how-to
How to Run an Executive Retained Search
Last Updated: November 6, 2026
Quick Summary
An executive retained search is a paid, exclusive way to fill senior leadership roles, where the employer hires one search firm on a fixed fee to work only on that role. The firm builds a candidate pool, assesses candidates and supports the offer, rather than simply listing the job. Fees are often 25 to 33 percent of first-year pay.
- Retained fees are typically 25 to 33 percent of first-year compensation.
- The firm works exclusively on one role, with a fee paid regardless of outcome.
- Most retained searches take about 90 to 100 days from kickoff to placement.
- Write a clear search brief and align the board and CEO before sourcing begins.
- Read contract terms closely, including the replacement guarantee and the fee basis.
Table of Contents
Executive retained search is a paid, exclusive way to fill senior leadership roles. The employer hires a search firm, pays it on a fixed schedule, and the firm works only on that one search. In practice, the firm acts more like an advisor than a job board, and the process is built around a clear brief, a dedicated research effort, and a structured selection process. IBISWorld's U.S. executive search recruiters industry report estimates the industry at $10.2 billion in 2026, which shows how central this model has become for senior hiring.
Many leadership teams approach their first retained search without a clear picture of how it works. This guide walks through the model, the stages, the costs and the choices that shape the outcome.
The core idea is simple. You pay for focused effort on one role, not for a list of names. The search firm builds the candidate pool, screens it, and presents a short list. Fees are usually set as a share of first-year compensation, and McKenny Group's executive search fee overview describes typical retained fees at 25 to 33 percent of first-year pay.
Retained firms also work in phases. They begin with a detailed intake session to define the role, the success criteria and the ideal profile. Next comes active sourcing, which often draws on networks the employer cannot reach alone. Then the firm assesses candidates, and finally it supports the offer and negotiation stage.
Key features of the model:
- Fixed fee tied to the search, not to a placement
- Exclusive engagement with one firm for one role
- Dedicated research and outreach to passive candidates
- Structured assessment and reference checks
- Ongoing advice through onboarding
Retained search exists because senior roles are hard to fill through public postings. The best candidates are often already employed and not actively looking. A retained firm is paid to find them and persuade them to consider the role.
Retained vs. Contingent Executive Search: Key Differences
Retained and contingent search are often confused, but they differ in how the firm is paid and how it works. In a contingent model, the firm is paid only if a candidate is hired, which can encourage it to present many candidates quickly. In a retained model, the fee is paid regardless of the outcome, which typically leads to deeper research and tighter control of the search.
Majhi Group's 2026 executive search benchmarks reports offer-acceptance rates of 75 to 85 percent for retained specialists, compared with 55 to 70 percent for contingency search. These figures are presented as industry benchmarks, and the methodology is not published, so treat them as directional.
Paying an upfront fee can create anxiety for employers, since the cost is committed before results appear. That concern is why the contract terms matter as much as the model itself.
When to Use a Retained Search Firm and Which Roles It Fits
Retained search fits roles where a bad hire is expensive and the candidate pool is thin. Examples include C-suite positions, senior vice president roles and board-level appointments. It is less useful for junior roles, where a job board or contingent recruiter usually works well.
You should consider a retained firm when the role is confidential, when the market is tight, or when you need someone from outside your current network. A leadership transition during a sensitive period is another strong reason. A retained firm can run a discreet search that protects the current team while it looks for the right person. A discreet search can also reveal candidates who are not actively applying, making accessing the hidden market a natural extension of a careful leadership transition.
Good fits for retained search:
- CEO, CFO, COO and other C-suite roles
- Senior vice presidents and division heads
- Roles requiring rare, specialized experience
- Confidential or sensitive replacements
If a single hire can change your company's direction, retained search can be worth the cost. For more on how leadership succession fits into this planning, see our CEO succession planning governance guide.
The Executive Search Process: Key Stages From Brief to Placement
A typical retained search moves through five stages. Each stage builds on the one before, so a weak brief or a rushed intake will shape the results for the rest of the search.
