Most Unreasonable Expectations Placed on Legal Departments

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Compensation Climbs 6.7% for Top Legal Officers

As the role of the top legal officer at public companies continues to evolve, median total direct compensation (TDC) has increased 6.7%, according to the Equilar & BarkerGilmore General Counsel Pay Trends 2018 report. The report examines 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).

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Experience The GC & CCO Advantage: Meet Cornell Boggs, former Executive Vice President, General Counsel and Corporate Secretary at Toys “R” Us

Cornell Boggs most recently served as Executive Vice President, General Counsel and Corporate Secretary at Toys “R” Us and managed the global legal function. Previously as Senior Vice President, General Counsel and Corporate Secretary of Dow Corning Corporation, the world’s largest silicone product producer, he led Global Legal, Government Affairs, and Corporate Security, and served as Chief Compliance Officer.

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Experience The GC & CCO Advantage: Meet Michelle Banks, Former Global General Counsel, Corporate Secretary, and CCO of Gap Inc.

Michelle Banks most recently served as Executive Vice President, Global General Counsel, Corporate Secretary, and Chief Compliance Officer of Gap Inc. (Fortune: 178/NYSE: GPS), the third largest global clothing and accessories retailer and owner of the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. At Gap Inc., she led the global equity, foundation, franchise services, governance, government affairs and public policy, integrity, legal, privacy, and sustainability functions while managing teams in 15 countries.

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Top Six Trends for In-House Counsel Compensation in 2018

Within the last year, uncovering compensation information has become increasingly difficult as states and cities across the country began passing legislation that bans employers from questioning potential hires on salary history. States like California and Massachusetts have already approved the legislation, along with New York City, Philadelphia, and other major cities. The purpose of these new restrictions is to eliminate the gender pay gap existing in the U.S. today.

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What to Look for When Hiring A-List Players

Steve Jobs was brilliant at hiring A-list players at Apple. His laser focus on designing the best products was dependent on hiring and keeping the best talent. Based on his relentless pursuit of exceptional employees, Jobs left behind valuable advice about the importance of these players to the success of a high performing team:

“I noticed that the dynamic range between what an average person could accomplish was 50 or 100 to 1. Given that, you’re well advised to go after the cream of the cream. A small team of A+ players can run circles around a giant team of B and C players.”
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Four Reasons Lawyers Fail To Be Viewed As Strategic Advisors

Business leaders today expect in-house lawyers to contribute to the success of the business and serve as strategic advisors. While everyone ultimately seeks to earn a seat at the table and be considered a strategic advisor, many lawyers fall short. Nothing is more frustrating for the business team and the lawyer when this relationship doesn’t exist.

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Suggested Resources


2018

IN-HOUSE COUNSEL COMPENSATION REPORT

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How to Build
a World-Class
Legal Department

GENERAL COUNSEL
PANEL ANSWERS
5 KEY QUESTIONS

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The Rise
of the GC:

FROM LEGAL
ADVISOR TO
STRATEGIC ADVISOR

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