Akin Gump Labor and Employment Lawyers Author Equal Pay Article for The Hedge Fund Law Report
“Evaluating Pay Equality: Steps Investment Managers Should Consider to Avoid Running Afoul of Equal Pay Laws,” an article written by Akin Gump labor and employment partners Richard Rabin and Esther Lander and counsel Anastasia Kerdock, has been published by The Hedge Fund Law Report. The article outlines “key federal and state equal pay laws, as well as steps investment managers should take in planning and conducting an internal pay analysis.”
The authors begin with a discussion of Title VII of the Civil Rights Act of 1964 and the Equal Pay Act, both of which, they note, cover most claims alleging unlawful pay disparity under federal law. They also write about some individual state laws in effect that prohibit discrimination in compensation, some of which—“including New York, Connecticut, California, Maryland and (as of July 1, 2018) Massachusetts—provide greater protections than their federal counterpart.”
Rabin, Lander and Kerdock next offer some steps that investment managers can take in advance of “increased focus on pay equity issues from employees, governmental agencies and the plaintiffs’ bar.” They then suggest that firms take proactive steps to minimize risk, “including utilizing the year-end compensation cycle to conduct an internal pay analysis to identify and address any latent inequalities,” though they warn that “extreme care” should be used in planning and conducting these reviews.
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