The results of our 2022 Global In-House Compensation Survey, done in partnership with Western Management Group, reflect the current state of compensation in the market compared to 2020 figures—the last time we did the survey. Much has changed over the past two years as we’ve watched the market turn into one of the hottest hiring markets we’ve ever seen.
The survey found that since 2020, the total actual cash (TAC) compensation paid to general counsel and chief legal officers has risen by 15% around the globe. TAC compensation increased by a similar rate for deputy and associate GCs.
The interesting analysis merely starts there. The survey found:
- Globally, male CLOs and GCs still reported higher total actual cash (TAC =2022 base + 2021 bonus) compensation than their female colleagues. The TAC compensation for men averaged $578,374 compared to $501,486 for women, representing a pay differential of 15%—as well as increase in the gender pay gap since the survey was last conducted in 2020.
- The industries with the largest increase in TAC compensation from 2020 to 2022 were Entertainment (69%) and Energy/Public Utility (57%). U.S. CLOs and GCs in Energy/Public Utility reported the highest total annual actual cash by industry at $944,783, followed by Retail Sales Operations at $768,692 and Banking at $727,857.
- While White GCs earned an average compensation greater than that of Asian-American, Black and Hispanic/Latino GCs, the survey found an increase in compensation for Asian (33%) and Black (17%) GCs.