Executive Search or Contingent Recruitment – Choosing the Right Recruitment Approach for Your Legal Hire

When hiring lawyers in the financial services sector, choosing the right recruitment approach makes a significant difference to the outcome. Two common models are executive search and contingent recruitment. Both can work well, but they serve different purposes. Understanding how they differ will help you decide which option best fits your hiring challenge.

What is Contingent Recruitment?

Contingent recruitment is the most familiar model, where you only pay a fee when a placement is made.

This process typically involves: 

• Instructing 1 or more recruiters on a vacancy and asking them to provide suitable CVs.
• The recruiter working on five to fifteen roles at a time.
• The agency competing against other agencies in a race to present suitable candidates.
• Advertising the role to active job seekers 
• Searching internal databases and existing networks 
• Approaching a selection of candidates who appear to be a good match 

Because recruiters are unpaid until a placement is made, they must prioritise roles that are easiest and quickest to fill. Candidates who do not respond quickly are also usually dropped, as there is little room for repeated engagement. Contingent recruitment can be a great choice for many roles but doesn’t offer the depth or market intelligence required for more complex hiring needs.

What Is Executive Search?

Executive search is a more rigorous process designed for the most business-critical roles. It involves a financial commitment from the client, usually in three staged payments, which allows the recruiter to run a thorough market search. A common myth is that executive search costs more, when in reality the total fee is usually similar to contingent recruitment, it’s just paid in installments to support the structured process.

A full executive search typically includes: 

• An agency instructed on an exclusive basis
• A detailed briefing session defining required competencies, cultural fit and employee value proposition 
• Mapping all relevant companies, competitors and geographies and identifying every individual who meets the criteria 
• Approaching potential candidates systematically and professionally using up to 6 methods.
• Producing a longlist and then an agreed shortlist to interview
• Providing a structured and high-quality candidate journey 
• Value add – such as gathering market data on salaries, benefits and your brand perception 

This method ensures no part of the market is missed and no potential candidate is overlooked simply because they did not respond to an initial approach. It continues until a hire is made, meaning there is no need to start again or instruct other recruiters.

When Should You Use Contingent Recruitment?

Contingent recruitment suits roles that: 

• Have a broad talent pool 
• Require quick turnaround 
• Do not need targeted headhunting 
• Are not senior, specialist or technically complex
• Can be filled through existing networks and active candidates 

Contingent recruitment is still a cost-effective and efficient approach for many in-house legal teams when the role is more straightforward.

When Should You Use Executive Search?

Executive search is the right choice when it is critical to get the hire right. This includes roles that are: 

• Senior or niche  
• Time sensitive
• In difficult locations 
• Facing high competition for talent 

For legal and financial services positions, where confidentiality and depth of assessment matter, executive search often provides the most reliable outcome.

At Fry & Brown, we use both contingent and executive search depending on what your role requires. The right method is the one that gives you the best chance of securing the right lawyer for your team.

Oct 2026