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.
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