Executive search in Maryland: your options and what they cost

Maryland owners have four ways to find a senior leader: a retained search firm, a contingency recruiter, doing it yourself, or a personal introduction. Retained firms generally charge around a third of the leader's first-year pay and take three to five months. Introductions cost little or nothing but depend on who the introducer knows.

Retained search

You pay a firm to run a full search. Search firms that publish their pricing put the fee at about 30 to 35 percent of first-year salary, often paid in three installments. Firms that publish timelines put a senior search at roughly 90 to 150 days. You get a wide search, structured assessment and a slate of candidates. It suits a critical seat when you have the budget and no one in your own network.

Contingency recruiting

You pay only if you hire someone the recruiter brings you, commonly 20 to 30 percent of first-year salary. It costs nothing up front, but the recruiter is often working the same role for speed, and you may see candidates who are also being shown to other companies.

Doing it yourself

Your own network, LinkedIn and job postings. It's the cheapest route in dollars and the most expensive in your time. It works best when you're clear on the seat and you already know a few people worth calling.

A personal introduction

Someone who knows both of you makes the connection. That's what I do in Frederick, Howard and Montgomery counties. I don't charge, and I only introduce people when both sides say yes first. It isn't a search, so it won't replace one when you need a wide net.

Which fits when

If the seat is urgent and the budget is there, use a retained firm. If you want to see who's available without committing money, a contingency recruiter can help. If the fit on values matters most and you can be patient, start with introductions and your own network. Many owners do more than one.

Whatever you choose, start with values

Every route goes better when you can describe your values with real stories and the seat with real outcomes. A search firm will ask you for both. So will I.

Sources for the figures above

Fee ranges: Cowen Partners and Y Scouts. Timelines: JRG Partners and VisionSpark.