Executive pay remains a contentious topic for many organizations. Unfortunately for company executives, much of the writing about it is either sensationalist or highly academic; none of it much help to the reader looking for a balanced and informed view of the subject. Sandy Pepper provides company executives, investors, and advisers with a summary of the main theories (from economics, game theory and the behavioural sciences) and best practices (in corporate governance, tax, accounting, compliance and so on) that relate to the compensation of senior executives. He also reviews the current state of corporate governance as it affects executive reward in Europe and the US. And he backs the text up with case study examples. Senior Executive Reward is an intelligent, practical and balanced explanation of the basis on which modern executives are compensated - and why. It is must-have reading for anyone who is interested in the complex and often controversial topic of executive pay, particularly remuneration committee members, professional advisers and senior executives anxious to understand for themselves (and explain to others) the basis on which they are rewarded.
Sandy Pepper is an ex-partner at PricewaterhouseCoopers in London (he wasleader of their global Human Resource Services practice). A Chartered Accountant, Sandy specialises in senior executive reward, employee share schemes, and the taxation of international executives. A frequent contributor to industry events and technical journals, Sandy has written about leadership in the International Journal of Change Management and executive remuneration in Euromoney's International Corporate Governance Review. He joined Department of Management London School of Economics in 2008. He is a Fellow of The Royal Society for the Encouragement of Arts, Manufactures & Commerce.
'This book is one of the most intelligent and well-written books on executive remuneration that I have ever come across. Resisting the hyperbole which so often surrounds this issue, it looks at executive remuneration not only from a financial perspective, but also factors in the human element...[this book] starts by looking at all the basic elements which go towards making a 'total pay' package, base salary, an annual bonus typically tied to financial performance, an equity plan or some other form of long-term incentive arrangement and a retirement scheme, as well as other potential special benefits which might accrue including the often hotly debated severance package. Then separate chapters look at the four basic factors determining senior executive reward: economic models; psychology, sociology and organisational behaviour; corporate governance; and tax and accounting. Finally, the themes throughout the book are drawn together into a really practical framework for designing senior executive reward strategies. This really is a book that no-one on the remuneration committee should be without.' The Non-Executive Director 'Only very few books on senior executive reward are able to combine both a practical view and a theoretical perspective. Sandy Pepper presents every important aspect of this highly controversial topic in a comprehensive and unbiased manner. This is a very useful book, not only for compensation specialists, but for anybody who wants to obtain a broader perspective on this highly emotive issue.' Olaf Lang, Global Head Compensation Management Private Banking, Credit Suisse '...it is hard to find literature that acknowledges the differences in practice between countries while pulling out the common threads. Another difficulty is treading a path between academic research and practical application. This is why Senior Executive Reward is such a find. ...There can be no doubt that senior executive reward is a tricky area and Sandy Pepper does not d