In the wake of the recession, in-house lawyers have become accustomed to taking on challenges. They’ve accrued responsibilities related to new technologies and regulations, and they’ve learned to operate on leaner budgets by internalizing more work.
According to HBR Consulting’s 2012 HBR Law Department Survey, which reports on data from 2010 and 2011 and in which a record 260 companies in 21 industries participated, compensation for the in-house bar is on the upswing.
Bonus levels are similar to those that companies reported in HBR Consulting’s 2011 survey. CLOs saw an average cash bonus of $518,035, which is a 5.1 percent increase. GCs saw an average cash bonus of $316,726. Although the amount is a 4.5 percent decrease from the astounding 18.3 percent jump companies reported in the 2011 survey, GCs still are seeing an increase compared with years past. The average cash bonus for all attorney levels was $62,465, a 3.4 percent increase.