The Walt Disney Co. general counsel Alan Braverman, Morgan Stanley chief legal officer Eric Grossman and Fox Corp. chief legal and policy officer Viet Dinh are the three highest-paid top lawyers, according to The 2020 General Counsel Compensation Report from Corporate Counsel affiliate ALM Intelligence.

The report analyzes Fortune 1000 companies' 2019 Securities and Exchange Commission filings and compilation of their top lawyers' compensation data. It also found two female GCs in the top 10 paid GCs as the gender pay gap seems to be narrowing.

Laureen Seeger of American Express and Karen Seymour of Goldman Sachs Group each brought home about $4.5 million. It's relatively close to Dinh's $6 million, Grossman's $7 million and Braverman's $8 million salaries.

In 2019, the average male GC's total cash compensation in 2019 was $1,216,118, while female GCs averaged $1,136,486, a difference of about 6.7%. In 2018, the average cash compensation gap was nearly 16%, with men earning $1,277,971 while women received $1,088,788.

Meanwhile, the median bonus pay for female GCs was 1.6% higher than males last year. And the median stock awards for female GCs were 1.9% higher than the median awards for men.

"It's encouraging to see the gap closing," Josephine Gartrell, director of Willis Towers Watson's talent and rewards practice, told Corporate Counsel. "I think it's reflective of a push on companies' parts, not only at the executive level but also the director level, to include more women and minorities in all of those different roles."

So far this year, many executives, including GCs and CLOs, have taken salary cuts to help their companies rebound from COVID-19. One example is United Airlines that promoted former GC Brett Hart to president as he forwent his salary at the height of the coronavirus pandemic.

Dinh announced in April he was giving up his entire salary through September. At Disney, Braverman's salary was reduced by 30% this year. Even with the push for diversity and inclusion due to the pandemic-induced staff cuts and the anti-racism protests, what happens to the gender pay gap in 2020 remains to be seen. What do you think about the latest trends in GC compensation? Please let me know at [email protected].

 

SPONSORED BY ALM

Announcing Two Incredible Keynote Speakers for the Women, Influence & Power in Law Conference

WIPL is known for having some of the most engaging and energizing keynote speakers attend to share their thoughts, experiences, war stories and tips on effective leadership. And this year is no exception. This year, we are grateful to welcome two remarkable women come and inspire us: Tina Tchen, the President and CEO of the "Times Up" Legal Defense Fund and Paula Boggs, Founder of Boggs Media LLC and Former Executive Vice President, General Counsel and Secretary, Law and Corporate Affairs at Starbucks from 2002-2012. READ MORE

If I look at the other large entertainment companies, in the executive ranks, they don't have a diverse roundtable. I would be remiss if I didn't find talented people who look like me, regardless of the pandemic. That is what I do on a day-in, day-out basis. I am always going to give the opportunity to someone who maybe doesn't get the chance that I got. That is before the pandemic, during the pandemic and after the pandemic.

- Steve Harvey Global GC Brandon Williams talks to Corporate Counsel about keeping diversity and inclusion in mind amid the COVID-19 crisis.

What's Happening

 

Looking for Alternatives

More corporate legal departments are seeking out alternative legal service providers for services such as business consultancy, legal process outsourcing, contract services, and tech-powered document analysis.

Historically, ALSPs were viewed as providers of high-volume, low-risk document review work. However, over the past few years, they have expanded their services and grown their clientele.

"To the extent that what we're looking for is true legal analysis and services, the analysis typically goes: We need a lawyer, what lawyers do we know and trust? And it becomes more of a matter of word of mouth and reputation," said LegalZoom.com managing corporate counsel Joe Callaghan. "What we're looking for is skill sets without having to go through the full hiring process."

 

The New Associate GC

The role of the associate general counsel, or other midlevel in-house attorneys, has grown with the general counsel role to include more business-oriented responsibilities.

Dimitri Mastrocola, a partner in the in-house practice of legal recruiter Major, Lindsey & Africa, said now midlevel in-house counsel are more likely to be speaking directly to different business units without immediate supervision.

"With communication comes really good listening skills," added Susanna McDonald, Association of Corporate Counsel CLO. "I think that is where the emotional intelligence comes up the most; listening and understanding what an individual is telling you."

 

What Drew Her to the GC Job

Mialeeka Williams is the new and first GC of Washington, D.C.-based Kit Check that makes software for hospitals to detect when medications go missing.

A former in-house counsel with Atlanta corporate giants The Coca-Cola Co. and McKesson, Williams said her move to Kit Check was inspired by her father's death from a drug overdose.

"It shaped a lot of how I began to formulate the rest of my life," she said. "I wanted to be in a position where I can make a difference for other people so this doesn't happen to them."

General Counsel Conference

 

Network with Hundreds of General Counsel and Senior Legal Leaders from Your Home or Office!

Corporate Counsel's General Counsel Conference is going virtual this year on Sept. 15-16.

GCC is the premier forum for GCs to learn, network and evolve in their roles. With a focus on the in-house counsel's perspective, sessions will tackle topics covering law department operations and efficiency, and the evolving role of the GC as a business advisor, while also taking a deeper dive into industries like biotech/pharma, finance and real estate, and the regulatory, compliance and strategic issues they are facing.

If you're interested in attending the conference, then please register here.

Does Force Majeure Apply?

 

COVID-19 as a Trigger for Force Majeure: A Global Survey is a collaboration between ALM editors and McDermott Will & Emery lawyers Lisa Richman, Shawn Helms, Jason Krieser and Matthew Cin.

The authors developed the survey as a simple Q&A that allows companies and legal professionals to quickly access guidance for key questions across multiple jurisdictions, including globally. The ALM team designed the title to ensure easy access to answers as well as to the precedent underlying the guidance.

The publication, online and in ebook format, covers 10 countries and 16 U.S. jurisdictions, including California, New York, Illinois, Florida, Georgia, Pennsylvania, Massachusetts, New Jersey, Texas and D.C. The international sections help readers assess contractual obligations in Belgium, Canada, China, Germany, France, India, Italy, Japan, Mexico and the U.K.

The ebook can be purchased at Law Journal Press.

On the Move

 

Timothy Harris, who has spent over 30 years in the legal department of Prudential Financial in Newark, New Jersey, announced he will retire in September. Deputy GC Ann Kappler was named to take over the top lawyer spot.

Hewlett Packard Enterprise promoted CLO John F. Schultz to chief operating officer. In his new role, Schultz still oversees the legal function from San Jose, California, but he sheds the title of chief legal and administrative officer and corporate secretary for chief operating and legal officer.

Validity Finance hired its first in-house lawyer. Jason Listhaus joins the New York-based litigation funder from Fried, Frank, Harris, Shriver & Jacobson. Listhaus will manage deal-side aspects of Validity's investments, including helping structure and negotiate funding arrangements.