"If you have to throw millions of dollars at somebody before they start work, and then they start work and it doesn't work out, you are up the creek because you've paid them a lot of money," legal department consultant Jason Winmill said. "Sunk costs are exactly that—sunk."
September 03, 2024 at 01:00 PM
7 minute read
The original version of this story was published on Corporate Counsel
The cost of luring a well-regarded legal chief from another company is spiraling like an arms race between nations, as big public companies increasingly dole out eye-watering signing bonuses on top of alluring pay packages.
Intended to offset cash payouts and unvested grants of stock and stock options legal chiefs forfeit when they leave their employers, the welcome packages are likely to continue to swell in size as companies scratch and claw for top talent.
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