Source: Corporate Counsel
By Jennifer WIlliams-Alvarez
Two recent lawsuits brought by contract attorneys seeking overtime pay have gotten the attention of law firms and staffing agencies, some of whom are changing hiring practices to avoid the issue of overtime.
Alan Braverman took the cake when it came to this year's list of best-paid general counsel. With over $7 million in total cash compensation, The Walt Disney Co.'s GC nabbed the top spot for the second year in a row. But the 2016 General Counsel Compensation survey is about more than just take-home cash, and, in an effort to give each winner their respective pat on the back, we're going to break the rankings down by more than just hard cash.
So what's causing the dip in the numbers? Bob Graff, a partner and recruiter in the in-house practice group at legal search consultants Major, Lindsey & Africa, blames it on the fact that there has not been a lot of growth for the economy in general. "In a recession, people don't get the bonuses and long-term incentives. Then, as you bounce back, a company is able to give these things again," Graff says.
But as economy growth slows, these parts of compensation plateau, he says. "What we're seeing is reflective of a slower-growth economy and recuperation from a recession. Now things have flattened out a bit."
Read more of this feature at CG Comp 2016: The Bonuses Edition.