Leopard Solutions’ 2024 Corporate Counsel Salary & Lifestyle Survey offers a comprehensive look into the evolving landscape of in-house legal departments. Key findings include:
Work-Life Balance and Compensation:
- Hybrid Work: 66% of respondents work in a hybrid model, balancing in-office and remote work.
- Competitive Compensation: Organizations offer competitive salaries, with General Counsel earning an average of $292,339.
- Comprehensive Benefits: Companies provide a range of benefits, including parental leave, health insurance, and wellness programs.
Challenges and Opportunities:
- High Workload: Nearly 60% of respondents report high workloads and time management challenges.
- Limited Advancement Opportunities: Career progression can be limited within in-house roles.
- Diversity and Inclusion: While there’s growing awareness, 45% of companies still lack a formal diversity supplier program.
Implications for Law Firms and In-House Counsel:
- Law Firms: Adapt to the shift towards in-house legal teams by offering flexible fee arrangements and prioritizing client service.
- In-House Counsel: Focus on employee well-being, leverage technology, and advocate for diversity and inclusion.
By understanding these trends, law firms and corporate counsel can make informed decisions, optimize their strategies, and position themselves for success in the future. A full report of the survey is available in the whitepaper: 2024 The Corporate Counsel Landscape: Trends and Opportunities.
