In this three-part series, we will share practical advice and useful tips that can help both the employer and the candidate during the hiring process determine if there is a cultural fit that is beneficial to both sides. Our Senior Advisors Maureen Brundage, Helen Pudlin, and Audrey Rubin shared their thoughts with me for this first article.
BarkerGilmore is pleased to, once again, have partnered with Equilar for publication of the 2020 edition of General Counsel Pay Trends. The purpose of the report is to shed light on trends in General Counsel compensation at the 500 largest U.S. public companies. Several factors influence overall compensation including tenure, scope of leadership responsibilities, complexity of legal and compliance challenges ahead, company performance, the GC’s reporting structure, and benchmarked pay across other company executives. Determining exactly how much a GC should earn simply by considering a peer group is not practical. As the data reveals, compensation reported for Named Executive Officers (NEOs) is all over the map, ranging from a low of $400K up to an astonishing $25MM. Many experienced inflated overall compensation in 2019 as a result of significant cash performance bonuses or one-time equity awards. Today, General Counsel are carrying greater weight on their shoulders, working endless hours, and managing stress with anticipation that bonuses and equity awards for 2020 will be significantly reduced — or not paid at all. Some of these remarkable leaders may not receive the appreciable performance awards to which they are accustomed, and of which they are deserving, until full economic recovery is achieved, likely several years from now.READ FULL ARTICLE
The responsibilities of the General Counsel have expanded in recent years, propelling a position once known solely as the head of the legal department into a key executive team member who contributes to strategic and risk management decisions. To recruit and retain exceptional talent, many corporations are investing in GC compensation at higher rates than ever before. BarkerGilmore and Equilar recently released the General Counsel Pay Trends 2020 Report to inform the GC compensation conversation. The report examines GCs who are Named Executive Officers at the 500 largest (by reported revenue) U.S.-headquartered companies that trade on one of the three major U.S. stock exchanges (Nasdaq, NYSE, or NYSE American).READ FULL ARTICLE
Clear the Path to Your Own Success: Three Ways Women Lawyers Can Overcome Reluctance to Self-Advocate in the Workplace
By now, most people are aware of the persistent wage and value gaps existing between men and women in the United States. The legal profession is no exception. Despite encouraging recent trends showing progress is underway, there is still much work to be done. In order to mitigate professional inequities, studies show it is imperative for women to proactively self-advocate throughout their careers. And yet, even modest self-promotion typically makes women cringe. Yes, even female lawyers report dreading it.READ FULL ARTICLE
A recent report by BarkerGilmore and Chief Executive Group found that CEOs are wanting more from their GCs. They want them to step up and add value at every possible turn. We spoke to A.B. Cruz III, Senior Advisor with BarkerGilmore and former GC and Chief Legal Officer, about how acting GCs should respond to these findings and how they may be utilized to their advantage.READ FULL ARTICLE
In a recent report by BarkerGilmore and Chief Executive Group, 70% of CEOs described their ideal GC as one who acts as a strategic business partner and is a valued member of the leadership team. However, although the GC role is viewed in most cases as an integral member of the executive leadership team, a majority of CEOs surveyed feel their GCs are falling short when it comes to their actually being a contributing strategic business partner. The report’s findings indicate that CEOs want their GCs to step up, raise their game, and add greater value to the senior management team dynamic.READ FULL ARTICLE