Fees per search consultant rise in US
Across the top 10 search firms, average search fees per consultant in the US rose almost 4% above the 2001 figure, Hunt-Scanlon said in its latest annual report on the executive search industry.
"This suggests high end search work has prevailed during the industry downturn, while assignments for mid-level and support positions have dwindled considerably," Hunt-Scanlon said. Headhunters said it was also related to a steep decline in the numbers of search consultants at most firms.
Spencer Stuart had the highest fees per consultant, at $1,292,913 from 127 consultants. Russell Reynolds was second and Heidrick & Struggles third in this ranking.
In the previous year's rankings Russell Reynolds was first, followed by Spencer Stuart and then Heidrick.
In Hunt-Scanlon's list of the top six global search firms ranked by revenue, Whitehead Mann ousted TMP by entering in sixth place with $103.1m.
It was a far cry from the $350.7 Heidrick & Struggles managed in first place, but not far behind Russell Reynolds with $196.1m in fifth place.
Overall, revenues of the top 25 executive search firms in the US fell 18% from 2001.
Despite its strong US revenue growth, Whitehead Mann issued a profit warning on Wednesday. It blamed a downturn in appointments below board level, especially in financial services.
