Barney & Barney Annual Survey Finds That General Counsel Compensation Rose by 4.7% In 2011 at California Companies
Annual compensation for General Counsels rose 4.7% in 2011 to $802,000 at publicly traded companies in California's major coastal markets, according to a survey by the Compensation Consulting Practice of Barney & Barney.
While total direct compensation increased, General Counsels earned, on median, less than the target allocation budgeted by California companies. Total direct compensation was, on median, 10%, or $89,000 less, than target total direct pay in 2011.
“Publicly traded firms in California contained compensation costs for General Counsels by limiting total pay increases to 4.7% in 2011,” said Matt Ward, National Practice Leader of Barney & Barney's Compensation Consulting Practice. “Total pay was 10% less than target pay for General Counsels, which may suggest that a recovery is underway in several, but not all sectors of the California economy.”
The annual State-of-Pay Reports by Barney & Barney focused on General Counsels primarily at mid-sized firms in San Diego, Orange County/Los Angeles and the San Francisco-Bay Area. Earlier in October, Barney & Barney released a report on compensation for Board Directors and Chief Financial Officers for publicly traded firms in San Diego, as well as Orange County/Los Angeles technology companies, and life sciences firms and technology firms in the San Francisco-Bay Area.
Other key findings:
- 50% of General Counsels received a merit increase in 2011, which was, on median, 4.9%.
- 82% of General Counsels received cash bonuses in 2011. A total of 49% received a mix of options and full-value shares.
- 89% of General Counsels received a long-term incentive last year (excluding new hires).
To download the full report, visit http://www.barneyandbarney.com/reports/barneyandbarney-form.html or contact the compensation consulting practice at 858.875.6589.
About Barney & Barney
Founded over 100 years ago, Barney & Barney LLC is headquartered in San Diego, with offices in San Francisco, Oakland, and Orange County. For more information, visit www.barneyandbarney.com, or call 800.321.4696. For information about the Barney & Barney Foundation, visit http://www.barneyandbarneyfoundation.org.