NAHMA 2025 Survey: The Compensation Divide Widens
NAHMA 2025 Survey: The Compensation Divide Widens sophia.defreit…Jon Boba
Biography
Jon Boba is a managing director at Pearl Meyer. Over his 30+ years in real estate consulting, he has completed more than 1,000 engagements representing a wide range of firms in the real estate and financial service industries. He also has developed an industry specialization in health care/seniors housing as well as affordable housing, where he is a recognized leader, respected conference speaker, and author of several published articles.
Jon is responsible for managing client relationships, business development, and executive/board-level consulting work. This includes management consulting, succession planning, "right-sizing," talent assessment, and professional development programs, helping firms attract, retain, and develop future leaders. He is a licensed attorney in the state of Illinois and a member of the American Seniors Housing Association and the National Affordable Housing Management Association.
Using my 30+ years of experience, I support my board and executive team clients by providing a full range of human capital-focused solutions. I equip my clients with the ability to identify, attract, retain, incentivize, and develop difference-making professionals that strengthen the organization at every level.
Executive Compensation 101 for Tax-Exempt Organizations
Executive Compensation 101 for Tax-Exempt Organizations sophia.defreit…Alexander Yaffe
Biography
Alexander is a managing director at Pearl Meyer. The former president and CEO of Yaffe & Company, he is a second-generation expert in executive compensation and has two decades' experience in the field. As the leader of Yaffe & Company, he oversaw its geographic expansion from 10 to 37 states, development of complimentary service lines, and worked with clients whose net revenues ranged from $10M to greater than $1B, allowing for a varied perspective in similarities and differences based on geography, size, and organizational design.
Alexander has assisted hundreds of tax-exempt boards and their leadership teams with assessing executive compensation programs, executive performance evaluation methods, retirement plan designs, leadership transition, succession, and retention planning. Additionally, he works with hospitals and integrated health systems to develop comprehensive physician compensation governance practices, assess current-state compensation and productivity relative to the market, and the development of next-generation plan designs. A common theme across his consulting engagements, Alexander focuses on aligning data, relationships, and circumstances to drive mutually beneficial outcomes for organizations, individuals, and affected stakeholder constituencies.
Alexander has participated in expert panels on these topics, given presentations, and has led board education programs nationally. He published his second monograph with the AHA Center for Healthcare Governance titled The Health System-Physician Relationship Continuum: What Boards Need to Know (Oct 2015).
Alexander graduated from Full Sail University in 1999 with a degree in film/television production. In 2012, he continued his studies at Columbia University pursuing a degree in economics and philosophy.
I work with organizations in rapidly evolving industries by assessing the landscape as it exists and where it's headed so that my clients can navigate the journey successfully. While their challenges may be similar, clients' circumstances differ based on a wide array of factors. Success requires alignment of people, skill sets, and business strategy set upon a strong foundation of compliance and creativity. Through my expertise, I educate—helping clients align and ultimately achieve.
Jim Hudner
Biography
Jim Hudner is a managing director and consulting team leader at Pearl Meyer. In his management role, he oversees a team of senior compensation consultants in the execution of the firm’s growth strategy and in the development of consultants at various stages in their careers. He consults in the areas of total compensation strategy, executive compensation, compensation planning, base salary management, incentive plan design, and performance management. Jim brings more than 30 years of consulting experience to his position and has consulted with organizations in a wide range of industries including technology, higher education, healthcare, research organizations, financial services, and manufacturing.
Jim has considerable experience with the assessment, design, implementation, and communication of compensation programs covering broad-based employee populations. His consulting experience also includes the development and assessment of executive compensation programs in tax-exempt organizations, particularly in light of Section 4958 of the Internal Revenue Code.
Jim earned a bachelor’s degree from Boston College and an MBA with a concentration in human resources and finance from Babson College. He is an experienced speaker on a variety of compensation topics and has contributed to several industry publications.
My consulting focus is two-fold. I work with a wide array of organizations in assessing and developing compensation programs designed to cover the majority of the workforce (i.e., employees below the executive level). As organizations strive to recruit, engage, and retain the talent required to be successful, pay programs need to be grounded in sound, market-based practices that reflect an organization’s priorities. In addition, I work with not-for-profit clients (boards and senior management) in ensuring executive compensation programs are aligned with their mission and strategy while recognizing the impact of regulatory and compliance issues.
Calibrating Incentives: Effectively Structuring the Executive Compensation Payout Slope
Calibrating Incentives: Effectively Structuring the Executive Compensation Payout Slope sophia.defreit…Steven Van Putten
Biography
Steve Van Putten is a senior managing director with Pearl Meyer and leads the firm’s efforts with respect to thought leadership and intellectual capital development. Steve’s primary focus and expertise is on advising compensation committees and senior management on executive and director compensation matters. He has over 30 years of board-level experience consulting to Fortune 500 companies on executive pay.
Steve is a frequent presenter at national executive compensation forums and conferences, including the National Association of Corporate Directors’ annual conference featuring the “Leading Minds in Executive Compensation.” He has written extensively on executive and incentive compensation and is the co-author of the book Myths and Realities of Executive Compensation (Cambridge University Press).
Steve specializes in the design of annual and long-term incentive programs that support long-term value creation. He has developed innovative methodologies for analyzing relationships between pay and performance, as well as assisting companies in determining appropriate performance metrics and associated goals, and calibrating performance award slopes.
