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Companies HEIDRICK & STRUGGLES INTERNATIONAL INC

HEIDRICK & STRUGGLES INTERNATIONAL (HSII): executive pay, fiscal 2024

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CEO total pay$6,636,483CEO Thomas Monahan · source
CEO vs. named peers67th pct.Of 13 peer CEOs
CEO pay ratio49:1To the median employee · source

CEO pay, last three years

  • $6,636,483FY2024

CEO total pay was $6,636,483 in fiscal 2024; the brief holds no earlier figure for this CEO.

FY2024: salary $900,000 · stock awards $4,233,376 · option awards $0

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Full detail

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Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Thomas Monahan$900,000—$4,233,376$0$1,482,407$0$20,700$6,636,483
Chief Executive Officer
Tom Murray750,000—2,383,35401,241,250020,7004,395,304
President
Krishnan Rajagopalan225,00002,625,0450—0347,9433,197,988
Former President & Chief Executive Officer
Mark Harris377,69201,108,3220—0—1,486,014
Former Chief Financial Officer
Tracey Heaton450,0000466,6460446,850020,7001,384,196
Chief Legal Officer and Corporate Secretary
Sarah Payne350,0000466,6460347,55003,8111,168,007
Former Chief Human Resources Officer
Stephen Bondi359,083191,500122,3820128,500020,700822,165
Vice President, Controller

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2024 totalFY2023 totalFY2022 totalΔ FY2023→2024
Thomas Monahan$6,636,483———
Tom Murray4,395,304———
Krishnan Rajagopalan3,197,9885,084,1076,874,323↓ −1,886,119
Mark Harris1,486,0142,413,7212,388,918↓ −927,707
Tracey Heaton1,384,1961,221,8691,286,861↑ +162,327
Sarah Payne1,168,0071,079,9881,109,036↑ +88,019
Stephen Bondi822,165———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

Heidrick's executive compensation philosophy focuses on attracting, retaining, and motivating leaders by aligning pay with performance against financial and qualitative metrics, ensuring that at least 65% of total target executive compensation is delivered through variable pay to drive long-term stockholder value.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantSemler Brossy
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2024

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Stephen BondiRSU2024-03-08——3,694—$122,382
Tom MurrayRSU2024-03-08——22,638—749,997
Mark HarrisRSU2024-03-08——14,337—474,985
Mark HarrisPSU2024-03-087,16914,337—28,674633,337
Tracey HeatonRSU2024-03-08——6,037—200,006
Tracey HeatonPSU2024-03-083,0186,036—12,072266,640
Thomas MonahanRSU2024-03-08——30,184—999,996
Thomas MonahanPSU2024-03-0815,09230,184—60,3681,333,378
Thomas MonahanPSU2024-03-0848,57597,150—97,1501,900,002
Tom MurrayPSU2024-03-0811,31922,638—45,2761,000,034
Tom MurrayPSU2024-03-0816,19232,383—32,383633,323
Sarah PayneRSU2024-03-08——6,037—200,006
Sarah PaynePSU2024-03-083,0186,036—12,072266,640
Krishnan RajagopalanRSU2024-03-08——33,957—1,124,995
Krishnan RajagopalanPSU2024-03-0816,97933,957—67,9141,500,050

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Stephen Bondi$122,382$0$00.0%
Tom Murray749,9971,633,357068.5%
Mark Harris474,985633,337057.1%
Tracey Heaton200,006266,640057.1%
Thomas Monahan999,9963,233,380076.4%
Sarah Payne200,006266,640057.1%
Krishnan Rajagopalan1,124,9951,500,050057.1%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2024

