What's Up With the 'VP of Legal' Title?
Julie Q. Brush, author of The Lawyer Whisperer blog, takes a look at the reporting lines and salary range for the in-house legal title that's something of a 'GC light' position.
January 16, 2019 at 12:45 PM
4 minute read
The original version of this story was published on The Recorder
A: In earlier Lawyer Whisperer articles, I describe the various attorney profiles that define a private company general counsel. However, one such profile fits more squarely into a role that is not as elevated as a true GC. That role is what I refer to as a “GC Light.” This attorney profile tends to be on the more junior side of the GC seniority spectrum (between 12–15 years), has a strong commercial/tech transactions background and often enters the role without prior GC experience. She has solid law firm and in-house experience often with well-branded employers and served in a high-ranking position within her former legal department (often the No. 2 lawyer). This attorney is tasked with the blocking and tackling of the sales, commercial and other tech agreements, setting up the department infrastructure and handling most general corporate, IP, privacy and other matters that come down the pipe. This isn't a core strategic position and exposure to the board is fleeting.
The title for this type of position does not include the words “general counsel,” but rather is monikered as “Head of Legal” “Head of Legal Affairs,” “Director of Legal Affairs” or VP of Legal. The reporting structure is typically to the company's CFO, but it can also report to other executives like the CAO and COO. It does not report to the CEO, but there are some exceptions.
Compensation varies depending on the stage of the company, funding, geographic region and seniority of the candidate. Base compensation is between $210,000–$240,000, bonus is 20-30 percent. There is a stock (options) grant, but it doesn't come close to the grant of a prototypical GC with a CEO reporting structure. The exact stock numbers are not uniform across companies and depend on their internal compensation metrics. But general ranges are in the .03 -.1 percent or a $250,000-$850,000 valuation (give or take). Of course there are outliers, but these numbers are considered “market” in today's in-house legal market.
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