Mormons call their leaders "lay clergy," but even at the local level, the term does not really match up to what everyone else calls The Lay Clergy. Sure, a bishop gets no pay (he used to be remunerated back in the old days, though), but the bishop is not really clergy, let alone lay clergy. We just say that they are.
Of course, even a mission president is hardly a layman. Depending on his situation, he gets ample remuneration for his work, and his kids get free tuition within the CES. (I used to know an MP whose 3 kids would not go to BYU, and one went to Chicago University, and the tuition was killing him. I thought it was sweet justice that his kids were not really into the church and hated BYU.)