HOS Compensation - Utilizing Compensation Consultants?

[Anonymous]

Looking for advice from those who serve/d on independent school boards of trustees....

For those of you charged with the task of compensating your established Head of School, renegotiating their contracts, and implementing salary increases and additional benefits: did you ever utilize an independent compensation consultant?

Our board is exploring the possibility of hiring a consultant to ensure we are utilizing a fair, collaborative, IRS compliant, and data driven process. But we also wonder about the expense of hiring a consultant and if that money would be better spent giving it directly to the HOS. Would enjoy any advice on pros or cons, what worked or didn't work, or other general advice.

[Anonymous]

It will not save any money.

[Anonymous]

What is an estimate of the fee involved for such a review? NP here that is curious.

[Anonymous]

If you are local, we always used the comp survey data from AISGW.

[Anonymous]

Pay your teachers.

[Anonymous]

Fee ranges from $3-5k

[Anonymous]

Anonymous wrote:Fee ranges from $3-5k

That can’t be right. That’s ridiculously low.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Fee ranges from $3-5k

That can’t be right. That’s ridiculously low.

Not if working with an already established HOS and contract

[Anonymous]

Anonymous wrote:Looking for advice from those who serve/d on independent school boards of trustees....

For those of you charged with the task of compensating your established Head of School, renegotiating their contracts, and implementing salary increases and additional benefits: did you ever utilize an independent compensation consultant?

Our board is exploring the possibility of hiring a consultant to ensure we are utilizing a fair, collaborative, IRS compliant, and data driven process. But we also wonder about the expense of hiring a consultant and if that money would be better spent giving it directly to the HOS. Would enjoy any advice on pros or cons, what worked or didn't work, or other general advice.

All salaries are publish in propuplica and irs for free for 2023. Use that and adjust by inflation. No need to hire a consultant. Can be done….for free.

[Anonymous]

We are of propuplica- they do not post full benefits/packages of a HOS. It takes skill to properly and fairly analyze this type of data. If you were a high-level executive, would you want a team of volunteers telling you their idea of a fair compensation rate and employment package?

[Anonymous]

*are aware

[Anonymous]

Anonymous wrote:We are of propuplica- they do not post full benefits/packages of a HOS. It takes skill to properly and fairly analyze this type of data. If you were a high-level executive, would you want a team of volunteers telling you their idea of a fair compensation rate and employment package?

Compensation consultants were created to justify corporate board-CEO back scratching. They add value for the CEO but not the Corporation.

[Anonymous]

If you're local, contact AISGW. They'll provide guidance for your Board here.

[Anonymous]

Anonymous wrote:If you're local, contact AISGW. They'll provide guidance for your Board here.

Even if you are not local, I’m sure you have something similar. I’m in California, and we use Cal-ISBOA for comp surveys. In my opinion, it is a waste of money to hire an outside consultant. If you want extra assurances, you can consult with your attorney and/or audit firm. We talked to both and gained enough comfort to just doing the benchmarking ourselves.

[Anonymous]

AISGW publishes this info via comp survey.