The executive search firms most Indian companies shortlist fall into two groups: global partnerships such as Egon Zehnder, Spencer Stuart, Heidrick & Struggles and Korn Ferry, and Indian firms such as ABC Consultants and EMA Partners. The global names usually take retained CXO and board mandates; the Indian firms cover CXO roles and a wider band of senior management.
This guide covers what each of these firms is known for, how retained and contingency fees compare, and which kind of search fits which role. Where a full search is more than the role needs, there is also an executive search firm alternative worth pricing. Office locations and founding years below come from each firm's own website or stock-exchange filings, checked in November 2026.
Which executive search firms operate in India?
Six firms come up again and again when Indian HR heads compare quotes for leadership roles. This isn't a ranking. Each one suits a different kind of mandate, and none publishes its fees.
Egon Zehnder
Egon Zehnder has worked in India longer than most global partnerships. Its India office page dates the New Delhi office to 1995, Mumbai to 1997 and Bangalore to 2008. The firm is best known for CEO succession, board work and leadership assessment, so expect a retained mandate and a long, structured process.
Spencer Stuart
Spencer Stuart is known worldwide for board appointments and CEO searches, and in India it works from Mumbai, New Delhi and Bengaluru. Like the other global partnerships, it works on retainer and typically takes on fewer, more senior searches.
Heidrick & Struggles
Three Indian cities host Heidrick & Struggles: New Delhi, Mumbai and Bengaluru. Its partners are organised by industry practice (consumer, healthcare, industrial and others), which helps when the role needs someone who already knows your sector's regulators and customers.
Korn Ferry
What sets Korn Ferry apart is that search is only part of its business. It also sells leadership assessment, pay benchmarking and consulting. In India it works from Gurugram, Mumbai and Bengaluru. Companies that want assessment and compensation advice alongside the search often start here.
ABC Consultants
1969 is when ABC Consultants started, as Associated Business Consultants in Kolkata, which makes it one of the oldest organised recruitment firms in India. It is now headquartered in New Delhi and runs executive search alongside senior and mid-level recruitment, so one firm can cover a CXO role and the managers below it.
EMA Partners India
EMA Partners India, incorporated in 2003, is unusual for a search firm: it is listed on the National Stock Exchange, so its revenue and business mix appear in public investor presentations. It works from Mumbai, Delhi, Bengaluru and Chennai, with offices in Dubai and Singapore for cross-border mandates.
How do these firms compare?
| Firm | India offices | Usual mandate | Typical fee model |
|---|---|---|---|
| Egon Zehnder | New Delhi, Mumbai, Bangalore | CEO, board, succession, assessment | Retained |
| Spencer Stuart | Mumbai, New Delhi, Bengaluru | Board and top-team roles | Retained |
| Heidrick & Struggles | New Delhi, Mumbai, Bengaluru | CXO roles by industry practice | Retained |
| Korn Ferry | Gurugram, Mumbai, Bengaluru | CXO search plus assessment and pay advice | Retained |
| ABC Consultants | Headquartered in New Delhi, offices in several cities | CXO, senior and mid-level roles | Retained or contingency, by mandate |
| EMA Partners India | Mumbai, Delhi, Bengaluru, Chennai | CXO and senior management | Retained or contingency, by mandate |
"Typical fee model" is the usual pattern for that kind of firm, not a quote. None of these firms publishes rates. Ask each one for its terms in writing.
How much do executive search firms charge in India?
Contingency firms charge only when their candidate joins, commonly one to two months of the hire's annual CTC (about 8.33%–16.67%). Retained firms bill in stages, starting when the search begins, and their total is often higher. On a ₹40 lakh CTC hire, a contingency fee alone comes to roughly ₹3.3 lakh to ₹6.7 lakh before 18% GST.
The percentage is only part of the bill. Retained mandates add expenses such as candidate travel and psychometric assessments, and the CTC the fee is calculated on often includes joining bonuses and variable pay. Our breakdown of executive search fees in India covers retained and contingency terms clause by clause.
What should you check before signing a search firm?
Start with the off-limits list. Large firms agree not to approach people at their existing clients, and the more clients a firm has in your industry, the more of your best candidates it can't call. Ask which companies are off-limits. A firm that refuses to say is telling you something.
Next, ask who will do the work. Partners win the mandate, but researchers and associates often run the day-to-day outreach. Get the names of the people who will call candidates, and how many other searches they are running.
Then check the replacement terms. Most firms offer a free replacement if the hire leaves within a set period. Read whether that period starts at the offer or at joining, because a 90-day notice period can use up most of a short guarantee before the person arrives.
Does every senior role need an executive search firm?
No. A confidential CEO succession, a board seat or a promoter-family role is where a retained partnership earns its fee: discretion, assessment and a partner who can sit with the board. A VP Sales you are hiring for the second time this year is a different job. It needs reach into employed, passive candidates and a fast read on who will actually join, which doesn't require a retainer.
A simple rule: if the role reports to the board or the promoter, start with a retained firm. If it reports to a CXO and you fill similar roles more than twice a year, price a contingency firm against a platform first. Our comparison of search firms, in-house TA and AI walks through that choice in more detail.
Where does Hire22 fit?
Hire22 is an AI hiring platform for mid and senior roles in India, built by the team behind Freshersworld. You post the role as a JobCoNCT; Hunter AI finds matching profiles, including passive candidates, CoNCT AI confirms their interest by SMS, WhatsApp, email and AI voice calls, and JoinX AI ranks them on 200+ parameters, including CTC fit, notice period and intent to join. Employers typically get an interview-ready shortlist within 22 hours. For one Senior Investment Professional role, Hire22 found 288 candidates, screened 50+ and shortlisted 5; the client hired 1.
Pricing is a flat package with no success fee: first-time employers start with the Trial Package at ₹2,999 + GST for 3 job postings over 3 months (current packages). Hire22 delivers the shortlist; your team interviews and hires. It isn't built for board searches or CEO succession, where a retained firm's assessment work matters more than reach.
Hiring a VP or Director this quarter? Post the role as a JobCoNCT and compare the shortlist with what a search firm proposes.
Which is the biggest executive search firm in India?
No independent body ranks executive search firms in India by size, and most are private partnerships that don't publish Indian revenue. EMA Partners India is the exception: it is listed on the NSE, so its numbers appear in its investor presentations.
What is the difference between a headhunter and an executive search firm?
In everyday use the terms overlap. "Executive search firm" usually means a firm working on retainer for CXO and senior roles, while "headhunter" often refers to contingency recruiters paid only when a candidate joins. Our guide to headhunter alternatives covers the contingency side.
How long does an executive search take in India?
Expect months rather than weeks from brief to joining. The 60 to 90-day notice periods common for Indian senior roles take up a large share of that, so the search itself is often the shorter part.
Can I use two executive search firms for the same role?
You can with contingency firms, but expect disputes over who introduced a candidate first. Retained firms almost always require exclusivity for the mandate, so you choose one firm and pay its stage fees.
Do executive search firms charge candidates?
No. Reputable executive search firms are paid by the hiring company. Candidates never pay them. Be wary of anyone who asks a candidate for a registration or placement fee for a senior role.
Are executive search firms worth it for a CTO hire?
For a CTO who will sit on the leadership team of a large or listed company, often yes, because confidentiality and assessment matter. For a startup's first CTO, founders often get further through their own network and a platform. Our guide on how to hire a CTO in India compares both routes.
