By Erin Geiger Smith
Nov 7 (Reuters) - Top lawyers working for tech, media and
telecom companies were better paid than their colleagues in
other industries, according to a new survey by Equilar, an
executive compensation firm.
The tech, media and telecom industries paid their general
counsels a median of $1.7 million. The lowest-paying industries
-- retail and consumer firms -- paid a median of $1.1 million,
according to the survey.
The Equilar report was based on information on the
compensation of approximately 400 general counsel from Fortune
1000 companies in 2012.
The survey found that of those 400 general counsels,
those companies with higher revenues earned more than the top
lawyers at businesses with smaller revenues.
The median compensation for the top lawyer at a company with
more than $20 billion in revenues was nearly $2.8 million.
Companies with revenues between $5 billion and $10 billion paid
their GCs a median $1.3 million.
The survey also looked at a narrower group of 136 general
counsels from Fortune 1000 companies, and compared their 2012
compensation to their 2011 pay. In this group, pay packages rose
slightly, reaching a median of $1,548,000 in 2012, up from
$1,512,000 in 2011.
By examining the public filings of Fortune 500 companies,
Equilar uncovered differences in pay for male and female general
counsels, as well.
Though 148 of the 175 general counsels included were male,
the women of that group earned slightly more. The median
compensation for a female general counsel was nearly $1.3
million, while men earned just over $1.1 million.
For law schools, the Equilar report highlights the campuses
that serve as a breeding ground for general counsels. The school
with the most general counsels at Fortune 500 companies, as
compiled from public data, is Harvard, with 16 out of 175.
Second place goes to Georgetown University, which boasts 12.
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