40% of in-house lawyers want to be CEOs - but perception is still the biggest hurdle

A growing number of in-house lawyers want to lead a company.

According to new research from Pinsent Masons Vario, 39% of UK in-house counsel say they aspire to become CEOs as legal teams take on broader strategic roles within businesses.

But if there’s a glass ceiling for lawyers with leadership ambitions, it’s made of perception. When asked what’s holding them back, the most common answer - both in terms of the challenges they expect and the changes they believe are needed for them to get ahead - was "perceptions".

From risk managers to strategy setters

While many GCs already work closely with business leaders on strategy and transformation, the stereotype of the risk-averse lawyer persists. Half of those surveyed said they still feel seen as risk managers, rather than strategic partners.

When asked what skills lawyers can offer in the CEO role, leadership and communication topped the list (22%), followed by strategic thinking (13%) and risk management (12%). A third (31%) of respondents said the real value of an in-house career lies in influencing strategy, managing risk and enabling the business - several essential CEO traits.

Mindset matters

Ben White, former Clifford Chance lawyer and senior in-house counsel, now founder of in-house community Crafty Counsel, says legal leaders need to think beyond their day jobs:

"The CEO’s job is primarily to grow the business; the GC’s job is primarily to protect the business. Both are important but there’s a real difference."

"An in-house lawyer who aspires to be a CEO should know that others will wonder if they have not only the skills but the mindset", he adds. "My advice would be to lean into the strategic parts of your in-house lawyer role and take on new projects and responsibilities outside your core role. It may be that you need to take several little jumps to get to the final destination."

White also suggests that regulated industries - or those with complex contracting needs like energy or telecoms - may be more receptive to ex-lawyers taking the reins.