When In-House Roles Win on Total Reward - How to Earn More as an In-House Lawyer
It used to be that private practice lawyers looking to move in-house were expected to take a pay cut in exchange for lifestyle perks and proximity to business decisions. But that assumption no longer holds true.
In sectors like private credit and high-growth asset management, in-house legal roles now offer total reward packages that often outstrip traditional firm compensation. We're seeing base salaries in line with Magic Circle benchmarks, topped with performance bonuses and—crucially—meaningful equity. The result? Some in-house legal professionals are out-earning their peers in private practice, with a more sustainable work-life balance to boot.
The driver behind this shift is strategic integration. Legal departments are no longer seen as reactive cost centres. They're proactive partners to the business. Companies want lawyers who understand deal dynamics, can navigate regulatory change, and mitigate risk before it materialises.
One HR Director at a fast-growing credit fund told me: "We're not hiring people to simply process paperwork. We want dealmakers who speak the language of investors and regulators alike. Our expectations of these people are the same as in a law firm, therefore we have to pay them the same."
From a recruitment perspective, this redefines the ideal candidate. CVs that showcase only technical expertise no longer suffice. Experience in cross-functional projects, exposure to compliance frameworks, and an aptitude for commercial thinking are what get shortlisted.
It also means that recruiters need to broaden their pitch. It's no longer about “giving up” the prestige of private practice. It’s about positioning the move as a strategic career evolution.
Takeaways:
In-house roles, especially in growth sectors like private credit, now compete head-on with private practice on pay.
Candidates with both transactional and compliance experience are especially sought after.
Recruiters should position in-house roles as business leadership opportunities, not just lifestyle choices.