Responsibilities (and Salaries) Rising for In-House Counsel

The Wall Street Journal Law Blog has a nice piece on the increasing importance (and pay) of in-house attorneys. As more space is being made for general counsel toward the top of the food chain in large companies, the level of responsibility and level of compensation is rising commensurately.

“The strategies of companies are changing, the external regulatory schemes are changing,” [Cameron] Findlay [general counsel of Medtronic] said. “You’ve got to anticipate the risk tomorrow, and help your colleagues prepare for how to deal with that.”

The jobs may be getting harder, but the pay is increasing as well, with the general counsel of Fortune 1000 companies making a median income of $1.4 million. The roles of corporate counsel are also requiring less prior in-house experience. Perhaps with the changing roles of in-house attorneys we will see new opportunities for young lawyers as well?

(photo: Shutterstock: 93521632)

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