US survey reports increased pay for in-house lawyers
Things are looking good for US in-house lawyers, who are seeing higher base salaries, bigger cash bonusus, larger total cash compensation, and higher total compensation (which includes the value of long-term incentives), according to the latest Law Department Survey released by HBR Consulting.
The average cash bonus for in-house lawyers increased almost 26 per cent this year, with the average chief legal officer taking home a $370,000 cash bonus, and the average in-house lawyer pocketing a $67,000 cash bonus.
According to the survey, the average in-house lawyer saw a 3.3 percent increase in base pay, compared to a 2.6 percent increase last year. The average base salary across attorney levels was $178,000.
Part One of the survey, released last month, reported that many companies are seeking to cut costs by managing legal work in-house. That conclusion, taken together with the compensation data from Part Two of the survey released this week, is promising news for in-house lawyers.
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