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General counsel compensation rises 21% over 5 years
Median general counsel compensation at major US companies rose about 21% from $2.8 million in 2020 to $3.4 million in 2024, according to new research from Equilar and BarkerGilmore. The Equilar analysis of 161 disclosed general counsel among the 500 largest US public companies by revenue found that performance incentives remained the largest component of compensation packages at 35% of total pay.
The steady compensation growth reflects the expanding strategic importance of the general counsel role beyond traditional legal oversight. Performance incentives, the largest pay component, increased 12% from $897,000 in 2020 to $1,003,800 in 2024. Base salary showed the most consistent growth over the study period, rising 8% from $622,400 to $671,400.
Compensation patterns varied significantly by sector in 2024, with six sectors experiencing declines while four saw gains. Utilities stood out as the only sector showing consistent growth since 2020, increasing 21% over the study period and 11% from 2023 alone. Financial services companies allocated the highest share of…
