As we’ve done in the past, we offer our commentary on certain prominent GCs on the list (the numerical ranks reflect where they appear on the Corporate Counsel top 100, which is based on 2012 cash compensation):
#1 – Brackett Denniston (GE): As noted by Corporate Counsel, Denniston returned to the list after being gone for three years. Total take-home pay: $12.9 million.
#2 – Louis Briskman (CBS): He fell out of the top spot, but don’t feel bad for him. Total take-home pay: $24.9 million.
#3 – Gary Lynch (Bank of America): BofA has lots of legal issues, and Lynch is paid well to deal with them. But his total take-home pay, at $6.3 million, is smaller than that of several other lawyers on the list.
#4 – Paul Cappuccio (Time Warner): A fixture in the top ten, the former Kirkland partner and former law clerk to Justice Scalia and Chief Judge Kozinski racked up $8.3 million in total take-home pay.
#7 – Marc Firestone (Philip Morris International): Firestone replaced David Bernick as GC of PMI. How did a new GC wind up so high on the list? “To compensate him for amounts lost upon leaving his prior employer [Kraft Foods Inc.], Mr. Firestone received a hiring sign-on bonus that comprised a cash amount of $250,000 and a stock award of $5,412,373.”
#8 – J. Michael Luttig (Boeing): Sure, John Roberts and Samuel Alito might have beaten out this former Fourth Circuit judge for seats on the Supreme Court. But what Luttig earned last year alone — $10.7 million in total take-home pay — exceeds the combined net worths of JGR and SAA.
#13 – Gerson Zweifach (News Corp.): The former Williams & Connolly partner, new to the list for this year, got handsomely compensated for cleaning up Rupert Murdoch’s messes. Total take-home pay: $2.8 million.
#23 – Amy Schulman (Pfizer): This leading litigatrix and former DLA Piper partner slipped slightly in the rankings this year, from #21 to #23, but still took home $2.3 million.
#30 – Denise Keane (Altria Group): The top earner in the 2011 rankings, Keane fell a little in rank again this year, from #27 to #30. But her total take-home pay actually increased, from $2.9 million to $4.5 million.
The table below shows the top ten best-paid general counsel for 2013, according to Corporate Counsel. They are ranked based on total cash compensation for 2012, which includes salary and bonus compensation but does not reflect stock options exercised or stock value realized.
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(This great sortable list provides information on many different forms of compensation for 388 general counsel in the Fortune 1000. But Corporate Counsel’s top 100 ranking is based on cash compensation, not total take-home pay or any other metric.)
Congratulations to these worthy and well-compensated general counsel. In-house life has many advantages, and at least for those at the top, you don’t have to suffer financially to enjoy them.
The 2013 GC Compensation Survey: Analysis [Corporate Counsel]
The 2013 GC Compensation Survey: Rankings Table [Corporate Counsel]
The 2013 GC Compensation Survey: Fortune 1000 Sortable List [Corporate Counsel]
The 2013 GC Compensation Survey: Nos. 101-180 [Corporate Counsel]
The 2013 GC Compensation Survey: Methodology [Corporate Counsel]
Earlier: Who Are America’s Best-Paid General Counsel? (2012 Rankings)
Who Are America’s Best-Paid General Counsel? (2011 Rankings)
The Highest-Paid General Counsel (Kind of)