Recovery in the legal industry is so bad that some law firms are resorting to using short-term debt to stay operational through the end of this year.
But in-house lawyers are singing a different tune.
Chief legal officers are raking in a base salary of $521,000— a five percent increase from last year — and the base salary for all in-house attorney levels is up 3.4 percent from last year, hovering at $183,800, according to The Wall Street Journal's Law Blog, citing a survey from HBR Consulting.
Bonuses for in-house lawyers are also up by about 3.4 percent.
“We are seeing healthy increases in in-house compensation at all lawyer levels, despite the challenging economic environment,” HBR's senior director and survey editor Lauren Chung told Law Blog.
But things aren't as rosy for corporate lawyers, whose recovery has basically stalled out >
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