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Stephen BondiRSU872—$25,750
Mark HarrisRSU1,046—30,888
Tom MurrayRSU1,526—45,063
Tracey HeatonRSU1,526—45,063
Stephen BondiRSU2,961—87,438
Stephen BondiRSU3,694—109,084
Tracey HeatonRSU4,318—127,511
Sarah PayneRSU4,318—127,511
Tracey HeatonRSU6,037—178,273
Sarah PayneRSU6,037—178,273
Tom MurrayPSU8,802—259,923
Tracey HeatonPSU8,802—259,923
Tracey HeatonPSU12,072—356,486
Sarah PaynePSU12,072—356,486
Tom MurrayRSU12,337—364,312
Tracey HeatonPSU12,952—382,473
Sarah PaynePSU12,952—382,473
Thomas MonahanRSU14,710—434,386
Tom MurrayRSU22,638—668,500
Krishnan RajagopalanRSU27,758—819,694
Thomas MonahanRSU30,184—891,334
Tom MurrayPSU32,383—956,270
Krishnan RajagopalanRSU33,957—1,002,750
Tom MurrayPSU45,276—1,337,000
Thomas MonahanPSU60,368—1,782,667
Krishnan RajagopalanPSU67,914—2,005,500
Krishnan RajagopalanPSU83,272—2,459,022
Thomas MonahanPSU84,860—2,505,916
Thomas MonahanPSU97,150—2,868,840
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Adam WarbyIndependent · Board Chair · Ex Officio member of all committees$203,215$149,972——$0$353,187
T. William MesdagIndependent · AFC (Chair) · HRCC · Not standing for re-election · Departed during FY118,036149,972——0268,008
Elizabeth L. AxelrodIndependent · HRCC (Chair) · NGC118,036149,972——0268,008
Stacey RauchIndependent · AFC · NGC (Chair)108,036149,972——0258,008
John BerisfordIndependent · AFC · HRCC88,036149,972——0238,008
Mary E. G. BearIndependent · HRCC88,036149,972——0238,008
Lyle LoganIndependent · Not standing for re-election · Departed during FY64,558149,972——0214,530
Timothy CarterIndependent · AFC · HRCC · Newly elected25,435101,085——0126,520
Vijaya KazaIndependent · AFC · Newly elected25,435101,085——0126,520

Board fee structure and ownership guideline

Annual cash retainer$90,000
Annual equity retainer$150,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)30,000 / 30,000 / 20,000
Stock ownership guideline$5

Total cost of the board

ComponentFY2024
Cash retainers and fees$838,823
Equity awards (grant-date value)$1,251,974
All other compensation$0
Total cost of the board$2,090,797

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names HEIDRICK & STRUGGLES INTERNATIONAL as a peer

Companies that benchmark against HSII

8 companies name HSII as a compensation peer

Each company listed discloses HSII in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named HSII in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

Disclosed peer group — fiscal year 2024

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

Of the companies HEIDRICK & STRUGGLES INTERNATIONAL INC names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including HEIDRICK & STRUGGLES INTERNATIONAL INC.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1FTI Consulting, Inc.2025Douglas Pferdehirt$1,450,000$12,361,640$0$3,501,750$17,816,188
2Huron Consulting Group, Inc.2025C. Mark Hussey1,021,8754,612,52501,515,9757,198,354
3CBIZ, Inc.2025Jerome P. Grisko Jr.993,7505,237,6770576,0007,063,348
4ICF International, Inc.2025John Wasson1,003,0964,715,91801,122,3326,857,678
5HEIDRICK & STRUGGLES INTERNATIONAL INC2024Thomas Monahan900,0004,233,37601,482,4076,636,483
6Marcus & Millichap, Inc.2025Hessam Nadji700,0003,495,95401,749,3106,273,083
7Kforce, Inc.2025Joseph Liberatore925,0003,217,50401,029,0635,415,821
8Kelly Services, Inc.2025Christopher Layden307,6924,000,0030450,0005,207,696
9Barrett Business Services, Inc.2025Gary Kramer887,2582,524,72301,359,2895,002,291
10TrueBlue, Inc.2025Taryn Owen950,0002,545,47901,118,6254,614,104
11CRA International, Inc.2025Paul Maleh900,0002,099,92501,125,0004,156,568
12Resources Connection, Inc.2026Roger Carlile475,9623,193,875003,669,837
13Douglas Elliman Inc.2025Michael Liebowitz800,0000002,300,000
—ASGN, Inc.——————not in coverage universe

