How’s Your Bonus Looking?

• Posted by Geoffrey G. Gussis on July 19th, 2005


• Filed in Careers (In-house Jobs)

Eriq Gardner reports on bonus compensation at Corporate Counsel magazine - and it looks like the numbers are up:

"Want to know the secret of becoming a general counsel who’s able to afford the best in life? Hint: Good lawyering is only part of it.

A quick look at the nation’s 100 top- paid general counsel in 2004, as measured by Corporate Counsel’s annual survey of GC compensation, shows that top legal officers are raking it in. Most surprising, the cash bonus staged a major comeback; the average bonus payout to GCs last year was $784,539-up a phenomenal 31 percent from 2003. Overall, these 100 GCs walked away with nearly $257 million in total salary, bonuses, and stock option cash-outs. The average raise in salary wasn’t too shabby, either, climbing 9 percent to $561,738. And of the 49 GCs who exercised their stock options, the average cash-out was $2,493,098, a modest but welcome 3 percent gain."

Things appear to be moving in the right direction as the economy continues to gain steam.