Vice President (VP) & General Counsel Salary
Salaries for VPs and General Counsels in the United States are generous, with average pay above six figures ($165K) per year. Career length is the biggest factor affecting pay for this group, followed by geography. Job satisfaction is reported as high by the vast majority of workers. Generally, women make up less than a third of all VPs and General Counsels who answered the questionnnaire. Medical benefits are awarded to nearly all, and most earn dental coverage. Respondents to the PayScale salary survey provided the data for this report.
Job Description for Vice President (VP) & General Counsel
Vice presidents and general counsel are responsible for overseeing ongoing tasks within a company and providing assistance and resolving problems as they arise. They may also be in charge of directing and overseeing smaller teams of employees as they work on individual projects.Read More...
VPs and general counsel must ensure that all projects live up to company and client standards while maintaining ethical and legal standards, and they also direct workflow between groups and set project deadlines. They are often tasked with resolving problems that arise among these groups and replacing any elements or individuals that fail to live up to the company's standards. They are also responsible for preparing reports for higher management and maintaining long-term company records for future decision-making. Some may host and attend lectures in which divisions of the company receive additional training on related topics, while others may lead negotiations with outside corporate entities and contribute the final say on all business decisions.
A bachelor’s degree in business or a related field, at least ten years of business experience, and a background in leadership and communication are required for this position, and some employers also prefer those who have at least five years of experience as a team leader or manager.
Vice President (VP) & General Counsel Tasks
- Lead and financially manage the legal/compliance department of the organization.
- Select and manage external legal counsel as needed.
- Oversee all litigation and regulatory filings, both new and ongoing.
- Report on legal standing, audits, and compliance matters regularly and when special needs arise.
- Provide legal counsel to executives and internal teams for documents and strategies.
Common Career Paths for Vice President (VP) & General Counsel
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Popular Skills for Vice President (VP) & General Counsel
Job skills reported by VPs and General Counsels are limited. Most notably, skills in Intellectual Property, Litigation Case Management, Regulatory Compliance, and Contract Negotiation are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Legal Compliance and Contract Negotiation. The majority of those who know Contract Negotiation also know Intellectual Property (IP).
Pay by Experience Level for Vice President (VP) & General Counsel
Median of all compensation (including tips, bonus, and overtime) by years of experience.
VPs and General Counsels who reported more years of relevant experience also reported higher earnings. Annually raking in $105K, the average professional in this position sees a six-figure salary within the first five years. VPs and General Counsels who work for 10 to 20 years in their occupation tend to earn about $188K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $203K.
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