What's Happening?
Above the Law is conducting a survey to update its compensation information for in-house law departments. The survey aims to collect data from both corporate counsel and legal operations professionals. This initiative is part of Above the Law's annual In-House Compensation Report, which has historically tracked corporate counsel pay. For the first time, the survey will include compensation information from legal operations professionals, expanding the scope of the report. Participants are encouraged to share their salary details anonymously, with the promise of valuable benchmarking information being shared later in the year.
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Why It's Important?
The survey conducted by Above the Law is significant as it provides insights into the compensation trends within the legal industry, particularly for in-house professionals. By including legal operations professionals, the survey acknowledges the growing importance of this role in corporate legal departments. The benchmarking data can help legal professionals understand their market value, negotiate better salaries, and make informed career decisions. Additionally, it can assist companies in setting competitive compensation packages to attract and retain top talent in their legal departments.
What's Next?
Once the survey is completed, Above the Law plans to compile the data and release the updated In-House Compensation Report later in the year. This report will provide detailed insights into salary trends and benchmarks for in-house legal professionals. Companies and individuals in the legal industry will likely use this information to assess and adjust their compensation strategies. The survey results may also prompt discussions on the evolving roles and responsibilities within legal departments, particularly concerning legal operations.
