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Compensation plays a vital role in fostering employee engagement, satisfaction, and retention. Given this, providing in-house legal employers and professionals with the right knowledge and resources to understand and have meaningful conversations regarding compensation is fundamental to the legal workplace.
When in-house legal department leaders understand how compensation works, they’re able to make fair and equitable compensation decisions that align with your company's values and goals. Similarly, when in-house legal professionals have better insight into compensation, they’re able to have better aligned conversations with their managers about their salaries and make data-driven career decisions.
At Legal.io we have a unique window into the labor market, as we use salary surveys to gather insights about in-house legal departments and legal talent sentiment. The result is a wealth of real-world data, allowing us to provide unique perspectives on workplace compensation. In advance of our 2024 Legal.io In-House Compensation Report, we’re excited to publish our 2024 In-House Compensation Satisfaction Report, derived from survey data submitted by 1,500+ in-house legal professionals working at top tech and Fortune 500 companies.
Compensation Satisfaction Analysis
Over half of in-house legal professionals are Satisfied or Very Satisfied with their compensation, while more than a quarter are Dissatisfied or Very Dissatisfied. The wide discrepancy suggests that work-life balance, role expectations, and other factors tied to compensation play a role in overall compensation satisfaction.
Across all in-house legal roles, satisfaction varies significantly. Some of our role-specific findings include:
Assistant / Associate General Counsel: Despite reasonable compensation, there's a significant 20.41% very dissatisfied group, suggesting other factors influencing satisfaction.
Commercial Counsel: Shows a balanced view of satisfaction, with 19.35% both very satisfied and very dissatisfied.
Corporate Counsel: The largest group is neutral (48.28%), indicating a balanced perspective on compensation.
Deputy General Counsel: Remarkably high satisfaction (38.24% very satisfied), correlating with high compensation.
General Counsel: Despite highest compensations, satisfaction is not predominantly very high, hinting at other satisfaction determinants.
Legal Operations: 62% legal ops professionals are very satisfied or satisfied with their compensation
Notable Observations:
The Deputy General Counsel role has a notably high percentage of "Very Satisfied" individuals, which aligns with their higher compensation figures.
The Assistant / Associate General Counsel role, despite having reasonable compensation, shows a significant proportion of "Very Dissatisfied" individuals.
General Counsel and Commercial Counsel roles exhibit a more balanced spread across satisfaction levels, with a notable presence in the "Neutral" category.
Corporate Counsel shows the largest "Neutral" category, indicating a balanced or indifferent view towards compensation.
Breakdown of Compensation by Role
Assistant / Associate General Counsel
Salary: Averages at $202,856, aligning closely with the median of $200,000.
Stock Compensation: On average, $29,977, with a significant range indicating varied stock options.
Bonus: Average bonus compensation stands at $42,123.
Commercial Counsel
Salary: An average salary of $168,826, with a median slightly lower at $160,000.
Stock Compensation: Average of $43,008, a median of $17,500, suggesting a mix of stock options.
Bonus: On average, $13,318, with a median of $14,000.
Corporate Counsel
Salary: An average of $182,000, with a median of $180,000.
Stock Compensation: Averages at $33,331, with a median of $10,000.
Bonus: Averages at $34,163.
Deputy General Counsel
Salary: The second highest average salary among the roles at $246,518.
Stock Compensation: Average stands at $47,507, median at $23,750.
Bonus: Average bonus is $61,023.
General Counsel
Salary: The highest average salary among the roles at $275,271.
Stock Compensation: Highest average at $101,198.
Bonus: Averages at $56,536.
Legal Operations
Salary: Averages at $151,632, with a median of $146,000.
Stock Compensation: Averages at $22,015, with a median of $11,000.
Bonus: Average bonus compensation is $17,174.
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