What are general counsel top concerns?

• Budgetary Constraints. ...
• Recruitment and Retention of Exceptional Talent. ...
• Implementation of Technology While Managing the Risks and Complying with New Requirements. ...
• Increased Regulatory Demands on In-House Legal Teams. ...
• Management of Increasing Costs of Outside Counsel Spend.

Is General Counsel higher than VP?

The VP of Legal often reports directly to the Chief Legal Officer (CLO) or General Counsel (GC). In some organizations, these titles may be used interchangeably, depending on the structure and needs of the business. In organizations without a CLO or GC, the VP of Legal may serve as the top legal executive.

How much does a General Counsel make at McKinsey?

Average McKinsey & Company Associate General Counsel yearly pay in the United States is approximately $261,236, which is 79% above the national average. Salary information comes from 1 data point collected directly from employees, users, and past and present job advertisements on Indeed in the past 24 months.

Should general counsel report to CEO?

GC should work closely with and guide the Board, sharing responsibility with the rest of the executive team to protect the company and the Board. GC should report to the CEO. By not reporting to the CEO, the GC may be too distant from the Board to be effective.

How to be a good GC?

How much do general counsels make in the Fortune 500?

The report, based on an analysis of the Equilar 500—the 500 largest U.S. companies by revenue—reveals that the median total compensation for General Counsel during the five-year period grew to $3.3 million in 2023, from $2.6 million in 2019.

Is general counsel prestigious?

General counsel positions are highly sought-after and involve a lot of responsibility, so those with the right mix of attributes generally land the best positions first. These personality traits include: Sound judgment and the ability to evaluate options fairly. Leadership and a visionary quality.

How hard is it to be a general counsel?

First, you must decide whether you are truly interested in the job. Being “the boss” sounds good, but being general counsel is a tough job and involves a lot of long hours — and a lot of pressure. You must make critical decisions with little time and sparse facts.

Why hire a general counsel?

Hiring a great general counsel fluent in the ins and outs of your company will also help you proactively identify issues and address them, instead of consulting an outside counsel only when something has gone wrong and risks mushrooming into a crisis.

What are the 4 law firms that GCs most hate to face in court?

Quinn Emanuel earns the coveted number 1 spot among the BTI Fearsome Foursome for the 3rd time in the last 4 years. This elite group of firms also includes Jones Day, Kirkland & Ellis, and Skadden. Of the 46 law firms clients don't want to litigate against — 4 standout as most Fearsome.

What keeps general counsel up at night?

“The thing that keeps every technology-focused general counsel and chief legal officer up at night is privacy and security,” says Irene Liu, chief legal officer of Hopin, a proprietary video teleconferencing platform.

What two conditions must be met to show that counsel was ineffective?

To prove ineffective assistance of counsel, a defendant must show: That their trial lawyer's conduct fell below an "objective standard of reasonableness" and, "a reasonable probability that, but for counsel's unprofessional errors,” the outcome of the criminal proceeding would have been different.

What does a GC actually do?

Gas chromatography (GC) is a common type of chromatography used in analytical chemistry for separating and analyzing compounds that can be vaporized without decomposition. Typical uses of GC include testing the purity of a particular substance, or separating the different components of a mixture.

How does a GC make money?

As a general contractor, you make your profit through markups. So, knowing how much to mark up your services is essential to increasing your revenue and maintaining your cash flow. If calculating markups is a part of your business that you struggle with, you've come to the right place.

What is a GC job?

A general contractor is responsible for hiring manpower and subcontractors—think of all the pieces to a home project puzzle: design, build, cabinetry, flooring, electrical, plumbing, etc. A good GC will have experience working with quality subcontractors who carry good reputations and are known for quality work.

Does GC report to COO?

However, not every GC needs to report directly to the CEO. Reporting to the CFO or COO can provide specific benefits, particularly for early-career GCs or those in finance-centric sectors. For GCs seeking to develop financial skills, a CFO reporting line can be valuable.

Should the CIO report to the CFO?

While the trend is moving toward CIOs reporting to CEOs, some still report to CFOs or COOs. This can sometimes limit the CIO's ability to influence broader business strategy and may indicate a company's less mature approach to leveraging technology.

Should general counsel attend board meetings?

Something a general counsel and the board have in common is to serve in the role of guardians over an organization. In that way, they must partner together for the good of the organization. In today's world, the GCs may collaborate with board members by attending board meetings regularly.

How much does Goldman Sachs pay general counsel?

Ruemmler received $16 million in total annual compensation during 2023, according to a March 15 proxy filing by Goldman, up from $12 million the year prior. The sum includes $8.7 million in performance-based restricted stock units, $5.8 million in cash, and a $1.5 million annual base salary.

What is a typical McKinsey salary?

McKinsey's salary for entry-level consultants in the United States likely ranges from $100,000 to $140,000 per year, while the figure for MBA-level/experienced Associates can be over $200,000.

Can lawyers work at McKinsey?

Our team is comprised of approximately 200 lawyers and legal professionals across nearly 50 countries who come to McKinsey from leading law firms and corporations.