McLagan is the leading provider of compensation consulting services and pay data to family offices in the US.
Our industry focus, ongoing client work, and proprietary study data allow us to frame each consulting project within a broad business context and a keen understanding of competitive issues and practices. While the scope of our consulting work varies, we are skilled at working with family offices to:
- Provide pay advisory services to senior management and their board of directors.
- Benchmark competitive pay levels and practices and related human resource issues.
- Design annual and long-term incentive/deferral plans.
The quality of our work and our commitment to confidentiality is underscored by the number and prominence of our family office clients. For example, in the US, we work with over 55 family offices, most with assets of $1 to $5 billion.
Our coverage is global through our offices in the US and London.
We provide family offices with three types of consulting assistance:
Benchmarking, with examples of recent projects including:
- Worked with a 10-person family office in defining competitive pay rates for key positions within other family offices and across the broader financial services industry.
- Helped a group of family offices define pay trends, including expected salary and incentive movement.
- Benchmarked benefits and HR practices across a group of leading family offices.
Incentive plan design assistance, with examples of recent projects including:
- Helped a newly created family office develop an annual and long-term incentive plan for its leadership team.
- Assisted a 50+ person family office in refining an incentive program that included a specialized incentive plan for investment staff, a general staff bonus plan, and a management long-term incentive plan.
- Helped a large family office with an in-house private equity function re-design that team’s carried interest and co-investment plans.
Pay advisory services, which include:
- Helped the board of a $3B family office understand competitive pay approaches within other family offices.
- Assisted the lead family member within a large, global family office refine his organization’s pay philosophy.
- Helped the patriarch of a large family set pay levels for his office’s senior managers.