In an era of increased regulatory scrutiny, the need to attract and retain premier legal talent has never been greater. But rising law firm salaries can make that difficult. In order to compete in this climate, companies need to think creatively about the compensation, advancement and lifestyle options they offer. Looking beyond salary can provide the edge businesses need to woo top-notch talent.

With the exception of top-tier law firms that pay starting salaries around $150,000, companies hiring junior to midlevel in-house attorneys have demonstrated that they can compete with outside firms. Public corporations, suddenly sexy hedge funds and the private equity world are particularly adept when it comes to this competition.