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Corporate counsel pay also takes a hit

And in more news from the department of “it’s tough all over,” compensation for corporate counsel also has dropped, according to a new survey released by AmLaw’s Corporate Counsel.

Base pay has been relatively stable, the survey reports, dropping slightly to an average of $611,411 for GCs. But stock awards and bonuses are down. The value of the average stock award last year fell nearly 11 percent, to $1.4 million.

Still sounds like a lot of money? Not when compared to CEO pay for the companies represented by the in-house legal teams.

Last year’s top pay went to Denise Keane of Altria Inc., but this year, she dropped to 27 on the list.

Other companies with Virginia ties making the top 100 list include: No. 35 AES Corporation (Brian Miller); No. 58 Verizon Communications Inc. (Randal Milch); No. 88 Genworth Financial (Leon Roday) and No. 96 MeadWestvaco (Wendell Wilkie II).
–Deborah Elkins

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