Jul 15, 2004
Did you know that the big search firm Egon Zehnder has some pretty unique practices in the rarefied world of top management search firms?
Clients pay for services rendered, period. There are no contingency fees at the end of a search, no percentage of a newly placed executive's salary that flows into the firm's coffers.
If you want to apply to them be ready to face a gauntlet of 25 to 35 interviews with partners and associates in at least 3 of the firm's 68 offices.
Egon P.S. Zehnder, the owner, in 1976 decided to give up his majority stake so that ownership could be spread equally among all the partners, regardless of when they joined the firm.
The compensation plan within the firm has nothing to do with the revenues of a particular office or the client billings of an individual partner. Instead, paychecks are calculated according to a formula that takes into account base salary, an evenly divided partner's share of the profits, and another share based solely on seniority.
Get more such details at HBS's Alumni Achievement site. Did you know that E.P.S. Zehnder was a Harvard Biz School alumni?
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