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General Counsel Having Better Pay in 2012: Equilar Survey

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published November 12, 2012

By CEO and Founder - BCG Attorney Search left

The 2012 In-Depth Top General Counsel Compensation Report published by Equilar, a well-recognized executive compensation research firm, shows the median compensation for General Counsels at Fortune 1000 companies to be $1.4M, and outpacing the growth of compensation for CEOs. Now that's something to think about, and something quite far from the doom and gloom preached about the legal industry of late.
 
2012 In-Depth Top General Counsel Compensation Report published by Equilar

Equilar's findings show that in 2011, general counsel pay of S&P 1500 increased by 12.8 percent, while the median pay of CEOs increased by 6.2 percent and that of CFOs by 8.9 percent. The survey also found that the number of general counsel working as executive officers among the S&P 1500 has grown by a staggering 20.9 percent over the recession.

While the S&P 1500 companies employed 494 general counsels in 2007, in 2011 the number stood at 591. Equilar created its report based on surveys of the compensation of about 400 general counsels from Fortune 1000 companies and S&P 1500 companies.

The growth in the numbers and salaries of general counsel confirms the trend that big businesses are shifting their business in-house from the hands of private practice law firms. It means the business is out there, and the demand for legal services is there, and rising, but what analysts project as a drop in legal services is actually a drop for the demand for services of private law firms, while businesses keep seeking ways to have the same services provided in-house. And the task seems to be a very high priority for Fortune 1000 businesses, because otherwise, nothing can explain general counsel experiencing a higher salary growth than that of CEOs and CFOs.

According to Equilar, while the median compensation for general counsels was $1.41M, the median pay in technology, media, and telecom industries was $1.68M. On the other hand, though general counsels in the retail and consumer industries received a median pay of $1.15M, they had the third-highest level of perquisite eligibility, at 76.5 percent.
United States

Another interesting find of the Equilar survey was of men outnumbering women as general counsel, but women did better than men did when it came to paychecks. Out of 175 general counsels included in the survey from Fortune 500 companies, a staggering 148 were men, but on an average, a female general counsel earned close to $1.3 million, while mean earned about $1.1 million. Equilar found the differences in pay between male and female general counsel by examining the public filings of Fortune 500 companies.

As far as law schools are concerned, Harvard seems to be placing the highest number of general counsel at the top slots in Fortune 500 companies with 16 out of 175 being from Harvard Law School, and Georgetown University placed the second-highest number of general counsels at 12 out of 175 in the Fortune 1000. The University of Virginia stands at the third spot with 9 alumni working as general counsels among 176 in Fortune 500 companies.

The survey report by Equilar can be downloaded here http://www.equilar.com/knowledge-network/research-reports/2012-research-reports/2012-in-depth-top-general-counsel-compensation-report.php

About Harrison Barnes

No legal recruiter in the United States has placed more attorneys at top law firms across every practice area than Harrison Barnes. His unmatched expertise, industry connections, and proven placement strategies have made him the most influential legal career advisor for attorneys seeking success in Big Law, elite boutiques, mid-sized firms, small firms, firms in the largest and smallest markets, and in over 350 separate practice areas.

A Reach Unlike Any Other Legal Recruiter

Most legal recruiters focus only on placing attorneys in large markets or specific practice areas, but Harrison places attorneys at all levels, in all practice areas, and in all locations—from the most prestigious firms in New York, Los Angeles, and Washington, D.C., to small and mid-sized firms in rural markets. Every week, he successfully places attorneys not only in high-demand practice areas like corporate and litigation but also in niche and less commonly recruited areas such as:

  • Immigration law
  • Workers’ compensation
  • Insurance defense
  • Family law
  • Trusts & estates
  • Municipal law
  • And many more...

This breadth of placements is unheard of in the legal recruiting industry and is a testament to his extraordinary ability to connect attorneys with the right firms, regardless of market size or practice area.

Proven Success at All Levels

With over 25 years of experience, Harrison has successfully placed attorneys at over 1,000 law firms, including:

  • Top Am Law 100 firms such including Sullivan and Cromwell, and almost every AmLaw 100 and AmLaw 200 law firm.
  • Elite boutique firms with specialized practices
  • Mid-sized firms looking to expand their practice areas
  • Growing firms in small and rural markets

He has also placed hundreds of law firm partners and has worked on firm and practice area mergers, helping law firms strategically grow their teams.

