High-end executive search firms get a retainer (up-front fee) to perform a specific search for a corporate officer or other senior executive position. Typically, retained searches tend to be for positions that pay upwards of US$150,000 and often far more. Search fees are typically 33.33% of the annual compensation of the recruited executive. Fee payments may be made in thirds, 1/3 of fee paid on initiation of the search, 1/3 paid thirty days later, and the final 1/3 paid thirty days later or upon placement of the candidate. Alternatively, a fixed fee may be established.