What goes up must come down. Looks like Newton’s law of gravity also applies to in house counsel salary as a recent survey indicates that the in house counsel salary increases are slowing. In a survey conducted by Hildebrant Baker Robbins, the average seniority level in house counsel salary is a cool $174,000.
Although that figure may be less than what many associates at big law firms are earning there are two upswings to the in house counsel salary – not working under outrageous billable hour requirements and typically receiving much larger bonuses than law firm associates. In 2010, the average in house counsel bonus was $57,000. The salary figures did represent the smallest percentage increase seen in the industry in the last six years, with only a 2% jump from the previous year.
The decline in salary increases seems to be as much a reflection of the current recessionary state of the legal profession as it does the economy as a whole. Money isn’t everything and recent studies have shown that in house counsel have high qualities of life and are generally happy employees.
Related Resources:
- Rate of In House Counsel Salary Increases Slows Down (Community Voices)
- Alternative Fee Arrangements Are Becoming More Popular (FindLaw’s InHouse)
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