Executive Search Fees, Guarantee and Timeline

EXECUTIVE SEARCH

Every Banba search is led by Fergal Nolan or Doreen Happatz. This page sets out how our fees work, what we guarantee and how long a search takes, so you can compare Banba with any other firm before you call.

In short: Every Banba search is led by Fergal Nolan or Doreen Happatz, from the brief to the start date. Our fee is a percentage of the first year’s total remuneration, set out in writing before we introduce anyone. A retained search is paid in three equal instalments; a contingent fee is due only if you hire someone we introduced. If the person we place leaves within 12 weeks of starting, we run a replacement search at no further fee (retained) or give you a credit against a future fee (contingent).

Who leads your search?

Every search is led by Fergal Nolan or Doreen Happatz. The person who takes your brief is the person who runs your search, speaks to the candidates and presents the shortlist. You can read about both on our About page.

How much does executive search cost with Banba?

Our fee is a percentage of the first year’s total remuneration: base salary plus guaranteed bonus or commission, sign-on payments, allowances, car and benefits, and any other guaranteed payments in the first 12 months. The percentage is set out in writing before we introduce anyone, and it depends on the role and on whether the search is retained or contingent.

Contingent search. A fee is due only if you engage someone we introduced, within 12 months of the introduction. We invoice on the start date, or on acceptance of the offer if that is earlier.
Retained search, in three equal instalments. One third when the search starts, one third when we deliver the agreed shortlist, and one third on acceptance of the offer or on the start date, whichever is earlier. A search is retained only when you have confirmed it in writing.
Interim and contract roles. A percentage of the contract value, invoiced monthly in arrears for the time worked.
Team build-outs. When you are hiring several roles under one brief, we agree the fee structure for the whole project in writing before we start.

Our standard terms are in pounds sterling and governed by the law of England and Wales.

Retained or contingent: which should you choose?

A retained search suits a role where few people have done the job, where the search has to stay confidential, or where it is the first appointment of its kind in your organisation, such as a first Chief AI Officer or Head of Machine Learning. Because the search is exclusive, all the effort goes into one shortlist. A contingent search suits a role where the pool of candidates is deep and visible and the brief is settled, such as a senior machine-learning engineering or data engineering lead.

What is the replacement guarantee?

If the person we place leaves within 12 weeks of starting, the remedy depends on how the search was run. For a retained search, we run one replacement search for the same role at no further fee. For a contingent placement, we give you a credit against a future fee; the earlier they leave, the larger the credit.

The guarantee does not cover redundancy or restructuring, a material change to the role, location or pay that the person did not agree to, or a breach of our terms by the client. It applies when our invoice has been paid in full and on time, you tell us in writing within 14 days of the person leaving, and you cooperate with the replacement search by giving feedback, an updated brief and time for interviews.

How long does an executive search take?

We agree the timetable when you brief us. The pace is set by how many people have done the job and how quickly you can interview and decide. Two searches Fergal Nolan led before he founded Banba show the range: a retained search for a Chief Data Officer at Addison Lee, then owned by Carlyle Group, ended in a hire in 52 days, and a Director of Insight Analysis at dunnhumby was filled within six weeks.

What happens at each stage of a search?

Brief. We agree the role, what the shortlist will be measured against and the timetable.
Role specification. A written specification of the responsibilities, experience and context the role needs.
Market map. The organisations and people who could do the job, including those outside the obvious pool.
Approaches. We approach candidates confidentially on your behalf and test their interest.
Assessment and shortlist. Each shortlisted candidate is assessed on capability, leadership, execution, judgement, context and motivation, with a written profile that includes their remuneration expectations.
Interviews and offer. We support your final interviews and advise on the offer and how to secure the person you choose.
Start and first months. We stay in touch with both sides through resignation, notice and the first months in post.