- 500 most proftable companies, 27% aging Partner for McCarthy Tétrault; fective in balancing out gender representa- of the companies that have a GC have a and Carrie Mandel, consultant at Spen- tion. Such measures should be favored over woman in that role. cer Stuart, North American Legal & Compliance Practice. These articles will AverAge sAlAry: mAle AverAge sAlAry: femAle appear in upcoming issues of CCCA Magazine to highlight further success Legal counsel $123,000 $110,000 stories of leading Canadian women Gen- Senior counsel $154,000 $135,000 eral Counsel. ❚ Associate GC $178,000 $162,000 Cathy Cummings is Project Manager of the CBA Rethink. GC (executive level) $200,000 $175,000 Canadian Corporate Counsel assoCiation | CCCa-aCCje.org 19