Through previous recessions, general counsel stayed largely untouched. Indeed, the past decade shows a nearly unbroken string of pay raises. No more. While some indexes of GC pay rose, the basic trend was nearly flat. Why? Because executive pay has become inextricably bound with corporate performance. And if the company doesn’t do well, the GC might find a thinner pay packet. How thin? It’s all relative. But it seems that top corporate counsel aren’t immune to market forces anymore.Through previous recessions, general counsel stayed largely untouched. Indeed, the past decade shows a nearly unbroken string of pay raises. No more. While some indexes of GC pay rose, the basic trend was nearly flat. Why? Because executive pay has become inextricably bound with corporate performance. And if the company doesn’t do well, the GC might find a thinner pay packet. How thin? It’s all relative. But it seems that top corporate counsel aren’t immune to market forces anymore.
[via 2009 GC Compensation Survey: Immune No More]
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