General counsel at the largest companies in the US have seen their pay rise by a fifth since 2020, according to a report from Equilar in association with BarkerGilmore.
The 2025 General Counsel Pay Trends report showed that median GC compensation at Equilar 500 companies – the 500 largest companies headquartered in the US by revenue – rose to $3.4m in 2024, a 20.5% rise from $2.8m in 2020. Performance-related incentives were the largest component of GC pay, rising 11.9% to just over $1m during the same period.
While the number of women GCs at Equilar 500 companies fell to 33.5% from 34.9% in 2020, their pay has outpaced their male counterparts for three years in a row. Women GCs earned a median of $3.6m in 2024, compared to $3.4m for men, with performance incentives also slightly higher. However, male GCs on average had $560,000 in stock awards, almost a fifth higher than women.
John Gilmore, managing partner at BarkerGilmore, said: “Pay is important, but it is only part of the equation for attracting and keeping top legal talent. Forward-thinking companies are using data like this to stay ahead of market shifts, promote pay equity and create workplaces where legal leaders thrive for the long term.”
While median pay rose, rising compensation was industry-specific, with six sectors seeing declines in GC pay in 2024 – basic materials, communication services, consumer defensive, energy, financial services and healthcare. Only utilities GCs have seen consistent annual pay growth since 2020, rising 20.9% over that period, while consumer cyclical, industrials and technology sector GCs all saw compensation rise in 2024.
Financial services recorded the highest share of performance incentives (48.3%) and base salary (23.8%), while consumer cyclical companies led in stock awards (38.6%).
Length of service also had a significant impact on GC pay up to a certain point, with those with six to 10 years of tenure earning $3.2m on average, rising to $3.6m for those who had worked for their companies for 11 to 15 years. However, those who had clocked up more than 20 years of service – albeit just 3.1% of respondents – had the lowest average pay at $2.6m.
The survey was based on disclosed regulatory filings by Equilar 500 companies.
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