Credit: Feodora/Adobe Stock Legal Chief Pay Fell in 2023 for First Time in More Than a Decade
"The need for high-quality legal talent certainly has not decreased. ... However, current rates of compensation do not necessarily reflect that need, creating an opportunity for those companies willing to recognize the value of premier legal talent," according to Major, Lindsey & Africa's 2024 Global In-House Compensation Survey.
July 24, 2024 at 06:40 AM
4 minute read
The original version of this story was published on Corporate Counsel
Companies paid out smaller year-end bonuses in 2023, which caused cash compensation for general counsel and chief legal officers to drop for the first time since the recruiting firm Major, Lindsey & Africa began producing its Global In-House Compensation Survey in 2012.
Major Lindsey's 2024 report, released Wednesday, found legal executives with either the title general counsel or chief legal officer received average total cash compensation of $556,794 in 2023, down $21,652, or 3.7%, from a year earlier.
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