While harassment allegations against an ever-growing number of male power figures dominate the news, another equal employment opportunity issue simmers steadily below the surface: the pursuit of pay equity for women and minorities. In the past few years, several states have passed pay equity laws affording employees greater protections than those historically provided by federal law, and equal pay has become a focal point in politics and board rooms. Investment managers can expect increasing scrutiny of these issues in the months and years ahead. As firms turn their attention toward the year-end compensation cycle, they should consider taking the initiative to identify and correct any unwarranted pay disparities. In a guest article, Akin Gump partners Richard J. Rabin and Esther G. Lander, along with counsel Anastasia M. Kerdock, outline key federal and state equal pay laws, as well as steps investment managers should take in planning and conducting an internal pay analysis. For additional insight from Rabin, see “Best Practices for Fund Managers to Mitigate Litigation and Regulatory Risk Before Terminating Employees” (Feb. 9, 2017); “Steps Hedge Fund Managers Can Take in Light of NY Attorney General’s View That Certain Non-Compete Clauses Are Unconscionable” (Sep. 22, 2016); and “What the NLRB Complaint Against Bridgewater Means for Hedge Fund Manager Employment Agreements” (Sep. 8, 2016).