GC’s Average Annual Salary: $1.4 Million

Executive compensation firm Equilar has just published its survey and report on General Counsel compensation, based on salaries, bonuses, stock awards, and stock options reported by companies in Equilar’s Top 25 Senior Officer Compensation Survey and on proxy statements filed by Fortune 100 companies.

The report shows that general counsel earned an average annual salary of about $1.4 million in 2009. The research indicates that higher GC salaries are linked to growing responsibilities of GCs, with a greater focus on protecting intellectual property and increasing M&A activity. As would be expected, GC’s higher up the chain of corporate command receive a higher salary. Those identified as executive officers in the corporation’s proxy statements and who also reported directly to the company’s CEO earned the most, with median compensation packages of $1.4 million. Those reporting directly to the CEO but not identified on proxy statements earned a median $1.2 million, while those further down the line earned a median $942,200.

Also expected, experience and company size also played a role in salaries. GC with less than three years’ experience earned a median $887,592; those with more than 10 years earned a median $1.3 million. GC at companies making more than $20 billion earned a median $2.3 million; those at companies making less than $5 billion made a median $787,793. An interesting observation—GC’s in the Midwest and the South made less than those in the West or Northeast.