McLagan is the leading provider of compensation consulting services and pay data for plan sponsors, including both organizations that manage most or all of their pension assets internally as well as those that primarily manage their pension assets through third parties.
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 plan sponsors 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 plans.
The quality of our work is underscored by the number and prominence of our clients. For example, in the US, we work over 20 plan sponsors including 8 of the top 10 corporate plan sponsors.
Our work with plan sponsors is global in scope, with staff located in the US, EMEA, Asia and Australia.
We provide plan sponsors with three types of consulting assistance:
Benchmarking, with examples of recent projects including:
- Helped a leading plan sponsor re-design its investment department’s pay plan including customized benchmarks for each employee.
- Worked with a plan sponsor looking to expand its investment department to price what various organizational structures would cost.
- Benchmarking incentive plan out-performance measures and standards (e.g., bps required to earn targeted payouts) for a large industrial company.
Incentive plan design assistance, with examples of recent projects including:
- Identified competitive portfolio manager incentive plan approaches within corporate plan sponsors for a Fortune 50 company.
- Helped a large union plan sponsor evaluate and improve the incentive program for its investment department.
- Designed a phantom stock for the in-house investment function of a leading industrial company.
- Completed an incentive plan risk review for a large corporate plan sponsor.
Pay advisory services, which include:
- Provided insight about current business and pay practices to parent company management at several large plan sponsors.
- Helped HR and other senior non-investment staff (who were not familiar with the investment function) better understand pay requirements for investment management talent.
- Helped a leading corporate plan sponsor refine / clarify its pay philosophy.