2023 General Counsel Pay Trends

Download our 2023 Report to See Median General Counsel Salary Data

In recent years, the position of General Counsel (GC) has solidified its significance as an indispensable role within the boardrooms and executive suites of Corporate America. General Counsel are recognized for their ability to bring a high level of emotional intelligence and indispensable legal expertise, especially when navigating challenging and controversial circumstances.

Given the expansion of the role and added responsibilities, it comes as no surprise that the General Counsel position is compensated well. Median total compensation for Equilar 500 General Counsel experienced a near 20% increase since 2018, up from $2.6 million to $3.1 million. Over the last year, base salary for general counsel saw a significant increase from a median $575,000 to $601,300 in 2022.

Download the full report to access complete general counsel compensation analysis, including by sector, gender, and average pay mix.

About the General Counsel Compensation Report

This report analyzes the compensation of General Counsel disclosed in the SEC filings by Equilar 500 companies for the last five fiscal years. The Equilar 500 comprises the 500 largest U.S.-headquartered companies, by reported revenue, that trade on one of the three major U.S. stock exchanges (Nasdaq, NYSE or NYSE American).

General Counsel salary trends for 2023 — Compensation continues to increase

• Median total compensation for Equilar 500 General counsel increased by 19.4%
• The value of stock awards has increased by 50% since 2018.
• The median value of General Counsel performance incentives increased 8.7%to $838,700 in 2022.

Equilar 500 Median Total GC Compensation by Revenue

Get the full report to see salary information broken down by industry, gender, and company size.

Three Key General Counsel Pay Trends Revealed by the Report

1. GC Compensation Trends Beyond Salary

Besides salary, annual cash targets grew from $487,500 to $507,400, marking a 4.1% increase. While stock awards increased more modestly at 0.8%, moving up from $445,700 to $449,300, the largest increase in 2022 came from performance incentives. This component of pay surged from $771,800 in 2021 to $838,700 in 2022, reflecting a 8.7% increase.

2. GC Compensation for Women Outpaced Men

For the second time since 2018, female General Counsel have earned more than their male counterparts. In 2022, women earned $3.2 million, surpassing male General Counsel, who earned $3 million. The first instance of this gender-based earnings reversal occurred in 2020 when female General Counsel earned $3.2 million compared to $2.7 million for their male counterparts.

3. Industry Highs & Lows

In 2022, significant changes in compensation were observed across various sectors, with notable increases in seven out of ten sectors. The most substantial spikes were seen in the energy sector, which experienced a 37% increase. Download the 2023 report now to see other industry trends in GC compensation.