Two Louisiana-based companies are on the Fortune 500 list in 2020, energy company Entergy and telecommunications company CenturyLink, now Lumen. Of Louisiana`s 50 largest private employers, 60 percent are in the medical field, according to data from Greater New Orleans Inc. and published by Nola.com. Also in attendance: construction companies and Raising Cane`s Chicken Fingers. Only eight states have more lawyers per capita than Louisiana, according to a 2020 profile from the American Bar Association. It is unfortunate that the candidate and the GC could not agree on the lawyer`s remuneration during negotiations after investing so much time in the process. The candidate had the skills, experience and credentials to justify the salary they were seeking. However, given the different salaries in the legal department, there was no way for the GoC to respond to these requests. While it is not always possible or practical to obtain this information (e.g., what if there is only one other prosecutor in the department), there is nothing wrong with asking what the scope is when there are a number of assistant general counsel in the department. The salary of the General Counsel may vary. Unlike the world of Biglaw, where salaries and hourly bonuses are both common and relatively transparent (or at least not as hard to find), it can be harder to determine how much in-house lawyers earn.
Illinois has seen some of the fastest increases in attorney compensation over the past five years, according to The National Law Review. Job postings have also skyrocketed and the avocado market has grown by more than 20%. Most of the state`s law firms are located in Chicago, but with a generally lower cost of living in the state, finding an internal position and getting excess revenue probably won`t be a challenge. The National Law Review also stated, «You`ll expect robust career growth in this great state,» meaning there are opportunities to build an in-house legal career from scratch in the state. The August 2021 National Law Review called Georgia «one of the most sensational success stories in the legal industry in recent years.» It was a state that lagged behind in the number of lawyers working there and the amount of their salaries. But in 2018, the number of lawyers increased by more than 21%. According to the National Law Review, demand is «exploding» and in-house lawyers receive an average salary of about $80,000 per year compared to traditional lawyers. The legal profession is one of the fastest-growing high-wage professions in Indiana, according to the Indiana Department of Workforce Development`s Hoosier Hot 50 Jobs. In terms of employment opportunities for in-house counsel, among the U.S. companies with the highest revenues on the Fortune 500 list and headquartered in Indiana are Thor Industries, which manufactures recreational vehicles; Anthem Health Insurance; and Eli Lilly and Co. Aerospace, agriculture, automotive, and manufacturing make up South Carolina`s economy. Commerce, transportation, and utilities employ the most people in the state, followed by government and professional and business services.
Then there are production, education and health services, which make the state adaptable to in-house lawyers of all kinds. The cost of living in South Carolina is also 12% lower than the national average, making it a good place for aspiring in-house lawyers. In many organizations, it is this factor that sets real limits on what the company can offer a new employee. If you do not reach a higher level than lawyers already employed, you should not expect to receive a salary well beyond the range of existing salaries. The first step in determining the average salary of general counsel should be to look at comparable jobs. It is important to compare apples with apples when comparing the salary of in-house lawyers to that of other jobs: it is not an easy task. Major North Carolina companies with potential for in-house consulting positions include Bank of America and Duke Energy in Charlotte, Lowe`s in Mooresville and Hanesbrands Inc. in Winston-Salem. The median salary of a lawyer in North Carolina is in the middle of the 361 statistical metropolitan areas measured by the Bureau of Labor Statistics, according to the American Bar Association.
With the potential to work with renowned clients in various metropolitan areas of the state, in-house lawyers have the chance to launch their careers in North Carolina. Once you have your «comps» to estimate a certain corporate counsel salary, you can adjust salaries up or down, depending on how the comparable measures the job you are considering. Here are some of the factors to look at: Winners of Missouri Lawyers Media`s 2020 In-House Counsel Awards have worked for companies ranging from Cigna in healthcare to Arco Construction Co. to Anheuser-Busch and The Boeing Company. The state`s largest companies include Centene, a health insurer, Emerson Electric and Reinsurance Group of America. Most are located in St. Louis, with the exception of O`Reilly Automotive in Springfield. Manufacturing in Minnesota ranges from aerospace, sensors and semiconductors to medical devices, food production and packaging. Major industries also include information technology and data centers, as well as banking and insurance. Minnesota has more than 26,000 lawyers in 2021, up 0.9 percent from the previous year. With such a diverse economy, there are many opportunities for in-house lawyers to practice throughout the state, regardless of their areas of expertise. VP Legal or GC light: $285,000 – base salary of $300,000; 0 – 20% bonus, .07 – .2% shares Washington D.C., tops the list of cities and metropolises where legal services are most in demand, according to the ranking published by the American Bar Association in the ABA Journal.
It comes in sixth in terms of the number of lawyers in a state, and according to the same article, it`s the ABA Journal`s assessment of the best places to practice. Washington D.C. has 56,135 lawyers with more than a thousand in-house job postings for professionals in the nation`s capital. California is on a 2019 list of the best places to practice law, compiled by the American Bar Association in ABA Journal. For in-house lawyers, it was reported that the total annual cash ratio of $4.8 million in the greater Los Angeles area was the highest in the country. The state had the second-highest number of lawyers, just behind New York, with 170,117. San Francisco ranked 10th among cities and metropolitan areas with the highest demand for legal services. The National Law Review noted that California has four attorneys` centers: in addition to San Francisco, there are Los Angeles, San Diego, and Sacramento. Richmond, Virginia ranks 10th on a 2019 list of the best cities to practice law in Above the Law.
The list compiled by AdvisorSmith took into account the cost of living index, average annual salaries and job density. Among the state`s leading enterprises is: Northrop Grumman in Falls Church, Virginia. Virginia is also part of the Washington D.C. Metro Zone that offers in-house lawyers the opportunity to practice with companies in the nation`s capital region. Florida ranked fourth for the number of attorneys per state in 2019. That`s according to a list of the best places to practice from the American Bar Association in ABA Journal. Tallahassee, Florida ranked second among cities and metropolitan areas with the highest demand for legal services, according to the same list, and Miami was #6. Florida is also home to big companies like Walt Disney World Resorts and draws tourists to its beaches and theme parks, making it a prime location for in-house lawyers working in hospitality and tourism.
In addition, Florida ranks #8 in the U.S. in terms of economic stability and potential, giving in-house lawyers the opportunity to grow. Maryland ranks tenth on a list of the most lawyers by state, compiled by the American Bar Association in the ABA Journal for an article on the best places to practice. As for the economy, the Baltimore Sun described it in 2018 as follows: «From agriculture and manufacturing to military contracts and natural gas production, Maryland`s economy is diversified.» Major employers include Giant Foods and Johns Hopkins Medical Institutions, which provide employment opportunities in medicine, retail, etc. to many in-house lawyers.