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This question is about legal counsel salaries.
Does in-house counsel pay well?
Yes, in-house counsel pays well. Working as an in-house counsel can earn you an average salary of $117,383 a year, with the top 10% of earners averaging close to $180,000 a year. While in-house counsel pays well, it does not typically pay as well as working as a counsel for a large law firm.
A first-year associate's starting base salary, for example, can range from $145,000 to $160,000 in a large law firm. In contrast, a mid-to senior-level in-house lawyer with many years of experience may make the same base salary. With that said, there are other perks associated with being in-house counsel that someone working in a law firm may not have.
However, most companies offer their in-house counsel an annual target bonus that is generally based on some formula of company and personal performance. It's not uncommon for these bonuses to be 20 - 30% of the base salary.
Moreover, in-house counsel, unlike other types of counsel, receive some form of equity as part of their compensation package. In publicly traded companies, this is often restricted stock or stock options.
Comparison of salary for similar job titles:
Assistant General Counsel averages $152,222 per year
Associate Counsel averages $111,114 per year
Attorney averages $112,602 per year
In-House General Counsel average $150,340 per year
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