Executive Compensation Consulting

West Virginia University (WVU) has issued a Request for Proposal (RFP) for Executive Compensation Consulting Services, seeking a specialized firm to develop a comprehensive compensation package for the university's next president. The RFP, identified as RFP202590000582, was published on September 18, 2024, with proposals due on October 4, 2024, at 4:00 PM Eastern Time. The selected consultant will work closely with the WVU Board of Governors, Presidential Search Committee, and Presidential Search Firm to conduct a detailed market analysis and structure a competitive compensation package. Key deliverables include providing market data, conducting peer institution analysis, evaluating executive-level compensation trends, and developing a comprehensive package encompassing base pay, incentive/bonus pay, supplemental retirement plans, and other benefits. The evaluation will be based on a 100-point scoring system: 35 points for Experience & Qualifications, 35 points for Plan of Execution & Approach, 20 points for References, and 10 points for Cost Proposal. Proposers must demonstrate expertise in higher education executive compensation, particularly for land-grant, R1 research, and comparable sized universities.

The RFP does not specify any specific set-aside designations or restrictions on responding organizations. Proposers are required to submit a "Not to Exceed" fee for full compensation services and provide a comprehensive Certificate of Liability Insurance, which includes $1,000,000 per occurrence and $2,000,000 aggregate commercial general liability coverage, $1,000,000 combined single limit automobile liability, and $500,000 statutory workers' compensation limits. Additionally, respondents must complete a Disclosure of Interested Parties form, which is mandatory for business entities entering contracts exceeding $100,000 with WVU. The anticipated contract start date is October/November 2024, with the primary contact being Virgil Cooper, who can be reached at vccooper@mail.wvu.edu or +1 304-293-5711. While specific budget ranges are not explicitly stated, the comprehensive nature of the services and the strategic importance of the presidential compensation package suggest a significant investment in securing expert consulting services. The procurement process will result in a service agreement that outlines detailed terms, compensation structure, and expectations for the selected executive compensation consulting firm.