Compensation Consultant for Public Funds

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Compensation within public pension systems is uniquely complex — requiring a careful balance between market competitiveness, fiduciary responsibility, and public sector values. Public funds must attract and retain top-tier investment talent while operating under intense scrutiny and a heightened demand for transparency, accountability, and equity.

At Michael Oak Advisors, we understand these dynamics firsthand. We partner with Boards, investment committees, and senior leadership to develop compensation strategies that can withstand public examination while still meeting the demands of a competitive talent marketplace.

Our work includes crafting robust compensation peer groups that reflect both public and private sector realities, developing clear and defensible pay philosophies, and designing performance-based incentive plans that align with long-term outcomes for beneficiaries. We bring deep experience in navigating stakeholder sensitivities, political environments, and evolving regulatory frameworks — ensuring that compensation programs are not only effective, but also credible and sustainable.

Effective compensation benchmarking in the investment management industry is far more than a data exercise — it requires strategic judgment, market fluency, and a nuanced understanding of talent dynamics. At Michael Oak Advisors, we bring deep experience in helping investment organizations assess salary and total compensation levels that are both competitive and aligned with organizational values.

We work closely with clients to define appropriate peer groups, drawing on insights across public pension systems, endowments, foundations, and private-sector investment firms. Our analysis is grounded in robust market data, but tailored to reflect each organization’s structure, investment model, and geographic context.

Public funds in particular rely on our expertise to navigate the challenges of balancing transparency, fairness, and competitiveness. We advise on the design and execution of compensation surveys, interpret market results in context, and help translate benchmarking data into pay decisions that are defensible, equitable, and mission-aligned.

In the fiercely competitive investment talent market, public funds face a structural disadvantage: while base salaries have become more competitive, meaningful gaps remain in total compensation, particularly in incentive opportunities. Navigating this challenge requires more than benchmarking — it demands strategic compensation design grounded in mission alignment, stakeholder credibility, and long-term investment success.

At Michael Oak Advisors, we bring deep expertise in performance-based incentive compensation tailored to the specific needs of non-profit and public sector investment organizations. Our founder, Michael Oak, has advised a wide range of clients — from university endowments and private foundations to corporate plan sponsors — allowing us to bring best practices and lessons learned from across the industry into the public fund context.

Public pension funds operate under intense public scrutiny and within operational constraints that make traditional incentive models difficult to adopt wholesale. Yet the need to compete for talent remains urgent. We help clients turn this challenge into a strength — designing incentive plans that are performance-aligned, cost-conscious, and transparent, while respecting public service values and governance requirements.

We understand the nuances of working in a “fishbowl” — where every compensation decision is visible and subject to political, media, and stakeholder commentary. Our strategies emphasize thoughtful calibration of performance metrics, selection of appropriate time horizons, and integration with risk-adjusted outcomes. We guide clients through both the technical and reputational aspects of incentive compensation, helping them remain competitive without compromising public trust.

With our guidance, public funds can develop incentive structures that not only attract and retain top talent but also reinforce long-term investment excellence, institutional credibility, and mission integrity.