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What a year. The government became a major shareholder in whole sectors of the economy, while consumer demand plunged to levels not seen in decades. Mass layoffs and forced furloughs without pay ensured that money would stay tight for a while. Through previous recessions, general counsel stayed largely untouched. Indeed, the past decade shows a nearly unbroken string of pay raises. No more. While some indexes of GC pay rose, the basic trend was nearly flat. Why? Because executive pay has become inextricably bound with corporate performance. And if the company doesn’t do well, the GC might find a thinner pay packet. How thin? It’s all relative. Make no mistake, the lawyers in the following pages are still handsomely compensated for their hard work. Inside this special report:

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