In-house counsel compensation – does your salary/bonus package measure up? Read on for a recent report that can shed some light on where in-house counsel compensation numbers are going:
Are the pay packages in your legal department keeping up with the Joneses? The new “In-House Counsel Compensation Report” from General Counsel Metrics LLC and Major, Lindsey & Africa, a legal search firm, deciphers the trends in compensation by compiling data from over 1,700 in-house lawyers at approximately 480 U.S. and Canadian companies. The information used for the report includes: base salaries, cash bonuses, law school graduation years, primary practice areas, company revenues, and company industries.
“It’s data that we all deal with a lot, but we never collected it all at once and analyzed it,” Rees Morrison, president of GC Metrics told CorpCounsel.com. He says the report provides a “roadmap for roughly figuring out where [counsel] sit on [the compensation] spectrum.”