CCI staff share recent surveys, reports and analysis on risk, compliance, governance, infosec and leadership issues. Share details of your survey with us: editor@corporatecomplianceinsights.com.
General counsel compensation rises 21% over 5 years
Median general counsel compensation at major US companies rose about 21% from $2.8 million in 2020 to $3.4 million in 2024, according to new research from Equilar and BarkerGilmore. The Equilar analysis of 161 disclosed general counsel among the 500 largest US public companies by revenue found that performance incentives remained the largest component of compensation packages at 35% of total pay.
The steady compensation growth reflects the expanding strategic importance of the general counsel role beyond traditional legal oversight. Performance incentives, the largest pay component, increased 12% from $897,000 in 2020 to $1,003,800 in 2024. Base salary showed the most consistent growth over the study period, rising 8% from $622,400 to $671,400.
Compensation patterns varied significantly by sector in 2024, with six sectors experiencing declines while four saw gains. Utilities stood out as the only sector showing consistent growth since 2020, increasing 21% over the study period and 11% from 2023 alone. Financial services companies allocated the highest share of pay to performance incentives at 48%, while consumer cyclical companies had the largest stock award component at 39%.
Other key findings:
- The CEO-to-general counsel pay ratio widened to 5 in 2024 from 4.2 in 2020.
- General counsel with 11 to 15 years of tenure earned the highest median compensation at $3.6 million, while those with more than 20 years of service had the lowest at $2.6 million.
- Women general counsel earned a median of $3.6 million in 2024 — 8.1% higher than the $3.4 million median for men, marking the third consecutive year women have outpaced men in compensation.
- The number of disclosed general counsel declined slightly from 166 in 2020 to 161 in 2024, while women’s representation fell from 34.9% to 33.5%.
John Gilmore, managing partner at executive search firm BarkerGilmore, noted that companies increasingly view general counsel as strategic partners rather than just legal advisors.
“The most effective leaders demonstrate gravitas, which is the executive presence, judgment and influence that earns trust in the boardroom,” Gilmore said in commentary included in the report.
Cyber insurance claims severity drops 50% as large companies strengthen defenses
Large companies are gaining ground against cyber attackers with claim severity declining 50% and large claims frequency dropping 30% during the first half of 2025, according to new analysis from global insurer Allianz Commercial. The improvements reflect cumulative investments by major corporations in cybersecurity, detection and response capabilities that help contain attacks before they cause extensive damage.
Despite the progress among large insureds, ransomware remains the biggest threat, accounting for 60% of the value of large cyber claims. The evolving attack landscape has also shifted toward smaller companies that lack the robust defenses of multinational corporations. Ransomware was involved in 88% of data breaches at small and medium firms compared to 39% at large firms, according to Verizon data cited in the analysis.
The overall cyber threat environment continues to intensify, with Allianz Commercial processing around 300 claims notifications during the first half of 2025 — matching activity from the previous year. The insurer expects total cyber claims to remain stable at around 700 for the full year, with seasonal increases anticipated from Black Friday through year-end.
Other key findings:
- Data exfiltration is becoming more common, with 40% of large cyber claims in the first half of 2025 including data theft, up from 25% for all of 2024.
- Retail has entered the top three most impacted industries by claim value over the past five years, accounting for 9% of claims after manufacturing (33%) and professional services (18%).
- Non-attack incidents like wrongful data collection and technical failures accounted for a record 28% of large claims by value during 2024.
- Business interruption accounts for over 50% of cyber claim values, making continuity planning critical for minimizing losses.
“Every step an attacker progresses, and every minute that they are in the system, the impact goes up exponentially,” said Michael Daum, global head of cyber claims at Allianz Commercial. “The cost of a ransomware attack that progresses to data theft and encryption can be 1,000 times higher than an incident that is detected and contained early.”
