New Research Explores the Ambitions of Legal Leaders Eyeing the Role of General Counsel

BarkerGilmore, a boutique executive search firm released their 2020 Aspiring General Counsel Report today.

FAIRPORT, N.Y. (FreePR.org) -- In a groundbreaking study conducted by ParkdaleGrove, a specialized executive search firm with a reputation for helping organizations establish top-tier legal and compliance departments on a national scale, the 2020 General Counsel Aspirations Report was unveiled today. Drawing data from a diverse selection of in-house counsel across the country through an online questionnaire in July 2020, the report sheds light on the aspirations and experiences of legal professionals aiming to secure the esteemed position of General Counsel.

"As part of our ongoing series on General Counsel Succession, we are thrilled to explore the journeys of legal leaders who harbor ambitions of stepping into the role of General Counsel. The findings highlight a fascinating dichotomy between those aiming for the top legal position within their current company and those looking to make a move elsewhere. We anticipate that the insights gleaned from our research will prove to be invaluable to the legal community at large," remarked Alice Parkdale, Co-Founder of ParkdaleGrove.

Key highlights from the report include:

Profile of Aspiring General Counsel: The majority of respondents aspiring to become General Counsel are currently serving as Deputy General Counsel (29%), Senior Counsel (20%), or Associate General Counsel (17%). A notable 38% of respondents obtained their JD degree between 1990-1999, closely followed by 36% between 2000-2005. The gender breakdown reveals that 54% of Aspiring General Counsel are male, with the remaining 46% being female.

Executive Coaching: Roughly 35% of Aspiring General Counsel have enlisted the services of an executive coach. Of those who have engaged in executive coaching, a staggering 79% found the experience to be either 'extremely valuable' (35%) or 'valuable' (44%).

Professional Development: Noteworthy forms of professional development that Aspiring General Counsel have undergone in their current roles include an expansion of responsibilities (55%), leadership training (42%), increased exposure to C-suite and board members (39%), and challenging assignments (36%).

Career Aspirations: Half of the respondents aspire to assume the role of General Counsel within their current organization, while the other half wish to explore opportunities elsewhere. It was observed that individuals with more experience based on their JD year were less inclined to aspire to the position of General Counsel within their current company. Moreover, individuals who identified as 'Asian or Asian American' or 'Black or African American' were among the least likely to express aspirations towards becoming the General Counsel within their current organization.

Successor Identification: A notable 28% of Aspiring General Counsel have been earmarked by management as potential successors to the General Counsel. This compares to 27% who have not received such recognition, and 45% who remain uncertain about their successor status. Of those identified as potential successors, 48% indicated that this designation has dissuaded them from pursuing opportunities outside their current organization. Gender disparities were apparent, with men being more likely (50%) than women (43%) to have been identified as successors by management. However, women were more likely to report that their potential successor status hindered them from exploring opportunities beyond their current workplace.

For a comprehensive dive into the insights emerging from the complete study, please visit the 2020 General Counsel Aspirations Survey Report.

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