1st Edition

The Professional Standards of Executive Remuneration Consultants

By Calvin Jackson Copyright 2023

    Love them or hate them, executive remuneration consultants are key players in remuneration committees’ pay determination processes. This book concerns the professional standards of executive remuneration consultants (and their ‘in-house’ counterparts; for example, Human Resources Director and Head of Reward) in providing remuneration committee advisory services.

    The author is a 25-year ‘veteran’ executive remuneration consultant, having worked around the world in this capacity (particularly in the financial services sector). This book is based on a qualitative empirical doctoral research exercise, involving 53 participants in the UK executive pay scene (including regulators, institutional shareholder bodies, proxy advisors, remuneration committees’ chairs/members, executive remuneration consultants and in-house executive reward specialists). The objective was to formulate conclusions that could be used to the benefit of UK practice and contribute to the relevant academic scholarship on executive remuneration consultants.

    The research covered 18 aspects, ranging from an examination of the independence of such consultants to whether there might be a specialised accreditation/qualification and/or licence to practise regime covering their services. It provides novel insights into this previously under-researched area of corporate governance/financial regulation.

    This book will be of interest to those involved in the UK executive remuneration scene, whether government, regulators or any of the other parties mentioned already (plus academics in universities and business schools). It is hoped too that overseas remuneration regimes that have respects in common with the UK’s will find this book useful.

    1. Introduction and scope 2. Regulation of executive remuneration/executive remuneration consultants 3. Executive remuneration consultants: research materials 4. UK remuneration committee advisory practice considerations 5. Working relationships between executive remuneration consultants, remuneration committees and in-house executive reward specialists 6. Remuneration committee advisory firms 7. Self-regulatory regime for executive remuneration advisory firms 8. Professional standards of executive remuneration consultants (1) ethical/professional standards and technical expertise/experience 9. Professional standards of executive remuneration consultants (2) – consideration of specialised accreditation/qualification and/or licence to practice 10. Working relationships between in-house executive reward specialists, remuneration committees and executive remuneration consultants 11. Conclusions (1): 18 research aspects 12. Conclusions (2): research objectives and principal findings


    Calvin Jackson is an Associate Research Fellow at The Institute of Advanced Legal Studies, London, UK. He spent 25 years as an executive remuneration consultant, advising remuneration committees around the world (particularly in the financial services sector). Since retirement from that role, he returned to the Bar for over a decade (with a particular interest in white collar crime and financial regulation).

    "Calvin Jackson provides important insights into how remuneration consultants influence executive pay. His book sheds light on a complex area of corporate governance which will benefit academics and practitioners alike." — Professor Kern Alexander, Professor of Banking Regulation and Chair in Law and Finance, University of Zurich

    "Jackson provides a significant and timely contribution to an underserved but critical area of corporate governance: executive remuneration and the processes that surround it. This new work shines a valuable spotlight on the increasing risks, challenges and complexities facing remuneration committees. With increasing public media scrutiny on pay and more complex performance criteria in areas including ESG, Cryptocurrencies and AI, Jackson provides valuable lessons to improve and maintain professional standards in remuneration committee practices." — Andy Craggs, Programme Director, Executive Education, London Business School, Author of the "The Change Mindset - the Psychology of Leading and Thriving in an Uncertain World" Kogan Page 2022