Retained Search: A type of executive search in which a firm is paid a retainer to manage all aspects of filling a senior-level position, from defining the job description to negotiating the salary. In a retained search, the firm is paid the same amount, typically a percentage of the new employee's first year’s salary, regardless of whether the firm finds the candidate who is ultimately hired. A retained search continues until the candidate is hired and is usually suitable for senior-level positions at medium to large organizations.