Compensation Consultant Market Share 2024
This study utilizes Fintool, an AI Equity Research Copilot built on SEC filings, to identify the compensation consultant firms employed by public companies. The Fintool agent worked in the background, processing thousands of DEF14A filings per second to extract relevant information. We subsequently analyze the market share of these consultants across major stock indices for the year 2024.
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Exchanges
NYSE market share
Our analysis of NYSE-listed companies provides insights into the compensation consultant preferences of firms traded on the New York Stock Exchange. This section explores the market share distribution among consultants for these companies, offering a view into how traditional, often larger and more established corporations choose their compensation advisors.
The top firm for NYSE-listed companies is FW Cook with 213 companies.
| Consultant | Number of Companies | Market Share (%) |
|---|
Nasdaq market share
The Nasdaq stock market is known for its concentration of technology and growth companies. Our analysis of Nasdaq-listed firms reveals the compensation consultant landscape for this dynamic segment of the market. This section examines whether there are any distinct patterns or preferences among Nasdaq-listed companies compared to other exchanges.
The top firm for Nasdaq-listed companies is Aon with 239 companies.
| Consultant | Number of Companies | Market Share (%) |
|---|
Indices
S&P 500 market share
Our analysis of the S&P 500 companies reveals a diverse landscape of compensation consultants. The data shows significant market concentration among a few top firms, with notable variations in market share. This section provides insights into which consultants are most favored by the largest U.S. companies and how the market is distributed among various players.
The top firm for S&P 500 companies is FW Cook with 95 companies.
| Consultant | Number of Companies | Market Share (%) |
|---|
Note: There are 0 firms with fewer than 10 customers, which are not displayed in the table above.
Nasdaq 100 market share
The Nasdaq 100, representing major non-financial companies listed on the Nasdaq stock exchange, presents a unique subset of the market. Our analysis highlights the preferences of these technology-heavy companies when it comes to compensation consultants. This section explores whether there are any distinct patterns or preferences among Nasdaq 100 companies compared to the broader market.
The top firm for Nasdaq 100 companies is Compensia with 17 companies.
| Consultant | Number of Companies | Market Share (%) |
|---|
Russell 3000 market share
The Russell 3000 index provides a comprehensive view of the U.S. stock market, including a wide range of company sizes and industries. Our analysis of this broader index offers insights into the compensation consultant preferences across a more diverse set of companies. This section examines how market share distributions might differ when considering a larger and more varied group of corporations.
| Consultant | Number of Companies | Market Share (%) |
|---|
Companies Without Compensation Consultants
While most companies engage external compensation consultants, some choose to handle compensation matters internally. This section highlights the top 10 companies by market capitalization that do not use external compensation consultants.
| Company | Ticker | Market Cap ($B) |
|---|
Methodology
Our analysis is based on data extracted from the most recent DEF14A filings of public companies. We utilized Fintool AI-powered system to process these filings and identify the compensation consultants mentioned. The market share calculations are based on the number of companies each consultant serves within each index or exchange.
Conclusions
The compensation consultant market in 2024 shows both concentration and diversity. While a few large firms dominate across various indices, there also a long tail of specialized or boutique consultants serving specific market segments.
Key observations include:
- The S&P 500 and Nasdaq 100 show higher concentration among top firms compared to the broader Russell 3000 index.
- There are notable differences in consultant preferences between NYSE and Nasdaq-listed companies, possibly reflecting differences in company profiles and industries.
- Some consultants show particular strength in specific indices or exchanges, suggesting potential specialization or targeted market strategies.
This analysis provides valuable insights for companies considering their choice of compensation consultant, as well as for industry observers and researchers studying market dynamics in corporate governance advisory services.