Block on Trump's Asylum Ban Upheld by Supreme Court
The ACC's 2013 Annual Law Department Compensation Survey's results are in, and it's good news for in-house legal departments. As some might expect from all the bad news in BigLaw, spending on outside counsel is down overall, and in-house spending is up. Departments of all sizes are seeing modest salary increases, and in another unsurprising note, the bigger the in-house legal department, the more the general counsel's base salary is on average.
What else did the survey find? Read on.
This portion of the respondents includes departments with an average revenue size in excess of $32 billion, and included more than 170 participating companies. The key findings for large departments included:
The mid-market respondents included 83 participating companies with an average revenue of just a tick more than $2 billion, and a range of $750 million to $4 billion. The findings include:
The final group of companies included companies with revenues of $750 million or less. And the findings there included:
The most notable trend was that 55 percent of companies cut outside legal spending, a finding echoed by Robert Half's survey that we peeked at earlier this week.
Other interesting trends included a major uptick in real estate spending. Both inside and outside counsel spending is up, with outside spending increasing by nearly 30 percent, and inside increasing by 3.9 percent.
For individual attorneys, Industry-wide, the highest compensation for GCs were found in positions with media, pharmaceutical, financial services, real estate, and energy companies. The survey also reports a major growth in regulatory and compliance specialty positions.