How much are you worth?
For more than two decades, Pearl Meyers & Partners
(PM&P) has provided compensation consulting services and
compensation survey data to clients ranging from Fortune 500s to
emerging, high-growth companies and not-for-profits. At a time when
executive pay is under the regulatory microscope and shareholders
are demanding more value for their money, PM&P promises a
comprehensive approach to compensation planning. The firm's
100-plus professionals work with boards and senior management to
create reward strategies and broad-based compensation programs for
employees and sales professionals.
All of the firm's core practices deal with compensation, with
consulting services that range from compensation strategy design to
implementation and communication of pay programs. Capabilities
include compensation philosophy and guiding principles, salary
programs, annual short-term and long-term incentives, value
creation and performance measurement, contracts, severance
agreements, change-in-control arrangements, equity programs,
competitive intelligence and compensation surveys. The firm also
conducts extensive research, ensuring that it can serve as an
up-to-date resource with trustworthy benchmarking.
Winding path to PM&P
PM&P was founded in 1989 and acquired in 2000 by Clark
Consulting. Seven years later, in March 2007, AEGON N.V., a Dutch
life insurance and pension group, bought out Clark Consulting.
Under a special asset exchange agreement between Clark Consulting
and AEGON, PM&P and other divisions that had been part of Clark
Consulting were sold to Clark Wamberg, LLC, an investor group
created to absorb the former Clark Consulting assets made up of
Clark Consulting executives Tom Wamberg, Jim Benson and Ken Kies.
Once the M&A dust settled, in May 2007, David N. Swinford, then
head of PM&P's New York office, succeeded Joseph R. Rich as the
firm's CEO and president.
Lay of the land
Knowing what your competition is paying its executives and
employees is important to keep the right people in the right jobs.
PM&P's compensation survey practice publishes the CHiPS
compensation survey series, managed surveys, as well as custom
surveys. The CHiPS family of surveys are broad studies that provide
data on segments of the employee population, such as recent college
grads, customer-focused positions and, of course, upper-level
executives and managers. Managed surveys look at specialized job
areas, such as scientists and engineers, or salaries within
outsourcing environments. PM&P's custom surveys are usually
designed to tackle a single organization's unique employee
population segments, which may have unique credentials or
backgrounds that would make benchmarking difficult. PM&P also
conducts custom surveys; for example, a company employing a large
number of expatriates, or with positions requiring high skill and
experience, may require a more focused or specialized competitive
assessment. All surveys are available in print and online
A recognized resource
A longtime provider of compensation information and services,
industry professionals have come to rely on PM&P for its
expertise and advice, which the firm offers via research reports,
articles and white papers, "As We See It" perspective pieces on
industry trends and client alerts, which offer technical advice on
compensation developments in the disclosure, tax and accounting
PM&P consultants also regularly participate in industry
events and conferences, and are regularly quoted in industry
publications-such as Directorship, Workspan,
Compliance Week, Financial Week, Pension
& Benefits Daily and CFO-and in mainstream media,
such as AP, Reuters, the Wall Street Journal,
BusinessWeek, the New York Post, and the
IN THE NEWS
Pearl Meyer managing director Susan Stemper was quoted at length
in a Pharmacutical Intelligence
article on executive pay in the pharmaceutical and biotech
sector. According to Stemper, one of the major challenges with
compensation is that "when you're looking at these sectors where
the return from the research and development - if it follows at all
- perhaps only follow quarters or years after that initial
investment has been made […] The conundrum that we face is trying
to look at this year's pay and trying to align it with this year's
financial performance of the business."
White Paper: Strategic Needs Should Drive Executive
According to a white paper from Pearl Meyer & Partners-the 2013
Compensation Committee Agenda: Go Beyond-"Instead of relying on
political correctness as an executive pay strategy, Boards of
Directors need to put the spotlight back on building great
leadership teams to drive their companies' long-term success. The
paper identifies five key areas to support a complex set of
strategic needs, including bucking trends and "best practices" in
favor of business-based plans, and linking realizable pay to
Read more about the paper here.
Understanding the Tech Sector
article from Managing Director Jim Heim examined some of the
issues surrounding executive compensation in the technology sector.
In a brief blog post describing the article, Heim posed the
question of whether shareholder advisory services firms actually
understand the tech sector, while his article provides some ideas
for getting compensation committees back on track and re-focused on
executive pay decisions that are best for the businesses and their
Pearl Meyer & Partners Survey Shows Dual Impact of
Say on Pay, Increased Shareholder Scrutiny
A survey from Pearl Meyer & Partners found that the key word
is "moderation" for executive pay in 2013, as U.S. companies look
to limit increases in the absence of meaningful performance gains.
Among the survey's findings: nearly one of three respondents said
their companies were planning to cut or freeze CEO base salaries in
the coming year.
"For more than two decades, the traditional 'sweet spot' for
executive salary increases was 3% to 5% annually - now companies
are tying levels more directly to actual performance by holding
salaries flat or even cutting in poor years and making bumps of 5%
to 10% in strong years," said Jim Heim, a Managing Director at
Pearl Meyer and Partners who oversaw the research.