!Two executives and a search consultant reviewing candidate profiles at a conference table
The first stage is the brief. The firm meets with the hiring leaders to define the role, the reporting lines, the growth path and the must-have experience. Next comes sourcing, where the firm builds a long list of candidates from its networks and research. Assessment follows, with interviews, reference checks and a short list of finalists. The final stages are offer and placement, followed by onboarding support.
Stakeholder and Board Involvement
Senior hires rarely belong to one person. CEOs, board members and senior executives all have a stake in the outcome, and the search works best when they agree on criteria early. Board members often join stakeholder interviews to clarify expectations, and in many cases they approve the final shortlist before offers are made.
Watch out: if the board and the CEO disagree on the profile late in the process, the search can stall for months. Settle the success criteria before sourcing starts.
Executive Search Fees and Contract Terms
Retained fees are usually a percentage of the first-year compensation package. The common range is 25 to 33 percent, though terms vary by firm and by role. Some contracts also include expense billing, which covers travel, research and assessment tools.
Read the contract closely. Look for the fee basis, the payment schedule, the replacement guarantee, and what happens if you pause or end the search. Many firms offer a replacement period, often within the first year, if a placed hire leaves. Ask for the terms in writing before you sign.
Pricing depends on the role, compensation and scope of work. Visit the Brexus Solutions website for a current quote tailored to your search.
Executive Search Timeline: What to Expect Week by Week
Most retained searches take roughly 90 to 100 days from kickoff to placement, though complex or confidential roles can run longer. The timeline usually looks like this:
- Weeks 1 to 2: Intake, brief and profile approval
- Weeks 3 to 6: Sourcing and initial outreach
- Weeks 7 to 9: Candidate interviews and assessment
- Weeks 10 to 12: Finalist interviews, references and offer
Timelines shift when the candidate market is tight or when decision-makers are slow to respond. Set calendar time for stakeholder reviews early, or the schedule will slip.
Preparing Your Search Brief and Choosing the Right Firm
A strong brief makes the search faster and the results better. Before you contact a firm, write down the role's purpose, the first-year priorities, the required experience, the compensation range, and the culture you want the hire to strengthen. Share it with your board and senior team so everyone works from the same document.
When you evaluate firms, look beyond placement numbers. Ask about their sector experience, how they measure search quality, how they handle confidential roles, and how they support onboarding. Ask for references from clients who hired at a similar level. A good firm will welcome these questions.
To discuss a search, request a consultation with our team.
Frequently Asked Questions
What is a retained executive search?
A retained executive search is a hiring engagement in which an employer pays a search firm an upfront retainer to find senior leaders on an exclusive basis. The firm conducts research, candidate assessment and stakeholder interviews over a defined search timeline. Fees are commonly structured as a percentage of first-year compensation, and the employer typically receives a replacement guarantee if the hire leaves early. The model suits C-suite, board-level and other high-impact roles where confidentiality and depth of assessment matter more than speed.
How much does a retained executive search cost?
Retained search fees depend on the role, the firm and the contract terms. Retainers are typically paid in installments across the search. Expenses may be billed separately. Brexus Solutions does not publish fixed prices for this service, so for current pricing or a quote, contact Brexus Solutions directly through its website.
How long does an executive retained search take?
Most executive retained searches take roughly 90 to 100 days from kickoff to a signed offer, though senior or specialized roles can run longer. The timeline usually covers role scoping, candidate sourcing, assessment, shortlist presentation, interviews and offer negotiation. Clear decision-makers and a well-defined leadership profile shorten the process. Delays most often come from slow stakeholder feedback rather than the search itself.
What is the difference between retained and contingent executive search?
In a retained search, the employer pays an upfront retainer and the firm works exclusively on that role. In a contingent search, the firm is paid only if a candidate it presents is hired, and it may work several searches at once. Retained engagements generally offer deeper research and more confidentiality, while contingent searches can be faster for mid-level roles.
Executive retained search works best when the brief is clear, the stakeholders are aligned and the fee terms are understood before the search begins. Get those right, and the process becomes far more predictable.
