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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.”
COMMENTSI wish, Information Technology, Thu 10 Jul 08Figures are completely wrong... I'm sure we can assure you the 'average' consultant doesn't earn this at all. Average here for the top billers is between 160k-450k OTE, but this accounts for about 15 consultants in a company of 150. Add your comment »Alienated, HR & Recruitment, Thu 10 Jul 08How disappointing – the article made it very clear what the assumptions of the comments were. The recruiters making negative comments here have proven yet again what the market says about head-hunters ? they are superficial and do not go deep enough. They read the headlines and run for it – guess what, that is why their days-to-close is bad and their placement rate is abominable. Frankly, such colleagues hurt our industry where client understanding, in depth knowledge, diligence and commitment bring success. I do concur with Paul that the article should be an incentive to aspire to move the job of recruiter out of the shadow of head-hunting and elevate it to the next level and make this one of the respected forces in people, talent and organisational development. Each and every day we touch many lives with our work, we will not be a part of their future if we do not take it serious and allow for the necessary depth. If we do things right a great compensation will come, just naturally. If we stay needy, greedy and nurture envy, we will be like Mike, KLM or p*ssedoff and the same sort of commentors. Add your comment »MD, a City Search Co., HR & Recruitment, Thu 10 Jul 08I echo the various comments about this being nothing more than another antagomistic swipe at the world of executive recruitment.
atopic, Derivatives, Thu 10 Jul 08Alienated, what a valiant defence! But the article is ambiguously written and you cannot deny it. We all aspire to better and I am sitting at my desk in a search firm where top billers bring in between £1m-2m revenues a year. The article is pointless and too ambiguous. Frankly journalists should also show diligence and deep knowledge rather than putting 2-3 opinions together and linking them with 1-2 sentences. I do not see why you are upset that headhunters ran with the headline – our world is all about headlines so journalists have a duty to clarify. Do you think the FT, Bloomberg or Reuters would have published anything that bad? Add your comment »Tony, HR & Recruitment, Thu 10 Jul 08I think the point of publishing it is that it's a massive surprise that recruiters CAN earn that money. Clearly there are enough of them earning around the £500k mark for the Route to mention them among the top earners amid its clients. Unless of course they have three clients, one trader, one headhunter and a lawyer, in which case he needs to tell us the secret to earning so much cash! Add your comment »Darkside, HR & Recruitment, Thu 10 Jul 08tssss.....What's a'ot rubbish. Billing £500K maybe, earning? no way...Again, 1/10 guys might be billing 2M a year but average guy will be billing £300K a year and bring home £100k maybe Add your comment »Pards, HR & Recruitment, Thu 10 Jul 08I made £7Million from recruitment by sending all my clients a ruler. Why dont all you loser recruiters shut up and get on the phone and maybe you will bill more than £3,000 per month. Add your comment »DominiConnor, Thu 10 Jul 08The aritcle does say "average *top end* headhunter", which is a bit like saying "average premier league footballer". Most kickers of balls don't get paid at all, and certainly no one would pay £50K per week for my soccer skills.
Lara, HR & Recruitment, Thu 10 Jul 08Pards you need to learn some manners and lose your arrogance. Add your comment »Mike, HR & Recruitment, Thu 10 Jul 08I have been recruiting front office for 18 years- trader before that for 12 yrs.
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