Prior to joining Pearl Meyer in 2010, he was the North America East Region practice leader of Watson Wyatt’s executive compensation consulting practice and North American practice director of Watson Wyatt’s performance metrics and measurement group.
Steve holds an MBA in finance from the University of Chicago Graduate School of Business and a BA from Trinity College.
I offer a balanced perspective in advising clients, reflecting on both external practices as well as internal goals and objectives. I strive to provide advice on key topics in executive and incentive compensation that is thoughtful, candid, and with a strong point of view.
Proxy Advisors Under Renewed Scrutiny: Familiar Critiques, One Significant Investor Shift, and What It Means for 2026
Examining Long-Term Incentive (LTI) Plan Design Within Nonprofits’ For-Profit Subsidiaries
Examining Long-Term Incentive (LTI) Plan Design Within Nonprofits’ For-Profit Subsidiaries sophia.defreit…Peter Wertheimer
Biography
Peter Wertheimer is a principal at Pearl Meyer. In this role, he provides executive compensation and governance advisory services to boards and management teams across industries. Peter has a wealth of experience in public and private companies as well as tax-exempt and not-for-profit organizations of all types and sizes. He specializes in executive pay benchmarking, short- and long-term incentive plan design, IPO readiness, reasonableness opinions, peer group development, and board compensation, among other areas.
Prior to joining Pearl Meyer, Peter was an associate principal at Korn Ferry, in the Executive Pay & Governance practice of the Total Rewards division. His clients have included large and complex tax-exempt healthcare and nonprofit organizations, as well as publicly traded and private corporations at various stages of maturity across industries. Earlier in his career, Peter was a consultant at Yaffe & Company, Inc., which was acquired by Pearl Meyer in 2020.
Peter holds a BS from Towson University and a MBA from the Johns Hopkins University Carey Business School. He serves on the board of directors of HealthCare Access Maryland and is a member of the Washington Area Total Rewards Association (WATRA) and the Private Directors Association’s Metro DC chapter.
I am passionate about delivering thoughtful, tailored solutions to address clients' executive pay and governance needs in a manner that is easily understandable by all stakeholders and that promotes the strong alignment of pay and strategy. Honesty, responsiveness, and professionalism are the foundation on which I build my client relationships over time. These attributes help to enable organizations to not only easily satisfy regulatory requirements and public optics concerns, but they result in effective pay and governance practices that encourage the recruitment, retention, and engagement of executive talent.
Planning for RSUs: Key Program Design Decisions
Executive Pay and TSR Performance in Commercial Biotech: A Governance Perspective
Quick Poll: Executive Security
Quick Poll: Executive Security sophia.defreit…Sharon Podstupka
Biography
Sharon Podstupka is a managing director at Pearl Meyer. She is a trusted advisor to boards and executive management teams in the areas of executive and broad-based employee compensation communication and change management. With over 25 years of consulting experience, she is one of the original pioneers of executive compensation disclosure best practices and has proven success in creating effective strategies and delivering content in challenging business environments and under intense scrutiny from investors and proxy advisory firms. Sharon has extensive experience in a broad range of industries, including financial services, manufacturing, oil and energy, retail, biopharma/biotech, and healthcare.
Sharon joined Pearl Meyer in 2013 after 17 years at Towers (Perrin) Watson, where she served as a director in the talent and rewards segment and led the executive compensation communications services team for the Americas. Prior to that, she was a compensation and benefits administrator and communication specialist at EMI-Capitol Music Group.
Sharon is a popular conference panelist at major industry events, including those hosted by the National Association of Corporate Directors (NACD), Women Corporate Directors (WCD), and WorldatWork. She frequently contributes to industry publications including Workspan, Corporate Board Member, and CompensationStandards.com, and has also been quoted by the Wall Street Journal, Bloomberg Business, and Agenda.
She holds a BA in communication from the New York Institute of Technology.
There has never been a more critical time to effectively communicate about pay. Regulators, shareholders, activists, proxy advisors, and employees want to know who is earning what and why. Given today’s focus on pay inequality, it’s not just about executive compensation anymore. Companies need to remove the mystery around pay for everyone. I help my clients create communication strategies and develop content that go beyond technical details and get to the heart of compensation.
Aalap Shah
Biography
Aalap Shah is a managing director at Pearl Meyer. With more than 20 years of experience, Aalap advises public and privately held companies on executive compensation issues, with focus on pay governance, pay-for-performance alignment, and incentive plan design. Of particular interest is the intersection between business strategy, people strategy, and compensation strategy, believing alignment of all three is required to design effective programs.
Aalap advises clients in a variety of industries, including high-tech, healthcare, financial services, consumer products, retail, manufacturing, real estate, and media. He also consults on special compensation programs for IPO and merger and acquisition transactions.
Prior to joining Pearl Meyer in 2006, Aalap was with Mercer Human Resource Consulting, where he specialized in executive remuneration advisory services.
Aalap holds a BS degree in industrial and labor relations with a concentration in international human resource management from the School of Industrial and Labor Relations at Cornell University.
Organizations create and sustain their competitive advantage by offering a distinctive value proposition to both their customers and investors. That value proposition manifests itself in various ways—products and services, the brand, operational efficiencies, and so on. My responsibility is to craft unique compensation structures, within the context of effective corporate governance, that guarantee your organization’s people strategy will be a competitive advantage. I do this by partnering with you to dive deep and think creatively.