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Aubrey E. Bout

Managing Partner | Boston 617-467-5920


Aubrey E. Bout is a Managing Partner in the Boston office of Pay Governance. Aubrey actively consults on all aspects of executive compensation. He has a strong track record of helping boards and management teams develop executive pay programs that are aligned with company business strategy, performance and risk appetite. Aubrey has worked with numerous global companies over his 25 year career helping them address complex issues while increasing shareholder value. He works across many industries and geographies and extensively works with leading financial services, life sciences, professional/ business services and technology companies.

Previous Experience

Aubrey formerly served as New England Practice Leader, Executive Compensation for Willis Towers Watson. Prior to that, Aubrey was VP of Human Resources & Customer Satisfaction for Covad Communications, a Silicon Valley headquartered technology company focused on broadband expansion, where he was responsible for developing and executing the company’s overall HR strategy and significantly improving the customer experience and retention.

Additional Information

Aubrey has written numerous articles in HR journals such as People & Strategy, Rotman International Journal of Pension Management, Workspan, WorldatWork Journal, The Corporate Board and various industry trade magazines. He has co-authored several chapters in the two Pay Governance books on executive compensation. He is also a frequent speaker on executive compensation and human resource matters.


Aubrey holds a B.S. in Engineering from Cornell University and a M.S. in Engineering and Management from the University of Southern California.

Federal Reserve Issues Report on Incentive Compensation Practices

In 2010, the federal banking agencies1 adopted final guidance originally proposed by the Federal Reserve on incentive compensation design (“Sound Incentive Compensation Policies”).  This guidance is based upon a principles-based approach governing banking organizations’ incentive compensation arrangements and related processes, … Continue reading

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