The considerable value to senior lawyers of long-term compensation

Data from the most recent Hildebrandt benchmarking survey (HILDS) shows how consequential long-term incentives are to senior lawyers in law departments. As a percentage of total compensation (salary, cash bonus and value of long-term incentives), the amounts range from 51 percent for chief legal officer’s, 45 percent for general counsel, 39 percent for deputy general counsel, and 29 percent for senior counsel.

In short, options, restricted stock, and other forms of long-term incentive account at the upper reaches of law departments for one third to one half of total compensation packages (See my post of July 25, 2007 on stock options and references cited; and Aug. 23, 2005 and April 23, 2006 about restricted stock awards.).