UW-Madison will pay a search firm about $167,000 plus additional expenses to help the university identify and recruit candidates to be its next chancellor, according to a contract obtained by the State Journal. The company, Storbeck/Pimentel and Associates, is a household name in recruiting top university executives nationally and touted its record in placing non-traditional candidates in top jobs.
“To date, more than half of all of our placements have been either women or minorities,” the company said in a diversity statement attached to the contract, inked Oct. 12 and released recently to the State Journal after an open-records request.
Financial terms include a base rate of one-third of the eventual chancellor’s starting salary, which the company estimated to be $435,000. Storbeck/Pimentel would be owed $145,000 of that. The search firm estimated an additional $21,750 “engagement support fee” to cover expenses including telecommunications and research.
Other expenses for travel, advertising and making copies will be charged to the university as the company accrues them, according to the contract. No estimate was provided on those charges.