Vice President (VP) & General Counsel Salary
Compensation for VPs and General Counsels in the United States is generous, with average pay surpassing six figures annually ($166K). Career duration and the particular city each impact pay for this group, with the former having the largest influence. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Job satisfaction for VPs and General Counsels is high. Making up 71 percent of those who took the survey, male VPs and General Counsels greatly outnumber their female counterparts.
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.
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Popular Skills for Vice President (VP) & General Counsel
VPs and General Counsels only report a few specific skills. 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. Most people 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.
Experience is an important factor influencing the compensation of VPs and General Counsels. Large paychecks, which sit comfortably in the six-figure range, are handed out almost immediately; professionals who have less than five years' experience report earning a median of $108K per year. VPs and General Counsels bring in $185K after working for 10 to 20 years. VPs and General Counsels with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $202K.
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Key Stats for Vice President (VP) & General Counsel
Rated 5 out of 5
based on 11 votes.