Good news general counsel: Your companies like you. They really like you—at least if a new report on GC pay is any indication. The study from compensation researcher Equilar Inc. showed that GCs’ salaries are rising at a faster rate than those of many other top executives, perhaps spurred by an increasing focus on compliance and regulatory reform.
The Foreign Corrupt Practices Act (FCPA) turns 35 on Dec. 19 (although companies such as Wal-Mart and Pfizer probably won’t be celebrating its birthday.) A new Deloitte survey of more than 2,100 professionals shows that most executives are planning to upgrade their anti-corruption programs next year, but notes that the vast majority of businesses are not making use of the newest technologies to help them in their quest for compliance.
Last month, an HBR Consulting survey reported that businesses spent more on both in-house and outside legal counsel than they had in the preceding two year period. Unfortunately, that trend may be coming to an end, at least according to the new 2012 Chief Legal Officer report from Altman Weil. The study shows that corporate legal departments are using various tactics to cut outside counsel spend, such as negotiating for lower rates, moving more work in-house or even taking their business to less expensive law firms.
The legal services sector added 600 jobs last month, but there was no corresponding rise in the demand for legal services. A new report by the Peer Monitor Index shows that the demand in the sector has dropped for the second straight quarter, affecting nearly every practice area. Firms’ direct and overhead expenses also increased by 3.5 and 3.4 percent, respectively, during the same period.
Can women have it all? It’s a question that’s been bandied about for years, and one that was recently brought back into focus by Anne-Marie Slaughter’s now-famous Atlantic cover story. The good news for women lawyers is that more firms are introducing policies such as child care, flex-time and generous parental leave.