Pay Governance LLC is an independent firm that serves as a trusted advisor on executive compensation matters.
Our work helps to ensure that our clients' executive rewards programs are strongly aligned with performance and
supportive of appropriate corporate governance practices.
Jeff Joyce is a Partner in the New York office of Pay Governance. He has over 23 years of experience working with senior management and Boards of Directors on performance measurement, value-based management, corporate governance, and executive compensation issues. Jeff primarily assists clients in the development of executive compensation strategies and incentive programs that are designed to drive business strategy and create value for shareholders.
Jeff works with publicly-traded companies of all sizes as well as companies that are privately held. His consulting experience spans nearly all major industry segments including: advertising/marketing, airlines, automotive, banking/financial services, chemicals, consumer goods, distribution, manufacturing, media/publishing, paper and forest products, medical, pharmaceutical, retail, technology, and telecommunications.
Prior to joining the firm, Jeff worked at Towers Perrin, SCA Consulting, Hewitt Associates, and Frederic W. Cook & Co.
Jeff is a frequent contributor to the field of executive compensation and has spoken at conferences held by the Capital Roundtable, the Conference Board, Corporate Dealmaker, The Deal Magazine, eTrade, the National Association of Corporate Directors (NACD), the National Center for Employee Ownership (NCEO), the Society for Human Resource Management (SHRM), the Wharton School of the University of Pennsylvania, and the Owen School of Vanderbilt University. He has published articles in trade journals and has been quoted in Business Week regarding matters relating to corporate finance and executive compensation.
Jeff has a B.S. in Management from Syracuse University and an M.B.A. from the Owen Graduate School of Management at Vanderbilt University.
February 10, 2017 Lower Performance Targets in Focus Ahead of Proxy Season – Almost two in 10 firms set lower year-over-year performance targets for 2016 – which could irk shareholders. Click the link to be re-directed to Agenda Week and … Continue reading →
Ensuring alignment between pay and performance is challenging enough when a business is performing well. But what about during times of an industry or economic downturn, waning company performance, a shift in strategic business focus, or a period of investment when performance expectations are not as high as in recent years? Today, institutional investors and proxy advisors are hyper-focused on pay-for-performance alignment and, by extension, the rigor of performance goals. Any indication of declining incentive goals year-over-year can bring heightened scrutiny, negative commentary, and can increase the likelihood of an “against” Say-on-Pay (SOP) vote recommendation from proxy advisors. What alternatives exist for a company facing the prospect of performance expected to be lower than the prior year? What should be considered in setting incentive plan goals and what can be expected from shareholder watchdogs who closely examine performance goals and alignment with shareholders? Continue reading →
The REIT structure was created in 1960 when President Eisenhower signed into law the REIT Tax Act. A wave of REIT formations and initial public offerings (IPOs) followed. Another wave of IPOs occurred in the 1990s. Historically, REITs tended to have relatively high insider ownership – founded by individuals, families or partners and, in some cases, eventually taken public. Continue reading →
At a recent Chief Human Resources Officer (CHRO) conference, two private equity firms’ operating partners observed that executive compensation programs in each and every company in which they invested had to be completely overhauled. “Of course,” quipped one CHRO, “all you need to do is grant large, upfront stock options as a one-time long-term incentive, and you don’t worry about pay after that.” Continue reading →
The responsibilities associated with serving on the compensation committee of a company’s board have increased significantly in recent years with the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and mandated “say on pay,” governance reform and enhancements, and increased shareholder activism. Continue reading →
A new Equilar report featuring commentary from Pay Governance and Donnelley Financial Solutions analyzes the compensation discussion and analysis (CD&A) section of S&P 100 proxy statements over the last five years. With the average CD&A reaching nearly 10,000 words, the report revealed key strategies in how companies design and communicate pay practices by using alternative pay graphs, checklists and other visualizations that help draw investors to the most important information.
To be redirected to Equilar and download a copy of this important report, click here.
Matt Quarles has joined the firm as a Partner. In this role, Quarles is responsible for working with clients across industries on a wide range of executive compensation issues. He will be based in Los Angeles and has nearly 20 years experience in the executive compensation consulting industry.
Pay Energy®, a new proprietary assessment tool developed by Pay Governance
Pay Energy®, a new proprietary assessment tool developed by Pay Governance LLC, helps companies consider the “drive, discipline and speed” inherent in current programs and in alternative designs that may be evaluated.
“The fundamental philosophy of executive compensation is to ‘attract, retain and motivate’ a talented management team. So it’s concerning when you hear incentive awards are just put in desk drawers until plans mature,” said Pay Governance managing partner John England.