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
HEIDRICK & STRUGGLES INTERNATIONAL INCnot disclosedPSU 50 · RSU 50not disclosedSemler Brossy
ASGN, Inc.not disclosednot disclosednot disclosednot disclosed
Barrett Business Services, Inc.not disclosednot disclosedNoMercer
CBIZ, Inc.64.0%RSU 50 · PSU 50NoMeridian Compensation Partners
CRA International, Inc.not disclosedPRSU 60 · RSU 40not disclosedSemler Brossy
Douglas Elliman Inc.not disclosednot disclosedNoPearl Meyer & Partners LLC
FTI Consulting, Inc.not disclosedPSU 70 · RSU 30Yes — Relative TSRPearl Meyer & Partners, LLC
Huron Consulting Group, Inc.not disclosedPSU 70 · RSU 30not disclosedMercer (US) LLC
ICF International, Inc.86.41%PSU 50 · RSU 50NoAon Human Capital Solutions Practice
Kelly Services, Inc.not disclosedPSU 75 · Restricted Stock 25not disclosedPearl Meyer
Kforce, Inc.89%RSU 100Yes — Three-year TSR performance relative to Performance Peer GroupPay Governance LLC
Marcus & Millichap, Inc.72%PSU 50 · RSU 50NoFW Cook
Resources Connection, Inc.not disclosedRSU 100not disclosednot disclosed
TrueBlue, Inc.79%RSU 50 · PSU 50NoMercer (US) LLC

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio

No say-on-pay vote is on file for this company.

