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TOP STORIESSome of the richest people in the City are headhunters10 July 2008COMMENTSThe article isn't saying that Mr. average recruiter is earning £477k. It's saying that the average recruiter who's a client of this particular wealth manager is earning £477k. Given only better off recruiters are likely to require wealth managers in the first place, it's inevitable that this will be a snapshot of what's going on at the top of the market. Read all comments »If you want to make big money in life, the best careers to go for are (in descending order): trading, ‘general finance’ (AKA all areas of finance that aren’t trading or insurance), law, and…recruitment.
Based on pay figures drawn from clients of wealth manager ‘The Route’, the average top end trader is earning £1.5m, the average top end ‘general financier’ is earning £1m, the average top end lawyer earns £572k, and the average top end recruitment person is taking home a pleasing £477k.
Everyone knows that traders, bankers and lawyers are big money earners, but who are these wealthy recruiters? Victoria Jackson, business development manager at Route, says they’re mostly City headhunters.
Daniel Whomes, director of search to search firm The Ocean Partnership, says £477k is eminently possible for headhunters in the right place at the right time: “To earn that kind of money you need to be with the right firm, work the right market and have been building up a network of people for a number of years. The figure would be much lower at a contingent recruitment firm, due to fee size.”
Shaun Springer, chief executive of fixed income search firm Napier Scott, says £477k is the top of the market: “There are some people here earning that kind of money, but there are plenty more who aren’t. It's a commission-based industry so I'd love to be paying that out as an average.”
COMMENTSRMH, HR & Recruitment, Thu 10 Jul 08Total nonsense. Billing £477k perhaps, but earnings? This is absurd, especially in this market. To be earning that sort of money has nothing to do with right place right time logic. Add your comment »Oh dear, Information Technology, Thu 10 Jul 08The average recruiter earns nearly half a million????
Scorch, HR & Recruitment, Thu 10 Jul 08If I bill another £900,000 this year then I will make the average...fingers crossed Add your comment »Nick, HR & Recruitment, Thu 10 Jul 08This is absolute rubbish, where do you get your facts! Again the media making up rubbish to justify their exsistance, which is why we are in the present situation. Add your comment »kk, Retail Banking, Thu 10 Jul 08Paul if we all misunderstood the point and you are the only one to grasp it, logic would tell us that this article is badly written then. Figures plucked from the air mixed with a few random quotes does not constitute an article. Add your comment »Gary Wilson 3G Recruitment, HR & Recruitment, Thu 10 Jul 08It was a pleasant surprise to read this article, it is nice to know that some people in this industry are earning big money. Those with my firm, albeit a very young one, can certainly hit these figures, we take the first £30,000 in fee income and then they keep 75% of their fees generated. I would have thought that the bigger firms would not have been able to pay these amounts, unless Route thinks that MD and Owners of recruiment firms are average recruiters. Add your comment »Matt, Research, Thu 10 Jul 08Will there be more articles of high quality journalism in this vein soon? I do hope so. It absolutely doesn't look as if it was knocked up down the pub at lunch time over a few swift ones. Oh no. Add your comment »John, Accounting, Thu 10 Jul 08Is it national hate recruitment week? If our profile of career choice was not scrutinised enough! The fact is that I would love to earn an average of £477K . In fact I think every recruiter would like to earn this. This article just proves what ill intelligence you show in understanding our careers and how little knowledge you obviously have in the real world. Where did you conduct your research WALT DISNEY WITH MICKEY MOUSE because that what your figures are. Add your comment »Sarah, HR & Recruitment, Thu 10 Jul 08The article isn't saying that Mr. average recruiter is earning £477k. It's saying that the average recruiter who's a client of this particular wealth manager is earning £477k. Given only better off recruiters are likely to require wealth managers in the first place, it's inevitable that this will be a snapshot of what's going on at the top of the market. The article does, in fact, point this out.... Add your comment » |
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