Unmatched Commitment to Attorney Success – The Story of BCG Attorney Search

Harrison Barnes is not just the most effective legal recruiter in the country, he is also the founder of BCG Attorney Search, a recruiting powerhouse that has helped thousands of attorneys transform their careers. His vision for BCG goes beyond just job placement; it is built on a mission to provide attorneys with opportunities they would never have access to otherwise. Unlike traditional recruiting firms, BCG Attorney Search operates as a career partner, not just a placement service. The firm’s unparalleled resources, including a team of over 150 employees, enable it to offer customized job searches, direct outreach to firms, and market intelligence that no other legal recruiting service provides. Attorneys working with Harrison and BCG gain access to hidden opportunities, real-time insights on firm hiring trends, and guidance from a team that truly understands the legal market. You can read more about how BCG Attorney Search revolutionizes legal recruiting here: The Story of BCG Attorney Search and What We Do for You.

The Most Trusted Career Advisor for Attorneys

Harrison’s legal career insights are the most widely followed in the profession.

Submit Your Resume to Work with Harrison Barnes

If you are serious about advancing your legal career and want access to the most sought-after law firm opportunities, Harrison Barnes is the most powerful recruiter to have on your side.

Submit your resume today to start working with him: Submit Resume Here.

With an unmatched track record of success, a vast team of over 150 dedicated employees, and a reach into every market and practice area, Harrison Barnes is the recruiter who makes career transformations happen and has the talent and resources behind him to make this happen.

A Relentless Commitment to Attorney Success

Unlike most recruiters who work with only a narrow subset of attorneys, Harrison Barnes works with lawyers at all stages of their careers, from junior associates to senior partners, in every practice area imaginable. His placements are not limited to only those with "elite" credentials—he has helped thousands of attorneys, including those who thought it was impossible to move firms, find their next great opportunity.

Harrison’s work is backed by a team of over 150 professionals who work around the clock to uncover hidden job opportunities at law firms across the country. His team:

  • Finds and creates job openings that aren’t publicly listed, giving attorneys access to exclusive opportunities.
  • Works closely with candidates to ensure their resumes and applications stand out.
  • Provides ongoing guidance and career coaching to help attorneys navigate interviews, negotiations, and transitions successfully.

This level of dedicated support is unmatched in the legal recruiting industry.

A Legal Recruiter Who Changes Lives

Harrison believes that every attorney—no matter their background, law school, or previous experience—has the potential to find success in the right law firm environment. Many attorneys come to him feeling stuck in their careers, underpaid, or unsure of their next steps. Through his unique ability to identify the right opportunities, he helps attorneys transform their careers in ways they never thought possible.

He has worked with:

  • Attorneys making below-market salaries who went on to double or triple their earnings at new firms.
  • Senior attorneys who believed they were “too experienced” to make a move and found better roles with firms eager for their expertise.
  • Attorneys in small or remote markets who assumed they had no options—only to be placed at strong firms they never knew existed.
  • Partners looking for a better platform or more autonomy who successfully transitioned to firms where they could grow their practice.

For attorneys who think their options are limited, Harrison Barnes has proven time and time again that opportunities exist—often in places they never expected.

Submit Your Resume Today – Start Your Career Transformation

If you want to explore new career opportunities, Harrison Barnes and BCG Attorney Search are your best resources. Whether you are looking for a BigLaw position, a boutique firm, or a move to a better work environment, Harrison’s expertise will help you take control of your future.

? Submit Your Resume Here to get started with Harrison Barnes today.

Alternative Summary

Harrison is the founder of BCG Attorney Search and several companies in the legal employment space that collectively gets thousands of attorneys jobs each year. Harrison’s writings about attorney careers and placement attract millions of reads each year. Harrison is widely considered the most successful recruiter in the United States and personally places multiple attorneys most weeks. His articles on legal search and placement are read by attorneys, law students and others millions of times per year.

More about Harrison

About LawCrossing

LawCrossing has received tens of thousands of attorneys jobs and has been the leading legal job board in the United States for almost two decades. LawCrossing helps attorneys dramatically improve their careers by locating every legal job opening in the market. Unlike other job sites, LawCrossing consolidates every job in the legal market and posts jobs regardless of whether or not an employer is paying. LawCrossing takes your legal career seriously and understands the legal profession. For more information, please visit www.LawCrossing.com.
Gain an advantage in your legal job search. LawCrossing uncovers hidden positions that firms post on their own websites and industry-specific job boards—jobs that never appear on Indeed or LinkedIn. Don't miss out. Sign up now!

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