Retained executive search is how many pharma and biotech companies hire senior leaders. This guide explains how retained search works, how it differs from contingency recruiting, and what to ask before you sign. It is written for hiring teams and boards that are new to the process.
What Is Retained Executive Search?
In a retained executive search, a company engages a search firm to fill a specific senior role and commits to that firm for the search. The firm is paid for running the search, not only for a successful placement. In return, the firm dedicates time to that role and runs a structured, often confidential, process.
Retained search is common for leadership roles, rare specialties and confidential hires, where market mapping and personal outreach matter most.
Retained vs. Contingency Search
Retained Search
The firm is engaged for one role and paid for the search itself.
- Usually exclusive to one firm
- A defined process with regular updates
- Suited to senior, specialized or confidential roles
Contingency Search
A firm is paid only if it places a candidate.
- Often several firms on the same role
- Speed to submit candidates is the incentive
- Suited to roles with larger, active talent pools
Some firms also offer hybrid models. The right model depends on the role, the size of the talent pool and how much confidentiality the search needs. Fee structures vary from firm to firm, so ask each firm to explain theirs in writing.
How a Retained Executive Search Works
Most retained searches follow similar stages, though every firm runs them a little differently:
- Intake: the firm learns the role, the science, the team and what success looks like
- Role profile: you agree on the criteria and the story the firm will tell candidates
- Market mapping: the firm identifies the companies, teams and leaders that fit
- Outreach: confidential, personal conversations, including with leaders who are not looking
- Assessment: interviews on scientific depth, leadership and motivation
- Shortlist and interviews: you meet a small group of qualified candidates
- References, offer and transition support
Why Retained Search Fits Pharma and Biotech Leadership
Pharma and biotech leaders often need a rare mix of experience: a therapeutic area, a modality, a stage of development and a track record of leading teams. The pool of people with that mix is small, and many are not looking.
A retained search gives the firm the time and focus to map that small pool and approach people carefully. It also protects confidentiality, which matters when a role is not yet public or replaces a current leader.
Questions to Ask a Retained Search Firm
- Who will actually run our search day to day?
- How well do you know our therapeutic area and modality?
- How will you map the market, and will we see that work?
- How often will we get updates, and in what form?
- How do you assess candidates beyond the resume?
- How do you handle confidential information?
- What happens if the search needs to change direction?
- How is the fee structured, and when is it paid?
For a broader checklist, read how to choose pharma recruiters.
How to Prepare Your Team
A search moves best when the hiring team is ready. Before kickoff, agree on who owns the decision, who sits on the interview panel and what the must-have criteria are. Then protect time on calendars for interviews and feedback. Our guide on reducing time to hire has more practical steps.
Retained Search at Biomind Talent
Biomind Talent conducts founder-led executive and retained searches for pharma and biotech leaders in research and development and medical affairs, for clients nationwide. See our pharma and biotech executive search page, or read how we use AI on our AI-enabled executive search page.
Retained Executive Search FAQ
What is the difference between retained and contingency search?
In retained search, a firm is engaged for one role and paid for running the search. In contingency search, a firm is paid only if it places a candidate, and several firms may work the same role.
When should a biotech company use retained executive search?
Consider it for senior leadership roles, rare specialties and confidential searches, where market mapping and personal outreach matter most.
Is a retained search exclusive?
Usually, yes. A retained search is typically run by one firm, which is part of what lets the firm dedicate time to the role.
How much does retained executive search cost?
Fee structures vary by firm and by search. Ask each firm to explain its fee, what it covers and when it is paid, in writing, before you start.
Planning a Leadership Search?
Tell us the function, the level of the role and your timeline.