Lifestyle perceptions and feelings of well-being vary from person to person according to a person’s background, cultural conditioning, and personal philosophy. Most people have their own individual life philosophies whether they choose to share their personal philosophies or not. How a person interprets a particular environment or situation as either good or bad is influenced by his/her philosophy and overall life experiences. With that said, there are many truths as well as myths about working as an in-house counsel or as an attorney in a private law firm. Here, we will be taking a look at factors that affect attorneys moving in-house.
In past months rumors have spread about major airlines Delta and Northwest merging. And while a decision has yet to be reached, many have expressed a similar concern: more work for the airlines' in-house counsel.
In-house counsel almost always have a cash component in their salaries and another component that includes “stock options exercised and stock value realized” (as put by the 2012 GC Compensation survey by Corporate Counsel). The real rise and fall happens in the second component of in-house salaries, which quite often is greater than the cash component, and also subject to the whims of Wall Street. But the ‘cash component’ itself is divided into two parts – the salary and the bonus component. And the bonus can also be affected by changes in company practice and policy.