Managing Partner of Prestige Scientific – A member of the Sanford Rose Associates® network of offices, Stephen Provost, Featured in BioSpace, How Executive Pay Packages are Negotiated
By: Rosemary Scott
Plano, TX 3/20/2023
As turbulent economic conditions persist and layoffs become more commonplace, some high-profile tech CEOs have elected to take large pay cuts to preserve cash flow. This has sparked a larger conversation about how, exactly, executives’ salaries are decided.
Stephen Provost is the managing director and co-founder of Prestige Scientific, a life sciences recruiting and executive search firm. He told BioSpace the negotiation process for executive pay packages is more complex than for most other roles.
“Most people either have a base salary plus an annual bonus. Others may have equity in the form of stock options or restricted stock units,” Provost said. “Once you are at an executive level, there tend to be more components.”
Read more: https://www.biospace.com/article/how-executive-pay-packages-are-negotiated-/