Download our 2024 Report to See Median General Counsel Salary Data
In recent years, the position of General Counsel (GC) has solidified its significance as an indispensable role within the boardrooms and executive suites of Corporate America. General Counsel are recognized for their ability to bring a high level of emotional intelligence and indispensable legal expertise, especially when navigating challenging and controversial circumstances.
Given the expansion of the role and added responsibilities, it comes as no surprise that the GC position is compensated well. Median total compensation for Equilar 500 General Counsel was up from $2.6 million in 2019 to $3.3 million. Plus, General Counsel compensation is rising at a higher rate than CEO compensation. Since 2019, the CEO-to-GC pay ratio has declined from 4.2 to 4.0 in 2023.
Download the full report to access complete General Counsel compensation analysis, including by sector, gender, and average pay mix.
About the General Counsel Compensation Report
This report analyzes the compensation of General Counsel disclosed in the SEC filings by Equilar 500 companies for the last five fiscal years. The Equilar 500 comprises the 500 largest U.S.-headquartered companies, by reported revenue, that trade on one of the three major U.S. stock exchanges (Nasdaq, NYSE, or NYSE American).
GC Compensation Trends for 2024 — Compensation Continues to Increase
- Median total compensation for Equilar 500 General Counsel increased by 24.8%
- Communication Services companies continued to offer the largest median pay packages
- The median value of General Counsel performance incentives increased 11% to $945,000 in 2023.
Equilar 500 Median Total GC Compensation by Revenue
Three Key General Counsel Pay Trends Revealed by the Report
1. Retaining General Counsel in a Competitive Market
Across all Equilar 500 GC surveyed, the largest portion (40.4%) have tenures between zero and five years. The second largest group, (GC who have held their position between six and 10 years) made up a third of the respondents. General Counsel with over 20-year tenures made up the smallest portion of the group: 2.6%.
2. GC Pay Trends for Women Outpaced Men
Gender-based compensation disparities narrowed in 2023, but for the third time since 2018, female General Counsel have earned more than their male counterparts. In 2023, women earned a median compensation package of $3.4 million, surpassing their male counterparts’ median pay of $3.3 million by 2.6%.
3. Industry Highs & Lows
In 2023, significant changes in compensation were observed across various sectors, with increases in six sectors. Communication services reached a study-high median pay package of $5.8 million in 2023. Three sectors (energy, industrials, and technology) saw a decline in GC pay. Download the 2024 report now to see other industry trends in GC compensation.
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We gather salary data from thousands of compliance leaders and legal counsels across the US. This complimentary compensation data will give you an edge in salary negotiations, or help recruit top talent for your organization.
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