Many people have an inaccurate understanding of what lawyers make; in reality, the amount can differ considerably depending on your specialty and experience.
Earning potential is also dependent upon the size and location of the law firm you work at, while being employed at one of the top law schools can further increase earnings potential.
1. John Finley
John Finley is the Chief Legal Officer for Blackstone, a hedge fund management company which was recently recognized as number 1 on Fortune 2022’s list of highest-paying lawyers. His total compensation exceeds $22.2 Million.
Prior to joining Blackstone, Finley served as Fox News svp of development where he helped launch numerous primetime shows, such as Sean Hannity Show and Greg Gutfeld Show, alongside Life Liberty & Levin hosted by Mark Levin and coverage of 2016 presidential election coverage on Fox.
Finley earned both his undergraduate and law degrees at Culver Military Academy, later graduating with an LLB from the University of Michigan. He served on the American Civil Liberties Union board, Stanford Law Review, and has an extensive track record advocating on behalf of victims of sexual assault and domestic violence – even helping to draft state and national public policies for ValorUS coalition in California; also helping pass federal reauthorization of Violence Against Women Act legislation.
Top-paid attorneys tend to work at large law firms as partners or senior associates. Most biglaw firms follow the Cravath scale for setting associate salary levels; this system was devised by New York firm Cravath, Swaine & Moore but some top-tier firms have their own compensation structures for first-year associates that may vary from those at Cravath.
2. Kathryn King Sudol
Kathryn King Sudol, partner at Simpson Thacher & Bartlett LLP who heads its global co-head of mergers and acquisitions practice group, will leave to join private equity giant KKR as its general counsel. She will replace David Sorkin who will transition into becoming chief legal officer before transitioning into an advisory partner role before transitioning out by Q1 2023 according to an official KKR statement.
Sudol is widely recognized for her expertise in mergers and acquisitions (M&A). As one of the world’s premier corporate lawyers by Chambers and Legal 500 legal guides, she advises public and private equity clients on complex deals like leveraged buyouts, minority and strategic investments, going-private transactions and joint ventures. Sudol has advised Alibaba Group, BlackRock Asset Management LLC (BlackRock), Cerberus Partners and Hellman & Friedman among many others.
Sudol was appointed to KKR effective Sept. 6, according to their filing with the SEC, and she earned $18.6 million in total cash compensation that year, placing her fourth in New York behind Blackstone GC Finley (Goldman Sachs Kathryn Ruemmler), Fox Corp GC Viet Dinh and Blackstone’s Finley who took home $22.2 million total compensation during 2022.
3. John Finley
Finley has held positions at multiple law firms. He graduated with honors from Wharton School at University of Pennsylvania and Harvard Law School respectively; now serving as Chief Legal Officer for Blackstone as well as being part of their Management Committee.
John Finley was terminated after a woman claimed that he sexually harassed and stalked her, according to Mediaite. A settlement agreement has since been reached between John and the victim for an undisclosed amount, Mediaite reported.
He served as Senior Vice President of Development for Fox News Network, helping launch shows including Sean Hannity’s The Next Revolution and Mark Levin-led Life Liberty & Levin as well as taking an integral part in planning its 2016 presidential and gubernatorial town hall debates.
Finley ranks second highest-paid legal executive in New York City with total compensation of $22.2 million, just ahead of Kathryn King Sudol of KKR Legal Department who made $18.6 million that same year. Financial leaders dominate this year’s list; all five top earners make millions working at investment banking, private equity or hedge funds while legal heads from insurance and media industries also feature prominently.
4. Kathryn King Sudol
Kathryn King Sudol is a partner at Simpson Thacher & Bartlett LLP based out of New York who provides legal counsel to corporate and private equity clients on numerous complex public and private M&A deals, earning international accolades for her services rendered for clients such as Alibaba, BlackRock, Cerberus Hellman & Friedman and Silver Lake in regards to acquisitions, divestitures, minority investments going private transactions as well as leveraged buyouts.
As general counsel of an alternative-asset manager since 2007, she will succeed David Sorkin who will transition into chief legal officer before transitioning into an advisory partnership role at the end of 2023.
According to a securities filing, KKR’s new general counsel will receive $18.6 million this year as total compensation – making her one of New York City’s highest paid GCs.
Goldman Sachs General Counsel Kathryn Ruemmler is New York’s highest paid General Counsel (GC). She dethroned Viet Dinh of Fox Corp, who now sits second on our list. Ruemmler earned $7.9M in cash compensation last year to become New York’s highest-paid GC and our story on her can be found here. AI-powered legal analytics, workflow tools, premium legal & business news as well as research tools make up our comprehensive offering – so log in today if you want to keep reading or use research tools!