Closing the gap? New data show some women GCs making more than male counterparts

For the first time, certain groups of women in general counsel positions are being compensated more than their male counterparts.

That’s according to a survey released by the Association of Corporate Counsel, which found that racial and ethnic minority women reported higher median total cash compensation than their peers for the first time, and that nonminority women in multilawyer departments reported the highest median compensation of any group.

“ACC’s compensation survey represents a large cross-section of companies in the U.S. and for the first-time shows that non-minority women who achieve the coveted GC spot in multi-lawyer departments are among the highest paid and compensation levels for women of color general counsel exceeded their peers for the first time in the history of ACC’s compensation surveys,” Veta T. Richardson, president and CEO at the Association of Corporate Counsel, said in a statement announcing the survey.

According to the ACC’s 2023 Law Department Compensation Survey, minority women reported a median total cash compensation of $325,000 — 8% higher than their peers.

Women in multilawyer departments reported earning 19.5% more than men and only 3% less than men in single lawyer departments. Also, nonminority women in multilawyer departments reported earning about 36% more than both men and minority women, and more than 50% higher than minority men.

Minority women reported earning 19% more than nonminority men in single-
lawyer departments.

“I absolutely feel confident that we as women have a seat at the table and we have a voice and a very loud one,” Megan Long, senior corporate counsel at Salesforce, said. “I think what we can continue to improve upon is instilling confidence in women — instilling the confidence that they are accepted for who they are and they do have a voice and their opinion and their perspective is valuable.”

Getting the gig

Long admitted she was surprised by the findings in the ACC report.

“But I think it’s good news,” she said. “It’s good that we’ve trended in that direction. I think we need to kind of have some stability with the quality and pay there.”

Long worked in the corporate world before matriculating at Indiana University Robert H. McKinney School of Law. Her goal was to go into criminal law, and she even did an internship in prosecution.

But upon graduation, Long ended up in private practice, where she did civil defense work. She said she enjoyed being in the courtroom for a few years, but she ultimately decided to make the transition to in-house work.

“I really liked the idea of cross-functional collaboration, getting to work with other groups and teams within a business organization” she said of her decision to go in-house.

Long was in-house at Stanley Security for a few years before becoming senior corporate counsel at Salesforce, where she leads a team of lawyers and contract negotiators.

“I will frequently have direct communication with our customers and even internally, a lot of my internal clients are our sales teams. And so building the relationships with the sales teams and their leaders, those are really the things I thrive on are those relationships and being a part of a team that gets a deal across the finish line,” she said. “That’s very rewarding. And I like that no two days look the same. It’s something different every day. So the challenge of that is exciting.”

Fernanda Beraldi, general counsel, secretary and compliance officer with Aurorium, said she always knew she wanted to work in-house. Her career also includes corporate counsel roles with Cummins Inc. and Inotiv.

“I was told a few times that it would be really hard for me to get, and for me, when I hear that, it’s kind of like a carrot; I’m more enticed,” Beraldi said. “I think it’s about knowing how to position your skills and market not only being good at what you do, being good on paper, but also being able to demonstrate those skills and not being afraid of demonstrating them when you’re going through your interview.”

Beraldi said many women can be timid when talking about her skills, although she was not.

“Women usually don’t apply for roles where they don’t match exactly the requirements of the role, versus men usually take more chances,” she said.

Long opined that the recent emphasis on pay transparency may be a driving factor in the changing dynamics between male and female GC pay.

In her experience, Beraldi said she knows some women are less likely to negotiate for a higher salary, perhaps out of the fear of sounding greedy or overly ambitious.

“Which, for women, those are very bad perceptions, right? I mean, an ‘ambitious woman’ — when I say to you, ‘She’s ambitious,’ that vision you have is different than you have of a guy. It’s just the way we are wired. It’s common bias,” she said. “I think people are learning that that kind of ambition and knowing your value, knowing how to negotiate, is something that has people more aware of the gender gap and saying, ‘OK, I’m probably getting a little lower salary here, so I’m going to negotiate it up.’”

For some companies, finding general counsel is about more than just legal skills, Beraldi said.

“A few companies nowadays, they want not only a really good lawyer for their general counsel, they want a person that’s ingrained in the community and has demonstrated a willingness to embrace things around them and change them and will take up the challenge,” she said, “and the more you are out there doing those things, the more visible you become.”

‘The devil is always in the details’

Despite the shifting compensation dynamics shown in the report, the ACC recognized that its survey is based on responses from 445 general counsel throughout the United States, and that it’s a one-year snapshot of the state of pay.

“These survey results suggest that progress is being made to address the long-time gender pay gap,” Richardson, ACC president and CEO, said in a statement. “I celebrate these women whose ability, leadership, and awareness have enabled them to achieve the role of general counsel and negotiate higher compensation. I am pleased to see that their compensation levels are rising to reflect the value they bring.

“But the devil is always in the details and one year’s data cannot be interpreted to mean the gender pay gap has been completely eliminated, especially for positions below the GC level and when compensation for minority male GCs so significantly falls below all others,” Richardson continued. “However, it is good news that we’re seeing some progress and I look forward to the day when discussions about pay disparity are no longer necessary.”•