Could you please let me know the top GC compensation packages in India (including bonus and, if applicable, the annual amounts subject to long term incentive plans/ equity grants/ LP interests etc.).
It would be great to get a sense of the best compensation packages of GCs of listed companies (these I assume would be publicly available in the companies annual reports)? In addition, please also provide the top compensation packages of the regional India/ South Asia legal heads of the top financial investors (e.g. Blackstone, Sequoia etc.) as well as those of the top investment banks (Goldman, JP Morgan, Morgan Stanley). Thank you.
An in-house Head of legal ( US listed MNC) I know in late 30s is making 1.5 cr in cash and vested RSU ( as good as cash ) a year. He works ( as in emails , meetings , calls , essential reading , team building , performance evaluation etc ) 200 days ( approx 900- 1100 hours) a year. Never works weekends and has no revenue pressures. In non covid years flys company paid business class twice to US for global department meetings and stays additional week or so holidaying with family. Pretty decent life!
Cash can be as high 1-2 crores a year (I know people making 16 lakhs a month just as cash). Apart from that. there's variable, which can be 10-50% of overall CTC.
RSUs/ ESOPs/ equity is also a large part of this. People who worked in Amazon/ Flipkart/ Google early on have had years where they take home several crores.
Thanks. Is the Bharti Airtel GC compensation package the highest in the listed company world? Is there any other company (whether listed or not) that offers a better package?
How do you even get the motivation to continue working once you have earned so much in 5 years. Guessing there would be clawback clauses which would force one to stay for at least 5-10 years.
To add, he is pulling 3 CR at the age of around 65 with 40+ years of experience. While the numbers may be high, the age factor also needs to be considered in case you are solely comparing between law firms and in-house on a monetary basis.
And he quit in a year to join Games 24X7 as CLO. Makes me wonder if there are certain in-house positions (like CLO, etc.) that pay even more than law firms.
It would be great to get a sense of the best compensation packages of GCs of listed companies (these I assume would be publicly available in the companies annual reports)? In addition, please also provide the top compensation packages of the regional India/ South Asia legal heads of the top financial investors (e.g. Blackstone, Sequoia etc.) as well as those of the top investment banks (Goldman, JP Morgan, Morgan Stanley). Thank you.
Industry does not work like that. Cash component can be as low as 70% of the CTC.
So for a 1 Cr pulling boss, the cash component is 70L.
Out of that 70L, the split can be 55L+15L.
Out if that 55L, you get 40L post TDS. So, a 1 Cr package gets you 3.3L in your bank every month.
RSUs/ ESOPs/ equity is also a large part of this. People who worked in Amazon/ Flipkart/ Google early on have had years where they take home several crores.
Bharti Airtel GC at INR 3 cr in FY 19-20. Pretty sure data for other listed companies can also be found.
In order to find out this data follow these steps:
1. This is the list of BSE 30 companies - https://www.samco.in/knowledge-center/articles/sensex-companies/
2. Go to Google
3. Google – (name of the listed company) section 197 filing
4. You will get links to annual reports. Open it and search the doc for general counsel or 197.
5. For e.g. found this on googling - ITC limited section 197 filing
https://www.itcportal.com/about-itc/shareholder-value/annual-reports/itc-annual-report-2019/pdf/ITC-Report-and-Accounts-2019.pdf
ITC GC in 2019 was making around 2.19 crores
How do you even get the motivation to continue working once you have earned so much in 5 years. Guessing there would be clawback clauses which would force one to stay for at least 5-10 years.