Corporate Counsel Career Guide

What is a corporate counsel?

A corporate counsel is basically a lawyer who works for a company instead of working at a law firm. Their job is to give advice on all the legal stuff that companies have to deal with, like following laws and making sure the company doesn’t get into legal trouble. They try to handle most of this stuff themselves so the company doesn’t have to spend extra money on hiring outside lawyers.

Duties and responsibilities

The main job of a corporate counsel is to help the company with legal things. This includes:

• Writing, checking, and agreeing on contracts and other important documents
• Handling legal disputes and figuring out the best strategies to deal with them, sometimes with the help of outside lawyers
• Giving advice on how the company should be run legally and ethically, which helps in making policies that fit the law
• They might also deal with employee-related legal issues or give advice on things like patents or environmental laws depending on what the company needs

Work environment

Corporate counsels usually work in an office at the company’s main building. Their day might be packed with meetings, both in person and online. Sometimes, they need to travel for work, like going to courts or meeting with other important people outside the company.

Typical work hours

Corporate counsels usually work regular business hours, but sometimes they have to work more, like evenings or weekends, especially if there’s a big legal issue or a tight deadline. The job can get really busy, but it’s crucial for keeping the company safe and on track legally.

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How to become a corporate counsel

Want to be a corporate counsel? It’s a big job where you get to be a lawyer for a company, helping them with all their legal stuff. Here’s what you need to do to get there:

Step 1: Get a college degree

First up, you need to graduate from college with a bachelor’s degree. You can choose any major, but subjects like English, political science, or business are great because they teach you how to think critically and communicate well.

Step 2: Go to law school

Next, you need to go to law school for three years. Make sure the school is approved by the American Bar Association. Law school will teach you all about U.S. law, including things like contracts and how courts work.

Step 3: Pass the bar exam

After law school, you have to pass the bar exam in the state where you want to work. This test is tough and takes two days, but it’s necessary to show you know your stuff.

Step 4: Gain some real lawyer experience

Once you’ve passed the bar, start working to get some real-world experience. You could work at a law firm, a government agency, or a nonprofit. This step is all about learning how to handle real legal problems.

Step 5: Learn lots about corporate law

Corporate law is its own beast, so it’s a good idea to specialize in it. You can focus on this area in law school, take extra courses after you graduate, or get a job at a law firm that deals with business issues.

Step 6: Land a job

Finally, after all that learning and working, you’re ready to apply for jobs as a corporate counsel. You can find these jobs at big international companies or even smaller startups.

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How much do corporate counsel make?

There are many variables that go into determining how much a corporate counsel makes, from company size to experience to education, just to name a few. 

Highest paying industries

• Cable and Other Subscription Programming: $249,310
• Securities and Commodity Exchanges: $242,370
• Software Publishers: $229,180
• Computer and Peripheral Equipment Manufacturing: $227,140
• Monetary Authorities: $220,780

Highest paying states

Browse corporate counsel salary data by market

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Types of corporate counsel

Being a corporate counsel can mean different things depending on what kind of legal stuff you like to deal with. Here are a few types you might become:

General counsel

Think of general counsels as the all-around players. They know a lot about different parts of business law and give advice to help the company make big decisions. They have to understand how laws affect the company’s strategy and help keep things running smoothly.

Corporate transactions

These lawyers are the deal-makers. They handle contracts and make sure all the company’s deals, like partnerships or buying other companies, are done right and legally. They need to be super careful and pay attention to every little detail.

Corporate compliance

Compliance lawyers make sure the company follows all the rules. There are tons of laws that companies need to stick to, and these lawyers help them not to step out of line. They come up with plans to handle legal problems before they get serious.

Intellectual property

IP lawyers are the protectors of a company’s creative stuff—like inventions, logos, and original works. They deal with patents and copyrights to make sure no one else can steal or copy the company’s ideas. They play a huge role in keeping the company’s unique products and services safe.

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Top skills for corporate counsels

If you’re thinking about becoming a corporate counsel, here are some essential skills you’ll need to succeed in the job:

Sound legal knowledge

As a corporate counsel, you need to know the law inside and out. You’ll be the company’s go-to person for making sure everything it does is legally sound. This means understanding all the laws that can affect the business, from contracts to court cases, and giving the right advice to avoid legal trouble.

