Hanover, MD (PRWEB) October 06, 2015
Major, Lindsey & Africa (“MLA”), the world’s leading legal search firm, today released the 2015 In-House Counsel Compensation Report in conjunction with General Counsel Metrics, LLC (GC Metrics), the leading source for law department benchmarking. The report combines data collected throughout 2014 by MLA and GC Metrics and includes information on more than 1300 lawyers.
"Companies are increasingly focused on cost containment and compensation competitiveness, including in their legal department,” said Rees Morrison, President of General Counsel Metrics. "The In-House Compensation Report provides comprehensive benchmarking data to guide General Counsel.”
"The success of Major, Lindsey & Africa’s in-house search practice makes it possible for us to provide a high level of granularity in compensation benchmarking,” said Miriam Frank, Vice President and Global Head of Client Services, In-House Practice Group at MLA. “The compensation of in-house law departments comprises a significant portion of a company’s overall budget. The In-House Compensation Report enables senior legal executives to better evaluate the level of compensation they should offer their internal lawyers.”
Report Highlights Include:
- Total compensation for all in-house lawyers seems to be highest at 15 to 30 years after graduation.
- Base salaries paid to General Counsel are in a fairly tight range.
- General Counsel base salary does not seem to be highly correlated to years of experience.
- Like base salaries, bonuses paid to General Counsel do not correlate with years of experience.
- Median base salaries for all in-house lawyers tend to cross the $200,000 threshold at approximately 15 years of experience and remain tightly clustered for the remainder of the lawyers’ careers.
- Base salaries for all in-house lawyers at a given level of experience are in a tight range across practice areas.
The data collected for each position includes the following:
Base salary in 2014
Position as either General Counsel or In-House Lawyer
Cash bonus awarded in 2014
Company revenue in fiscal year 2014
Law school graduation year
Primary practice area (for non-General Counsel only)
Note: This report does not disclose any information about any individual lawyer or any individual company.
For more details data from the In-House Compensation Report, please visit 2015 In-House Compensation Report.
Information for this report comes in part from the MLA and GC Metrics Benchmarking Survey, which includes a much broader collection of legal department benchmarking metrics. To participate in this benchmarking survey and to receive quarterly reports, visit MLA and GC Metrics Benchmarking Survey.
About Major, Lindsey & Africa
Founded in 1982, Major, Lindsey & Africa (“MLA”) is the world’s largest and most-experienced legal search firm. Combining local market knowledge and a global recruiting network, MLA has earned recognition for its track record of successful General Counsel, Corporate Counsel, Partner, Associate and Law Firm Management placements. MLA also provides law firms and companies with highly specialized legal professionals on project, interim and temporary-to-permanent hire basis. Committed to providing full service in response to the talent needs of its clients, MLA offers executive search services through its affiliate, Allegis Partners. With offices worldwide — in London, Hong Kong, Tokyo, Sydney and cities across the U.S. — and three strategic alliances — in Beijing, Moscow and Seoul — MLA recruiters are dedicated to understanding and meeting client and candidate needs while maintaining the highest degree of professionalism and confidentiality. MLA considers every search a diversity search and has been committed to diversity in the law since its inception. For these reasons, MLA was voted "Best Legal Recruiter" by readers of The National Law Journal. To learn more about MLA, visit mlaglobal.com.
About General Counsel Metrics
General Counsel Metrics, LLC, has for years conducted the largest benchmark survey in the world on legal department staffing and spending. Over the past three years, for example, more than 2,500 law departments have submitted data to the no-cost survey and obtained releases covering 25 benchmarks and 26 industries. Founded and led by Rees Morrison, a veteran management consultant to corporate law departments, GC Metrics has developed an array of innovative data analytics for internal legal teams. To learn more about GC Metrics, visit LawDepartmentManagementBlog.com.
Public Relations and Communications Manager
+1 (410) 579-3257
Major, Lindsey & Africa
General Counsel Metrics, LLC