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Joseph Associates Inc.
Retained Search      Integrity  -  Competence  -  Knowledge  -  Experience

 

SAMPLE of Success Fee Structure

Chief Medical Officer

Likely Base Salary $275 K

Search Conducted at 30% of First Years Base Salary

Success Fee Structure Traditional Retained Fee Structure Initial payments based on 2/3 of Likely Base: $181.5K Initial payments based on Likely Base: $275K Fee Initial Payment Calculate From: $54,450 Fee Initial Payment Calculated from: $82,500 Payment at Start of Search: $18,150 Payment at Start of Search: $27,500 Payment at 30 days: $18,150 Payment at 30 days: $27,500 Final Payment when position is filled: $46,200 Final Payment when position is filled: $27,500

Retained search fee agreement:


Joseph Associates, Inc. is pleased to offer the professional services of our firm in regards to the identification and recruitment of an individual to assume the responsibilities of ---------- for -----------.



TERMS AND FEES

As a retained executive search firm, Joseph Associates, Inc. conducts executive search assignments under the following terms and conditions:

  • Consistent with the executive search profession, our fees are non-contingent and are thirty (30) percent of the first year base salary.

  • Integrated in our fee structure is a Success Fee, which limits the client risk and rewards the efforts of Joseph Associates, Inc. upon the successful completion of the search effort. Our fee will initially be based on two-thirds of the estimated base salary. This reduced fee will be invoiced in one-third (1/3) increments at search commencement, and thirty days from search commencement.

  • The Success Fee is defined as the commission earned for the difference between the first two payments and thirty percent of the actual base compensation. This final payment is due on the official start date of the executive at your firm. All invoices will be submitted in U.S.
    dollars and will be paid in U.S. dollars.
    See Exhibit A of Search Proposal for an example Additional placements will be billed at 25 percent of first year base salary.

  • Joseph Associates, Inc. is reimbursed for our out-of-pocket expenses and disbursements such as long distance telephone calls, candidate travel, interview travel, etc. Any expenditure is discussed with and agreed to by the client prior to its occurrence. We will submit monthly invoices for itemized expenses.

  • All bills are due and payable upon presentation and the payment of fees and expenses are not contingent upon the placement of a candidate with your organization, except when final performance payments apply.

  • You are free to discontinue an assignment at any time by informing us to that effect. You would, however, remain responsible for the sums set forth in the billings presented prior to our receipt of your notice of discontinuance, as well as for any final expenses as of the date of notification.

     

GUARANTEES & LIABILITIES

Executive Search is a management consulting activity that may or may not result in the hiring of an executive. Therefore, it is misleading to guarantee that a position will be filled as the inevitable conclusion of an executive search consulting assignment. At the same time, it is appropriate that Joseph Associates does commit to introduce to its client a minimum of three to five qualified candidates for consideration on each assignment. We will conduct initial reference checks, verify academic credentials, and, to the best of our ability, confirm all factual statements regarding the candidate’s history and record of accomplishments.

In addition, it is appropriate for the client to understand the firm’s policy about unusual situations. For example:

  • If a candidate leaves their new position as a result of involuntary termination within a period of ninety days, Joseph Associates will restart and execute a replacement search, charging applicable out-of-pocket expenses only.

  • We work to completion on each search, unless mid-course changes are judged to be so significant that, in reality, a brand new search has been initiated. Billing and expense adjustments may be justified at that time.


We observe the laws in force relating to employment in each of the countries and jurisdictions in which we work. Joseph Associates, Inc. refers quality candidates without regard to race, color, religion, sex, sexual preference, age, national origin, or disability.

 

Joseph Associates Inc.
229 Main St. Huntington, NY 11743

Phone: 631-351-5805   |   Fax: 631-421-4123   |   Email:  Inquiries@jaexecutivesearch.com