Beginning Next Week: InsideCounsel will become part of Corporate Counsel. Bringing these two industry-leading websites together will now give you comprehensive coverage of the full spectrum of issues affecting today's General Counsel at companies of all sizes. You will continue to receive expert analysis on key issues including corporate litigation, labor developments, tech initiatives and intellectual property, as well as Women, Influence & Power in Law (WIPL) professional development content. Plus we'll be serving all ALM legal publications from one interconnected platform, powered by Law.com, giving you easy access to additional relevant content from other InsideCounsel sister publications.

To prevent a disruption in service, you will be automatically redirected to the new site next week. Thank you for being a valued InsideCounsel reader!

X

2006 Compensation Report

It's no secret that if you're looking to max out your earning capacity as an attorney, a legal department isn't the place to do it. In-house compensation has never matched law firm pay. But legal departments have been narrowing the compensation gap. According to data compiled by staffing firm Robert Half Legal, for example, between 2005 and 2006, salaries at large law firms grew only .4 percent on average, while in-house salaries grew nearly 10 percent.

However, by this time next year, law firms will have blown the differential wide open once again. Major New York law firm starting salaries jumped from $125,000 to $145,000 this year. The rest of the nations' major firms will soon follow suit. While this will broaden the compensation gap between firms and legal departments, the good news is that the in-house salaries will continue their incremental climb.

"The huge increases at law firms will put pressure on legal departments to start narrowing that gap again," says Mike Evers, president of Evers Legal Search in Chicago. Although catching up to law firm compensation remains a pipe dream, you should take heart in the data InsideCounsel's 2006 compensation report reveals.

"The big picture is that we are starting to see a movement back toward a seller's market for legal employment," says James Wilber, principal at Altman Weil.

Download the 2006 Compensation Report

Technology Editor

Keith Ecker

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.