CEO pay ratio

Ratio (CEO : median employee)49 : 1
CEO total compensation—
Median employee compensation$129,194
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (60 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, Thomas Monahan. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 6,636,483. View filing ↗
  • Section 01, Tom Murray. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 4,395,304. View filing ↗
  • Section 01, Krishnan Rajagopalan. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 3,197,988. View filing ↗
  • Section 01, Mark Harris. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 1,486,014. View filing ↗
  • Section 01, Tracey Heaton. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 1,384,196. View filing ↗
  • Section 01, Sarah Payne. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 1,168,007. View filing ↗
  • Section 01, Stephen Bondi. DEF 14A, filed 2025-04-11. Section “Executive Compensation”. As printed: 822,165. View filing ↗
  • Section 03, Stephen Bondi RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tom Murray RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Mark Harris RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Mark Harris PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tracey Heaton RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tracey Heaton PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Thomas Monahan RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Thomas Monahan PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Thomas Monahan PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tom Murray PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Tom Murray PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Sarah Payne RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Sarah Payne PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Krishnan Rajagopalan RSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 03, Krishnan Rajagopalan PSU. DEF 14A, filed 2025-04-11. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2025-04-11. Section “CEO Pay Ratio”. As printed: 49 : 1. View filing ↗
  • Section 08, Adam Warby. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 353,187. View filing ↗
  • Section 08, T. William Mesdag. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 268,008. View filing ↗
  • Section 08, Elizabeth L. Axelrod. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 268,008. View filing ↗
  • Section 08, Stacey Rauch. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 258,008. View filing ↗
  • Section 08, John Berisford. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 238,008. View filing ↗
  • Section 08, Mary E. G. Bear. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 238,008. View filing ↗
  • Section 08, Lyle Logan. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 214,530. View filing ↗
  • Section 08, Timothy Carter. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 126,520. View filing ↗
  • Section 08, Vijaya Kaza. DEF 14A, filed 2025-04-11. Section “Director Compensation”. As printed: 126,520. View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 838,823 + equity 1,251,974 + all other 0 = 2,090,797, summed across the director compensation table rows.
  • FTI Consulting, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-19. CEO total compensation as printed in FTI Consulting, Inc.'s own proxy. As printed: 17,816,188. View filing ↗
  • Huron Consulting Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Huron Consulting Group, Inc.'s own proxy. As printed: 7,198,354. View filing ↗
  • CBIZ, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in CBIZ, Inc.'s own proxy. As printed: 7,063,348. View filing ↗
  • ICF International, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in ICF International, Inc.'s own proxy. As printed: 6,857,678. View filing ↗
  • HEIDRICK & STRUGGLES INTERNATIONAL INC (subject), Section 10b CEO total. DEF 14A, filed 2025-04-11. CEO total compensation as printed in HEIDRICK & STRUGGLES INTERNATIONAL INC's own proxy. As printed: 6,636,483. View filing ↗
  • Marcus & Millichap, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-18. CEO total compensation as printed in Marcus & Millichap, Inc.'s own proxy. As printed: 6,273,083. View filing ↗
  • Kforce, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Kforce, Inc.'s own proxy. As printed: 5,415,821. View filing ↗
  • Kelly Services, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in Kelly Services, Inc.'s own proxy. As printed: 5,207,696. View filing ↗
  • Barrett Business Services, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in Barrett Business Services, Inc.'s own proxy. As printed: 5,002,291. View filing ↗
  • TrueBlue, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-14. CEO total compensation as printed in TrueBlue, Inc.'s own proxy. As printed: 4,614,104. View filing ↗
  • CRA International, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in CRA International, Inc.'s own proxy. As printed: 4,156,568. View filing ↗
  • Resources Connection, Inc., Section 10b CEO total. DEF 14A, filed 2026-09-10. CEO total compensation as printed in Resources Connection, Inc.'s own proxy. As printed: 3,669,837. View filing ↗
  • Douglas Elliman Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Douglas Elliman Inc.'s own proxy. As printed: 2,300,000. View filing ↗
  • Section 10a, Kelly Services, Inc. reciprocity. DEF 14A. Kelly Services, Inc. names HEIDRICK & STRUGGLES INTERNATIONAL INC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, TrueBlue, Inc. reciprocity. DEF 14A. TrueBlue, Inc.'s most recent proxy was read; its disclosed peer group does not include HEIDRICK & STRUGGLES INTERNATIONAL INC. View filing ↗
  • Section 10a, Barrett Business Services, Inc. reciprocity. DEF 14A. Barrett Business Services, Inc. names HEIDRICK & STRUGGLES INTERNATIONAL INC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Douglas Elliman Inc. reciprocity. DEF 14A. Douglas Elliman Inc.'s most recent proxy was read; its disclosed peer group does not include HEIDRICK & STRUGGLES INTERNATIONAL INC. View filing ↗
  • Section 10a, Resources Connection, Inc. reciprocity. DEF 14A. Resources Connection, Inc. names HEIDRICK & STRUGGLES INTERNATIONAL INC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Huron Consulting Group, Inc. reciprocity. DEF 14A. Huron Consulting Group, Inc. names HEIDRICK & STRUGGLES INTERNATIONAL INC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, FTI Consulting, Inc. reciprocity. DEF 14A. FTI Consulting, Inc.'s most recent proxy was read; its disclosed peer group does not include HEIDRICK & STRUGGLES INTERNATIONAL INC. View filing ↗
  • Section 10a, ICF International, Inc. reciprocity. DEF 14A. ICF International, Inc.'s most recent proxy was read; its disclosed peer group does not include HEIDRICK & STRUGGLES INTERNATIONAL INC. View filing ↗
  • Section 10a, CBIZ, Inc. reciprocity. DEF 14A. CBIZ, Inc. names HEIDRICK & STRUGGLES INTERNATIONAL INC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Kforce, Inc. reciprocity. DEF 14A. Kforce, Inc. names HEIDRICK & STRUGGLES INTERNATIONAL INC in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, CRA International, Inc. reciprocity. DEF 14A. CRA International, Inc.'s most recent proxy was read; its disclosed peer group does not include HEIDRICK & STRUGGLES INTERNATIONAL INC. View filing ↗
  • Section 10a, Marcus & Millichap, Inc. reciprocity. DEF 14A. Marcus & Millichap, Inc.'s most recent proxy was read; its disclosed peer group does not include HEIDRICK & STRUGGLES INTERNATIONAL INC. View filing ↗
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