Public Funds
McLagan Partners is the leading provider of compensation surveys and consulting services for public funds.
We provide public funds with:
Annual pay surveys covering all functions (e.g., investments and administration) and position levels (e.g., Executive Director through entry-level staff). In 2007, 75 public funds participated in our pay surveys, with:
- One of our surveys focusing on investment positions (portfolio management, investment research, trading, etc.).
- The other survey focusing on management and administration positions (benefits administration, finance, human resources, etc.).
For public funds, our compensation consulting assistance has taken three general forms:
- Completing reviews/audits of pay levels and pay practices. Our compensation surveys often play a key role in these activities.
- Designing and reviewing incentive plans for investment staff and senior management.
- Providing pay advisory assistance to senior management and Boards of Directors/Trustees. In addition, we have completed a range of proprietary studies focusing on public fund HR and business practices related to, for example, benefits, incentive pay practices, etc.
We provide public funds with three types of consulting assistance:
Benchmarking, with examples of recent projects including:
Assisted a large public fund in identifying pay rates for its staff of over 75 investment and investment related positions.
Helped a public fund review competitive pay levels for executive staff positions.
Incentive plan design assistance, with examples of recent projects including:
Provided a large public fund with assistance in revising the design features of it’s annual incentive plan.
Helped another large public fund review the performance measures and standards underlying its annual incentive plan.
Pay advisory services, which include:
Helping a large public fund assess incentive plan alternatives within the context of its desired “pay for performance” culture and operating approach.
Providing year-end pay trend assistance to the Board of Trustees of a large public fund.
Complementing our annual pay surveys and ongoing compensation consulting work, we conduct a series of studies, including:
Benefits Study: Includes information regarding medical coverage, life insurance, disability, defined benefit plan, time-off policies, and “fringe” benefits offered by public funds.
Incentive Plan Approaches: Instead of focusing on “how much” this study reviews: how incentives are earned (e.g., the structure and design features of annual incentive plans); over what time-periods incentives are measured; and answers other market practice questions.
