Pay on the Rise for In-House Counsel

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Coaching for In-House Counsel"The Outlook for the In-House Market is Positive..."

While business at law firms is sagging, everything is coming up roses for in-house lawyers.

A new survey from HBR Consulting shows that pay is on the rise for in-house attorneys.

Also read: 5 Helpful iPhone Apps for Firms and In-House Counsel

“We are seeing healthy increases in in-house compensation at all lawyer levels, despite the challenging economic environment,” says Lauren Chung, senior director and survey editor at HBR. "The outlook for the in-house market is positive as law departments continue to keep more work in-house and increase pay for attorneys in corporate law departments."

Salaries are up across the in-house board, with Chief Legal Officers leading the way.

  • The average base salary for all attorney levels was $183,800, up 3.4% from 2011.
  • Chief legal officers had an average base salary of $521,000, up 5% from last year.
  • If you include bonuses, the average total compensation for in-house lawyers across all levels was $314,700, up 2.6% compared with 2011.

The only hitch: Bonuses. They have leveled off some since last year, when HBR charted an average cash bonus spike of 25%.7 between 2010 and 2011.

Also read: In-House Technology - What's Hot and What's Not

If you are an in-house lawyer, what are your thoughts on these findings? Do you also see your side of the legal field moving in a positive direction? Please comment and share your thoughts.

Source: WSJ Law Blog

 

Published In: Professional Practice Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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