Negotiation skills

Being good at making deals is crucial. You’ll often have to work out terms on contracts and agreements to make sure the company gets the best possible outcome. This means being able to talk things through, find common ground, and come up with solutions that work for everyone, all while keeping it professional.

Problem-solving abilities

These lawyers need to be quick on their feet with a knack for solving problems. When legal issues pop up, you’ll have to think fast, predict what might happen next, and figure out the best way to handle it. Balancing what the company needs with staying within the law is a big part of the job.

Ethical integrity

Staying true to your moral compass is non-negotiable. You’ll face lots of situations where you have to stand firm on what’s right, even when it’s tough. Keeping your integrity helps build trust and keeps the company on the right path.

Relationship-building

You need to be a people person, too. Building strong relationships with everyone from team members to other business partners is key. Good relationships can make your job easier and help protect the company legally in many ways.

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Corporate counsel career path

If you’re considering a career as a corporate counsel, there are several ways you can grow and move up in your career:

Step up to senior corporate counsel

After gaining experience and proving you’re good at your job, you might become a senior corporate counsel. In this role, you’ll handle bigger projects and have more responsibility, like leading a team of younger lawyers. You’ll also work closely with the top bosses of the company, giving advice that helps shape the company’s legal strategies.

Specialize in a specific area

If you’re really good at a particular part of law, like mergers and acquisitions, you might specialize and become something like an M&A counsel. This means you’ll focus just on that area, becoming an expert and working deeply on those kinds of deals.

Become the general counsel or chief legal officer

The big goal for many is to become the general counsel or chief legal officer of a company. This is the top lawyer who oversees all of the company’s legal stuff and works with the CEO and other top leaders. It’s a big role with a lot of influence on the company’s overall strategy.

Switch to private practice

Some decide to leave their in-house jobs and join law firms instead. As a partner in a law firm specializing in corporate law, you could potentially earn more money and work with a variety of clients on different projects.

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Similar job titles

• Bankruptcy Attorney
• Estate Planning Attorney
• Family Attorney
• Intellectual Property Attorney
• Labor Attorney
• Medical Malpractice Attorney
• Personal Injury Attorney
• Real Estate Attorney
• Tax Attorney

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Corporate counsel position trends and outlook

• Changing role: Thanks to all the new technology and changes in how companies work, corporate counsels are doing a lot more than just legal stuff. They’re now key players in making big business decisions, advising on everything from regular company operations to major strategic moves.
• Working from anywhere: A lot of these lawyers are working remotely now, which means they have to be really good at communicating online and making sure all the company’s private information stays safe. This shift has made their role even more crucial.
• Caring about more than just profits: There’s also a big focus now on issues like the environment, society, and how companies are run (often called ESG for environmental, social, and governance). Corporate counsels help companies make sure they’re doing things that are good for the world, not just good for their wallets.

Employment projections

According to the U.S. Bureau of Labor Statistics, the demand for lawyers, including corporate counsels, is expected to grow by 10% through 2031. This is faster than the average for all jobs. More companies need legal help with things like healthcare, environmental laws, and privacy rights, so there are going to be a lot of opportunities for new corporate counsels.

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Corporate counsel career tips

Keep learning

Laws and business practices change all the time, so it’s important to keep learning. Stay sharp by:

• Keeping up with new laws and important court decisions that affect your company
• Reading law journals, checking out legal podcasts, and following news that impacts your industry
• Going to seminars and webinars about corporate law to stay on top of your game

Understand business inside out

You’re not just a legal expert—you’re part of the business team. Get a good grip on:

• Business strategy and how money flows in and out of your company
• How different parts of your business work together and affect each other
• Jumping into project planning early to help spot potential legal issues before they become big problems

Talk the talk

You’ll need to explain legal stuff to people who aren’t lawyers, so:

• Keep it simple; break down complex legal terms into plain language
• Make sure everyone understands the legal side of decisions, which can help avoid problems down the road

Build your network

Knowing other professionals can really help. Join groups like:

• American Bar Association (ABA)
• Association of Corporate Counsel (ACC)
• International Bar Association (IBA)
• American Corporate Counsel Association (ACA)

Get certified

Show you’re serious about your career by getting certifications in special areas like contracts or intellectual property. Certifications show you’re skilled and committed to being the best corporate counsel you can be.

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FAQs