David Wise advises boards of directors and senior management on all aspects of executive pay as a senior consultant at Hay Group. His clients range from small private companies to global Fortune 50 corporations; they include Morgan Stanley, Anheuser-Busch InBev and RCN. David is also a frequent speaker and is often featured in national media outlets, including The Wall Street Journal and "CBS Evening News with Katie Couric". He has authored several published articles, and has lectured in both university and graduate school settings. Prior to joining Hay Group, David consulted with PricewaterhouseCoopers and worked as a federal lobbyist. David holds an MBA from Columbia University, and a B.A. from Brown University.
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5 Post-Bailout Lessons in Compensation
by David Wise Thursday Jul 16, 2009Over the last few years, we’ve seen remarkable changes to what was an already turbulent executive compensation landscape. But starting at the end of 2008, we saw a shift that many were hoping they’d never see: an unprecedented level of involvement by the Federal Government. While the first restrictions in December 2008 were aimed at the TARP (bailout) companies, the following months saw a string of legislative initiatives – some for the banks, some for all companies – designed to place limits on compensation. As smaller companies that didn’t have much of a hand in causing the near-collapse of the US economy, many of our clients were wondering what all this meant for them. The answer, whether we like it or not, is that the game is changing for all companies, regardless of your size, industry or situation.
