Thank you for sharing!

Your article was successfully shared with the contacts you provided.
It’s payday for chief legal officers. After Sarbanes-Oxley and the fallout from the corporate scandals of the past two years, general counsel are finally being rewarded for shouldering extra risks and responsibilities. Top lawyers at Fortune 500 companies earned more money last year than ever before: Our 2003 GC Compensation Survey found a 9 percent increase in cash compensation for the 100 best-paid GCs. General Electric’s Ben Heineman is still the “Shaq” of the in-house lawyer arena, crowning our list for the second year in a row with a combined salary and bonus of $3,930,000 (plus $13,884,923 worth of exercisable options). But it wasn’t just the industry giants who saw their paychecks swell. The GCs at the bottom of this year’s chart, numbers 76 — 100, posted a whopping 17 percent increase in cash compensation. In fact, the cutoff to make our top 100 roster this year was a combined salary and bonus of $665,475. But, as staff reporter Eriq Gardner points out (“Bottoms Up,” page 78), GCs at both ends of our list are working harder than ever before. But like others in the executive suite, corporate counsel’s days of hefty option grants are over. There were some exceptions, however. Honeywell awarded GC Peter Kreindler $3,692,000 in restricted stock last year, and Anheuser-Busch GC Stephen Lambright cashed in $9 million worth of options (while sitting on an additional $11 million in exercisable options at the end of 2002). What about all those hard-working attorneys who didn’t make our list? We also want to hear from you. Our Quality Of Life survey looks at how in-house lawyers like their work, compensation, benefits, opportunities for promotion, relationship with outside counsel, and more. To ensure that we get a representative pool of respondents, please take our electronic questionnaire (use the URL below). The survey is anonymous, and it will be online through September 30, 2003. Results will be published in our December issue. Tell us what you really should be earning in 2003, and whether we can plan on seeing you on our top earners list anytime soon. http://corpcounsel.com/qolsurvey/

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.