“How can we help your law department?” has been the tag line in my email signature for years.
For 2022, the answer is becoming clear already. I can help you land the senior counsel you want in a marketplace with tight salary compression and stiff competition.
It seems like almost every law department is looking to hire a senior counsel with 10 to 15 years of experience at base salaries ranging from $210,000 to $250,000. If your company is paying less than that, you are feeling the pain of frustration. If your company can offer more and/or include a quality equity component, you are going to see a successful outcome.
If your opening falls within this benchmarked range, then your position is indeed “at market.”
While most in-house attorneys feel underpaid, mathematically the truth is that most are paid within their market value. Therefore, the challenge lies in attracting someone to move laterally within the compensation sweet spot of the law department pyramid.
To help make a lateral move attractive:
1. Embrace the flexibility of a “hybrid” work model, even post-pandemic.
2. Clearly outline a career path forward that gives a new hire hope and enthusiasm. Lateral moves are accepted by in-house attorneys who feel stuck.
3. Use me or one of my competitors. This sends a message that the opening is particularly meaningful to you, and it provides far greater access to passive candidates.
Thank you for reading eNews. This newsletter is back after a 2021 hiatus, and I expect this to be our strongest year yet. The highlight of all of our newsletters is always the general counsel profile. After a delightful lunch back in October with one of my favorites, I knew right away that Dorothy Capers would be the perfect person to feature for the newsletter’s 2022 return. Thank you, Dorothy.