“We are looking at using headhunters to recruit our next NED and were wondering what the going rate was for commission / fees for this type of appointment?”
“We are looking at using headhunters to recruit our next NED and were wondering what the going rate was for commission / fees for this type of appointment?”
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We paid £35k last year in three equal stages. Upon engagement, at the end of month one and at the end of month two.
We recently paid £50k in three tranches. For the second year running. We are considering self advertising and using existing contact networks to find the next new NED. It is a shame we can’t build our own directory and introduce likely candidates to each other at no cost. Or perhaps we could…
We agreed to pay £45k in three equal chunks, one on commencement, then at 60 and 120 days. The original request had been for £50k with the payments at 1, 31 and 61 days. If the appointee leaves within 12 months we get the search done again on expenses only.
We are currently recruiting a new Non-exec Chairman. The fee is a £25k retainer plus £25k success – for a position that pays the current chairman just over £50 p.a. This search is through a major search firm, and compares with £75k that was quoted by another.
We recently negotiated an assignement for three NED appointments at a fee of £40k for the first, £35 for the second; and £30k for the third. One third was payable on commencement, one third on day 30; and one third on day 60.
We have recently recruited a NED, total fees payable to the search consultants were £39k. We are currently undergoing a further search (using a different search selection firm) and total fees payable will again be £39k. The fees are payable in three tranches, with an initial upfront fee of £13k.
We are currently recruiting a NED and have agreed a fee of £40,000 with the consultants. The process includes a target for a proportion of female candidates as well so we expect the assignment to be more labour intensive, on thier part, than previous searches.
We recently recruited a non-executive director (who is not a Chairman of any of our committees). The recruitment agency’s fee was £35,000.