In-house legal professionals across corporations are increasingly concerned about their compensation not aligning with the expanding responsibilities they shoulder. A recent webinar highlighted these frustrations, which are contributing to higher turnover rates among general counsel. The turnover is notably pronounced in the Fortune 500, with 68 changes in general counsel positions recorded in the last year alone. This trend is making lawyers in such roles more open to exploring new career opportunities.
The situation is further compounded by a shift in compensation structures, where more than ever before, companies are linking pay to performance targets. This added pressure is particularly prominent among legal chiefs, who find themselves grappling with a heavier workload while their compensation does not reflect this increased burden. For further details, please visit Law.com.