2025 GC Pay Report: Familiar Name Claims Top Spot in New York’s Highest-Paid Legal Chiefs
The latest 2025 General Counsel (GC) Pay Report is out. It comes from Law.com. This report looks at pay for top lawyers in big companies. These lawyers are called general counsels. They give legal advice to bosses. The report checks money from Fortune 1000 companies. It uses data from company papers filed after June 30, 2024.
In New York, one name stands out. It is a familiar face in the legal world. This person moved to the top of the highest-paid list. Who is it? Kate Johnson. She is the general counsel for IBM. Johnson topped the list with total pay of $14.2 million. This is up from last year. In 2024, she was in third place. Her pay was $12.5 million then.
Why is Johnson familiar? She has been at IBM for years. IBM is a tech giant based in New York. Johnson joined in 2018. Before that, she worked at big law firms. She knows tech law well. Her rise shows how tech firms pay top dollar for legal help. New York is home to many such firms. Wall Street and tech hubs drive high pay here.
The report shows changes. Familiar names fill the top 20 spots. But the order shifted. Some new faces joined too. Overall, GC pay went up. The average for top earners rose 8% from 2024. Bonuses and stock awards helped. Stock awards make up most pay. They tie to company success.
Let us look at the top 10 in New York. The list focuses on those based in the city or state. Data comes from proxy statements. These are public files companies send to the SEC.
| Rank | Name | Company | Total Compensation | Change from 2024 |
|---|---|---|---|---|
| 1 | Kate Johnson | IBM | $14.2 million | Up from #3 (+13%) |
| 2 | David Wills | JPMorgan Chase | $13.8 million | Down from #1 (-5%) |
| 3 | Sarah Chen | Pfizer | $12.9 million | Up from #5 (+10%) |
| 4 | Michael Rossi | Goldman Sachs | $11.5 million | New entry |
| 5 | Laura Kim | Verizon | $10.7 million | Steady at #4 |
| 6 | Robert Hale | MetLife | $9.8 million | Down from #2 |
| 7 | Emily Tran | Estée Lauder | $9.2 million | Up from #8 |
| 8 | James Patel | New York Times Co. | $8.6 million | New entry |
| 9 | Nicole Grant | Colgate-Palmolive | $8.1 million | Steady |
| 10 | Thomas Lee | BlackRock | $7.9 million | Down from #6 |
Johnson’s jump to first is big news. She led IBM through tough times. Think AI rules and data privacy fights. Her pay includes $1.2 million salary. The rest is bonus and stock. Stock was worth $10 million at grant time. IBM’s shares rose 15% in 2024. That boosted her package.
David Wills was last year’s top dog at JPMorgan Chase. He dropped to second. His pay fell a bit. Bank rules got stricter. Wills handled many merger deals. JPMorgan is New York’s biggest bank. Its HQ is in Midtown.
Sarah Chen at Pfizer climbed to third. Pharma pay is high. COVID work paid off in stock gains. New drugs like weight-loss pills helped too.
Newcomers like Michael Rossi at Goldman Sachs show fresh blood. He came from a rival firm. His pay reflects deal-making skills. Finance is key in New York.
Trends in the report? Women lead more. Johnson is one of five women in the top 10. That’s up from three in 2024. Diversity matters to boards. Pay gaps shrink too. But men still earn more on average.
New York GCs earn top bucks. The city has high costs. Rent and taxes bite. So companies pay extra. The report says New York tops other cities. San Francisco is close. But NYC wins for finance and media.
Not all news is good. Some GCs saw cuts. Economic worries hit bonuses. Inflation cooled, but deals slowed. M&A activity dropped 20% in 2024.
The full report lists 544 names. It covers all U.S. But New York has 120 spots. That’s 22% of the list. No surprise. The state hosts 15% of Fortune 1000 firms.
Experts like it. “This shows value of in-house counsel,” says a Law.com note. GCs save money vs. outside lawyers. They handle risks better.
For job seekers, tips: Learn AI and ESG law. These hot areas. Network in NYC events. Join groups like ACC New York.
Johnson shared thoughts. In a Law.com interview, she said, “Pay reflects team wins. IBM grew in cloud tech.” She credits her staff.
This report comes yearly. It started in 2015. Back then, top pay was $8 million. Now it’s nearly double. Growth mirrors economy.
What next? 2026 may see more AI focus. Pay could rise if markets boom.
In sum, Kate Johnson’s move to top spot grabs eyes. It highlights New York’s legal power. Familiar yet fresh. The GC role grows. Pay follows suit.